Author: Staff Writer
Kyndryl, the world’s largest IT infrastructure services provider, has announced the appointment of Andreas Beck as the company’s Managing Director in the Middle East and Africa, with predecessor Vickram Nagi taking on a new role as vice president, Delivery Transformation Leader at Kyndryl. Beck returns to the region with a wealth of experience, working across numerous regions, industries and business units. Most recently, he served as Chief of Staff to Kyndryl’s Group president. Based out of the company’s headquarters in New York, Beck was leading strategic initiatives around the formation of Kyndryl and ensuring alignment of business strategy and priorities…
This month, commentators were abuzz after an exchange launched with a pan-African focus. MARA became the official partner of the Central African Republic with $23 million of funding, and commentators began speculating. So, what is the future of African cryptocurrency exchanges? “The CAR is the second country to make Bitcoin legal tender, but the conditions are all wrong for success. If you look at the demographics and the technological infrastructure, the move was symbolic more than economic,” said Richard Gardner, CEO of Modulus, a US-based developer of ultra-high-performance trading and surveillance technology that powers global equities, derivatives, and digital asset exchanges. “If you’re…
Vodacom has launched a follow-up to its stimulating #CodeLikeAGirl programme that will see 700 girls between the ages of 14 and 18 receive coding training from 27 June – 15 July 2022. The Vodacom #CodeLikeAGirl programme is aimed at inspiring more girls to explore careers that require coding skills to help them get a start in the Science, Technology, Engineering, and Mathematics (STEM) fields and industries. Often referred to as the jobs of the future, STEM drives innovation, social wellbeing, inclusive growth, and sustainable development the world over. Female participation is lagging in STEM fields in most countries. A report…
Africa Data Centres, part of the Cassava Technologies Group, a pan-African technology group, announced today is building a second data centre in Cape Town, South Africa. The new 20MW facility will cover 15,000 square meters in eight data halls and is situated on the northern periphery of Cape Town city centre. According to Tesh Durvasula, Chief Executive Officer of Africa Data Centres, there is a clear pipeline of demand for colocation space that cannot be served from the existing Diep River data centre. “The new Cape Town facility is a critical part of Africa Data Centres expansion drive in the area”.…
As part of Uber’s commitment towards safety, the company has initiated a Safety Sessions Programme in collaboration with South African Police Service (SAPS) to help address the safety concerns raised by drivers and delivery people on the Uber platform. During these sessions, held in Pretoria, Johannesburg, Durban and Cape Town over the past several months; SAPS officials were brought together with drivers on the platform to better understand the realities on the ground and how best to partner to assist in improving the safety of all. “We believe that e-hailing drivers should have regular engagements with SAPS officials in their…
South Africa’s digital systems aggregator and solutions provider, Nexio, a subsidiary of the Vodacom Group, has appointed Ed Gassner as the company’s CEO on an interim basis with immediate effect and until a permanent replacement is appointed. Gassner’s appointment follows last week’s resignation announcement of Mickey Mashale, who had been at the Nexio helm since August 2020. For more read: Mickey Mashale Steps Down As CEO Of Nexio, A Subsidiary Of Vodacom Gassner holds a B.Sc. Mechanical Engineering degree from WITS University and has extensive executive leadership experience spanning 30 years, specialising in technology companies. His most recent permanent role…
MTN Group today announced the appointment of Riaan Wessels as Chief Risk Officer: FinTech with effect from 1 July 2022. Riaan has 13 years’ experience at MTN. He first joined the company in 2004, as General Manager: Business Risk Management and returned in 2017 as Group Executive: Risk and Compliance. “As Chief Risk Officer: Fintech, Riaan will continue to add immense value at MTN by effectively managing risk exposures to the business and ensuring robust processes and controls,” said Serigne Dioum, Group Chief Fintech Officer. Over the past 20 years, Riaan has implemented complex programmes at multinational companies in the…
Ride-hailing services, such as Uber, are transforming the way we move around. A few clicks on a smartphone can have you on your way in no time, meeting the modern consumer’s need for on-demand, accessible and convenient services. According to a recent report by Genesis Analytics and the Financial Sector Conduct Authority (FSCA), data from the South African Police Services shows that carjacking incidents have increased across the country over the past three years (2018 – 2020), jumping by a 10% compound annual growth rate (CAGR). To provide quick and reliable private armed and medical response to riders and drivers…
