Author: Yanga Manci

A year ago, tech start-up Sightful introduced a thousand productivity pioneers to its innovative Spacetop system, a laptop that employs AR glasses for its display. Now, the enhanced and refined Gen 1 product, Spacetop G1, has officially gone on sale. A Revolutionary Approach to Remote Working The Spacetop G1 aims to transform the remote working experience by replacing the traditional laptop screen with a pair of augmented-reality glasses. These glasses, connected to a keyboard base the size of a 13-inch laptop, project a 100-inch virtual display in front of the user’s eyes. This setup allows users to avoid hunching over…

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On Thursday, Tesla shareholders voted to reinstate CEO Elon Musk’s substantial $44.9 billion all-stock compensation package, which had been previously nullified by a Delaware judge. This decision signals strong support for Musk’s leadership amid challenging times for the electric vehicle manufacturer. Although the shareholder vote is favourable, it does not guarantee that Musk will receive the compensation immediately. The package remains entangled in legal proceedings in the Delaware Chancery Court and Supreme Court, with Tesla appealing the judge’s rejection. This year, Musk has cast uncertainty over his future with Tesla, suggesting on social media platform X that he seeks a…

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A long-standing petrodollar agreement between the United States and Saudi Arabia has expired, with the Gulf nation deciding not to renew the deal as of June 9, 2024. This move marks a significant shift in global finance, potentially impacting the status of the US dollar as a reserve currency and carrying considerable implications for America. The expiration of this agreement, which has lasted for 50 years, signals the end of an era that significantly contributed to US economic dominance globally. There has been no official confirmation regarding the renewal of the deal, highlighting the uncertainty of future US-Saudi financial relations.…

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The $5 billion pipeline project, designed to transport oil from Uganda’s discoveries to an export terminal on Tanzania’s coast, has encountered significant resistance from environmental groups scrutinizing potential lenders, as reported by Bloomberg. In 2021, Standard Bank, Africa’s largest lender, appointed an independent adviser to assist in its decision-making regarding involvement in the project. “We have conducted our internal governance processes,” stated Standard Bank Chairman Nonkululeko Nyembezi in an interview in Rio de Janeiro. This process included a thorough credit review and extensive environmental and social due diligence, which she noted took a considerable amount of time. The East Africa…

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MultiChoice, the South African pay-TV giant, has reported a substantial annual loss of USD 217 million (ZAR 4 billion) on revenues of USD 3 billion (ZAR 56 billion). The loss, driven by macroeconomic challenges, has shareholders contemplating whether ownership by Canal+ might offer a lifeline. In crucial markets like Nigeria and Ghana, economic downturns have significantly impacted consumer spending power, leading to a reduction in active subscribers. In Nigeria, the number of active subscribers dropped by 1.2 million to 8.1 million, decreasing the country’s revenue contribution to MultiChoice’s Rest of Africa segment from 44% to 35%. Additionally, the group faced…

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Sage, the leader in accounting, financial, HR, and payroll technology for small and mid-sized businesses has today launched Sage Distribution and Manufacturing Operations (SDMO) in the United States and South Africa. SDMO provides complete visibility and control of the purchasing, production, inventory, and sales processes of small to mid-sized distributors and discrete manufacturers, helping them drive efficiency, productivity, and growth. SDMO is designed specifically for the manufacturing and distribution sectors and uses cloud-native technology to provide a single dedicated place to manage operations and financials. It helps organisations automate and smoothly manage complex tasks using modern capabilities such as real-time…

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South African retail has experienced profound transformation over the past few years, with digital platforms and ecommerce reshaping consumer expectations. However, we are just in the earliest phases of digital transformation and SME retailers will need to be agile to keep up with emerging customer demands and new competitors. Steven Heilbron, CEO of Capital Connect, a fintech that offers fast and flexible business funding to South African retailers, outlines five trends that are shifting the retail landscape: Ecommerce giants enter the market Ecommerce continues to reshape retail in South Africa, with a study from World Wide Worx showing that online retail sales grew…

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Acer, a global leader in PC technology, has officially announced the commencement of local monitor production in South Africa, and Business Tech Africa was honoured to have been part of the launch. This strategic initiative highlights Acer’s unwavering commitment to job creation within the region and sets the stage for future initiatives aimed at empowering local communities. Acer’s Commitment to Job Creation As part of its localisation strategy, Acer’s new monitor production programme aims to significantly contribute to job creation in South Africa’s technology sector. Additionally, the company recognises that providing affordable access to technology is essential for economic growth…

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TikTok, renowned for its viral trends and dance challenges, is stepping up its commitment to social change with the official launch of the TikTok Change Makers Program. This global initiative aims to elevate creators and non-profit organizations that are making significant contributions to their communities. A Commitment Beyond Trends Unlike fleeting trends and catchy hashtags, the TikTok Change Makers Program represents a six-month commitment to empowering creators. This initiative focuses on helping creators build engaged communities, reach new audiences, and drive real-world impact. Significant Support for Change TikTok is backing this program with substantial resources, including a $1 million grant…

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As the world’s second-largest TV brand and the leading brand in the 98-inch TV market, TCL Electronics continues to revolutionize home entertainment with its XL Collection. With screen sizes ranging from 65 inches to an unprecedented 98 inches, TCL is setting new standards in screen size, immersion, and image quality. True to its brand signature, “Inspire Greatness,” TCL’s 2024 line-up showcases its innovative prowess and commitment to delivering exceptional experiences. Leading the Market in Extra-Large TV Screens The XL Collection is designed to cater to a diverse audience, including gamers, sports enthusiasts, party hosts, and luxury lifestyle aficionados. These TVs…

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