Author: Staff Writer
Hundreds of local app developers will participate in the annual MTN Business Hackathon from 6-8 October, with the objective of designing app solutions to solve some of South Africa’s unique social challenges. From solutions to assist communities in locating critical services from the palm of their hands to developing energy efficiency awareness apps, this 60-hour hackathon hopes to bring a myriad of solutions through the talents and innovation of South Africa’s novice app developers. In their efforts to develop solutions that will contribute to the future sustainability of the country’s energy and water sectors, the Energy and Water Sector Education…
South Africa’s first truly global discretionary fund manager (DFM), Cogence, announces Jonel Matthee-Ferreira at its first Chief Executive Officer effective 2 January 2024. Cogence is the first South African DFM making leading global fund research and insights available to local advisers through a powerful collaboration with BlackRock, Discovery and RisCura. Matthee-Ferreira has almost 20 years of senior management experience in asset management, including more than a decade heading leading multi-managers. She joins Cogence from Sanlam Multi-Management, and held a similar role at Absa Multi-Management. Prior to that, she held the position of Chief Investment Officer at Metropolitan Multi-Managers. Discovery Invest CEO,…
Bank Zero now offers commercial banking. Michael Jordaan, Chair of Bank Zero, says this means that businesses of any size can benefit from Bank Zero’s uniquely simple, effective and technology-driven approach to banking. “Bank Zero is ushering an innovative new approach far from the legacy ‘me-too’ solutions of traditional banks,” he says. “We have completely rethought commercial banking to bring it into the Digital Age. We’ve built it from the ground up, which means we have no legacy systems that are both cumbersome and costly, leading to inefficiency and high bank charges.” Yatin Narsai, Bank Zero CEO, says: “It was…
Payments infrastructure company Stitch today announced a $25 million or R481 million Series A extension, led by Ribbit Capital, bringing the total raised to $52 million or R1 billion. Stitch will use the funding to continue building its end-to-end payments solutions – designed to meet complex and evolving payments needs for global enterprise clients – and expand its reach to serve more markets. In addition to Ribbit Capital, existing investors including PayPal Ventures, The Raba Partnership and CRE Venture Capital have renewed their support, and several new investors joined including 9 Yards Capital. “We’ve known the Ribbit team for a…
Baobab Payments GmbH, trading as Peach Payments, has concluded a $30 million or R578 million funding round. The round, announced in April, was led by Apis Growth Fund II (the “Fund”), a private equity fund managed by Apis Partners LLP (“Apis Partners”), a UK-based asset manager. Peach Payments is an enterprise-grade digital payment service provider that enables online payments in Africa for businesses of all sizes. In April 2023, Apis Partners announced the Fund’s intention to invest in Peach Payments as part of a funding round consisting of a mix of primary and secondary investments. “This funding has been raised…
Rosebud, an innovative new app that uses artificial intelligence to provide personalised feedback and guidance during journaling, officially launched in July 2023. Created by a Los Angeles-based startup, Rosebud aims to promote mental wellness, personal growth and productivity through tailored journaling support. “Rosebud is like having a personal coach in your pocket,” said the app’s co-founder, Chrys Bader. “It learns about you over time and evolves from a simple journal into an interactive partner that helps you process emotions, work through challenges and make progress on goals.” While journaling has long been used as a self-care tool, Rosebud brings the…
The launch of Sanlam Fintech – a business cluster within the Sanlam Group – signals a strategic move to expand the group’s existing fintech offering and ensure that all aspects of the $8-billion or R143-billion listed company’s services are digitally-led. The overarching goal is to use tech to accelerate access to financial services for all Africans, delivering on the brand’s purpose: to help Africans live with financial confidence. Gathered under the Sanlam Fintech cluster is a host of existing product houses that Sanlam – Africa’s largest non-banking financial services group – believes will be key for its digital, direct growth ambitions.…
Swoop, a fintech company specialising in funding solutions and Sage, the leader in accounting, financial, HR, and payroll technology, are excited to announce their global partnership aimed at helping businesses and accountants access a wide range of funding opportunities. The partnership will also help identify opportunities to reduce business costs in areas such as energy, banking and foreign exchange, providing a significant impact on the bottom line. By integrating their Sage accounting software once, businesses can identify more accurate funding opportunities, streamline the funding process, unlock business savings, and benefit from tools such as cash flow forecasting. “In a world…
