Author: Yanga Manci

On Sunday, BYD unveiled its latest high-performance electric car, the Yangwang U9, marking its entry into the luxury electric vehicle market with a price tag of US$233,450 (approximately R4.5 million). This fully electric supercar is positioned to compete with traditional petrol-powered options from luxury brands like Ferrari and Lamborghini. Initially targeted at the Chinese market, the Yangwang U9 was showcased at a live-streamed event in Shanghai. Boasting impressive acceleration, the car can reach 100km/h in just 2.36 seconds and achieve a top speed of 309km/h. BYD, which surpassed Tesla as the world’s largest electric vehicle seller in the last quarter…

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Truecaller, a caller identity company, has introduced its call recording and transcription feature for premium users in India, its largest market. This feature, available on both Android and iOS, supports English and Hindi transcriptions. In June 2023, Truecaller launched call recording for premium users in the U.S., with a distinctive feature: due to regulations, users in the U.S. would hear a beep when recording started, but this won’t be the case in India. For Android users, Truecaller’s dialer will display a dedicated recording button. On other dialers, a floating recording button will be shown. On iOS, adhering to Apple’s CallKit…

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The Green Building Council of South Africa (GBCSA) has accredited two buildings at Vodacom South Africa’s headquarters (HQ) in Midrand, Johannesburg, each with a 5-Star Existing Building Performance (EPB) certification. Vodacom’s Business Park and Corporate Park buildings, which are part of the HQ campus, have each achieved this rating, which signifies excellence in sustainable building operations and management. This comes after the company has practically demonstrated responsible business practices over a sustained period and continues to do so. Resource efficiency, especially in respect to energy, water, and waste management, are some of the important features that the GBCSA interrogates when…

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As the Age of Adaptability unfolds, ManpowerGroup South Africa, under the leadership of Managing Director Lyndy van den Baarselaar, emphasises the importance of prioritising people in the face of rapid technological evolution. In a world where generative AI is advancing swiftly, ManpowerGroup SA believes technology can be a powerful ally, augmenting human capabilities rather than replacing them. “Experience has shown us that to harness the full potential of AI for driving growth and increasing productivity, companies must prioritise their workforce”, explains Lyndy van den Baarselaar. “As we continue to adopt new ways of working, our challenge is to digitise workplaces while…

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In early January, an employee at an undisclosed Asian bank sat on a video conference call with senior managers of their company, including the CFO. During the call, they were instructed to move $25 million to various accounts. It was a scam—the employee was never in contact with their bosses but got fooled by a deepfaked video. 2023 started with a bang as generative artificial intelligence (GenAI) went from obscure innovation to a technology reshaping the world. GenAI can create prose and images that could pass for human-created content. It can also create deepfakes: convincing versions of real people. Most…

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The global provider of transformative household products and affordable finance for low-income households, d.light has announced the successful closure of a significant $7.4 million (N10 billion) securitized financing facility. This development, in collaboration with Chapel Hill Denham, Nigeria’s largest alternative asset manager, is meant to support the expansion of d.light’s low-cost Pay-Go offering of affordable, solar-powered products targeted at low-income households. Chapel Hill Denham’s Nigeria Infrastructure Debt Fund will provide the new financing, structured and sponsored by African Frontier Capital, which will also act as the master servicer and backup servicer in the transaction. The Chief Executive Officer of d.light,…

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The EOH board has named Andrew Mthembu, the current chairman, as the interim CEO of the company. Mthembu, who previously served as a non-executive chair, will take on the role of executive chairman starting April 1, 2024. Once a new CEO is appointed, Mthembu will move back to his position as an independent non-executive chairman. In order to support Mthembu in his executive chairman role, Andrew Marshall, who is currently an independent non-executive director, will assume the role of lead independent non-executive director from the 1st of April 2024. This position will continue even after the appointment of a new…

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The 2024 Budget speech presented by Finance Minister Enoch Godongwana paints a picture of cautious optimism amidst lingering challenges. While acknowledging the calls for fiscal discipline, the budget demonstrates a commitment to both stabilising the debt burden and addressing critical social needs. Joon Chong, partner at Webber Wentzel outlines the key takeaways with a forward-looking lens: Fiscal Consolidation: A Balancing Act The budget prioritises reigning in the ballooning deficit, aiming to reduce it from 4.9% to 3.3% of GDP by 2026/27. This commendable ambition comes with a balancing act. Non-interest expenditure is slated for a ZAR 80,6 billion reduction, raising…

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Lenovo Group Limited together with its subsidiaries (‘the Group’), today announced third quarter results reporting Group revenue increasing 3% year-on-year to US$15.7 billion, and Group profitability improving quarter-to-quarter for the second time in a row. Net income was US$357 million on a non-Hong Kong Financial Reporting Standards (non-HKFRS)[1] basis, with net income margin up 0.4% quarter-to-quarter to 2.3%. The Group’s diversified growth engines continued to deliver strong performance, with revenue from non-PC businesses accounting for 42% of Group revenue, up 1.3 points year-on-year. The consistent quarter-to-quarter improvements over past quarters have been driven by the resilience of the Group’s core businesses and the…

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In delivering the 2024 National Budget, Finance Minister Enoch Godongwana reminded South Africans that it would be easy to indulge in extremes of either blind optimism or crippling pessimism, when it’s best to resist both. He urged South Africans to heed the words of former President Nelson Mandela “who more than most saw that the pursuit of socioeconomic justice and shared prosperity is a journey rather than a destination.” This is true in business as Small to Medium-Sized Enterprises (SMEs) so often have stumbling blocks to contend with while operating in the idiosyncratic economy of South Africa, with its electricity-supply…

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