Author: Staff Writer
The Financial Sector Conduct Authority (FSCA), with the concurrence of the Prudential Authority and the South African Reserve Bank, has cancelled ZAR X’s exchange licence with immediate effect. In a statement, FSCA said the cancellation of ZAR X’s licence follows its prolonged non-compliance with section 8(1)(a) of the Financial Markets Act, 2012 (Act No. 19 of 2012) (FMA), read with Regulation 8 and 43(2) of the FMA Regulations, 2018, which relate to the liquidity and capital adequacy requirements of an exchange. The licence was suspended effective 20 August 2021. In line with section 60(4) of the FMA, ZAR X is…
Today, neobank Be Mobile Africa has announced the launch of its cryptocurrency exchange platform South Africa. This will enable individuals to buy and trade cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL) as well as USD stablecoins such as USDC. The service is live and available immediately to all South African users. Users are able to convert ZAR to crypto, and visa versa. Despite the challenges faced by the tech industry and the crypto market in 2022, Be Mobile Africa, which launched in South Africa last year, has experienced significant growth in both user registration. Historically, the platform has…
Savii, the financial platform designed for teens and young adults, today announced their official product launch in the UAE. The Savii banking app and Visa prepaid card allows teenagers and young adults to make payments independently and relieve parents of the anxiety of giving them premature access to their own credit card. “If you are a parent, giving your teens some financial responsibility early on is a smart move. They’ll get to flex their money management skills, like budgeting and saving, learn the value of a dirham and begin to appreciate the consequences of overspending.,” Jane Harvey, Co-founder and CEO…
Attacq, the JSE-listed REIT developing Waterfall City, announced that it has entered into a non-binding term sheet with the Government Employees Pension Fund (GEPF), represented by the Public Investment Corporation (PIC). The GEPF will acquire a 30% interest in the ordinary shares and shareholder loans held in Attacq Waterfall Investment Company (AWIC), a wholly owned subsidiary of Attacq and the owner of Waterfall City. “We are pleased by this transformative transaction for Attacq, to introduce the GEPF as a long-term strategic investment partner to AWIC.,” Attacq Chief Executive Officer, Jackie van Niekerk said. “Working closely alongside our new partners, we…
Empowerment, confidence, and technical ability are powerful forces. When combined and put to use in environments where circumstances have denied people access to learning, they can change lives. This can be seen through Estelle Olifant, an ICT entrepreneur who has combined her passion for tech with concern for women who suffer from social ills, which often lead back to gender-based violence. Showing how learning can transform lives and build a profitable business led to her winning R100 000 as one of the ten finalists in the MTN Foundation’s Women in Digital Business Challenge. At a superficial glance, Olifant’s business, Swiftstar…
Valentine’s Day is a time of romance and connection, but for businesses in the dating website and dating app industries, this time of year can bring extra worry due to the risk of chargebacks, a term for forced refunds initiated by a card holder with their issuing bank. Chargebacks can be detrimental to a business’s bottom line, and as such, operators of romance sites and apps must be aware of the potential risks and how to combat them. The increased usage of dating apps and websites around Valentine’s Day is not surprising, as people tend to look for companionship around…
AWS has collaborated with Leading tech NPO, GirlCode to balance the scales. GirlCodes’ mission is to bridge the gender skills gap in tech by providing a digital learning and growth hub for young girls who want to get into tech. Completely online and completely free, what started as a hackathon for women in 2014, GirlCode now boasts 3 online courses to bolster various tech skills – one of which is the AWS Cloud Practitioner course. An eight week bespoke cloud boot camp was developed to prepare the participants to take the AWS Certified Cloud Practitioner exam and provide them with…
Volvo Car South Africa has announced that local order books for the new fully electric C40 Recharge have officially opened.  Available online through the My Volvo website and offered exclusively in flagship Ultimate specification, the Swedish firm’s latest electric vehicle bears a starting price of R1 285 000. South Africa’s initial allocation is 50 units, with the first customer cars scheduled for delivery in June 2023.  The purchase price furthermore includes the Volvo Care package, which comprises a five-year maintenance plan and warranty (with the battery pack covered for eight years or 160 000 km), a home charging…
The digital economy offers Eswatini a range of opportunities to improve economic development and enhance public and private services, highlights a World Bank Digital Economy Diagnostic for Eswatini that launched today. The report provides an assessment of the five pillars of Eswatini’s digital economy comprising digital infrastructure, digital platforms, digital financial services, digital skills, and digital entrepreneurship. The Digital Economy for Africa (DE4A) is part of the World Bank’s support for the Africa Union’s Digital Transformation Strategy for Africa, which aspires to see every African person, business, and government digitally enabled by 2030. Eswatini could benefit from a digital revolution,…
Teraco: A Digital Realty Company, a leading carrier-neutral data centre and interconnection services provider in South Africa, today announced the acquisition of the iconic Great Westerford building in Cape Town from Ingenuity Property Investments. Great Westerford, a landmark building with over 30 000sqm of premium grade office space, is situated in the prime location of Rondebosch, Cape Town. The conclusion of the acquisition means that Teraco has ownership of the building that houses its CT1 data centre investment and results in the full ownership of all facilities and the underlying land that support Teraco’s leading, carrier neutral colocation portfolio. CT1…