Audi South Africa is pleased to announce the appointment of Mulalo Makungo (Ratshikhopha) to the role Audi National Sales Operations Manager, officially from 1 April 2022. She brings with her over ten years’ experience in the automotive industry and has worked with the Barloworld and McCarthy Groups at Head Office level and across various other brands in the automotive sector, including BMW, General Motors, Burchmores and Traders Online. More recently, Mulalo held the position of Business Manager for the Volkswagen Brand since 2017. During her career, she has gained a firm understanding and appreciation for the Dealer retail environment and…
The banks and financial services of the future will have several different manifestations due to the impact of financial technology and the Internet as financial providers can collect vast amounts of user data from various sources. However, the majority of this data gets unused or remains unstructured, or is not analysed. The data could be either valuable data or unnecessary, how can businesses tell? Iron Mountain, the global leader for storage and information management services enabling digital transformation, has released the Smart and Secure Data Management In A Circular Economy guide on how to answer this question as well as…
Backbase, the creator of the category-leading Engagement Banking Platform, raised €120 million or R1.9 billion in growth equity funding from Motive Partners. Having grown organically to over €200 million in revenue, Backbase is now partnering with a FinTech specialist private equity firm, to further strengthen its claim on the Engagement Banking category. This growth investment values Backbase at €2.5 billion. Motive Partners is a founder-friendly partner, fully supporting Backbase in remaining an independent force and driving the Engagement Banking strategy, by continuing to focus on customer-centric innovation that transforms the financial services industry’s siloed channels and legacy applications. Most banks…
As the fuel price hits historic highs, commuters are starting to feel the pinch in increasing transport fares. The typical South African commuter already spends up to 40% of their income on transport and the minibus taxi sector is still struggling from the impact of the last two years on their operations. However, relief could be possible from an unlikely source – electric minibus taxis. Privately-owned minibus taxis are ubiquitous in sub-Saharan Africa and carry more than 70% of daily commuters. A project team of companies and research institutions today announced a research partnership to investigate and advance the feasibility…
Cape Town-headquartered venture capital (VC) firm HAVAÍC this week announced the completion of its first investment in ShopEx, Nigeria’s leading omnichannel direct-to-consumer retailer. HAVAÍC has finalised investment of $400,000 from its U$20 million HAVAÍC Universum Core African Fund. The investment forms part of a $625,000 convertible note round alongside existing angel investors. ShopEx mobilises a combination of traditional and digital channels to market, sell, and distribute some of the world’s most successful ‘As Seen On TV’ brands in Nigeria and other African markets, including Nutri-Bullet, Copper Chef, Power XL, Dream by Genie, Myfit Jeans, and Contour. Founded by CEO Isi…
SA’s investment app Franc has announced its B2B offering Franc Business. The announcement follows Franc’s recent seed extension raise of R8 million, which included investment from pan-Africa focused venture capital firm 4DX Ventures. The capital injection will in part fund their B2B initiative aimed at businesses who want to entrench customer loyalty and their value proposition with a ‘plug and play’ investment and savings offering. Franc was launched in 2017 by varsity mates, actuary Sebastian Patel and engineer Thomas Brennan, who were frustrated by the complexity and high barrier to entry of existing investment offerings, and concerned by the poor…
The informal sector accounts for about 18% of South Africa’s GDP, with over three million workers engaged in the informal economy. In addition, an estimated 2.9 million migrants reside in South Africa, many of whom struggle to access financial services in order to start small businesses like spaza shops, salons and kiosks. That’s an incredible portion of the population that remains underserved in the financial sector, unable to access or otherwise afford the services needed to grow their businesses. To better serve this sector, Hello Pay has created a new turn-key suite of business solutions that will enable growth, save…
Santam, South Africa’s short-term insurer, is enhancing its digital offering, with the announcement that it is increasing its interest in insurtech company JaSure by acquiring the remaining 49% shareholding. In 2020 Santam acquired 51% shareholding in JaSure. The company said the buyout is a significant growth enabler, that will realise digital offerings for clients across the Santam Group, particularly in its Commercial and Personal (C&P) insurance business. “We believe we can open up the potential for increased value-add to our clients and the Santam Group through a 100% ownership. We aim to leverage the existing and powerful client experience and…
SA Motor Lease, a division of PACE Auto Group, will become the latest leasing company in South Africa to offer long-term car subscriptions on the FlexClub network. This follows Avis Fleet launching its own long-term subscription offers earlier this year. FlexClub has created a vehicle subscription account that enables customers to easily subscribe for vehicles online, from a network of rental and leasing merchants. Customers with an account avoid prohibitively expensive security deposits, complex applications and can earn cashback on their monthly vehicle subscription spend. This comes almost a year after PACE Car Rental, the car rental division within the…
