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FIC Intensifies Crackdown on Real Estate Money Laundering with Hefty Fines
The Financial Intelligence Centre (FIC) is intensifying its crackdown on money laundering through real estate transactions, imposing fines of up to R900,000. According to Daily Investor, this was reported by Bianca Neethling, Compliance Manager, and Paul Baddrick, Head of Real Estate at BDO South Africa. According to the Global Financial Integrity report, South Africa lost
OpenAI Delays Launch of ChatGPT's Voice Assistant Feature
OpenAI has announced a delay in the release of its highly anticipated voice assistant feature for ChatGPT, aiming to ensure the system can handle requests from millions of users safely and effectively. The AI startup introduced the voice option during a May product launch event for GPT-4o, an enhanced version of its GPT-4 model capable
Nvidia Shares Plunge into Correction Territory
Nvidia shares entered correction territory on Monday, as a continued selloff wiped out a historic amount of value for the AI-focused chipmaker. The stock tumbled 6.7%, marking its third consecutive negative session and its biggest one-day percentage drop since April. Over the past three days, Nvidia's market capitalization shrank by about $430 billion (R7.8 trillion),
China-Backed Pipeline in Niger Faces Threats Amid Internal Security Crisis and Diplomatic Dispute
A pipeline project backed by China, which promises to transform Niger into an oil-exporting nation, is now under threat due to an internal security crisis and a diplomatic dispute with neighbouring Benin. These issues stem from last year's coup that overthrew Niger's democratic government. The 1,930-kilometer (1,200-mile) pipeline, stretching from Niger’s Chinese-built Agadem oil field
Binance Crypto Exchange Peaks
The world’s largest coin trading platform, Binance, hits a new record in user numbers despite ongoing legal battles with regulators in various countries such as Nigeria. The world’s largest crypto currency exchange announced this week that it had breached the 200 million user mark in just seven years of trading after launching in 2017. By
Ai’s growing Impact on productivity Improvements
Are you looking for greater efficiency in your business -how about considering Ai impact? What is your go-to metric for a great Ai innovation? There are a lot of answers to this question, however a key one should be; what is the Time-to-Value that AI products give to you or your business? The greater the
Data Breaches in Africa reaching new levels
Following some of the major data breaches in 2022/2023 ,and others such as the CIPC breach in South Africa in February 2024, Cyber Security continues to be a major issue in Africa with monthly data breaches growing to over 150 a month in South Africa alone in early 2024, up from an average of 56
From Smart Pins to AI Assistants: How Wearables Could Outpace Mobiles in Tech Evolution
Increasingly, Ai is not only impacting areas of business such as software coding and research, but are rapidly being integrated into everyday technology that is likely to result in Ai having a more integrated role in our everyday living. The big question is; Will new Tech developments such as new wearable devices change our devices
Decoding the Dangers: AI's Role in Software Engineering Under Scrutiny
As we venture down a new unknown path in Ai driven software development, there are numerous dangers lurking ahead that businesses need to take urgent cognisance of and as more and more software code is either generated by, or assisted via Ai, there are credible risks that are starting to emerge. Angus Norton, in his tech
Tech Outlook and funding opportunities for African Start-ups in 2024
Market Trends: 2023, saw a dramatic 46% Year-on year decline in overall venture capital (VC) funding, reaching only $3.5 billion. The Fintech sector retaining its top demand for investors. It is also expected that more African start-ups such as Tymebank, will be looking to acquire companies outside the continent or expand their services globally in 2024. While Venture
Former Naspers CEO Bob van Dijk Receives R330 Million and More to Come
Bob van Dijk, the former CEO of Naspers, received a substantial R330 million from the company over the past year, with additional payments expected in the current financial year. Naspers disclosed the remuneration details for Van Dijk covering the period from April 1, 2023, to March 31, 2024, along with his agreed severance package. According
Nigerian Fintech Eyowo Reinstated by Central Bank of Nigeria
Nigerian fintech company Eyowo has achieved a significant milestone with the full reinstatement of its license by the Central Bank of Nigeria (CBN). This development marks a crucial turning point for the company, which has navigated considerable challenges in recent times. Yomi Adedeji, CEO of Eyowo, shared the news on social media platform X, expressing
Kenyan Youth Protests– Don’t mess with our Digital Services!
Wide ranging protests were arranged in Kenya over the weekend, and have continued into the week to protest the recently proposed new Finance Bill 2024, with many calling for the resignation of president Ruto. The bill, that has not yet been signed into law yet, but has been signed off by the Kenyan parliament, will
WhatsApp Rolls Out Major Updates and AI Features in 2024
Meta Platforms-owned WhatsApp has been actively enhancing its platform in 2024 with a series of updates, including a redesigned interface, AI-powered features, and various quality-of-life improvements. Redesigned Interface One of the most significant updates in 2024 is the redesigned user interface. In early May, WhatsApp introduced a refreshed look with a new shade of green
Managing skills relevancy amidst the STEM talent crunch
The labour market continues to evolve as technology solutions such as AI advance at pace. Building and maintaining talent that can remain relevant during this evolution is crucial especially when we consider local youth unemployment rates, and the global STEM talent crunch, this youth development month. In 2018, Korn Ferry predicted a global technology labour skills
The Role of Fintech in Empowering Africa's Underserved Communities
Africa is witnessing a groundbreaking surge in financial technology (Fintech) innovation, rapidly unlocking a continent brimming with economic potential. Despite a largely unbanked population and limited traditional infrastructure, Africa's mobile phone penetration and youthful, tech-savvy demographic have created a fertile ground for Fintech solutions. From fostering financial inclusion through mobile money platforms to revolutionising lending
AWS Announces $230 Million Commitment to Support Global Generative AI Startups
Amazon Web Services (AWS) has unveiled a major $230 million initiative aimed at bolstering startups worldwide in developing generative AI applications. This comprehensive support package will provide early-stage companies with AWS credits, mentorship, and educational resources to enhance their AI and machine learning capabilities. A substantial part of this investment will be directed towards the
Discovery Declines Support for Apple WatchOS 11's Pause Feature in Vitality Active Rewards
Discovery has announced that it will not integrate the new pause feature in Apple’s WatchOS 11 Health app into its Vitality Active Rewards programme. The pause feature, designed to allow users to temporarily halt their activity streaks due to injury or rest days, will not impact how Vitality Active Rewards are measured on the Apple
Competition Commission Approves R1.07 Billion Deal for AWIC to Acquire 20% of Mall of Africa
The Competition Commission has given the green light to a significant transaction involving the Attacq Waterfall Investment Company (AWIC). The deal, valued at R1.07 billion, enables AWIC to acquire an additional 20% stake in the Mall of Africa. The Mall of Africa, which opened on April 28, 2016, is a landmark development in South Africa.
Meta Platforms Discusses Integrating Generative AI with Apple’s New iPhone System
Meta Platforms, the parent company of Facebook, is reportedly in talks to integrate its generative AI model into Apple's newly announced AI system for iPhones, according to the Wall Street Journal on Sunday. This development comes as Apple seeks to incorporate technology from various AI companies into its devices, including a potential collaboration with long-time