Author: Staff Writer
Four-year-old card-linked instalment platform Float has secured $2.6 million (R46 million) in funding co-led by Invenfin and SAAD Investment Holdings, with participation from all existing investors, including Platform Investment Partners. Lighthouse Venture Partners also participated and played an advisory role on the deal. The funding will be used to scale Float’s South African operations, enhance its proprietary technology platform and prepare for future market expansion as the company continues its triple-digit growth trajectory. Float is reimagining how consumers use credit by providing a budget-friendly, interest- and fee-free instalment solution that promotes responsible spending and greater affordability. In an economic environment…
Recent used car sales trends hint at which vehicles are capturing attention and setting the pace for South Africa’s eco-friendly motoring transition. Hybrid vehicles are leading South Africa’s shift to cleaner motoring, with New Energy Vehicle (NEV) sales increasing 82% year-on-year (YoY). According to AutoTrader’s latest Mid-Year Industry Report, conventional hybrid vehicles are leading the transition to electric cars in South Africa. In fact, hybrids account for 84% of all NEVs sold between January and June, making them the actual driver behind eco-friendly transport in South Africa. At the forefront of this trend is the locally manufactured Toyota Corolla Cross…
Together with RMB Private Bank, medical scheme, Profmed launched a dual-benefit designed to help emerging professionals protect their health and manage their finances through one intelligent solution. This market first bundles upfront medical cover, smart credit features, and career-relevant lifestyle rewards into a single dual-benefit solution that is purpose built for young professionals who don’t want to lose pace in their upward trajectory. Craig Comrie, Profmed Principal Officer and Chief Executive says the aim is not to dictate what professionals should be doing to grow their careers. “We’ve listened to what they need to support their ambitions and dreams,” he…
On World EV Day, a recent survey of over 6,700 South African car owners highlights a significant shift in perception, with growing interest in Plug-in Hybrid Electric Vehicles (PHEVs) and EVs. For many diesel owners, Volvo’s electrified lineup is proving to be the perfect bridge, offering the performance and flexibility they expect, but with greater efficiency and lower running costs. The data shows that 60% of diesel owners are likely to consider a hybrid within the next 3-5 years, viewing them as delivering the “best of both worlds.” Hybrids Hit the Sweet Spot for Performance Volvo PHEVs are designed to…
As the nature and complexity of cyber threats rapidly evolves, companies have realised that they must look beyond purely tech solutions and equip their employees with the skills to safeguard the business against attack. However, Mimecast has found that while 86% of organisations now train employees at least quarterly to identify and report threats, a significant 43% still cite lack of employee awareness as their top concern, indicating that traditional training is simply not up to the task. “Most organisations remain doggedly focused on protecting against external threats including cloud services, exposed email accounts, and domain risks. This is often…
A staggering 39% of South Africa’s domestic workers are paid below the National Minimum Wage, a new report reveals, forcing thousands into a desperate cycle of debt as the cost of living soars. The 2025 Sweepsouth Annual Report on Domestic Worker Pay and Working Conditions, which surveyed 5,039 workers, found median monthly earnings are just R3,635. This falls nearly R900 short of the R4,500 required for basic monthly expenses, creating an impossible gap for the 82% of workers who are the main breadwinners for their families. The Deepening Crisis The financial strain is widespread and devastating. One in three workers…
The annual Red Socks Golf Day, hosted in partnership with McDonald’s South Africa suppliers, took place recently, raising significant funds for the continued operation of Ronald McDonald House Charities (RMHC) South Africa. This long-standing event highlights the power of collaboration and shared purpose, ensuring that families can find comfort and support during their most difficult times. RMHC South Africa is an independent non-profit organisation governed by a Board of Directors and operated by dedicated staff and volunteers. Its mission is to create, find, and support programmes that directly improve the health and well-being of children and their families. This year’s…
The latest Cost of Living Report by the Competition Commission paints a sobering picture of the pressures South African households face. For township entrepreneurs, the crisis is even more acute because it affects both their homes and their businesses. Key findings from the report: Food and non-alcoholic beverages account for 40% of spending in the poorest households. Over the past five years, electricity prices rose 68% and water prices 50%, both far above inflation. Transport costs, driven by taxi fare increase, continue to erode disposable income. Education costs have risen 37-42%, while internet access- now a basic business tool -…
Vodacom Eastern Cape region is investing more than R400 million in network infrastructure this financial year, underscoring its commitment to expanding coverage, enhancing capacity, and empowering deep rural communities across the province. This investment will drive the rollout of advanced technologies, including 4G and 5G, and extend connectivity to underserved rural areas. Of the total spend, over R38 million is allocated to network modernisation to enable 4G and 5G technologies, with more than R87 million dedicated to network capacity expansion. Over R8 million will go towards core network upgrades to support network infrastructure needs. Transmission infrastructure investment for the 2025…
Huawei South Africa and Henley Business School Africa have completed the fourth edition of the Women in Tech Digital Skills Training Programme with 40 women entrepreneurs and government leaders, preparing them to scale in a rapidly digitising economy. Launched in 2021, Huawei Women in Tech has become a modern incubator for tech-curious women. More than 300 participants have now taken part in the programme, which combines practical leadership development with exposure to cutting-edge digital technologies. This year’s cohort included entrepreneurs and senior women managers from the Department of Employment and Labour (DoEL) and the Department of Small Business Development (DSBD),…