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$5 Billion Uganda-Tanzania Pipeline Faces Environmental Opposition
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
MultiChoice Reports Significant Annual Loss Amid Economic Challenges
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
Sage Increases Efficiency and Improves Scalability for Distributors and Manufacturers
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
Navigating disruption: How retailers can prepare for the R100 billion ecommerce market
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
Acer Launches Local Monitor Production in South Africa
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
TikTok Launches Global Change Makers Program to Drive Social Impact
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,
TCL Electronics Redefines Home Entertainment with Its XL Collection
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,
Can Nvidia reclaim its position as the world’s second-largest company by the end of this week?
The Technology Select Sector SPDR ETF (XLK) is grappling with significant concentration issues due to its top three holdings: Microsoft, Apple, and Nvidia. The ETF has a concentration rule that limits the total weight of companies with a weight above 4.8% to no more than 50% of the fund's holdings. Over the past two years,
X adds a feature that hides users' likes from public view, Elon Musk confirms
Social media platform X has introduced a new feature that hides users' likes from public view. Announced earlier this week by the platform's engineering team, the update aims to "better protect your privacy." As a result, users can see their own likes, but others cannot, ending a feature that has been widely used for a
Apple's stock surges more than 4%, propelling its market valuation to $3.31 trillion
Apple's stock surged more than 4% on Wednesday, propelling its market valuation to $3.31 trillion. In comparison, Microsoft’s shares climbed over 1%, achieving a $3.26 trillion valuation, while Nvidia’s shares soared approximately 4%, nearing a $3.1 trillion valuation. The AI boom has significantly boosted these three mega-cap tech stocks. Apple is the latest to join
Dubai International Airport to shut down, set to become Al Maktoum International Airport
Dubai has unveiled ambitious plans to construct the world's largest airport. Named Al Maktoum International Airport, this new facility will have the capacity to handle 260 million passengers annually, ultimately taking over operations from Dubai International Airport. The announcement was made by Dubai’s Prime Minister and Vice-President, Sheikh Mohammed bin Rashid Al Maktoum, on X,
ODP compliance offers brokers competitive edge
The annual Finance Magnates Africa Summit (FMAS) has once again proven to be a pivotal event for the financial services sector in South Africa. This year, FMAS 2024 marked a significant milestone for South Africans, as the event saw both new entrants and established local brokerages all striving to gain a first-mover advantage as firmer
PATORANKING FOUNDATION AND ALX AFRICA UNVEIL A $500,000 SCHOLARSHIP INITIATIVE
Founded by the acclaimed Afrobeats musician sensation Patoranking, the Patoranking Foundation, a beacon of hope for young African talent, has announced the launch of the Patoranking Foundation Tech Scholarships, a key part of the organisation’s Sky Level Initiative. In a monumental partnership with ALX Africa, a pioneer in innovative tech skills development for young African talent, the Foundation
Protecting children in an ever-evolving Digital World
As the country celebrates 30 Years of freedom and democracy, we reflect on National Child Protection Week and the great strides and progress taken in protecting the rights of children in our country. This year the theme centers around “protecting South African children, 30 years on”, with the government calling upon all South Africans
What is a Wealth Advisor’s Greatest Asset?
To the uninitiated, it might seem that a wealth advisor's most valuable asset is raw intelligence (IQ). Many believe the primary objective of a wealth advisor is to structure an investment portfolio that achieves optimal risk-adjusted returns, where more is better, and mastery of the stock market is paramount. While IQ plays a significant role
Annual Review of Capital Market Assumptions by Our Investment Team
Each year, our Investment Team conducts a thorough review of our capital market assumptions (CMAs) across various asset classes. These CMAs form the bedrock of our portfolio construction process, forecasting the future performance of asset classes such as stocks, bonds, real estate, and alternative investments. By analysing projected returns, risk, and correlation data from multiple
The Vital Role of Fiduciaries in Non-profit Organizations
Fiduciaries play a crucial role in managing non-profit organizations, balancing the responsibility of furthering the organization's mission with prudent financial oversight. Their role extends far beyond attending meetings, requiring integrity, thoughtfulness, and proactive engagement in decision-making. Understanding and embracing their fiduciary capacity is essential for those overseeing a non-profit’s investments. Understanding Fiduciary Responsibility A fiduciary
MagicOS 8.0: HONOR Magic V2 Updated AI Features You Should Know
In May, Global technology brand HONOR announced the availability of the new MagicOS 8.0 update for the HONOR Magic V2 Series. South Africa was one of many countries on the list globally to receive this update where users can now enjoy AI-powered intent-based user interface (IUI) based on Android 14 with useful on-device AI features
Building relationships with commercial drivers for safer roads
South African roads are gripped in an ongoing safety crisis, with thousands of fatalities every year across the country. Justin Manson, Sales Director at Webfleet, Bridgestone’s globally trusted fleet management solution discusses how fleet owners can foster better relationships with drivers to create safer roads, protection of goods and better overall driver well-being. The Department of
Tech-investment is key to SARS maintaining its robust revenue collection capability
PwC South Africa has launched its seventh annual Taxing Times Survey. This annual survey is open to all corporate taxpayers and aims to assess their interactions with the South African Revenue Service (SARS), identify the organisation’s strengths, and highlight areas or processes within SARS that require improvement. In February, SARS announced that it had collected