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Robust tax receipts in December point to a deficit undershoot
The National Treasury yesterday published fiscal data for the main budget in December. The main budget posted a surplus of R45bn, with broad-based strength in tax collections. For April to December, the cumulative deficit is now 16.4% lower than the same period a year earlier, versus an MTBPS forecast of an unchanged deficit in FY22/23
2022's best-selling smartphone brands
According to the International Data Corporation's (IDC) Worldwide Quarterly Mobile Phone Tracker, South Korean tech giant Samsung will continue to be the world's top-selling smartphone brand in 2022. In 2022, the smartphone industry had a significant 11.3% drop in sales, with 1.21 billion handsets delivered – the lowest level since 2013. However, the industry's two
Convergence Partners obtains R5.1 billion for a fund to invest in digital infrastructure
The Convergence Partners Digital Infrastructure Fund (CPDIF) has reached a total capitalization of $296 million (R5.1 billion). It stated that this was 18% greater than its intended goal. Convergence Partners is a private equity firm that focuses in the technology sector in Sub-Saharan Africa. “This achievement is despite subdued private capital fundraising on the continent
How much can a solar power system contribute to the value of your home?
How much can a solar power system contribute to the value of your home? Installing backup power equipment such as a solar system for your home might boost its worth by up to 8%, and South Africans have numerous alternatives for paying off the expenditures over time. According to Only Realty general manager Megan Ladbrook,
Google has developed an AI music generator
Google researchers have created an artificial intelligence (AI) music generator that takes text cues to generate minutes-long musical compositions, according to a research paper published by the firm. MusicLM is a new product from Google that employs a hierarchical sequence-to-sequence architecture for conditional music synthesis. The music is created at a rate of 24kHz, which
Banks where you may obtain your passport and smart ID
More than 30 bank locations are now available for South Africans to renew their passports or apply for a smart ID card. However, there are significant inconsistencies between the DHA's roster and the branches listed on its online booking platform. The DHA-supported bank locations listed on the eHome Affairs platform can handle such applications, however
<strong>Consumers spent big on groceries, entertainment and fuel in December</strong>
With Janu-worry drawing to a close, and as South Africans recover from the traditional spending over the December holiday period, BankservAfrica’s Point-of-Sales (POS) transactional data showed how the spend varied among cost-conscious consumers. “The total spend during the month amounted to R100 billion as volumes reached 142 million in December,” says Solly Bellingan, Head of
Load-shedding provides wireless ISPs a competitive advantage over cellular networks Says expert
Wireless Internet service providers (Wisps) have a particular edge over mobile network operators due to Eskom's rotating power interruptions (MNOs). According to Paul Colmer, a member of the Wireless Access Providers' Association's executive management committee, Wisp network equipment uses a quarter of the power that carrier-grade cellular equipment does. “There is a new sheriff in
Ground-breaking initiative supports African mayors to transform their cities
African Mayoral Leadership Initiative (AMALI) is the first leadership programme focused specifically on African city leaders The African Mayoral Leadership Initiative (AMALI) outlined plans today to catalyse city transformations throughout the continent. The programme will provide African city leaders exclusive, tailored assistance, drawing on the views and expertise of a renowned group of coaches that
Eskom intends to lay off 500 white maintenance employees
According to Solidarity, Eskom plans to lay off 500 white male employees, the majority of whom work in maintenance, over the next two years. The union indicated that this is part of the utility's most recent Employment Equity (EE) Plan for 2023 to 2025. To assist alleviate the electricity crisis, the organization's legal team has
Huawei launches the Mate 50 Pro in South Africa — price and details
Huawei has announced the launch date and price of its next flagship smartphone, the Mate 50 Pro, in South Africa. In September 2022, the Huawei Mate 50 Pro will be introduced in the company's other main worldwide markets. The symmetrical body design of the premium smartphone is highlighted by a large aluminium alloy camera ring
Shutterstock has launched an AI picture generator that predicts how Julius Malema, Helen Zille, and Jacob Zuma will look like
Shutterstock is the latest business to develop an AI picture generator that allows users to generate images using text prompts. Shutterstock's Creative Flow toolbox, a media production and editing suite, includes the functionality. Shutterstock chief executive officer Paul Hennesy said the business has been working with strategic partners including OpenAI, Meta Platforms, and LG AI
Joburg's R401-million proposal to reduce three levels of load-shedding
The City of Johannesburg (CoJ) has launched an R400 million programme to reduce load-shedding by up to three stages and, eventually, to eliminate cyclical power interruptions in the city. Johannesburg Mayor Mpho Phalatse made the statements during a briefing in the Mayoral Parlour. She stated that the CoJ is considering establishing an infrastructure fund to
“Let us act to transform Africa’s cities”—African Development Bank President to African mayors
African Development Bank Group President, Dr Akinwumi A. Adesina, assures mayors at the African Mayoral Leadership Initiative (AMALI) of the Bank’s support to creatively and sustainably transform their cities The number of people living in African cities is predicted to double by 2050, from 600 million to 1.2 billion, reflecting the world's fastest pace of
TymeBank and one of South Africa's largest retailers are undergoing significant transformations
TymeBank, a South African digital bank, has collaborated with The Foschini Group (TFG) to provide consumers with three new financial solutions for shopping and banking. Customers may now create a TymeBank TFG Money account in less than 5 minutes, with no monthly fees or paperwork, thanks to the installation of over 600 kiosks across TFG
IIASA CGI report on SA’s state of governance
According to the 9th edition of the Institute of Internal Auditors Corporate Governance Index (CGI) study, has revealed that in the past two years, organisations have been directing efforts to improve corporate governance ratings as part of their strategic priority objectives. These efforts have given reason for the country’s 2.9 CGI score in 2022, a slight
Eskom pursuing Tshwane over R1.4 billion energy debt
Eskom claims the City of Tshwane's (CoT's) electrical debt has risen to R1.4 billion after a string of late and missed payments in recent months. The electricity provider stated that the CoT's debt exacerbates its cash flow issue, since it is owed around R57 billion by non-paying consumers. Tshwane failed to pay its R680 million
The worst-performing power station in Eskom, where workers fear for their lives
According to Eskom CEO Andre de Ruyter, the power provider is implementing a recovery plan to restore as many megawatts as possible to the grid as quickly as possible – but the plan is contingent on everything going well, including fixing difficulties at its worst-performing power plant, Tutuka. De Ruyter told the Standing Committee on
Cape Town has announced funding for its power system
Cape Town Mayor Geordin Hill-Lewis announced the city can now pay cash for power fed into the local power grid. The system would initially be provided to companies before becoming available to Cape Town citizens. Participants will be compensated for selling extra electricity into the Cape Town grid. This comes after the National Treasury excused
Changes are on the way for science, engineering, and technology subjects in South African schools
Blade Nzimande, Minister of Higher Education and Training, says South Africa's universities and Technical Vocational Education and Training (TVET) institutes are prepared for the influx of new students in 2023. Universities are constantly enrolling new students, with the total number of enrolments in the public university sector expected to exceed 1.1 million for the 2023