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Botswana Finalises Landmark Diamond Sales Agreement with De Beers
On Tuesday, the Botswana government secured a landmark diamond sales deal with De Beers, marking a significant achievement for the country’s economy after seven years of intensive negotiations. This new agreement strengthens the government's stake in diamond sales through Debswana, the joint venture with De Beers, which is a subsidiary of Anglo American. This move
Amazon Unveils Major Overhaul of Alexa with Generative AI Integration
Amazon has unveiled a significant upgrade to its Alexa voice assistant, marking its first major overhaul since the service was introduced over a decade ago. The new version, embedded with generative artificial intelligence (AI), represents a key milestone for the company, which has invested billions into Alexa since its 2014 debut. The introduction of Alexa+,
GiriToday: A New E-Commerce Platform Bringing Authentic African Products to the World
For many Africans living in the diaspora, accessing authentic African products—whether it’s traditional fabrics, spices, clothing, or art—has long been a struggle. Options often involve overpriced local stores, resellers on global platforms like Etsy with steep markups, or relying on travellers from the continent to bring goods back. But what if it were possible to
US Discontinues Power Africa Initiative, Ends Over a Decade of Efforts to Expand Electricity in Africa
The US government has officially dismantled the Power Africa initiative, a program designed to expand electricity access across Africa, after over a decade of work, according to a report by Bloomberg News on Wednesday. The move marks the conclusion of a major effort launched by former President Barack Obama in 2013 to provide electricity to
Nvidia CEO Jensen Huang Optimistic About Company’s Future Amid DeepSeek Concerns
Nvidia CEO Jensen Huang remains confident in the company’s future, dismissing concerns that DeepSeek’s R1 model will impact sales, a point he reiterated during the latest earnings call on Wednesday. Speculation surrounding DeepSeek’s R1 model, which was rumored to require fewer chips to train, led to a significant drop in Nvidia’s stock price last month.
Announcing the Verto Global Business Awards
If you are an early-stage startup business and ready to take on the world, then you should take a look at the newly launched, Global Business Awards program, sponsored by Verto, the global fintech leader in cross-border payments and banking solutions. The competition will be kicking off as of 1st March 2025. “The world today
Harmony Trading Statement Update Shows Good Growth in HEPS
In a trading update released today (27 Feb), for the half year ending 31 Dec 2024, Harmony has announced that the results are set to differ by at least 20% from the financial results for the comparable six months ended 31 December 2023 ("the previous comparable period" or "H1FY24"). This is a significant increase and
Breaking News today – Thursday 27 February 2025
Business & Tech News Mali Mine Deal Confirmed: Ambrosia Investment Holding, a UAE investment fund, has bought a 50 percent stake in the Sadiola mine in the African state of Mali from Canadian-listed mining group, Allied Gold. Ambrosia Investment Holding, a newly formed investment fund chaired by Ahmed Amer Al Amry, has agreed to a
African Development Bank & Standard Bank Partner to Assist SME's
The African Development Bank Group (www.AfDB.org) and Standard Bank Group (SBG) signed a landmark financial agreement on Monday (24 Feb) to enhance funding for small, medium, and micro enterprises (SMMEs) and expand trade across Africa. Fund Aimed at Scaling Businesses The agreement includes a R3.6 billion investment in a social bond and a $200 million
African Rainbow Minerals Braces for Sharp Decline in Half-Year Headline Earnings
African Rainbow Minerals (ARM) has warned of a substantial drop in headline earnings for the first half of its 2025 financial year, as weaker commodity prices and rising costs weighed on its performance. The mining group, founded by billionaire businessman Patrice Motsepe, released a trading update on Tuesday, 26 February 2025, cautioning shareholders about an
The Importance of an Emergency Savings Fund: A Financial Lifeline
Life is unpredictable, and unexpected expenses can arise at any moment. Whether it’s a sudden medical bill, urgent car repairs, or job loss, having an emergency savings fund acts as a crucial financial safety net. Experts recommend saving enough to cover three to six months’ worth of essential expenses to cushion against unforeseen financial hardships.
South Africa's Tourism Sector Poised for Growth with Visa Reforms and Global Spotlight
In his recent State of the Nation Address (SONA), President Cyril Ramaphosa announced significant visa reforms designed to invigorate South Africa’s travel and tourism industry. Central to these changes is the implementation of the Electronic Travel Authorisation (ETA) system, a fully digitised visa application process aimed at enhancing efficiency and security for international visitors. Leveraging
Bidvest International Logistics Secures Seventh PMR Africa Diamond Arrow Award
Bidvest International Logistics (BIL) continues to solidify its position as a leader in South Africa’s logistics sector, securing the prestigious PMR Africa Diamond Arrow Award for an impressive seventh consecutive year. PMR Africa’s annual awards celebrate professional excellence across various industries, recognizing companies that set benchmarks in service delivery. Finalists are determined through industry surveys
The Rising Threat of Scams: How Every Generation is Affected
Scams have reached unprecedented levels in South Africa, posing a growing concern for people of all ages. The Southern African Fraud Prevention Service (SAFPS) reported a staggering 32% increase in fraud incidents in 2024 alone. While many assume that scams primarily target older individuals, recent trends show that younger generations are increasingly falling victim to
Breaking News today – Wednesday 25 February 2025
Business & Tech News DeBeers Diamond Deal Done: The Botswana's government, has signed off the long-expected diamond sales agreement with De Beers’ holding group, Anglo American. The deal was signed yesterday (25 Feb) and covers a 10-year diamonds sales period with a possible extension period of five more years included in the agreement. The state-owned,
BT and Equinix Expand Partnership to Enhance Global Digital Interconnectivity
BT and Equinix have announced an expansion of their strategic partnership, aimed at revolutionizing interconnectivity for multinational businesses. This initiative is designed to drive innovation and accelerate business outcomes by transforming the digital value chain. BT’s AI-ready Global Fabric network-as-a-service (NaaS) platform is now integrated into more than 30 Equinix data centres worldwide, with plans
Global VISA Spending Momentum Index Moving Upwards After Dip
The numbers don’t lie, or so the saying goes, and when you start analysing the depth of data that an international payment processor such as VISA owns it creates a fairly accurate picture of consumer spend patterns. Wayne Best, Chief economist at VISA, presented updated payment data in Cape Town today, that shows how, on
Departure from Digital Danger in Financial Transactions
Businesstech Africa is reporting live from the VISA CEMEA conference in Cape Town today (25 Feb) with a front row view of the payments landscape that is shaping a revolutionary future. The reality faced by the payments industry today, is that there is a large crime element that is constantly seeking to compromise payments, and
Aions Creative Technology expands its portfolio with Milli and Franc Investment
Venture builder Aions Creative Technology announced the addition of two innovative startups, Milli and Franc, to its investment portfolio, bringing the total number of investees to 11. This expansion underscores its commitment to fostering entrepreneurship that drives job creation and economic growth in South Africa. Driving financial inclusion with Franc Franc is a digital wealth platform
Breaking News today – Tuesday 25 February 2025
Business & Tech News Bank Replacing Humans with AI: The potential of widespread job-losses has again been highlighted in Singapore where Singapore's largest bank, DBS has announced that it expects to cut 4,000 jobs over the next three years, that will, in future be fulfilled by artificial intelligence (AI). The banking industry is not the