Author: Staff Writer
South Africa’s digital bank TymeBank is buying Retail Capital, a FinTech company that provides funding to small and medium-sized businesses in South Africa. The acquisition is part of the bank’s plan to bolster its business banking offering. The acquisition, which is subject to regulatory approvals, would see Retail Capital become a division of TymeBank and the foundation of the bank’s expanded business banking offering. Access to Finance The deal would see Retail Capital’s funding expertise and TymeBank’s deposit base and operations combined to serve a broader customer base. TymeBank believes being able to channel funding efficiently to business owners in…
Netflix today announced the release of its upcoming supernatural drama The Brave Ones, launching this Spring, on 16 September 2022. Created by renowned film director, writer and actor Akin Omotoso, the captivating six-episode series unfolds in the parallel worlds of modern-day South Africa and the supernatural world of African gods and divine beings. Set in modern-day South Africa, this captivating supernatural series is inspired by the rich mythology of African gods and divine beings. It tells the story of ordinary township girl Ntsiki, who discovers she is a mystical being who must harness her powers to protect the community and…
Every second, 22 online car searches are conducted, borne out by the over 349 million online car searches made in the first half of 2022, according to AutoTrader, South Africa’s largest motoring marketplace. Tellingly, the unique data leveraged from these searches and contained in the 2022 AutoTrader Mid-Year Industry Report, show a shift in car shopper preferences, among these rising interest in electric vehicles (EVs). The compelling report, which covers the period January to June 2022, reveals a 134% year-on-year increase in EV demand. A wide range of valuable car shopping insights, among them demand and supply trends in the…
DIGITAL REALTY, the largest global provider of cloud- and carrier-neutral data centre, colocation and interconnection solutions, announced today it had completed the acquisition of the majority stake in Teraco, Africa’s leading carrier-neutral colocation provider, from a consortium of investors, including Berkshire Partners and Permira, in a transaction valuing Teraco at $3.5 billion or R55.6 billion. As South Africa’s largest and most densely interconnected data centre platform, Teraco supports the rapid growth of the continent’s Internet community through its expanding portfolio of data centres. Teraco’s experienced management team, growing multi-national client base, quality infrastructure and ownership of NAPAfrica, the continent’s largest Internet Exchange Point, are…
David Hirsch, the owner of retail venture, has opened the company’s first tech retail store at Rosebank Mall. Hirsch is a former Incredible Connection executive director and established TechMarkit last year. TechMarkit first started as an online store but quickly evolved to the physical realm when Hirsch realised that people like to see what they are buying, especially regarding technology. He also found that his customers prefer speaking to an actual person because of the long list of questions that they want to ask before parting with their hard-earned money. He also understood that South Africa only has 30% PC…
The global market launch of the new BMW 7 Series range commences in the fourth quarter of 2022. Indicative pricing for the new 7 Series in South Africa (including VAT and excluding CO2 tax) is as follows: BMW 740i BMW 740d xDrive BMW i7 xDrive60 Design Pure Excellence R2,160,000 R2,280,000 R2,825,000 M Sport Package R2,235,000 R2,355,000 R2,900,000 M Sport Package Pro R2,275,000 R2,395,000 R2,940,000 Simultaneously, BMW South Africa is able to reveal indicative pricing for the new BMW X7. The BMW X7 will be available in South Africa from the fourth quarter of 2022, too. BMW X7 xDrive40d BMW…
“Block porn before your child sees it”, did you ever think these words would pass your lips? I certainly didn’t, but we live in a world that is so much bigger than what we are exposed to and know off. Porn is very real, and your kids are being served this on the internet. Let’s delve a little deeper… Whether your kids are babies, threenagers or teens – our job as parents is to protect them from any-and-everything trying to hurt them or take away something from them. With 20% of porn viewers in SA being underage and 20% of…
Key to unlocking value chains, especially in the tech startup space, is the ability of large, established corporates to work effectively with small, agile start-ups. Big corporations partnering with startups is an untested and undeveloped space. Few models have been developed to date and examples of successful collaboration are few and far between. As such, the success of Standard Bank’s recent direct minority equity investment into Tripplo, a tech-enabled logistics solution “highlights the power of both Standard Bank’s future-ready strategy as well as its ecosystems approach in building and managing successful partnerships with start-ups,” says Sacheen Kala, Head of the…
