Author: Staff Writer
A new venture capital fund that blends investment and entrepreneurship launched today. Conducive Capital is a newly formed, majority black-owned, South African venture capital company investing in early- and growth- stage disruptive technologies that are post-revenue, capital efficient, good unit economics with product market fit, and have the ability to scale their businesses both locally and globally. The company’s founding partners are Clive Butkow, founder and former CEO of Kalon Venture Partner, and Mitchan Adams, co-founder of Ozow, a leading South African fintech company, and current CEO of Aions. Prior to Clive’s role at Kalon he was the COO of…
Cell C promotes El Kope as Chief Financial Officer and Executive Director on the Cell C Board. The company said this strategic move reinforces its commitment to excellence and financial leadership, harvesting from their internal top talent pool. El Kope, a Chartered Accountant and finance executive, joined Cell C in September 2022 as the Executive Head for Financial Planning & Analysis. Cell C said her exceptional performance and unwavering dedication led her to step up as Acting CFO following the departure of the previous CFO in August 2023. El has a proven track record and brings a wealth of experience…
Showmax has just dropped the trailer for Tracking Thabo Bester, the true-crime documentary South Africa has been asking for ever since GroundUp first broke the news that the convicted murderer and rapist did not burn to death in Cell 35 after all and was instead shopping at Woolworths in Sandton City. Thabo Bester was the most searched person in South Africa on Google in 2023, with his co-accused, Dr Nandipha Magudumana, just behind in fourth place, as the whole country obsessed over Bestermania and the stormy tale of love, murder, deception and corruption. Daily Maverick named them both ‘SA Villain…
The BMW Group presents a fusion of art and innovation at the Frieze Los Angeles art fair in the form of the BMW i5 Flow NOSTOKANA. The one-of-a-kind vehicle combines colour-change technology developed by BMW with the artistic language of South African artist Esther Mahlangu. The designer piece, with sections of attached film that can be electronically animated, embodies the latest development in colour-change technology for vehicle surfaces in cooperation with E Ink. The BMW i5 Flow NOSTOKANA celebrates its world premiere at the fair opening on 29 February. The contemporary tribute recalls the BMW Art Car designed by Mahlangu…
Eskom board announced the arrival of Eskom Group Chief Executive, Dan Marokane, who officially assumes his role today. He re-joins Eskom at a time when the organisation faces an existential challenge and is undergoing significant changes that require hands-on, bold, and decisive leadership. Eskom Board Chairman Mteto Nyati expressed confidence in Marokane’ s abilities, as well as in the leadership and staff of Eskom, emphasising their collective commitment to turning the organisation around. “We expect Dan and his leadership team to accomplish at least two critical tasks. First, they must address the current business challenges. Loadshedding must become a thing…
The newly-formed National Financial Ombud Scheme (NFO) today announced the commencement of operations as a single, one-stop, all-in-one dispute resolution service made up of the four (4) former existing services – the Ombudsman for Banking Services (OBS); the Credit Ombud (CO); the Ombudsman for Long-Term Insurance (OLTI); and the Ombudsman for Short-Term Insurance (OSTI). The Ombud Council, granted the NFO recognition (under section 194 of the Financial Sector Regulation Act, 9 of 2017 (FSR Act), as an industry ombud scheme on 23 February 2024. Complaints will be accepted from 1 March 2024. All the services and assistance previously provided to…
Mastercard and MTN Fintech have signed a multi-market agreement that will set in motion a new era of collaboration to connect millions of people and small businesses across Africa with digital tools to transact through secure mobile payments, expanding access to the benefits of the cashless digital economy. The partnership will use Mastercard’s cutting edge technology and capabilities to support MTN’s ambition to become Africa’s largest fintech platform for both merchants and consumers. This follows Mastercard and MTN’s recent agreement for a minority investment into MTN Group Fintech – the digital financial services arm of Africa’s largest mobile network operator…
Transnet acting CEO Michelle Phillips has been appointed as its new boss, Public Enterprises Minister Pravin Gordhan announced on Wednesday. The Minister also announced the appointment of Nosipho Maphumulo as the Group Chief Financial Officer (CFO). “These are critical appointments which represent our steadfast commitment as government to equip Transnet with a competent and experienced executive leadership team to drive the strategic interventions that the board has put in place as part of the Transnet recovery plan,” Gordhan said. Phillips is currently acting as the Group Chief Executive of Transnet, and there has been improvements in the performance of ports…
