Author: Staff Writer
Khulisa Investment Partners is planning to raise R750 million from institutional investors to invest in small-medium enterprises (SMEs). The private equity enabler founded by Dr Phumla Mnganga, Malcolm Rutherford and Chris Lister-James enables clients to build their bespoke portfolios in the private equity asset class. “Khulisa has identified the two largest bottlenecks faced by growing SME’s: the first being access to strategic and governance skills and the second, access to finance. Our solution was to establish Khulisa to address this conundrum and, by so doing, also contribute positively to our own future,” says Dr Mnganga, founder of Khulisa and Lehumo…
Capitec, South Africa’s largest digital bank, continues to support its over 15 million clients during this tough financial time through its new 2021 fees. No increases were applied to monthly fees or digital banking with the Global One monthly admin fee remaining flat at only R5, monthly credit card fee at R40, debit orders at R3.50 and digital payments at just R1. Immediate payments were reduced further to R7.50 from R8 last year and from R10 three years ago showing the bank’s commitment to lead in innovative digital payment solutions. “We’re keeping our competitive digital fees unchanged to meet client…
Smile Telecoms Holdings founder Irene Charnley has retired with effect from 1 January 2021, the Pan-African telecommunications group said on Monday. Hailed as one of Africa’s most successful business leaders, Charnley has led Smile Telecom’s innovation and pioneering of Africa’s first 4G LTE network infrastructure. Charnley has retired as deputy chairman from the Smile Telecoms board. The company also the retirement of Smile Telecoms co-founder Mohammed Wajih Sharbatly from its board and all boards of the operating companies, effective 1 January 1 2021. Sharbatly has acted as co-chairman of the group through December 2020. “Today we say farewell to our…
A distributional analysis of the ownership of South African household net wealth revealed that the wealthiest 2% of households owned almost 50% of household net wealth (just before the start of the pandemic). South African households’ real net wealth increased by an estimated R1 009.1 billion (R1.009 trillion) from the onset of the second quarter of 2020 (Q2 2020) to the end of the year (Q4 2020). This happened despite COVID-19, the lockdown, job losses and an economic contraction. This recovery follows an estimated decline of R772.8 billion during Q1 2020 that resulted from the introduction of lockdowns in many…
After over a decade of research and development around hydrogen fuel technology, President Cyril Ramaphosa says South Africa is now ready to manufacture and commercialise hydrogen fuels technology. The President said this when he responded to a debate on the State of the Nation Address in Parliament on Thursday. “For more than a decade, government has been working with various partners, including the private sector and academia, to develop hydrogen fuel cell and lithium battery storage technologies. “This work serves two important developmental objectives: it offers the possibility of a new, renewable source of energy, while establishing new uses and…
South Africa’s largest digital bank Capitec has launched a new benefit that collectively can save its clients approximately R10 million per month. Capitec Bank has partnered with Shell South Africa to put 20c per litre back into its clients’ pockets. While other banks’ fuel benefits require monthly admin, fees linked to their loyalty schemes and are designed with multiple tiers and hoops, Capitec offers all clients the benefit at no additional cost. Francois Viviers, Marketing and Communications Executive at Capitec, says, “This partnership with Shell is part of our continuous drive to help our clients live better. To us, living…
Tarsus Technology Group (Tarsus) has appointed Tarsus veteran Anton Herbst as its CEO with effect from 1 March 2021. Herbst replaces Miles Crisp, who resigned earlier this month to pursue new interests. Herbst brings to the role more than two decades of leadership experience in the ICT distribution industry, starting his career at Tarsus 20 years ago when it was known as MB Technologies. Between 2001 and 2011, Herbst was the managing director of Advanced Channel Technologies (A.C.T.), a company within Tarsus that focused on the distribution of printer consumables and accessories. Under Herbst’s leadership, A.C.T. grew from a start-up…
“Through our continued partnership with AWS, a leading provider of hybrid cloud solutions, we can support businesses in accelerating their cloud strategies to be more resilient in this uncertain future”
DFA has achieved MEF 3.0 certification for its Magellan Access EPL service which is an E-Access Ethernet Private Line managed-service offering. This follows a rigorous process of testing and ratifying that the product has met the highest and most advanced network-performance, -assurance, and -agility standards. DFA CTO, Andreas Uys, says that DFA is pleased about the certification which sets its service apart from the multitude of low-margin, fixed-bandwidth services in the market and places it in a leading position among local providers for adherence to global industry practice. ‘This certification demonstrates performance excellence and enables us to establish a standards-compliant…
Communications and Digital Technologies Minister, Stella Ndabeni-Abrahams, has committed to speed up the digital migration project, which will lead to a complete analogue switch-off in March 2022. This is in line with President Cyril Ramaphosa’s announcement during the State of the Nation Address that the long-awaited national switch-off process of analogue television transmitters, which will see the country move away from analogue to digital broadcasting, will get underway next month. The President announced that it is anticipated that this process, which will be done province-by-province, will be completed by the end of March 2022. During a briefing on Wednesday, Ndabeni-Abrahams…