The Shoprite Group is expanding its ecommerce presence by taking its Petshop Science brand online. This comes as the pet economy continues to grow in South Africa – in just one year, Petshop Science has opened 22 physical stores around the country. Petshop Science Online offers a broad selection of more than 2 000 pet-related products. These include food, treats, toys, and more from premium brands like Hills, Montego, Dog’s Life, Eukanuba, Ultra Dog, Royal Canin, Rogz and Nandoe. With the pet sector in South Africa now worth over R7 billion, the Group continues to expand its pet-related offerings. It launched pet insurance in 2020…
Rand Merchant Bank (RMB), in partnership with two other commercial banks, acted as Mandated Lead Arranger, of a EUR90m 10-year senior debt financing package for the Terminal Industriel Polyvalent de San Pedro (TIPSP), in Côte d’Ivoire’s secondary port, San Pedro. The concession is a 35-year agreement between TIPSP and the Autonomous Port of San Pedro, the state-owned port authority, encompassing the design, construction, financing, operation and maintenance of a greenfield multipurpose bulk terminal. The concession grants TIPSP exclusive rights to handle the import of cement clinker, gypsum, limestone, as well as fertilizers and hydrocarbons and the export of manganese, nickel…
The MINI Concept Aceman provides an initial glimpse of a completely new vehicle, bridging the space between the MINI Cooper and the MINI Countryman in the model family’s future, says Stefanie Wurst, Head of the MINI Brand. “This concept car reflects how MINI is reinventing itself for its all-electric future and what the brand stands for: an electrified go-kart feel, an immersive digital experience and a strong focus on a minimal environmental footprint.” The first MINI crossover model for the premium small cars segment is striking, with purely electric drive, a clear and pared-back design language that has been dubbed…
Vodacom Mpumalanga will invest R600 million into the network this financial year, to accelerate coverage reach and network capacity, and provide access to affordable, high-quality connectivity. This will meet the increasing demand for internet services, while driving digital inclusion throughout the region. “In the past two years, Vodacom Mpumalanga has spent R1 billion on network upgrades and solutions to support our transition from telecommunications operator to leading technology provider. Through this investment we have been able to deploy more sites, upgrade our current base stations and expand connectivity through the roll out of next generation technology and fibre, particularly to…
Standard Bank has successfully finalised a R5 billion debt finance package for MetroFibre Networx, supporting its continued fibre-optic data network rollout across South Africa. The financing will be used to expand MetroFibre’s world-class fibre connectivity into homes and businesses in underserviced communities across South Africa and is set to contribute to increasing Metrofibre’s reach by an additional 500 000 households across South Africa. “Partnerships such as these are a testament to how doing good in business is good for business, and in this case empower South Africans through digital inclusion to foster meaningful social impact.” says Nishela Ramgoolam, Executive: Structured Capital…
With the release of their new yield management tools, AgriTech business Aerobotics’ growers can now measure, manage and protect their yields directly from the Aerobotics platform. Aerobotics is pioneering the use of computer vision for the precision farming of perennial crops. Over the past seven years, Aerobotics has collected perennial crop imagery from more than 400 thousand hectares with 200+ growers to identify 195 million+ plants. Aerobotics is a subscription-based artificial intelligence (AI) company that provides intelligent tools for the agricultural industry to manage its crops. Aerobotics, founded by James Paterson and Benji Meltzer in 2014, is a leader in…
Vantage Data Centres, a large, US-headquartered data centre specialist, today announced the delivery of the first facility on its Johannesburg campus, as well as the start of construction on a second data centre on its Frankfurt II campus. Johannesburg Campus (JNB1) Positioned within the continent’s largest data centre market, Vantage opened its first data centre (JNB11) in Africa after breaking ground in 2021. The two-story facility offers 16MW of critical IT capacity across 130,000 square feet (12,000 square meters). The project was delivered in 10 months, ten days ahead of schedule, with zero lost-time incidents over 1.5 million working hours.…
The rapid advancement of technology has made our lives easier in countless ways. Unfortunately, with these advances has come an increase in cybercrime as online fraudsters adapt their strategies to reach new victims. In the past, criminals used manual processes to scam victims by mailing letters, sending faxes, and making phone calls, but modern tech has put a new spin on old fraud schemes, and today’s fraudsters are using email, messaging platforms and social media to reach targets inexpensively and easily. The tech savvy among us often think that we are safe from these types of crimes, believing that only…
In celebration of Mandela Day 2022, Huawei South Africa and the Department of Home Affairs partnered up to donate gift packs to newborn babies at Queen Nandi Regional Hospital in Empangeni, KwaZulu Natal. As well as handing over gift packs to the Madiba Day babies, Huawei and the department made a monetary donation to the hospital and hosted a special Mandela Day event. The event was part of a broader Mandela Day campaign, which included an open day for civic registration and is the latest in a series of fruitful collaborations between Huawei and the department. Also benefitting from the…