At MWC 2024, Huawei officially released the National Cloud 2.0 solution worldwide. Huawei aims to help government organizations around the world accelerate national digital transformation and promote intelligence. Hu Yuhai, Vice President of Huawei Hybrid Cloud, said: “Global digital transformation has reached a new stage of full intelligence driven by data and AI. The National Cloud 2.0 solution from Huawei provides trusted cloud infrastructure, innovative cloud services, and extensive industry know-how. We aim to help governments achieve national digital visions faster.” The National Cloud 2.0 Solution Has Been Officially Released Today, more than 170 countries and regions have announced digital…
During MWC Barcelona 2024, Huawei held the Huawei Talent Summit and made announcements relevant to several talent development initiatives, including: the launch of the applications for the global ITU-Huawei Generation Connect Young Leadership Programme; the announcement that the joint project between Huawei and UNESCO’s Institute for Lifelong Learning (UIL) will be implemented in Morocco; and Huawei Cloud’s startups programme. The theme of the event was “I C Talent: Nurturing Excellence in a Digital World”. Attendees included representatives from international organizations like ITU and UNESCO, government officials from Greece, Kenya, and Mexico, female industry leaders, entrepreneurs participating in the Huawei Cloud…
Discovery today announced the official launch of the Discovery Pothole Patrol Academy in partnership with Avis Southern Africa. Following a successful pilot in 2023 with 18 learners, the Academy is now accredited by the Insurance Sector Education and Training Authority (INSETA) to offer a 12-month practical skills training programme providing an NQF Level 3 qualification. In its first official year, which kicked off on 1 February 2024, the Academy is providing classroom and on-the job-training to 24 learners through EduWize, an accredited learnership and skills development provider. Participants are men and women aged 22 to 34 from previously disadvantaged communities…
Vodacom has taken its case to the Constitutional Court, aiming to overturn a judgment from the Supreme Court of Appeal regarding the “Please Call Me” dispute, which it deems “fundamentally flawed.” This move follows the dismissal by the Supreme Court of Vodacom’s application for leave to appeal against a prior High Court ruling. The Supreme Court directed Vodacom’s CEO, Shameel Joosub, to extend a new offer to Nkosana Makate, operating on the premise that Makate had an 18-year contractual relationship with the company. In 2016, the Constitutional Court recognised Makate as the inventor of the “Please Call Me” service, despite…
Covid-19 exposed the weakness of the data held by municipalities across South Africa. Lack of information about vulnerable families made it difficult to implement focused and effective disaster-management and support initiatives. That’s the challenge at the heart of a weekend hackathon in March 2024, hosted in Johannesburg by Kagiso Trust in partnership with the Empire Partner Foundation (EPF). The event, with a prize of R20,000 for the winning team, will aim to develop a tech solution to address data management in municipalities. “We are at a pivotal moment where technology can drastically improve how local government operates,” says Mankodi Moitse,…
In a strategic move aimed at reshaping the digital banking platform landscape, Dunes, a prominent Fintech platform headquartered in the United Arab Emirates, has inked a Memorandum of Understanding (MOU) to acquire a substantial stake in Be Mobile Africa. The acquisition, slated for finalisation by the close of the second quarter of 2024, represents a pivotal moment for Dunes, solidifying its position as a frontrunner among the new wave of Fintech enterprises. “The strategic sale of non-financial assets injects vital financial resources into Be Mobile Africa. These resources will be used to double down on key African markets, in line…
The electric vehicle (EV) market in South Africa is projected to reach R612,922,375 in 2024 and the market is expected to expand at an annual growth rate of 16.93% between 2024 and 2028. Many in the automotive industry will know that electric charging barely scratches the surface of automotive possibility in 2024. By 2030, around 95% of new vehicles sold globally will be connected. Software, personalisation, and automation will define the next era of auto. “New in-vehicle experiences powered by tech will revolutionise how we and our cars interact with our environment in the coming years. However, to do this,…
South Africa’s first fully-fledged creator house, Ya Rona House, has been unveiled in Johannesburg. Positioned as the ultimate intersection between sports, entertainment and culture, Ya Rona House is attached to this year’s Nedbank Cup – South Africa’s biggest knockout football tournament. While Ya Rona House was designed in the guise of the TikTok-style creator houses seen in America and Europe, it will feature some of South Africa’s top creator talent. True to its name, which translates to ‘our house’, the space will provide guests with some of the most innovative experiences seen in local football. With an injection of gaming,…
While it’s unlikely that the Conduct of Financial Institutions (COFI) Bill will be tabled before Parliament rises ahead of the elections this year, market players are eagerly awaiting its enactment and the many benefits it will bring, especially when it comes to low risk, rapid innovation in the fintech space. Designed to complement the Banks Act and Insurance Acts, COFI has been drafted to consolidate thousands of pages of disparate financial legislation and create a single standard of industry conduct. It will impact all financial institutions, including banks, insurers, credit providers, and financial advisors and, importantly, non-financial institutions such as…
