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Threads Might Add 48 Billion To Meta’s Revenue By 2025
Meta launched Threads last week Thursday and already Millions of users have joined the platform. Even though it is still early days, however, the App shows potential of generating cash for Meta. Threads will reach close to 200 million daily active users and have the potential of generating about US$8 billion in annual revenue over
Vodacom to invest over R500 million in Eastern Cape to connect the unconnected, drive digital inclusion
Vodacom Eastern Cape region will invest over R500 million into the network and power backup upgrades across the province during the 2023/2024 financial year. This significant investment into the network will help the region expand connectivity in deeply rural areas and townships that had no connectivity before. This will enable hundreds of thousands of people
RESERVE BANK HAS BLOCKED R5.52BN OF STEINHOFF FUNDS
The South African Reserve Bank (SARB) has declined to comment on whether it froze funds in five accounts connected to troubled company Steinhoff's local operations. The Daily Maverick, an online publication, reported that the central bank had frozen approximately R5.5 billion of Steinhoff's funds. Steinhoff, which owns stakes in various companies including Pepkor and Pepco,
Zambia’s private sector business conditions expanded further in June
Mauritius: Consumer inflation was unchanged 7.9% y/y in June, coming in slightly higher than our 7.7% estimate. CPI rose by 0.4% m/m, following a 0.2% increase in May as increases in alcoholic beverages & tobacco prices (+7.0% m/m), recreation & culture (+0.6%) and restaurant & hotels (+1.9%) offset decreases in food & non-alcoholic beverages (-0.3%), housing
Load Shedding Could Come To An End Soon
With energy availability increasing to almost 70 % , according to a cabinet statement on Thursday, South Africa’s power crisis could end sooner than anticipated according to Minister of Electricity, Kgosientsho Ramokgopa. In a media briefing in Pretoria on Sunday, Ramokgopa said, “I said when I started this assignment, we will resolve load shedding and
It’s Official – Vodacom is SA’s Most Reliable Network
It’s official – Vodacom is South Africa’s ‘Most Reliable Network’. The latest biannual network report by the independent benchmarking organisation umlaut, part of Accenture, has ranked Vodacom ‘Best in Test’ ahead of competitors and scored the highest for reliability, data services and crowdsourced quality. This is testament to Vodacom’s commitment to deliver unparalleled connectivity to
Twitter vs Threads: Twitter Threatens to Sue Meta Over Threads
Twitter is reportedly threatening to sue Facebook and Instagram parent Meta against its newest text-based social media platform, Threads. According to a cease-and-desist letter obtained by Semafor, Twitter which is owned by Elon Musk who is the wealthiest person in the world, is accusing Meta poached Twitter’s employees and for the “copycat” app, Threads. Twitter’s
Apple Increase iCloud Prices in South Africa
Apple has increased its iCloud prices in South Africa. The cost of an iCloud subscription in South Africa has increased by 13% from R45 to R60/month for the 200GB tier. While the 2TB tier has increased by 33%––jumping from R150 to R200 per month. Whereas the 50GB tier remains the same at R15 per month.
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Funding Options For Companies Looking to Go Solar
With load shedding being one of the country’s problems, most companies are affected by the load shedding and looking for ways that can reduce the damage caused by load shedding. A tax incentive is making it easier for business owners that are looking to go solar. in February 2023, section 12B tax incentive, in terms
private sector activity expanded at a faster pace in Mozambique but slowed in Ghana and Uganda and contracted further in Kenya
Mozambique’s PMI rose to 51.3 in June from 50.5 in May as new sales orders accelerated for the fifth consecutive month. The increase in new business saw firms raise their employment levels and output. The pick-up in activity was broad-based, with all five sectors covered in the survey reporting an increase in output. While firms reported
Flight Tickets Getting Affordable in South Africa
According to Lift CEO, Jonathan Ayache, flight tickets are much more affordable than they have been the previous year. The past year flight tickets in South Africa went extremely high with an over 60% increase. The increase was due to fewer local flights available caused by the pandemic. This month the tickets have decreased in
To Have a Tax-Free Savings Account or Not?
Should you have a tax-free savings account or not? It seems as if it is the ideal vehicle to save in, regardless of the goal or time horizon, because the returns are tax-free. However, there are a few considerations when it comes to having a tax-free account. Ester Ochse, Product Head, FNB Integrated Advice says
Johannesburg Roads Agency and Vodacom South Africa, partners to keep traffic lights working during load shedding
Vodacom South Africa (VSA) is the latest company and property owner to partner with the Johannesburg Roads Agency (JRA) to ensure that traffic signals along major intersections operate during load shedding. This partnership spearheaded by the JRA and facilitated through a Service Level Agreement (SLA) will leverage electricity sourced from Vodacom’s adjacent buildings to power traffic
Automotive Sector to Be Revolutionised by the New Castrol MAGNATEC with DUALOCK Technology Lubricant
Castrol, a global leader in automotive lubricants, has announced the launch of its highly anticipated innovation, Castrol MAGNATEC with DUALOCK technology. This ground-breaking industry advancement, now available in Africa is set to transform the driving experience of consumers by providing non-stop protection from every start. For over 120 years, Castrol has been a leader in
Kenya’s real GDP growth accelerated to 5.3% y/y in Q1 23, supported by a recovery in the agriculture sector
Kenya: Real GDP expanded by 5.3% y/y in Q1 23 compared with 3.7% in Q4 22. While a detailed GDP report is not yet available, Bloomberg data show that the expansion in GDP was supported by output in the agriculture sector, which saw its production rise following four consecutive quarters of contraction. The pick-up in Kenya’s
Businesses under severe pressure
According to a survey released Wednesday, 05 July 2023, South Africa’s private sectors contracted for the fourth consecutive month in June as prices continue to climb up and affect business. “Sharply rising output prices continue to harm client demand as businesses and households limit spending in the current high-inflation environment,” said David Owen, economist at S&P
72% of companies in South Africa fail to submit annual returns
According to CIPC’s report, Non-compliance is still rising in South Africa as SMEs fail to submit their annual returns. 72% of companies in South Africa have failed to submit their returns and this is due to the introduction of fintech solutions. About 3.1 million companies are registered in South Africa and only 72% don’t submit
Threads Will Launch Thursday, And Will Rival Twitter
Facebook and WhatsApp parent Meta plan to launch its long-awaited Twitter competition, a microblogging app, Threads. The launch news comes days after the Twitter owner, Elon Musk, introduced new rate limits to the blue app which created a frenzy and confusion among its users. Threads, Instagram’s text-based conversation app, is expected to launch on Thursday
Nigeria’s sharp rise in price pressures weighed on new business and output growth, while business confidence dropped to the second lowest on record
Nigeria: Private sector activity expanded further in June, albeit at a slower pace as the PMI eased to 53.2 from 54 in May. The decline in the PMI is attributed to a moderation in the pace of output and new sales orders as price pressures increased sharply following the removal of fuel subsidies. Survey respondents reported