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Breaking News today – Thursday 31 October 2024
Business & Tech News South African Mid-Term Budget Draws Concerns: While State Owned Enterprises such as Eskom and Prasa are not provided any further bail-outs in the budget that Minister of Finance, Mr Enoch Godongwana, tabled yesterday, there have been big concerns raised regarding the reduction of budgets for the National Prosecuting Authority and the
Cyber Fraud – A Global Scourge
In the first half of 2024, 4,9% of all attempted digital transactions, where the consumer was located in South Africa, were identified as suspected digital fraud, according to a recent analysis by TransUnion. The analysis determined that telecommunications, financial services, and communities (online dating forums etc.) were the industries that had the highest suspected cyber
CIPC Launches Digital Registration Platform to Support the Growth of South African Cooperatives
The Companies and Intellectual Property Commission (CIPC) has introduced an innovative automated registration system, marking a major step forward in its modernization efforts. This initiative aims to improve South Africa’s socio-economic landscape by promoting poverty reduction and job creation. The CIPC acknowledges that cooperatives play a crucial role in driving economic empowerment, particularly among marginalized
Bolt Lite Grows by 10% Month-on-Month, Expanding Affordable and Accessible Transport in SA
Bolt, the leading ride-hailing platform in South Africa, continues to champion affordable and accessible transport with its Bolt Lite category, which has seen a remarkable 10% month-on-month growth since its launch in 2023. The category, utilising fuel-efficient Bajaj vehicles, offers the lowest trip fares in the industry, providing a cost-effective and inclusive solution for commuters
Nutanix Hosts First Cloud Day in Lagos, Reinforcing Commitment to Africa’s Digital Future
Nutanix, a leader in hybrid multicloud computing, recently successfully held its first-ever Nutanix Cloud Day in Lagos, Nigeria, marking a significant milestone in its commitment to driving digital transformation in West, East, and Central Africa. The event brought together industry leaders, partners, and customers to explore the future of multicloud infrastructure and enterprise AI in the
Westcon-Comstor boosts profitability as shift to recurring revenues accelerates
Westcon-Comstor, a global technology provider and specialist distributor, today announced an increase in profitability, alongside strong growth in cybersecurity and an acceleration in its shift to a software, services and subscription-based recurring revenue model. Posting its first-half results for the six months to 31 August 2024 (H1 FY25), the company reported a 16.5% year-on-year increase in EBITDA
DEI in asset management – 27four launches SA’s first benchmarking framework
Financial services group 27four, today launched South Africa’s first benchmarking framework to measure DEI in the asset management sector. The framework was launched during a media event held at the JSE in Johannesburg. The South African asset management industry is a complex landscape with an array of established and new entrants with new product ranges.
Young South Africans Lead with Environmental Tech Solutions in MTN-WWF PachiPanda Challenge
Young South Africans who accepted the PachiPanda Challenge have shown that amongst all the dire predictions and reports regarding the climate crisis, by combining technology with passion for the environment, there is still hope for our climate future. The proof that even the most pressing environmental events can be tackled with practical tech-led interventions is
Medium-Term Budget Statement Disappoints
Overview of Budget Revisions Finance Minister Enoch Godwana has tabled his 2024 medium-term budget policy statement (MTBPS) with a few not-so-new policy decisions and a revised economic forecast. South Africa's National Treasury has revised its budget projections, forecasting deeper deficits in the budget than anticipated, with larger national debt incurred over the next three years due to
(SPONSORED): Give your business the account it needs to succeed
Having an Absa business bank account sets your business up for success. By allowing you to keep your personal and business finances separate, you can keep track of all your business expenses and incomes. Your business builds its own profile to keep all transactions professional should you need to apply for funding or other financial
Breaking News today – Wednesday 30 October 2024
Business & Tech News Tech Stocks Surprise: The Nasdaq scored a record closing high and the S&P 500 rose on Tuesday, while the Dow fell as investors digested a host of corporate earnings and awaited Google-parent Alphabet's results that came after the market close. Alphabet, one of the seven megacap American technology stocks, reported its quarterly revenue that
Strauss & Co unearths rare Single Cask Brandies in a new and exclusive Cape Fine Brandy Auction
Strauss & Co, South Africa’s leading wine and art auction house, has announced the Strauss & Co Cape Fine Brandy Auction, that will take place from 6-18 November 2024. The auction format will be a timed-online auction sale and features a definitive selection of the most rare and exceptional, aged Cape Fine Brandies, from the
Greater Electricity Supply Required to Ensure Growth in South Africa
29 October 2024 – According to the Standard Bank / Cresco Energy Market Report released today, South Africa will only hit 2024’s current energy demand requirement by 2040. South Africa’s privately procured energy market is currently projecting green energy supply to hit 20% to 35% of its decarbonisation target that will last until 2026 on
South Africa's Online Grocery Sector: Trends, Challenges, and Yassir's Innovative Approach
As South Africa undergoes a digital transformation, the online grocery delivery sector is experiencing revolutionary changes. The shift from in-person to online shopping is accelerating, particularly among middle-class to upper-class consumers, signalling a significant growth trajectory for the market. South Africa’s online grocery market is poised for significant growth, with the market value expected to
Emirates Goes Virtual – Safety Training Prioritised with VR Tech
Virtual reality training has long been utilised by airlines for training purposes, particularly for pilots and air-control staff. VR simulations enable trainees to practice high-risk manoeuvres and emergency procedures without compromising safety. This hands-on experience improves decision-making, situational awareness, and response times, ultimately enhancing overall flight safety. The training courses in the aviation industry
TCL Extends Partnership with Activision to Launch Call of Duty
TCL Electronics, a leading consumer electronics brand and the world’s top two TV brand, is proud to announce its extended partnership with Activision as the Official TV Partner for the highly anticipated release of Call of Duty: Black Ops 6. In a successful and exciting launch event held in Abu Dhabi, TCL participated alongside key
Breaking News today – Tuesday 29 October 2024
Business & Tech News IFC Partners with Nigerian Central Bank: In a significant move to improve exchange ability and scale, the central bank of Nigeria has signed an agreement with the International Finance Corp (IFC) to expand local currency financing for Nigerian businesses that will remove foreign exchange risks. At the announcement yesterday, it was
Governance as a Gateway: Advocacy for Accountability and Transparency in Africa
With countless issues around financial controls and mismanagement of funds across Africa, it has become a pandemic of unethical behavior that is crushing the aspirations of Africans to see the continent thrive and grow. Ethical governance has been proven to be a cornerstone of growth potential, ensuring that the taxes and revenues accrued to governments
AI in Action 2024 – Leaders and Learners
The newly released AI in Action 2024 report from IBM, identifies what separates AI Leaders from AI Learners. The report covers core business issues, with an AI adoption perspective, from productivity to profitability. The report identifies the AI Leaders who are reaping the rewards of AI today and compares this to those in the learner
Chill Beverages and Inhle Scores in Sale to Alterra Consortium
28 October 2024: Standard Bank has announced today, that it has acted as sole financial advisor to Chill Beverages and Inhle Beverages, a company currently owned by Old Mutual Private Equity and the company’s Management team, on the sale of the business to Alterra Capital Partners, Mineworkers Investment Company (MIC) and Admaius Capital Partners. Chill