Author: Staff Writer

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:

In the affluent neighborhood of Morningside, a sprawling mega-mansion, once the pride of troubled businessman Edwin Sodi, has officially been listed on the market, beckoning potential buyers with its jaw-dropping price tag of R75 million. This lavish estate, emblematic of luxury and opulence, now stands as a testament to Sodi’s tumultuous journey, offering a glimpse into the highs and lows of the business world. As interested parties flock to explore this iconic property, its sale marks a pivotal moment in Sodi’s narrative and signals a new chapter for both the mansion and its enigmatic owner. According to a Sunday World…