With more than 80% of confirmed data breaches due to stolen, weak or reused passwords*; reclaiming digital footprints by safeguarding personal information is one of the most pressing internet safety issues of 2024. This is according to the Internet Service Providers’ Association of South Africa (ISPA) as another Internet Safety Month winds down and stakeholders in South Africa and across the globe help raise awareness of a safer and better internet for all. “February with its ‘together for a better internet’ message is an opportune time to remind South African internet consumers that the safeguarding of personal information should be…
After unveiling its groundbreaking collaboration with the Gauteng Provincial Government (GPG) two weeks ago, Vumacam, South Africa’s premier technology-infused CCTV network, is delighted to report significant initial achievements in combating crime within the nation’s economic hub. This alliance empowers the GPG to leverage Vumacam’s expansive camera infrastructure and cutting-edge crime-deterrence solutions. By partnering with Vumacam, the GPG gains instant access to a vast network comprising over 6000 cameras across Gauteng, with additional access to partner cameras nationwide. “The power of our technology allows our partners in the public and private sector to maximise their crime fighting resources. By putting the…
This year’s Huawei Cloud Summit demonstrated how Huawei Cloud is the infrastructure of choice for AI applications. With the theme of “Accelerate Intelligence with Everything as a Service”, the 500-strong event brought together executives and experts from diverse industries, such as carrier, finance, and Internet. Huawei Cloud presented 10 AI-oriented innovations and extensive industry expertise of Pangu models. The objective is an AI-ready infrastructure tailored to each industry for a faster journey towards intelligence. Jim Lu, President of the European Region and Senior Vice President of Huawei, stated in his speech that, “Intelligence will open up new opportunities for Europe…
SEACOM, the leading converged ICT services provider in Africa, encountered a service-affecting outage on its subsea cable system on the 24th of February 2024. The disruption is only on the segment of the cable that runs from Mombasa (Kenya) to Zafarana (Egypt). Initial assessments suggest that the disruption to the subsea cable occurred within the vicinity of the Red Sea, and other cables in the area appear to have also been impacted. At this time, SEACOM is unable to confirm the cause of the disruption but is working with its cable repair partner to assess the feasibility of the repair…
The Commissioner for the South African Revenue Service (SARS), Mr Edward Kieswetter, reaffirmed the organisation’s commitment to supporting Finance Minister Mr Enoch Godongwana’s strategy for fiscal consolidation over the medium term. “A well-functioning tax administration within a growing economy is the most sustainable path towards improving the country’s fiscal integrity,” said the Commissioner. He said this after the Minister delivered his final Budget Speech of the 6th administration of South Africa’s democracy, which celebrates its 30th anniversary this year, following the historic democratic elections of April 1994. Mr. Kieswetter said that, since its inception in 1997, SARS has played a…
The recent “get to know me” trend on Instagram and TikTok may seem harmless, but cybersecurity experts have warned of the potential pitfalls of giving away too much of your personal information, particularly as it makes it easier for hackers to compromise your accounts. Alexandra Hoang, better known as @lille.hoang to her almost 82,000 followers, has no problem sharing a bit more about herself on Instagram and TikTok. The Norwegian-Vietnamese influencer, who offers interior design advice and loves couture fashion, participated in the recent “get to know me” challenge on social media. The diminutive beauty says she’s 29 years old,…
The Communication Risk Information Centre (COMRiC) and the Association of Comms and Technology (ACT) have jointly appealed to Finance Minister Enoch Godongwana to deliberate on the provision of diesel rebates tailored specifically for the telecommunications sector. Reliance on diesel generators to provide backup power for cell towers, especially in remote and underserved areas, is a significant operational expense. In the face of electrical outages, which are particularly common in regions with unstable power grids, diesel generators ensure network uptime, maintaining crucial communication channels for both consumers and emergency services. A rebate on diesel would not only alleviate the financial burden…
The City of Johannesburg has unveiled a groundbreaking initiative aimed at enhancing urban mobility: 200 JMPD Traffic Pointsmen. In a YouTube video released today, city officials introduce this innovative approach to alleviate traffic congestion and streamline transportation within Johannesburg. This strategic move underscores the municipality’s commitment to addressing the challenges of urban mobility and fostering efficient transportation networks for its residents. See video below: