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Vodacom Group Reports Resilient Growth in Q3
Vodacom Group has reported solid financial results for the third quarter, demonstrating resilience amid currency headwinds and a stronger rand. Group revenue increased by 1.6% to R39.5 billion, while service revenue grew by an impressive 11.6% on a normalised basis, surpassing the company’s medium-term targets. Key Financial and Operational Highlights CEO Commentary and Strategic Outlook
Fintechs Float and Peach Payments partnership to benefit consumers and thousands of merchants
Float, Africa’s first credit card-linked instalment platform, announces its partnership with Peach Payments, a leading online payment solution provider. Now thousands of Peach Payments merchants can instantly integrate Float at checkout, broadening the reach of interest-free monthly instalments to more consumers across South Africa. This collaboration enhances the online shopping experience with an innovative and secure payment solution
Energy Specialist Oando Glows with 45% Revenue Growth
Oando is one of Africa's leading integrated energy companies, that is listed on both the Nigerian Exchange (NGX) and Johannesburg Stock Exchange (JSE), has announced a strong financial performance for the Full Year (FY) 2024 with an exceptional 45% growth in revenue to N4.1 Trillion (Nigerian Naira) a big jump from the N2.9 Trillion for
Breaking News today – Monday 3 February 2025
Business & Tech News Expropriation Bill Shuts Down US Funding to South Africa The South African (SA) currency the Rand (ZAR) has fallen by around 2% to 19.01 per USD after US President Donald Trump announced that the US would halt all aid to the country. Trump has accused the SA government of unfair land
SA Fintech 6DOT50 Partners with BTS and Seriti Solutions to Enable Cryptocurrency Car Purchases
South African fintech startup 6DOT50 has joined forces with BTS and Seriti Solutions to introduce cryptocurrency payments for vehicle purchases. This ground-breaking partnership enables customers to buy new and used cars at over 1,400 dealerships nationwide using eight different cryptocurrencies, including Bitcoin (BTC). To address the volatility and complexity associated with cryptocurrency transactions, 6DOT50 utilizes
Google Quietly Rolls Out Gemini 2.0 Pro Experimental AI Model
Google has taken a subtle approach to unveiling its latest AI innovation, Gemini 2.0 Pro Experimental. Rather than a grand announcement, the tech giant introduced the model through a changelog update for its Gemini chatbot app. As the successor to the Gemini 1.5 Pro model, which debuted in February, the launch of Gemini 2.0 Pro
New Drone Deployment Curbs Illegal Border Crossings
The South African government’s new deployment of drones at five high-priority border crossings has already yielded significant results, preventing more than 2,000 illegal border crossings. This initiative, which includes the Beitbridge crossing between South Africa and Zimbabwe, marks a major step forward in border security. Home Affairs Minister Leon Schreiber highlighted the success of the
HUAWEI nova 13 and HUAWEI MatePad 11.5 Arrive in South Africa
While the new products have been available in South Africa since the beginning of January, lastnight saw the official launch of the new Huawei nova13 and the impressive new MatePad model. The big selling point for the nova 13 is its photographic capabilities and AI assisted editing features. Huawei has positioned the product as the
Breaking News today – Friday 31 January 2025
Business & Tech News Honda and Nissan Merger Announcement Delayed Nissan Motor Corporation plans to formally announce the direction of its intended integration with Honda Motor by mid-February 2025, according to a company spokesperson’s statement issued this morning (30 Jan). The initial announcement was to have happened by today. Nissan and Honda, have recently announced joint developments
Breaking News today – Thursday 30 January 2025
Business & Tech News Coca-Cola Products Recalled – After High Chlorate Levels Discovered Coca-Cola has recalled several Coca-Cola products citing elevated levels of the chemical chlorate in the product having been discovered. The ban has affected several regions across Europe, including the UK, Belgium, Luxembourg and the Netherlands. Containers of Coca-Cola Original Taste, Coca-Cola Zero