Woven Solutions Group, a UK and South African-based technology and business process outsourcing (BPO) company, has acquired a majority stake in SA Commercial, a locally developed award-winning BPO provider based in Cape Town. This investment will accelerate growth for SA Commercial and the Western Cape BPO Industry, with the intention of creating an additional 1 000 new jobs in the province over the short term. Woven is expanding rapidly, thanks to its proprietary technology solutions, and intends to develop its partnership with SA Commercial to drive the combined companies’ growth globally. Renee Keeble, Founder & Chief Executive Officer at SA…
The Built With Bitcoin Foundation, a humanitarian organisation powered by Bitcoin, announced that it has constructed two new schools in Gerberha, South Africa thanks to a generous donation of 1 BTC. The foundation creates equitable opportunity by providing clean water, access to quality education, sustainable farming, and humanitarian support. This project was funded by a donor with strong roots in South Africa. After discovering the Built With Bitcoin Foundation earlier this year and speaking with Yusuf Nessary, Director of Philanthropy, the donor committed to donating 1 BTC towards building a school in Port Elizabeth, South Africa. The donor wishes to remain…
Embedded finance enabler Ukheshe Technologies has announced the launch of the very first tap-on-phone payment solution that requires no certifications. Though tap-on-phone payments have been available for a while, up until now this functionality has been costly, with several administration hurdles. Ukheshe has solved this problem by creating a simple and quick process for merchants and service providers to accept tap-on-phone payments. It will allow any near-field communication (NFC)-enabled Android phone to accept tap-on-phone transactions – no need for any certifications and app approvals, and no need to include any third parties or software development toolkits (SDKs). Paul Selibas, President:…
Despite the challenging business environment, Bosch, the world’s largest automotive supplier, is raising its venture-capital funding for the current business year. Its subsidiary Robert Bosch Venture Capital GmbH (RBVC) is setting up a new fund for startups. The fund has a volume of 250 million euros or R4.2 billion. As a provider of venture capital, Bosch supports startups around the world whose technologies have the potential to improve quality of life and conserve natural resources. “Our investments in startups promote technological progress in business and society,” says Dr. Stefan Hartung, chairman of the board of management of Robert Bosch GmbH.…
As cryptocurrency gains incredible momentum in South Africa, local financial institutions are being presented with a massive opportunity for growth in this area – as knowledge and trust remains fairly limited. A Q1 2022 consumer survey, carried out by customer experience partner, Merchants, found that 53% of respondents had little to no knowledge of cryptocurrency; while only 14% felt they had a strong hold on the subject – 23% remained neutral Despite this, there is certainly an appetite for investment into cryptocurrency locally. According to crypto investment platform, Luno, South Africa is in the top-ranking nations for crypto trading on…
The Automobile Association (AA) of South Africa says spending more on Gautrain benefits a few, and disadvantages the majority. The determination of the expansion route for the Gautrain by Gauteng MEC for Roads and Transport, Jacob Mamabolo, disregards factual evidence opposing such a move, and underscores the poor financial decision to allocate funds to a failing system. “We believe the publication of the route determination for Phase 1 of the proposed Gauteng Rapid Rail Integrated Network (GRRIN) project – Gautrain – must be rejected and we urge national government to halt any discussions regarding the funding of such expansions,” says…
MTN Group announced the appointment of Andrew Goodrich as Executive for Banktech in our Group FinTech team, effective 1 June 2022. Goodrich joined MTN in 2019 as a General Manager for Banktech & Beyond Payments division, where he has added immense value in executing our digital banking strategy. “We are delighted to welcome Andrew into his new role within the Group Fintech Team. Andrew is no stranger to MTN and his wealth of experience in the financial sector, will ensure we continue to make a meaningful contribution, as we drive our financial inclusion ambitions on the continent.” said Serigne Dioum,…
To offer its customers the best possible user experience, Volvo Cars is bringing photorealistic visualisation technology into its next generation of electric cars through a new collaboration with Epic Games. The companies are teaming up to bring Epic’s Unreal Engine game engine into upcoming Volvo cars, providing unparalleled high-quality graphics inside the cabin. Epic Games is a leading interactive entertainment and software company probably best known for Fortnite, one of the world’s largest games. Epic Games also develops Unreal Engine, widely considered to be the most advanced real-time 3D creation tool used in various industries beyond games, and which will…