Adevinta ASA has signed an agreement for the sale of Gumtree South Africa (Gumtree SA), to Impresa Capital, majority shareholder of Ignition Group, one of Africa’s largest investors in technology, media, telecommunications and financial services. The transaction is subject to regulatory approval. Gumtree SA’s operations were classified as discontinued operations and the impact on the Group’s financials is considered immaterial. “We are delighted to bring Gumtree SA back to its home roots in South Africa, and to expand on the Gumtree platform with new products and services that will benefit Gumtree customers, both consumers and businesses alike,” Sean Bergsma, Ignition…
TymeBank CEO Coen Jonker, who took over the reins on 1 July 2022, has settled on a new leadership team, picking one insider and two outsiders as the digital bank focuses on boosting its growth trajectory and unique value proposition. TymeBank, South Africa’s fastest growing digital bank, has appointment three new executive committee members, all of whom will report directly to Jonker. The latest appointments bring additional strength and diversity to TymeBank’s senior leadership team. The following people have joined TymeBank’s executive committee: Yusuf Dockrat, Chief Financial Officer Yusuf Dockrat is a qualified Chartered Accountant with 20 years of financial…
Liquid Cyber Security, a business of Cassava Technologies, today launched the first of its matrix of Cyber Security Fusion Centres in Johannesburg, South Africa. With this Fusion Centre, Liquid aims to bolster the cyber security industry in the country by managing the growing threat of cyberattacks to governments and enterprises of all sizes. For the first time, African businesses and governments will have access to Liquid’s matrix of Security Fusion Centres across key markets. These centres will provide threat intelligence and bring together the existing Liquid Cloud Operations and Liquid Network Operation Centres, ensuring customers have full support across cyber…
The Cotton On Group has long been loved for the brands and trend-driven value products it has brought to South Africa’s shores, such as Cotton On, Typo and Factorie. The retail group has increased its presence in the region by investing in a R 300 million custom-built new central office and distribution centre in Waterfall, Gauteng’s latest growth node. The new premises will demonstrate the group’s commitment to sustainability and enhance its customer experience given its strategic location. Situated in Waterfall Logistics Hub, construction of the 22 000 sqm purpose-built campus commenced in January 2021, and since June 2022, 2.2…
The South African trade union Solidarity has threatened to take legal action against Eskom if the National Energy Regulator of South Africa (Nersa) approves its R938 monthly tariff for solar power users. Solidarity described the Eskom application submitted to NERSA as “absurd, irrational and unlawful,” stating that if accepted, it would oppose the proposal with all legal recourse at its disposal. This comes after Eskom, in its latest application, requested that a tariff of R938 per month be levied on consumers who are generating power themselves. According to Solidarity, South Africa’s only hope of getting out of the power crisis…
Volvo Car South Africa has announced pricing for its highly anticipated XC40 P6 Recharge, billing the new single-motor model as ‘the most affordable’ all-electric luxury vehicle on the local market. The order books will officially open on Tuesday 26 July at 8am, with the XC40 P6 Recharge available exclusively online through the My Volvo website from a starting price of R1 075 000. A limited number of units will be offered, with priority given to the existing waiting list. Cars are scheduled to arrive in South Africa later in the year. Greg Maruszewski, Managing Director at Volvo Car South Africa,…
Scatec ASA, a Norwegian renewable energy solutions provider, announced today it had started construction of three Kenhardt projects in the Northern Cape Province of South Africa under the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP) after reaching financial close. Once operational the project will have a total solar capacity of 540 MW and battery storage capacity of 225MW/1,140MWh, and provide 150 MW of dispatchable power under a 20-year Power Purchase Agreement to the Kenhardt region – in a country that is currently suffering from power shortages. “Achieving commercial and financial close for the Kenhardt projects shows true commitment by…
The BMW IT Hub is the fastest growing business unit in the BMW Group, aiming to provide 2,000 jobs by 2023. On its journey towards this goal, the hub is searching for new talent in South Africa. The BMW IT Hub will host #TechTalentDays from 27-28 August 2022 and invites Full Stack Developers and DevOps Specialists on Microsoft Azure and Amazon Web Services (AWS) to join. Global IT solutions for sustainability and success. Based in South Africa, the BMW IT Hub provides IT solutions for various business areas in the BMW Group. The hub focuses on innovation topics and comprehensive…