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Standard Bank CEO says South Africa losing out to Africa
South Africa is currently losing its competitive advantage over the rest of Africa, with its risk premium deterring investment and making it harder to raise capital to stimulate economic growth. Talking to Newzroom Afrika, Standard Bank CEO Sim Tshablala said the of the bank’s interim results that South Africa is falling behind the rest of
Arrie Rautenbach’s salary at Absa amounts to $2.4 million
Arrie Rautenbach who is the CEO of Absa Group, which is one of the most diversified financial services providers in Africa, received a total compensation of R44.78 million ($2.41 million) for his excellent work at the helm of the leading lender in 2022. This shows a significance of the notable rise of 15.5 percent compared
Tesla working on a Supercharger station with drive-in movie theatre
Teslarati has reported that the electric car company, Tesla has received approval to build a Supercharger electric vehicle charging station with its own diner and drive-in movie theatre in Los Angeles. The official approval documents that the publication received came from the city’s Department of Building and Safety. Initially, Tesla’s application was submitted in November
Minister Kgosientsho Ramokgopa says South Africa’s electricity is ‘albatross’
According to the electricity minister, as the government takes steps to stabilise the grid, the South African electricity distribution system is “an albatross” beset by fighting between the national power utility and municipalities. Eskom, the state-owned company has focused on improving the performance of the mainly coal-fired power stations that have become unreliable due to
MTN looking to offer funeral insurance through WhatsApp
MTN South Africa has made an announcement that it is pushing deeper into financial services, revealing that it will be offering “budget-friendly” funeral cover to South African consumers. The company also revealed that under its new Khava brand, MTN’s prepaid funeral insurance is the first of a range of insurance products designed for the local
Paycorp improves Financial Inclusion in South Africa
The prominent payment solutions provider, Paycorp, has received clearance from the South African Reserve Bank (SARB) as a direct clearing system participant. The accreditation gives power to the company to directly process payment transactions within the National Payments System through BankServ Africa and internationally via its primary memberships with Visa and MasterCard. Paycorp functions as
(SPONSORED) Car Insurer’s Advice: What to Do if You’ve Been in a Car Accident?
If you are ever involved in a car accident, no matter how minor or serious, car insurers stress the importance of keeping your perspective and following a set of procedures in order to file a successful car insurance claim and to stay on the right side of the law. Budget Insurance recommends taking the following
RISING FROM TOWNSHIP ROOTS TO TOP TECH POWERHOUSE: THE INSPIRING JOURNEY OF AMOHELANG LEBELE
From modest beginnings in the heart of one of South Africa's largest townships, Amohelang Lebele’s resilience and determination has culminated in a position at one of the world’s most powerful cloud computing platforms. Instead of faltering in the face of adversity, Lebele thrives on challenges, a testament to her tenacity and can-do attitude. The more
Small companies beware: Cyber-attacks are inevitable
The recent cyberattack on Microsoft serves as a stark reminder that no organisation, regardless of its size or industry, is immune to cyber threats. Even small businesses, often assuming they are less attractive targets, are actually vulnerable. But what are the specific challenges faced by small businesses, and how can you make smart investments in
PAYM8 is expanding its High in Demand E-Commerce platform
One of the biggest tech and financial gateway service providers, PAYM8, has made an announcement that it is expanding its e-commerce offering. This is taking place a response to the South African e-commerce market’s projected growth of 11.89% in the next five years, reaching a market volume of US$9.97 billion, roughly R75 billion, by 2027.
MultiChoice BEE shareholders to receive a combined R1.4-billion in dividends
MultiChoice South Africa’s black economic empowerment scheme Shareholders called Phuthuma Nathi, will be receiving a combined R1.4-billion dividend for the financial year ended on the 31st of March 2023, approved at the group’s AGM on Wednesday. Shareholders are going to be receive R20.37/share before dividend withholding tax (R16.30 after tax) in the first week of
Amazon’s Google Search ad redirects users to Microsoft Defender scam site
Malicious actors are using Google’s ad service to get browsers to click on what seems to be a legit Amazon advert, only to be redirected to a Microsoft Defender support scam, Bleeping Computer reports. The Microsoft Defender scam site states that the device is infected with ads(exe).financetrack(2).dll malware, and it locks the user’s browser. On
Microsoft integrates Python with Excel
Microsoft has made an announcement that it is integrating the popular programming language Python with Excel, allowing users to analyse data in Excel using Python plots and libraries. At the moment, the company is rolling out a public preview for users in the Microsoft 365 Insiders programme beta channel. Microsoft plans to roll it out
WeBuyCars launches an online car registration platform
South Africa's Number one Car Buying Service, WeBuyCars, together with with The Road Traffic Management Corporation (RTMC), is pioneering an online registration of motor vehicles and a change of ownership process. The online platform is offering an even more efficient method for motor vehicle dealers and financial institutions to transact directly with Natis. Now there
BRICS Bank looking to give loan to save Transnet
Founded by the BRICS bloc of nations, the New Development Bank (NDB) is is considering granting an R18 billion loan to Transnet to upgrade the utility’s locomotives and help its rail corridors run at full capacity. Reports from BusinessDay revealed that the bank aims to complete the transaction by the end of the year to
A Medupi built solely by South Africans
Building enough electricity generation to power two million homes in South Africa is something that can undermine the entire state. The Medupi and Kusile coal power stations began their work in 2007, and with some of the largest generators ever conceived, at 4.8GW each to be specific, have become emblems for the chronic problems plaguing
Flutterwave moves forward with IPO plans
Africa’s largest start-up at the moment Flutterwave is moving forward with plans for an initial public offering after making headway in resolving allegations of financial impropriety in Kenya so that it can access more and bigger international partners, its CEO said. One of the co-founders of the pan-African payments company, Olugbenga Agboola, pushed to the
Mobile RAN declines at its fastest pace in 7 years
The one thing that handles mobile communications, the global market for radio access networks has been declined at its fastest pace in almost seven years last quarter, according to a report from Dell’Oro Group, adding bad news to 5G equipment vendors already struggling with sluggish customer demand. As much as the markets were already expected
DMRE needing to account for delays to energy reform
The processing delay of the Electricity Regulation Amendment Bill that came to light last week seem to be appalling. Because of the apparent administrative bungling, the bill has not been properly tabled at parliament by the department of mineral resources & energy, so it has not started the process through committees to become law. It
State airline from North Korea makes first international flight after three years
The state airline from North Korea is back online and it has made its first international trip since the start of the Covid pandemic, in a sign of easing border restrictions that could repatriate its stranded nationals abroad and increase trade with its powerful neighbour. It has been indicated by flight data that an Air