Subscribe to Updates
Get the latest technology news from TechFinancials News about FinTech, Tech, Business, Telecoms and Connected Life.
Author: Staff Writer
Vumacam and NAVIC are joining forces in an alliance aimed at extending the reach and influence of the SafeCity initiative throughout South Africa. Up until now, the initiative has solely relied on Vumacam technology and cameras. This collaboration, supported by infrastructure and technology, strengthens SafeCity’s fundamental principles of community, collective accountability, and the ability to foster a safer environment for all communities, irrespective of socio-economic backgrounds. The alliance will support the SafeCity initiative and is set to immediately enhance coordinated efforts to tackle crime in South Africa. Vumacam and NAVIC will combine their technology and extensive networks to combat crime…
The Pretoria High Court on Tuesday dismissed an application by Kwaito music guru Arthur Mafokate to have his property released from a preservation order. On 21 December 2022, the Asset Forfeiture Unit (AFU) of the National Prosecuting Authority (NPA) obtained an order to preserve Property 85 Carslwald Road, Midrand belonging to Mafokate, the sole member of 999 Music. FILE PHOTO: The R7.5 million guest house known as La Villa Rosa in Midrand Allegations are that Mofokate used his nonprofit organisation (NPO), the SA Arts and Development Association (SAADA), to siphon the funds, which he used to buy property. The allegations…
Huawei, the leading global vendor of digital power products and solutions, underlined the importance of energy storage and safety for residential Solar PV systems during the launch of its Fusionsolar Residential Luna 2.0 Smart PV solution into the South African market. The launch, which took place in Sandton, highlighted the growing importance of residential solar PV in addressing South Africa’s energy needs, while also showcasing its superior safety measures and their importance. Energy storage systems in particular have become increasingly vital in addressing the challenges of an unstable power grid and frequent power outages. The country faces issues of electricity…
Each year, sales of fully electric vehicles (EVs) are more than doubling, with the used car market seeing a 133% increase in EV sales in 2023 when compared to 2022 sales¹. However, South African consumers are still anxious about range, expressing specific concerns about the distance that EVs can travel on a single charge on the open road. Now in its third year, AutoTrader’s annual #ElectricCarChallenge is designed to address these concerns and set a national benchmark for electric mobility in South Africa. The intention of the #ElectricCarChallenge is to establish the distance that EVs can achieve on a single…
Cell C today announced it has appointed Darius Badenhorst to the role of Chief Growth Officer, effective February 2024. His exceptional track record and 14 years’ experience in Financial Services and Telecommunications bring a new level of ability to propel Cell C’s growth and innovation strategies. As Chief Growth Officer, Badenhorst will be responsible for overseeing crucial areas of business development, customer retention, and customer relationship management throughout the value chain and lifecycle to further accelerate growth. His extensive background in quantitative analysis and financial engineering will be instrumental in navigating the evolving telecommunications landscape . Jorge Mendes, CEO of…
The multisite Johannesburg Internet Exchange (JINX) has completed the installation of high-speed dark fibre across the span of the entire network to radically boost the exchange’s resilience and backbone capacity in 2024. “Successful digital transformation centred around the generation of e-GDP depends on the infinite bandwidth that dark fibre enables,” says INX-ZA chair, Prenesh Padayachee. Dark fibre rolled-out between the six data centres where JINX is located provides virtually unlimited future network capacity. INX-ZA can now easily enable additional capacity between sites as more peers connect to the JINX peering fabric. JINX data centre locations presently include: Dimension Data Parklands…
According to Sunday World, WideOpen Platform, headquartered in Johannesburg, has initiated the process of liquidating the well-known sneaker brand Drip Footwear due to its failure to settle debts exceeding R20 million. WideOpen Platform has lodged the necessary documents in the Johannesburg High Court, requesting the liquidation of Drip, citing its insolvency and incapacity to meet financial obligations. Furthermore, WideOpen Platform plans to pursue legal action against Drip’s owner, Lekau Sehoana, for defaulting on the debt despite having signed a surety agreement on behalf of the company. “The respondent is currently indebted to the applicant in the sum of R20 442…
In large corporations, digital transformation is impacting every customer touchpoint, yet this rapid innovation for operational advancement could be what exposes them to operational risk. The uptake of bespoke third-party software solutions is essential to enable Financial Services and Insurance companies to meet the demands of their daily business operations. But what happens if your third-party software vendor goes out of business or is unable to maintain services? Software escrow is internationally accepted as best practice to manage the risks associated with exposure from third-party software providers. It is a customised legal agreement between the software developer, the user, and the software escrow agent. This…
Chief Executive of the Transnet National Ports Authority (TNPA) Pepi Silinga has taken a leave of absence to allow investigations of alleged impropriety to proceed without the perception of interference. On Saturday, Transnet confirmed the development saying it had accepted Silinga’s offer to take a leave of absence. The struggling State-owned company, which received an R47 billion bailout – under a guarantee facility -from the Treasury, said in a statement that Advocate Phyllis Difeto will be assuming the role of Acting Chief Executive of TNPA “with immediate effect”. Transnet, which professes to have a zero-tolerance stance on corruption, and malfeasance,…
The Financial Sector Conduct Authority (FSCA) warns the public to be cautious when conducting financial services business with Livestock Wealth Financial Services (Pty) Ltd (Livestock FS) and Livestock Wealth (Pty) Ltd (Livestock Wealth). “It has come to the attention of the FSCA that Livestock Wealth may be unlawfully offering members of the public investment into livestock and/or agricultural product(s), offering profitable returns upon maturity of the livestock and/or agricultural product(s),” said FSCA. The Authority points out that Livestock Wealth is not authorised to render any financial services related business in terms of the Financial Advisory and Intermediary Services Act, 2002…