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Old Mutual Faces Public Outcry Despite Apology for Pension Payment Delay
Old Mutual, a leading insurance provider, is grappling with a public relations crisis and widespread skepticism following accusations from Sebabatso Molefi that the company defied a court order to pay her mother's pension. Despite issuing an apology on Tuesday, Old Mutual's explanation efforts have been met with public outrage. The social media post by Molefi
Moroccan FinTech Tookeez Raises $1.5M to Expand Loyalty Platform
Moroccan FinTech startup Tookeez has recently announced a successful funding round that raised $1.5 million, with the Azur Innovation Fund leading the investment. This public-private seed capital fund, renowned for supporting innovative ventures, is specifically committed to advancing the landscape of customer loyalty in Africa and the MENA region. The substantial capital infusion marks a
Google Defends Revenue Contribution from News Queries Amidst Criticism
Google has refuted claims of substantial revenue generation from news content, citing figures from 2022 that indicate news queries account for less than 2% of total search query volumes in South Africa. Marianne Erasmus, Google News partner lead for sub-Saharan Africa, presented the company's perspective to the Competition Commission during its inquiry into media and
African Development Bank Urges End to Natural Resource-Backed Loans, Citing Risks
The President of the African Development Bank, Akinwumi Adesina, has called for an end to natural resource-backed loans, highlighting the inherent risks associated with such deals. In an interview with the Associated Press, Adesina expressed concerns about the challenges posed by pricing the assets properly and the asymmetric nature of negotiations, where lenders often hold
Unlimit Expands African Footprint with Acquisition of Payment License in Tanzania
Fintech powerhouse Unlimit has marked its entry into the Tanzanian market by securing approval from the Bank of Tanzania (BOT) for its payment service provider license. This strategic move follows similar licenses granted in Nigeria and Kenya last year, emphasizing Unlimit's commitment to bolstering its presence across Africa. The BOT's authorization enables Unlimit to offer
Apple Yields Ground in Europe, Allowing Developers to Distribute Apps Outside the App Store
In a significant concession to comply with the European Union's Digital Markets Act (DMA), Apple has announced a major shift in its App Store policies. The tech giant will now allow developers operating in Europe to distribute their apps directly to consumers through their own websites, bypassing the App Store. This move is aimed at
Starlink Blocks South African Reseller, Sparking Internet Outcry
SpaceX's Starlink is under fire for blocking Internet access to a significant number of satellite dishes in South Africa, originally purchased through an unauthorized reseller, Starsat Africa. Customers who had acquired the equipment from Starsat Africa are now grappling with the inability to restore their bricked dishes, prompting frustration and financial implications. Starlink has refused
Ali Monzer Appointed CEO of MTN South Sudan
In a strategic move, MTN Group has announced the appointment of Ali Monzer as the new CEO for its operations in South Sudan, effective April 1, 2024. The company revealed this development today, highlighting Monzer's extensive experience within the MTN Group and the telecommunications industry. Ali Monzer, an MTN Group insider, has held progressively senior
PalmPay Introduces Innovative Products in Nigeria, Paving the Way for Inclusive Financial Services
PalmPay, the Africa-focused fintech platform, has recently unveiled two groundbreaking products in Nigeria, Unlimited Free Transfer, and Target Savings, aiming to enhance financial accessibility and inclusivity for its users. The announcement, made today by PalmPay, highlights the elimination of transfer fees to all banks and fintech platforms on its app through the Unlimited Free Transfer
Safaricom Launches "Grow with Safaricom Business" to Empower MSMEs in Kenya
Safaricom, the leading telecom company in Kenya, has introduced a groundbreaking initiative, "Grow with Safaricom Business," aimed at supporting Micro, Small, and Medium-sized Enterprises (MSMEs) in scaling their operations and navigating the digital landscape. In an official statement, Safaricom highlighted that the platform is designed to provide MSMEs in Kenya with a unique opportunity to
Eyowo Digital Bank Regains Microfinance License and Resumes Operations
Eyowo, the digital bank, has announced the restoration of its Microfinance license by the Central Bank of Nigeria (CBN), as disclosed in a statement shared with tech media outlet Benjamin Dada. The reinstatement, marked by an approval in principle, marks a significant milestone for the financial institution. In May 2023, the CBN had revoked licenses
Homechoice International Reports Robust Financial Results Despite Retail Challenges
JSE-listed Homechoice International has successfully navigated economic challenges and reported solid financial results, driven by its strategic pivot from traditional retail to fintech services. The group, renowned for its HomeChoice brand, witnessed flat group revenue of R3.7 billion for the year ending December 31, 2023. However, operating profit experienced substantial growth, increasing by 28% year-on-year
Google Restricts Election-Related Queries on Gemini AI Chatbot Globally
Google has implemented restrictions on its AI chatbot, Gemini, preventing it from responding to election-related queries in countries where elections are taking place. This move aims to address concerns about the potential misuse and dissemination of inaccurate or misleading information during the election process. The restrictions have been rolled out in the U.S., India, and
The right business solution, or “tech for tech’s sake”?
In an increasingly digital world, choosing the right technology solutions for a business is crucial for success, but navigating the sea of options can be overwhelming, and making the wrong choice can be costly. From financial reporting solutions to project management tools, each decision carries its own set of risks, and there are a number
2024 Earnings threshold announced
Starting from April 1, 2024, the earnings threshold is set to rise to ZAR 254,371.67, reflecting a ZAR 13,261.08 increase from the existing threshold of ZAR 241,110.59. This adjustment, made pursuant to section 6(3) of the Basic Conditions of Employment Act (BCEA), holds significance for the application of specific provisions within the BCEA, the Labour
SolarMente Seeks to Revolutionize Solar Energy Adoption in Spain
In a bid to accelerate the adoption of solar energy in Spain, Barcelona-based startup SolarMente is introducing a subscription-based model for solar panel installations. Spain, despite its abundant sunshine, lags behind in domestic solar panel installations, a situation partially attributed to a historical "sun tax" that was only abolished in 2018. SolarMente aims to seize
Lucid Motors Faces Trademark Challenge for "Gravity" SUV Name Ahead of Production
Lucid Motors, the electric vehicle (EV) manufacturer, is encountering a potential hurdle just months before the scheduled production of its Gravity SUV. Google Ventures-backed EV charging company Gravity Inc. has filed a "petition for cancellation" with the U.S. Patent and Trademark Office's Trademark Trial and Appeal Board (TTAB), seeking to revoke Lucid's trademark for the
Planet42 Secures Funding from Standard Bank to Repay Euro Loans
South Africa-based rent-to-buy start-up Planet42 has announced a successful fundraising round, securing local-currency debt and equity funding from Standard Bank. The Naspers-backed firm, which has raised approximately US$150 million to date, received R300 million from Standard Bank to aid in repaying costly euro-denominated loans. CEO and co-founder of Planet42, Eerik Oja, highlighted the significance of
FNB Slashes Car Licence Disc Renewal Fees in App, Offering Additional Incentives
In a strategic move to enhance customer convenience and boost engagement, First National Bank (FNB) has once again reduced the price of car licence disc renewals within its banking app. This marks the second reduction in a matter of months, with the price dropping from the already-reduced R99 to a more economical R69. To sweeten
Elon Musk's xAI to Open-Source ChatGPT Challenger Grok
Elon Musk's artificial intelligence start-up, xAI, is set to open-source its ChatGPT challenger, Grok, this week, as revealed by Musk on Monday. This move comes in the midst of Musk's recent lawsuit against OpenAI, the organization he co-founded in 2015 but departed from three years later, accusing it of deviating from its original non-profit mission