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Visa Invests in Moniepoint to Empower African SMEs and Advance Financial Inclusion
Moniepoint Inc., Nigeria’s leading business payments and banking platform, has secured a significant investment from Visa, a global leader in digital payments. This strategic partnership underscores Visa’s commitment to fostering financial inclusion, driving the growth of digital payments, and supporting small and medium-sized enterprises (SMEs) across Africa. Founded in 2015 by Tosin Eniolorunda and Felix
Naked Secures Record $38 Million in Series B2 Funding
South African insurtech firm Naked has made headlines by securing $38 million (R700 million) in its Series B2 funding round, which is the company’s largest capital raise to date. This milestone not only showcases Naked’s rapid growth but also highlights its significant role in rejuvenating an industry that has seen limited activity in recent years.
Breaking News today – Tuesday 28 January 2025
Business & Tech News Electrification Plans for Africa: Africa holds the awkward distinction of being the continent with the highest number of people without access to electricity. The impact of this is a large number of people without the means of modern agriculture, limited access to communication, information and effective healthcare facilities. The number of
UD Trucks and the Future of Trucking
UD Trucks, held its annual press briefing at the Cradle Hotel in Muldersdrift this morning, where Filip Van den Heede, Managing Director of UD Truck South Africa, unpacked some of the developments in the company and trading environment. Technology Driving Massive Changes Filip believes that 2025 is an important year for the group and comments
Argentina – Model of Economic Reforms That Works
South Africa could learn many valuable lessons from Argentina and its economic revival at the hands of President Javier Milei. In Particular there should be much to learn from the significant cuts in Argentina’s public spending that has recently delivered a budget surplus in a country once thought to be doomed to bankruptcy and economic
Breaking News today – Monday 27 January 2025
Business & Tech News Indian Court Case Against OpenAI Gets New Momentum: Reuters have reported that the digital news units of Indian billionaires Gautam Adani and Mukesh Ambani, and other outlets like the Indian Express and the Hindustan Times, have mounted a legal challenge against OpenAI's improper use of copyright content. This follows an original
SanlamAllianz Credit Rating Updated
SanlamAllianz Re Ltd (SAZ Re), the reinsurance company with a market presence over 45 countries in Africa, has announced that ratings agency, AM Best, has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to the company. The outlook assigned to these credit ratings is stable, reflecting
ISFAP Invests Over R220 Million in Comprehensive Student Support Since 2017
The Ikusasa Student Financial Aid Programme Foundation NPC (ISFAP) has proudly invested over R220 million since 2017 to provide crucial wrap-around support to students receiving bursaries from the organisation. This substantial investment reflects ISFAP’s unwavering dedication to ensuring that students are equipped with the tools they need to succeed academically and personally as they work
Transforming IT Distribution: Key Sustainability Trends for 2025
As organizations, governments, and communities increasingly demand responsible practices, the IT distribution landscape is undergoing a profound shift. Sustainability is no longer just a buzzword—it’s becoming a cornerstone of operations, innovation, and community engagement. Looking ahead, here are the key sustainability trends poised to reshape the sector in 2025. Sustainability as a Core Business Strategy
How Smart Logistics Powers T20 Cricket
Sports is deeply ingrained in South African culture, evoking a powerful emotional connection that generates an electrifying atmosphere for both players and spectators. Among these cherished sports, cricket stands out as a unifying force, bringing millions of South Africans together. It transcends borders, ignites resilience and passion, and nurtures a profound sense of community. Behind
Taxes in Africa – Are they Effective or Destructive?
None of the global top ten lowest corporate tax rate nations, occur in Africa, and that may be one of the key reasons Africa is lagging behind in terms of global investment rates. While International corporate income tax rates vary, the average rate of corporate tax sits at around 23.45%. There are extremes, with a
Breaking News today – Friday 24 January 2025
Business & Tech News Mozambique Debt to Income Ration Causes Concern: Mozambique's external debt-to-GDP ratio has dropped to 66.2% from 72.1% and with multiple delays in the development of its liquefied natural gas fields, has resulted in concerns that it will be some time, before its external debt service can benefit from the expected gas exports.
PPS launches "glu" – SA’s new Financial "Bestie"
The Professional Provident Society (PPS), today announced the launch of its new financial division, “glu”. The new glu, a new development in the mutual financial entity, has been developed to extend mutuality-driven benefits to a wider audience across South Africa, than their existing portfolio of graduate professionals. The history of mutual societies in South Africa,
How Ares-i is Transforming Retail Risk Management in South Africa with AI Innovation
Xpert Decision Systems’ (XDS) innovative AI-powered facial recognition software, Ares-i, which was launched in 2024, has since shown its capability in helping transform risk management within the retail sector. As businesses face mounting challenges in a volatile economic environment, Ares-i remains an essential tool for proactively identifying, assessing, and mitigating risks that threaten operational stability
Summer Energy Savings with TCL’s Smart Technology
Holiday season may be over but summer heat is not, TCL, a global leader in consumer electronics, offers energy-saving solutions that allow families to enjoy comfort and convenience while managing their energy costs. TCL’s smart air conditioners and appliances are designed with efficiency in mind, helping households stay comfortable throughout the holidays without overloading their
Microsoft Pledges to Skilling One Million People by 2026 in South Africa
Microsoft has made a bold commitment to driving AI skill development in South Africa, and believes that with its youthful population, rich diversity, and rapidly growing tech ecosystems, South Africa and Africa are uniquely positioned to innovate and lead in AI-driven solutions. This according to Lillian Barnard, President for Microsoft Africa, this will require the
Breaking News today – Thursday 23 January 2025
Business & Tech News LinkedIn – Latest in Data Disclosure Court Case LinkedIn is the latest Tech group finding itself on the wrong side of the law by allegedly disclosing the content of private messages on the business focused social media platform. Premium customers maintain that social media platform disclosed their private messages to third
South African Consumer Inflation at 4-Year Low in 2024 – Interest Rates Must Follow
The final average consumer inflation rate for South Africa for 2024 was released today indicating a 4,4% year average. This is the lowest annual inflation rate in four years. Annual average consumer inflation was at 3.3% for 2020 and at 4,1% in 2019 the only two years in the last ten that were lower than
Perspective on Agentic AI Application from ABSA’s CIO
Technologist and tech change expert, Johnson Idesoh, spoke with Businesstech Africa from Davos in Switzerland, where he is attending the World Economic Forum. Idesoh, an IT engineer by background, is currently the CIO at ABSA group with a working history over three decades that includes; Group CIO at Old Mutual, also at a UK company
OpenAI Teams Up with SoftBank and Oracle for Massive AI Data Centre Initiative in the U.S.
OpenAI has announced a ground-breaking collaboration with Japanese conglomerate SoftBank and technology giant Oracle, alongside other partners, to establish a series of state-of-the-art AI data centres across the United States. This ambitious venture, named the Stargate Project, is poised to revolutionize AI infrastructure development in the country. The Stargate Project will kick off with a