MTN’s Mobile Money platform, MoMo, with a substantial base of nine million subscribers in South Africa, is poised to elevate itself into one of the country’s leading financial services platforms. This transformation is underway with the introduction of a range of innovative services, which encompass a business wallet, a simplified payments solution, and international remittance capabilities. The MoMo Business Wallet represents a groundbreaking development, offering businesses the means to streamline their operations and optimise efficiency. Beyond facilitating real-time payments from customers without incurring transaction fees, thereby significantly enhancing profitability, it also grants access to a vast customer base that has…
SAP today announced Joule, a natural-language, generative AI copilot that will transform the way business runs. Joule will be embedded throughout SAP’s cloud enterprise portfolio, delivering proactive and contextualized insights from across the breadth and depth of SAP solutions and third-party sources. By quickly sorting through and contextualising data from multiple systems to surface smarter insights, Joule helps people get work done faster and drive better business outcomes in a secure, compliant way. Joule delivers on SAP’s proven track record of revolutionary technology that drives real results. “With almost 300 million enterprise users around the world working regularly with cloud…
In a move to further service its clients and to expand its reach, Durban accounting, and advisory firm Ngubane has re-established its operations in Johannesburg at a new location. This decision follows the recent absorption of its resident directors and personnel in the city by an international firm. As a proudly South African operation, Ngubane’s decision not to be absorbed by another firm guarantees its continued presence in Johannesburg and underscores the distinct advantages indigenous accounting firms have to offer. The company says retaining it presence is not just about geographical coverage; it’s about providing enhanced efficiency, ensuring clients in…
The Proteas, South Africa’s men’s national cricket team, may wear homegrown Khoi Tech smart watches when they compete at the ICC One Day International World Cup. “We are close to finalising a deal to provide Cricket South Africa with our innovative Afriwatch1,” says Seati Moloi, CEO and Founder of Khoi Tech. “What impressed the Proteas’ Technical team is not only the ability to collect and report on group training data, but also sleeping data. This kind of information is critical for players’ recovery during tournaments.” Having only launched in October last year, a vote of confidence like this from the…
Pace Car Rental has raised sizeable debt on the JSE Private Placements (JPP) platform to refinance the business at a more favourable rate, while also investing in further fleet assets. JSE Private Placements – a subsidiary of JSE Limited – is an innovative way of raising private capital. To date, JPP has onboarded 36 deals raising over R6.1bn and investors who have over R18bn of capital to deploy. “JPP is an alternative way for companies and infrastructure projects to raise capital or attract investment. With this platform, we’re building a future fit capital market that pairs up private debt and…
As South Africa’s industrial hub, Gauteng Province steps up its fight against climate change amid concerns of environmental impact. Recognising its significant role in environmental degradation due to its heavy reliance on carbon-intensive energy, Gauteng Province is redoubling its efforts to combat climate change. To enhance these efforts, the Gauteng Department of Agriculture, Rural Development, and Environment (GDARDE) has announced the appointment of an expert environmental consultancy firm, specialising in this field, to craft a comprehensive greenhouse gas (GHG) inventory. This inventory system will provide essential insights into the carbon footprint resulting from the province’s economic activities. The consulting firm…
Secha Capital today announced a first close of its second fund, with R300 million in investments from blue-chip investors. RMB Ventures, 27four Investment Managers, The SA SME Fund and Caleo Capital. Founders of Sechaba Capital are Nombuso Nkambule, Brendan Mullen and Rushil Vallabh who started Secha Capital in 2017. This first close of the R650 million fund enables the team to deploy its unique Operator-Investor model. The fund invests in traditional companies across sectors in Southern Africa that are making the tech-enabled transition into the green economy. “We invest in companies at an inflection point in their growth trajectory. Most…
Pan-African telco and network services provider, Paratus Group today announced that it has entered an agreement as a distributor for Starlink’s high-speed services across the African continent. This agreement will allow Paratus to provide Starlink to its customers across Africa, as operating licenses are awarded to Starlink in those countries. Initially, and with immediate effect, Starlink will be available from Paratus in Mozambique, Kenya, Rwanda & Nigeria before being rolled out to more countries. Starlink recognises Paratus Group as a key African distributor. Starlink provides high speed, broadband internet using a simple, scalable hardware platform that can be easily distributed…
