Author: Staff Writer

Nedbank today announced the introduction of innovative generative Artificial Intelligence (AI) technology to employees to revolutionize the way they interact with information and make data-driven decisions. Employees now have access to an AI powered assistant, Microsoft Bing Chat Enterprise, that can help with various tasks such as content generation, data analysis, document summarisation, and skill acquisition. Nedbank’s adoption of this cutting-edge technology signifies its initial step towards providing employees with secure access to generative AI. This strategic move is designed to stimulate innovation, enhance efficiency, and accelerate learning. Nedbank envisions that generative AI’s capabilities will enhance collaboration, decision-making, and innovation…

While September was not a great month for new or used car sales, the used car market in South Africa showed steady year-on-year growth.  According to AutoTrader, the used car market in September 2023 saw a +9.5% year-on-year increase in sales from September 2022, but declined by -9% versus August 2023 used car sales. The accumulative value of used car sales for September rose from R11,6 billion in 2022 to R12,7 billion in 2023. In comparison, according to figures released by naamsa | the Automotive Business Council, the September 2023 new passenger car market – at 29,669 units – registered…

In March this year, MTN SA announced the investment of R1.5billion towards network resilience programme that is aimed at warding off the negative impact and frustration caused by power cuts, theft and vandalism and help enhance network availability and stability over the long-term.   The investment has resulted in an improvement in network availability in line with international benchmarks despite the ongoing bouts of loadshedding.   The investment has seen the company deploying additional sites and doubling its 5G sites in the province.    “Our purpose is to accelerate digital access for as many South Africans as possible and brighten lives through the…

In the wake of its successful launch, MTN South Africa is introducing compelling enhancements to MTN SuperFlex, the transformative mobile offering that aims to reshape the landscape of personalised mobile plans.   These enhancements will ensure an even more versatile and user-centric experience. MTN customers can now enjoy:  Expanded Accessibility: Existing customers or those who have already ported to MTN prepaid now have the seamless ability to enjoy MTN SuperFlex using their current prepaid SIM cards and mobile numbers. This expansion means more users can experience the freedom and customisation that SuperFlex offers. Re-subscription Flexibility: Subscribers can now enjoy the…

The South African Revenue Service (SARS) recently published their requirements for monthly tax certificate reporting, in support of the SARS personal income tax (PIT) modernisation project. ‘ The modernisation project is an ambitious initiative to modernise personal income tax collection, reducing non-compliance and providing taxpayers with a near real-time view of their tax obligations. Employers will be required to submit tax certificate information monthly, as opposed to submitting twice a year. Over time, the need for employer PAYE annual reconciliation is expected to fall away, as well as the requirement for most taxpayers to file personal income tax returns. SARS is…

After an influx of complaints about car repossessions by banks when people fall behind with their vehicle finance repayments, the Ombudsman for Banking Services (OBS), Reana Steyn, says it is necessary to clarify the rights of both consumers and banks in such circumstances. Importantly, she notes that the first legal principle to understand is that under vehicle financing agreements, the vehicle remains the property of the bank until the loan is fully repaid. “With financed vehicles, the bank, as the titleholder, remains the legal owner of the vehicle, and ownership only passes to the buyer on payment of the last…

In the third quarter of 2023, sales of South Africa’s used cars generated a staggering R39.1 billion, according to AutoTrader used car sales data. But for the first time in three months, September used car sales went into negative territory, falling -9% month-on-month from 34,725 sales in August to 31,636. The average used car price crept up minimally to R403,626 from R403,203 the previous month. The total value of used cars sold in September totalled R12.7 billion. While this figure reflects a year-on-year growth of 10%, used car shopping enthusiasm could not match August’s sales of just over R14 billion. Still,…

MTN Group and MTN South Africa have appointed David Behr as the new Chief Executive for the ICT Centre of Excellence (CoE), effective 1 November 2023. Behr, a highly acclaimed industry veteran with over two decades of experience, has extensive expertise in the enterprise arena, including enterprise cloud, cyber security, IOT solutions and platform development, amongst others. In the context of ICT enterprise, a CoE is a centralised unit within an organisation that’s responsible for developing and promoting best practices, processes and standards for the business. Importantly, CoEs also drive platform and solution development, to deploy to business units for…

Gulf Capital, an operationally focused private equity firm investing from the GCC to Asia, announced today the successful completion of its exit from iSON Xperiences (iSON), a tech-enabled emerging markets customer experience and delivery partner that offers Business Process Outsourcing (BPO) services across India and Africa. Gulf Capital and AfricInvest had invested around $50 million in iSON to accelerate the company’s growth. During the partnership period with Gulf Capital, iSON completed three bolt-on acquisitions that allowed the company to expand its geographic coverage across Africa including Egypt and South Africa, in addition to expanding its product offering and capabilities. iSON…

Today, RMB announced the extension of its longstanding partnership with China Construction Bank (CCB) for an additional five years. This collaboration, established in 2009, facilitates cooperative efforts between the two entities, leveraging their individual strengths. CCB has been instrumental in supporting various Chinese enterprises in their investments and trade activities in Africa, while RMB contributes its extensive on-the-ground expertise to enhance these initiatives. RMB CEO Emrie Brown said: “We have, since we first started partnering with CCB, together facilitated over R20bn of trade and provided over R6n of financing to Southern African companies. CCB was also an anchor funder of…