Author: Staff Writer

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…

New York-listed IHS Towers, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, has completed the acquisition of 5,701 towers from MTN SA. Under the agreement, IHS Towers is also providing Power Management Services to MTN SA on approximately 13,000 sites, including the acquisition portfolio, across South Africa. The deal cash consideration is R6.4 billion on a cash and debt-free basis, excludes IFRS 16 lease liabilities estimated to be R4.6 billion. The acquired assets as well as the provision of Power Management Services across MTN SA’s portfolio are expected to…

International calling app Talk360, which enables people around the world to make reliable and affordable calls to any landline or mobile phone worldwide, has secured $4 million (R63 million) in funding as it prepares to launch a new pan-African payment platform in mid-2022. The seed round of funding was led by leading African venture capital investor HAVAÍC, 4Di Capital and several prominent fintech angel investors. While the Talk360 app is seeing rapid growth on the continent, with a growing number of paying users, accessibility has been an issue for the 500 million underserviced people. Users either don’t have online banking…

Comair has announced that regrettably it is obliged to suspend all British Airways (operated by Comair) and kulula.com flights pending successfully securing additional funding. The company’s business rescue practitioners (BRPs) have advised that the process to raise the necessary capital is in progress and that there is reason to believe such funding may be secured. Once received, the airline will be able to recommence operations, but regrettably under these circumstances, the practitioners have no choice but to voluntarily suspend all scheduled flights until the funding is confirmed. British Airways and kulula.com ticket sales have also been suspended with immediate effect. “We…

IoT.nxt, specialist Internet of Things (IoT) solutions provider and subsidiary of the Vodacom Group, appointed Vasin Govender as its Group CEO, effective 1 June 2022. Govender will take over the reins from Shane Cooper, who served as acting CEO since March 2021. “Vasin was appointed after an extensive executive search as we were looking for an individual who can accelerate IoT.nxt’s tech adoption around the globe. We have projects running in multiple countries in diverse industries but have only scratched the surface of what IoT.nxt’s award-winning technology can deliver,” says Wayne Fitzjohn, Chairman of IoT.nxt and CEO of Investment Holding…

Naspers, through its early-stage tech investment vehicle Naspers Foundry, announced a R40 million ($2.5 million) investment in LifeCheq, a FinTech platform empowering financial advisers to provide quality, holistic financial advice. The investment is part of Naspers’s R1.4 billion commitment to grow South Africa’s early-stage tech ecosystem and marks Naspers Foundry’s fifth fintech investment and eleventh tech transaction since its launch three years ago. LifeCheq plays a critical role in driving financial inclusion in South Africa by democratising access to financial advice – previously only accessible to high income earners. Accessible financial planning and advice are especially important during the current…

Vodacom subsidiary, Nexio today announced an exclusive strategic partnership with Poprush Cloud & Consulting, a differentiated cloud solutions provider. The partnership will further Nexio’s ambitions of becoming the leading cloud service provider in South Africa. With a deep understanding of the challenges of the modern cloud environment, Nexio assists organisations unlock the true value of their cloud investments. It offers complete migration and implementation services to modernise environments and optimise ecosystems. A properly managed multi-cloud architecture helps reduce time, cost, and risks of a company’s digital transformation, giving it the upper hand in a digital economy. Poprush Cloud & Computing…

4Sight’s Asset Simulation team, represented by its subsidiary Simulation Engineering Technologies (SET), has been chosen as one of two South African companies to run simulation projects at Australian Mining Company OZ Minerals’ Prominent Hill Mine. These projects are aimed at testing how simulation can help executives understand the impact of electrification on mine design and production, infrastructure and energy management. 4Sight’s Asset Simulation is now working to create a platform for developing and testing various layouts for the electrification of Prominent Hill’s mining operations. This Electric Mine Simulation crowd challenge was launched by the Electric Mine Consortium, which is made…

Viu South Africa has teamed up with Vodacom to offer customers Viu Premium subscription with Vodacom video data bundles. When signing up for Viu, subscribers will get the Viu Premium subscription plus mobile data at no additional cost, to easily binge-watch Viu content, creating a care-free experience on the go. Viu Daily Premium subscription starts from as little as R5 a day and is bundled with a free 250MB daily recurring video data bundle. The Viu Monthly Premium subscription is R69 per month and it comes with a free 3GB monthly recurring video data bundle. In addition, Viu Premium subscribers…

MTN Group today announced the appointment of Tumi Chamayou as Group Executive:  Enterprise Business Unit (GEBU), effective 1 June 2022. Tumi joined the GEBU team in 2018, as General Manager for Large Enterprise Sales, and has been Acting Executive for the function since July 2020, until now. During this time, she has added immense value, overseeing client segment teams as well as the overall strategy and operational alignment with EBU teams in MTN’s Opcos. Jens Schulte-Bockum, Group Chief Operating Executive said, “Tumi has the expertise and track record to assist in bolstering the leadership capability of MTN Group. Critical…

While every business, irrespective of size, is vulnerable to payment fraud worrying gaps in South African motor dealerships’ payment systems put the entire sector at risk. Ryan Mer, CEO at eftsure Africa,  a Know Your Payee™ (KYP) platform provider, says the most common thread in cases of fraud is the human element which can involve sophisticated fraudsters or unscrupulous employees. In either case, strengthening processes and protocols can mean the difference between being an easy target and stopping fraud in its tracks. Scenario 1: The external risk of a walk-in criminal A client wants to sell their car. They present…

SearchWorks has announced a relaunch of its brand identity. South Africa’s most innovative data aggregation platform says it has evolved its brand identity in a manner that pays homage to its roots as a data offering of e4, and now through impressive growth, become its own entity with an extensive list of unique offerings and capabilities. Established in 2012 the SearchWorks platform allows users to conduct live, accurate searches on individuals and companies and administer in-depth KYC checks online. The brand refresh is also a nod to the vibrant and ever-changing tech environment in which relevant products, services, and data…

JSE-listed retailer Pepkor, which owns household brands including PEP, Ackermans, Tekkie Town, The Building Company and Incredible Connection, delivered another strong set of interim results underpinned by a robust growth strategy. During the period under review, Pepkor also opened 144 new stores and completed its strategic acquisition of well-established Brazilian value retailer, Grupo Avenida, which currently operates 130 stores. The group generated R4.1 billion cash during the period. Like many other companies, Pepkor’s performance over the last two years has been deeply distorted by a myriad of interruptions and crises, such as COVID-19 related restrictions, loadshedding, on-going supply chain challenges,…

Attacq, the JSE-listed REIT and developers of the iconic Waterfall City precinct, announced the appointment of David Oosthuizen as Development Executive and Lourens Du Toit as Head of Sustainability, Infrastructure and Land. Both new appointments are as a result of internal promotions, an indication of the strength of the talent pipeline that has been built. Jackie van Niekerk, Attacq CEO, says, “Attacq has promoted two individuals who embody the characteristics, qualifications, and skills needed to carry out our broader corporate strategy. Promoting from within has allowed us to develop and retain core competencies. David and Lourens have an excellent understanding…

Commvault, an enterprise leader in intelligent data services across on-premises, cloud, and Software as a Service (SaaS) environments, has partnered with Logicalis for them to be an integrator for Metallic SaaS platform Via the Microsoft Market Place in the region. They will be the first Microsoft/ Commvault partner to launch this service on Microsoft Market Place. Gerhard Fourie, Channel Lead at Commvault Africa, explains the deal stems from Commvault’s drive to select partners that are aligned with its ethos and go to market strategy, underpinned by Logicalis’ global alliance footprint with major players such as Microsoft and Cisco. “This, as…