Author: Staff Writer

MFS Africa, Africa’s largest digital payments network, is thrilled to unveil its new identity: Onafriq. This rebranding is not just a name change but a reflection of the company’s evolution and its vision for the future. As Dare Okoudjou, founder and CEO, puts it: “The name MFS Africa, just like an old jacket, was getting a little tight for us as we’ve grown. We’ve expanded beyond just mobile financial services, becoming a true omni-channel platform across the continent and beyond. As we embark on this next phase of our journey, we wanted a name that reflects our aspiration of wiring up…

Hollard International will extend its footprint in Africa through the finalisation, on 31 October 2023, of an agreement to acquire a significant interest in Apollo Investments Limited, the holding company of Kenya-headquartered insurer APA Insurance. This strategic investment, subject to regulatory approvals, gives Hollard International a presence in the East African market, supplementing its existing operations in Southern and West Africa. Hollard becomes the second international investor in the Kenyan group, following Swiss Re, which acquired a stake in 2014. For APA, the partnership gives Kenya’s second-largest insurer access to a larger market and expanded opportunities for growth, says Ashok…

Volvo Car South Africa is pleased to announce that a new Polestar Engineered Optimisation performance package – which has long been offered on various other Volvo nameplates – is now also available for all plug-in hybrid T8 derivatives in the local line-up. “South Africa is the only market on the African continent currently offering this latest Polestar Engineered Optimisation package for the renowned plug-in hybrid T8 powertrains,” said Greg Maruszewski, Managing Director at Volvo Car South Africa. Every XC60 and XC90 Recharge plug-in hybrid derivative using the T8 Twin Engine AWD powertrain is eligible for this latest optional software-based upgrade, which enhances…

Huawei and the Southern African Railways Association (SARA) have signed a Memorandum of Understanding (MOU) with the purpose of creating a non-exclusive framework of cooperation for the transformation of the SADC region’s railway transport and corridor logistics to enable seamless, efficient, smooth, cost-effective and quality railway corridor services on all SARA Corridors. The signing took place during SARA’s annual exhibition and conference in a ceremony witnessed by Eng. Agostinho Francisco Langa Júnior, President of SARA and Guo Guoqing, President of Huawei Sub-Saharan Africa Enterprise Business and all SARA members. The MOU is designed to help address an urgent need in the railway…

For a discounted fee of only R185 – the lowest offered by a South African retailer – motorists can renew their vehicle licence online and pay either online or in-person at the Money Market counter in any of the 1 350 Shoprite, Checkers and Usave stores nationwide.    This special offer is available from 1 November 2023 until 31 January 2024 and is in response to the millions of South African vehicle licenses that expired in September and October 2023.  “With soaring living costs, times are tough for consumers. We hope to provide some relief by reducing the cost of car licence renewals and providing a hassle-free process that can be completed in just a few easy steps,” said Jean Olivier, General Manager: Financial Services at the Shoprite…

Vivica Group, which was established by bringing powerhouse local brands such as Vox, Frogfoot, Everlytic and Braintree into the same group , has unveiled its latest venture: Stage Zero, a home solar provider. This significant development marks the culmination of extensive research and innovation, reflecting Vivica Group’s commitment to sustainable energy solutions. With Stage Zero, the company aims to revolutionise the way households harness solar power, promising a brighter, eco-friendly future for all. Stage Zero is not just another provider of solar or battery backup systems attempting to position a new product, says Stage Zero CEO, Abraham van der Merwe.…

Microsoft South Africa and the Youth Employment Service (YES) have teamed up to offer innovative Artificial Intelligence (AI) training to empower 300,000 young South Africans with essential digital skills, paving the way for future innovation, employability, and economic growth. This collaboration has resulted in the creation of the AI Youth Training Platform, an initiative celebrated at Microsoft South Africa’s A New Era with AI event in Sandton. Attended by over 1,000 IT professionals and developers driving AI transformation in the country, this platform is a crucial step towards bridging the gap in AI knowledge among the youth. Together, YES and…

The South African Revenue Service (SARS), strives to always clarify and remind taxpayers of their obligation in law, as well as the potential consequences should they not comply. Notwithstanding the legal mandate of SARS to act against taxpayers who fail to comply, it is generally expected that we first remind, and give the taxpayers the opportunity to comply, ahead of SARS commencing legal action. Tax season for non-provisional taxpayers drew to a close on Monday, 23 October 2023. The SMS message that was sent out earlier this week, in relation to outstanding returns, fell short of the high professional standard…

The Greenery, the much-anticipated convenience shopping centre in Polokwane, Limpopo, celebrated its grand opening today. Co-owned and developed by the Moolman Group and Networth Group, the 11,000sqm centre will bring a fresh, upmarket and vibrant neighbourhood shopping experience right to the doorsteps of Polokwane’s residents. Named in tribute to the old municipal nursery that used to be situated on the site, The Greenery opened with 23 handpicked retailers comprising well-known favourites plus a variety of local stores and speciality services. Jannie Moolman, Chairman of Moolman Group, says, “Moolman Group is a family business from Polokwane, and this development is a testament…

AuthentifyIT, a new platform that empowers digital ownership and verification of physical objects and digital assets, announced today its exclusive collaboration with Gilbert, the world’s premier manufacturer of Rugby balls, and distribution partner Legends International, where the company will authenticate 150 replicas of the Rugby World Cup 2023 Final Ball. This collaboration between AuthentifyIT, Gilbert, and Legends preserves the authenticity of the Rugby World Cup 2023 (RWC 2023) Final Ball and also elevates fan engagement to unprecedented levels. By creating a unique digital identity for each product, fans will enjoy a new immersive experience, changing the nature and economics of…

Tata Consultancy Services (TCS) expanded its partnership with the Standard Bank Group (SBG), the largest custodian in Africa, to centralize and standardize its custody and securities settlement operations in over 15 markets with the TCS BaNCS Global Securities Processing Platform. SBG operates the largest custody network in sub-Saharan Africa with USD 635 billion in assets under custody and administration, standing at the forefront of capital market development in the continent. The bank  sought  to upgrade its existing platform and leverage next-generation technologies to further streamline its custody and settlement processes and build greater resilience in its operations by having all…

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…

Driven to offer Africans hope, dignity and opportunity, MTN Group this week celebrated the 25th anniversary of MTN Rwanda at a gala event attended by President Paul Kagame and other dignitaries.  President Kagame commended MTN for its commitment over the years: “Who else would have found it easy to invest in a country that had just emerged from our tragic history, as we know it? We took risks, both of us, you took a risk with us, and we took a risk with you, but here, 25 years later I think we can say we are happy. “ Speaking at the…

On Thursday, October 26, 2023, Vodacom Group will commence secondary trading on the A2X Stock Exchange, allowing holders of its ordinary shares to trade on this platform. The primary listing on the Johannesburg Stock Exchange (JSE) will remain unchanged, and the company’s issued share capital will not be impacted by this additional listing. This move offers investors an alternative trading venue, complementing the company’s primary listing. Vodacom Group CFO Raisibe Morathi says, “We are pleased that the secondary listing on A2X has been approved. As we grow and having recently accelerated our growth profile by completing the acquisition of a…

Outsized, a platform for top-tier independent talent in Asia-Pacific, Africa, and the Middle East, is thrilled to announce the successful completion of its Series A funding round. Led by South African venture capital firm Knife Capital, the round also includes investment from several private investors including Adrian Durham, founder of the global wealth management platform FNZ Group. The Investment enables Outsized to strengthen its position as the leading growth markets player in the global $5 billion freelance platform market. The company will grow its team in sales and engineering, expand in existing regions, and accelerate product development for both enterprise…

Write Your Future campaign launched in South Africa last month. The local campaign is spearheaded by a pilot project, which launched in Mashite, Limpopo on 20 September, with plans to roll out countrywide over the next few years. Aimed at enabling high-potential women aged between 18 and 25 through digital education, Write Your Future is being delivered in partnership with Social Coding, a Non-Profit Company (NPC) which helps under resourced communities to leverage technology for a better future. First launched in 2017, the Lancôme Write Your Future, brand social responsibility program has empowered more than 150 000 young women around…