SARB – Payment Providers Must Be Included in Future Developments
Mr Tim Masela, the Head of the National Payment System Department at the South African Reserve Bank (SARB), spoke today of their vision for the future of banking in South Africa called Vision 2030. Masela was speaking at the launch of the newly formed Association of South African Payment Providers or ASAPP this morning in Sandton. He
ASAPP Launches to Reshape Payment Landscape
The digital payment and digital banking services sector is set for a major overhaul, according to the newly formed Association of South African Payment Providers or ASAPP. The association officially launched this morning (29 Jan) in Johannesburg. “This is our inaugural gathering, today marks an important milestone in our shared journey to reshape the payment
PWC’s Entertainment & Media Report Highlights Growing Online Dominance
Entertainment & Media (E&M) markets across South Africa, Nigeria and Kenya have continued to see growth and is likely to continue in the next 3 years. This is according to the latest Africa Entertainment and Media Outlook 2024–2028 report (E&M report) produced by PWC. The key African markets, in this industry of South Africa (SA),
Security Researchers Uncover Major Vulnerability in Subaru’s Connected Car System
Two cybersecurity researchers recently uncovered a critical vulnerability in a Subaru web portal that allowed unauthorized access to millions of vehicles. According to a Wired report, the flaw enabled remote unlocking, engine activation, and real-time tracking of driver locations, raising significant concerns about automotive cybersecurity. The researchers, Sam Curry and Shubham Shah, reported their findings
Egypt Expands Venture Capital Investments to Strengthen Startup Ecosystem
Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has announced a significant $7.5 million investment across three regional venture capital funds, reinforcing its commitment to fostering entrepreneurship and supporting startups. This initiative aligns with Egypt’s Vision 2030 strategy, which emphasizes economic diversification and innovation to drive long-term growth. One of MSMEDA’s latest contributions includes
Botswana Strikes Landmark Diamond Deal with De Beers
Botswana’s newly elected President, Duma Boko, has secured a pivotal diamond extraction and sales agreement with De Beers, bringing stability to the nation’s gem-reliant economy. The agreement, finalized by midnight on January 24, will be formally announced in the coming days, Boko confirmed in a recent interview. As the world’s leading producer of rough diamonds
Breaking News today – Wednesday 29 January 2025
Business & Tech News US Tech Stocks Rebound U.S. stocks saw a rebound yesterday, led by the Nasdaq’s 1.5% surge, as technology shares recovered from Monday’s AI-driven sell-off triggered by Chinese AI start-up DeepSeek’s announcement of a competitive AI model. Nvidia clawed back 8.8%, recovering some of its historic 17% single-session loss on Monday that
Prescient Launches new Domestic Balanced Fund
Businesstech Africa spoke to Rupert Hare, Head of Multi-Asset portfolio at Prescient Investment Management, about their newly launched Prescient Domestic Balanced fund. Prescient is an independent systematic investment company, meaning that they utilise sequence of data driven systems that deeply analyse stocks and investments, independent from any sentiment type decisions. Why a Local Focused Fund
DeepSeek's R1 Model Disrupts AI Industry and Challenges Nvidia's Dominance
DeepSeek, a Chinese AI startup, has set the AI industry abuzz with the release of its ground-breaking R1 model. Unveiled on Friday, R1 has drawn widespread attention for its impressive functionality and accuracy, rivalling U.S.-based counterparts while using fewer resources and less computational power. While this milestone is undoubtedly a win for the global AI
Democratic Republic of Congo Showcases Opportunities at Paris Forum
The Democratic Republic of Congo (DRC) took centre stage on the 21st of January 2025, hosting the "Invest in DRC" forum in Paris. This event, organized in collaboration with NBA legend Tony Parker, highlighted the DRC’s untapped potential and its commitment to attracting global investors. With the endorsement of President Félix Antoine Tshisekedi, the forum