Vodacom KwaZulu-Natal is investing over R1 billion this financial year into the region’s network to increase capacity and resilience and accelerate access to connectivity throughout the province, particularly in deep rural areas. “In pursuing our aim of creating an inclusive digital society, we are making a significant investment into the region’s network. By expanding access to reliable, quality connectivity through the deployment of more sites and network upgrades, we aim to provide an exceptional network experience to our customers. With this effort, we hope to bring the benefits of digitalisation to all communities we serve,” says Imran Khan, Managing Executive,…
The number of used cars sold in August grew by a sizeable 12% month-on-month to 34,725 from 30,978 in July. And the cumulative value of used cars sold to date has now reached over R14 billion reflecting a year-on-year growth of 10.5%, reports AutoTrader. “While new car sales dipped in August, in the used car sphere the opposite happened. This could be attributed to the value benefit pre-owned cars offer buyers, which makes pre-owned cars an attractive option,” says George Mienie, CEO of AutoTrader. During the month of August, on average consumers paid R403,203 for models with a 2018 average…
Vodacom Financial and Digital Lifestyle Services has partnered with Bidvest Bank to power the VodaPay Wallet. This partnership enables millions of South African consumers to seamlessly transact within VodaPay, which offers customers a platform by which money can be transferred into their digital wallets. The VodaPay Wallet gives consumers full control of their lifestyle directly from their smartphones. It is like carrying a digital wallet around in a digital mall, allowing customers to deposit money for free, send money, shop at their favourite retailers, order food, and even pay bills and traffic fines at no extra charge all from one…
Truecaller today announced a corporate rebranding and launch of a brand new app icon that will be instantly recognisable on the Google Play Store and Apple App Store. The timing of the new brand identity aligns with a significant transformation taking place in the digital space. At the heart of this rebranding is Truecaller’s renewed sense of purpose, energy and enthusiasm. “We are excited to unveil our new brand identity and logo. It signifies our continued commitment to our users and our focus to constantly evolve and improve, every day,” Alan Mamedi, Co-founder and CEO, Truecaller said. “Our mission, to…
The future of technology belongs to thought leaders, trailblazers and trendsetters. If that’s your world, don’t miss this year’s Dell Technologies Forum on 9 November. It’s the best opportunity to immerse yourself in the latest technology products and solutions, connect with industry pioneers and experts and explore technical sessions customised just for you. The hot topics at this year’s event include Generative AI (GenAI), multicloud and As-a-Service, modern data infrastructure and edge, security and the Future of Work. Attendees will learn more about AI readiness and digital fluency; the future of ethics and economies and what to expect from machine…
Panda Health believes that individuals should invest proactively in their mental health just as they do with their physical health. To encourage this, Panda Health has launched a rewards programme that offers users discounts on a wide range of products. Through the Panda mobile app, users can now earn points and rewards by engaging with various features. “When we launched Panda, we identified three barriers hindering access to mental health care in South Africa: stigma, cost, and lack of triage. What wasn’t immediately obvious to us was the potential lack of motivation among individuals to prioritise their mental well-being. This…
The University of the Witwatersrand (Wits) announced its Postgraduate Diploma in Innovation and Entrepreneurship. The diploma aims for graduates and third-year students in engineering, science, and health sciences to become catalysts for business ownership and job creation. Apply for the PG Dip in Innovation and Entrepreneurship before 30 November 2023. Professor Christo Doherty, the course coordinator says: “We particularly encourage candidates who are contemplating pursuing a Master’s or PhD in any of these fields, so they can embark on advanced degrees armed with the knowledge of how to commercialise their research. Graduates of this programme will have a wealth of…
Vodacom today announced “Enhance” a first-in-the-market, allowing customers the ability to add their personal touch and augment their contracts – giving them the choice and control to build their world of connectivity, entertainment, and gaming, all in one. The simplified value proposition brings convenience for customers and is designed to transform the way they experience their mobile contracts. Enhance is more than a traditional contract– it affords customers the ability to personalise their package to reflect their lifestyle, whether they are a gamer or a fitness enthusiast. “We are cognisant of the fact that in today’s fast-paced world, consumers seek…
Google has today revealed that searches for artificial intelligence, or AI, are at an all-time high in South Africa. Search trends show that people have searched for AI more than ever in 2023 so far, with interest rising 230% since last year – and 700% over the last five years. Searches for “what is AI technology? (+1,700%), “how to invest in AI?” (+950%), “who created AI?” (+650%) and “how does artificial intelligence work?” (+500%) are all trending this year. Google, which released their conversational AI service Bard in South Africa in March, sees AI as having huge potential to help…