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FPG Technologies and Nutanix Forge a Path for Nigeria's Digital Economy
As Nigeria's digital economy experiences unprecedented growth, the demand for robust IT infrastructure and adherence to data sovereignty regulations has become paramount for businesses. FPG Technologies and Solutions, a premier system integrator with a strong foothold in cloud and cybersecurity, has partnered with Nutanix to deliver tailored, scalable, and secure infrastructure solutions to meet these
Student Loan Applications Surge at Standard Bank Amid Rising Tuition Fees
Standard Bank has reported a notable increase in student loan applications, particularly for postgraduate studies. The bank’s 2024 data reveals a significant rise in loan disbursements and double-digit growth in limit increases, reflecting the growing demand for financial support as tuition fees continue to climb annually. Tshiamo Molanda, Head of Youth and Mass Market Clients
SA young scientists compete at Taiwan International Science Fair
Innovative research projects by South African young scientists focused on AI-driven customer insights and sustainable plant propagation solutions, are currently on display at the Taiwan International Science Fair 2025. More than 600 young scientists from 27 countries worldwide are competing in the science fair, which will be held in Taipei from 18 to 25 January
IMF Projects Slight Global Growth Improvement Amid Rising Economic Uncertainty
The International Monetary Fund (IMF) has raised its global growth forecast for 2025, projecting an uptick of 0.1 percentage point. According to the IMF’s latest World Economic Outlook, global growth is expected to reach 3.3% this year and remain steady at that level through 2026. IMF Chief Economist Pierre-Olivier Gourinchas highlighted in a blog post
Breaking News today – Tuesday 21 January 2025
Business & Tech News Lithium Concentrator deal in Zimbabwe to go Ahead: Zimbabwe's state-owned Kuvimba Mining House is anticipating growth in the price for Lithium as it looks to close a deal with a consortium of Chinese investors for the construction of a lithium concentrator, first announced in July last year. The deal, expected to
Adebayo Ogunlesi Joins OpenAI’s Board of Directors
In a strategic move underscoring its commitment to global governance and innovation, OpenAI has appointed Nigerian investment leader Adebayo Ogunlesi to its Board of Directors. A globally recognized figure in finance and infrastructure, Ogunlesi’s appointment reflects OpenAI’s intent to broaden its reach and address the multifaceted challenges of artificial intelligence (AI) development. OpenAI has highlighted
Business Averse Policy Continues to Strangle Growth in South Africa:
Commission Recommends Increase for 2025 The announcement by the National Minimum Wage (NMW) Commission over the weekend, in the government gazette, outlines its recommendations for the annual review of the national minimum wage. The Consumer Price Index (CPI), which measures changes in the prices paid by consumers for goods and services over time, is a
Frogfoot RISE Fibre Partnership with BareMetal a Success
Digital Divide Remains a Challenge In South Africa, it is estimated that around 20% of the population still remains digitally unconnected. Particularly in rural and underserved communities where existing infrastructure still needs major development. In a new venture announced, this is one of the solutions required to address this and ensure that the country achieves
Breaking News today – Monday 20 January 2025
Business & Tech News TikTok Back up in US After Trump Extension Promise: Chinese owned social media TikTok, had faced a ban in the US after out-going president Biden had signed a bill that the company must find a US purchaser or shut-down its US operation. Yesterday saw the service initially shut down all US
Business Leadership Lessons
Elon Musk, while sometimes a controversial figure, is undoubtably one of the most remarkable and successful business leaders of our age. Considering that he runs six major corporations with incredible attention to detail, is an impressive achievement in anyone's book. That these corporations, are the size and scope that they are, takes it to another
The Rapid Expansion of AI in South Africa, Bridging the Gap in Education
Artificial intelligence (AI) is rapidly transforming industries worldwide, with South Africa witnessing swift adoption in some sectors while others, such as education, struggle to keep pace. Jaco Oosthuizen, Rectron's category manager for mobility, highlights how AI could be the catalyst to resolve South Africa's persistently poor academic outcomes. Globally, AI is seeing unprecedented growth. In
Red Hat Launches OpenShift Virtualisation Engine
Red Hat, Inc., the world's foremost provider of open source solutions, has announced the general availability of Red Hat OpenShift Virtualisation Engine. This new edition of Red Hat OpenShift is designed exclusively for organisations seeking a dedicated platform to leverage proven virtualisation functionalities within OpenShift. By focusing solely on virtualisation workloads, Red Hat OpenShift Virtualisation
Teaching Kids About Money: A Lifelong Skill
With nearly half of South Africans considered financially illiterate, equipping children with money management skills is an essential responsibility for parents. Research by behavioural experts David Whitebread and Sue Bingham from the University of Cambridge reveals that children begin forming money habits as early as seven years old. Niresh Gopichand, Director of Risk at Atlas
Ithala Bank Facing Liquidation
The Prudential Authority, a division of the South African Reserve Bank, has applied to the Pietermaritzburg High Court for the provisional liquidation of Ithala SOC Limited. Ithala, while referred to as a bank, was not operating under a banking license. The financial institution was granted a special exemption the Minister of Finance in terms of
SPAR Group Battles Debt Challenges
SPAR, the local retailer group in South Africa, has announced it will be selling its Pinetown head office and other non-core assets. The move comes in the wake of poor results in 2023 and its large debt that sits at the R9-billion level currently. Poor Investment Consequences The group has also indicated that it would
Breaking News today – Friday 17 January 2025
Business & Tech News Energy Development in Tunisia Supported by Italy: A new 400 million Euro agreement between Italy and Tunisia was formalized yesterday during a meeting in Rome between Italian Foreign Minister Antonio Tajani and Tunisian Foreign Minister Mohammed Ali Nafti. The agreement takes the form of a two-year partnership, with Italy pledging the
Is Energy Generation in SA on Track to Support Economic Growth?
South Africa’s Energy planning and development is managed primarily by the The Department of Mineral Resources and Energy (DMRE). Their plan for development in the energy sector, is guided by the Integrated Resource Plan or IRP. IRP provides the outlook of electricity demand and anticipated growth, together with what energy generation sources should be procured
Nigeria's Inflation Hits 34.8% in December Amid Festive Demand Surge
Nigeria's inflation rate climbed for the fourth straight month in December, reaching 34.80%, according to the latest data from the National Bureau of Statistics (NBS). This marks a slight increase from November's rate of 34.60%, reflecting heightened economic pressures during the festive season. The NBS attributed the uptick to a seasonal surge in demand for
Hydrobox Secures $9 Million to Transform Rural Electrification in Kenya
Kenya’s Hydrobox is poised to redefine rural electrification with a ground-breaking $9 million (R169,762,014) debt financing deal from FMO, the Dutch entrepreneurial development bank. This significant investment will enable Hydrobox to scale its innovative hydro-powered mini-grid projects, making clean and affordable energy accessible to underserved communities across the country. Hydrobox’s pioneering approach integrates small-scale hydroelectric
AFC's Inaugural Hybrid Bond Raises US$500 Million
Africa Finance Corporation (AFC), a leading infrastructure solutions provider, has successfully issued a US$500 million perpetual hybrid bond. The landmark transaction, is AFC’s debut hybrid bond issue, demonstrated AFC’s potential in accessing global capital markets and financing transformative infrastructure projects across the African continent. Bond Oversubscribed The Bond, that was priced at a coupon of