Johannesburg, South Africa – 21 May 2024: Microsoft South Africa is deepening its commitment to the country and job creation to spur SMME development, create local opportunities, growth, and ready the country for AI transformation. The company will invest more than R1.3 billion to unlock inclusive growth, contribute to building a digital economy, foster entrepreneurship, and innovation, and fuel the job creation engine. It will enable SMMEs to be engines of growth and expand local industry for South Africa. Below are some of the key important investments : “The Fund will assist black South Africans in non-tech sectors to harness the…
Author: Thobile Mkhatshwa
The rapid uptake of artificial intelligence (AI) tools like ChatGPT (OpenAI) and the recent launch of Copilot, integrated across Microsoft’s platforms, have raised concerns about the impact on employment. Fifi Sali, Human Capital Executive at Vuma, observes that while some jobs may be affected, individuals can use AI and automation to their advantage, unlocking opportunities in both existing and emerging fields. A looming transformation Consulting firm Accenture estimates that 40% of all working hours could be impacted by large language models (LLMs) such as ChatGPT. Within just two months of its public launch in November 2022, the AI tool reached 100 million users.…
Johannesburg, 21 May 2024 – BDO SA, proudly announces key specialists Donvé Forbes and Linda Peter as sub-sector leads within its Technology, Media, and Telecoms (TMT) sector. These strategic appointments underscore BDO’s commitment to fostering diversity and empowering female leadership across the firm. Donvé Forbes, currently a Partner in Audit, will take on the role of Media Lead within the TMT sector. Donvé’s journey at BDO, which began as an article clerk in 2008 and culminated in her appointment as Partner in 2016, is testament to her dedication and expertise. With a diverse client portfolio spanning retail, media, technology and…
Series of solutions and initiatives to be released throughout 2024 JOHANNESBURG, May 22, 2024 – Trend Micro Incorporated, a global leader in cybersecurity, today unveiled its plans for protecting consumers as they increasingly adopt generative AI applications alongside the expected growth in adoption of AI PCs. Designed to address the unique opportunities and risks posed by AI, Trend’s strategy helps consumers embrace the use of generative AI applications safely to lower their risk of being harmed by the use and abuse of AI. In addition Trend Micro has, and will continue, to innovate using AI in its own cybersecurity solutions and…
In the ever-evolving digital landscape, the Experian report highlights a significant number of losses attributed to online fraud. Johannesburg, 22 May 2024: At Experian’s annual Fraud Forum held last week in Johannesburg, industry experts convened to discuss the pressing trends, challenges, and priorities in fraud prevention as highlighted in Experian’s Defending Fraud Report conducted in partnership with Forrester Consulting. The report reveals that 76% of South African respondents have seen an increase in fraud losses over the past year, underscoring the urgency of effective fraud prevention measures. The report surveyed 308 fraud managers in financial services, telecom, and retail organisations across…
In today’s fast-paced world, automation stands as a pivotal concept, heralding an era of transformation for businesses worldwide. Spearheaded by technological advancements, automation empowers organizations to streamline operations, reduce costs, and enhance efficiency by executing tasks and processes with minimal human intervention. As articulated by Tumelo Komape, the significance of automation in reshaping business landscapes cannot be overstated. The evolution of automation has unlocked unprecedented opportunities for businesses to revolutionize their operations. Gone are the days of manual labor dominating repetitive tasks and workflows. Instead, organizations now harness the power of automation to implement systems, software, and machinery capable of…
Amidst a challenging economic landscape where interest rates hold steady, banks are compelled to innovate, striving to present enticing home loan packages to draw in customers. Within this context, a trend prevalent in the UK but still on the cusp of gaining momentum in South Africa emerges: bond switching. Clive Bredenkamp, IT Executive at Proptech specialist e4, explains the potential shifts: “The property market is inherently sensitive to interest rate changes. While the rates are currently only marginally higher than in 2019, the market’s response to the current interest rate has been disproportionately severe due to the very low rates we…
Financial literacy entails a foundational understanding of key financial concepts, including debt management, budgeting, saving, and investing, according to insights from a reputable online lender. However, for individuals grappling with significant debt burdens, the feasibility of prioritizing investment or savings remains uncertain. Recent data reveals a pressing concern for many South Africans, particularly those fortunate enough to be employed within the nation’s workforce, which currently stands at 67.9%. Statistics from SearchWorks, a data aggregation firm, indicate that the average South African consumer allocates approximately 62% of their disposable income towards debt repayment. Moreover, projections suggest that the household debt-to-income ratio…
The Financial Sector Conduct Authority (FSCA) has recently issued a series of alerts regarding unauthorized financial services activities carried out by various entities and individuals. Some of these entities are engaging in impersonation tactics, unlawfully utilizing legitimate businesses’ FSP numbers and branding. The term “financial services business” encompasses activities such as advising the public on investment opportunities and dealing with investments in any capacity. This includes receiving funds from the public, making investments on their behalf, trading financial products, or facilitating public trading in financial products. The FSCA emphasizes the importance of recognizing warning signs indicating potential scams in investment…
The inception of the National Financial Ombud scheme (NFO) commenced on March 1st, following its official recognition by the Ombud Council. The establishment of NFO stems from a comprehensive initiative to merge four ombud schemes within the financial sector: the Credit Ombud, the Ombudsman for Banking Services (OBS), the Ombudsman for Long-term Insurance (OLTI), and the Ombudsman for Short-term Insurance (OSTI), all of which now operate as divisions within NFO. Granted recognition by the Ombud Council under the Financial Sector Regulation Act as an industry ombud scheme on February 23rd, NFO saw the revocation of recognition for its four predecessor…
