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The Reserve Bank is testing a new payment system in South Africa that will be launched this year
In South Africa, BankservAfrica is now developing a new rapid payments programme (RPP) infrastructure. The new method is part of the South African Reserve Bank's (SARB) Vision 2025, which aims to simplify and make real-time payments more economical and efficient – even for individuals who do not have a bank account. To summarise, it will
Even Elon Musk will not be able to revive Eskom, but private power will save South Africa
Even Tesla CEO Elon Musk couldn't save South Africa's struggling power grid and end load shedding. According to Michael Jordaan, former FNB CEO and founder of venture capital firm Montegray Capital. Jordaan was recently interviewed for PSG's Think Big series, where he was asked for his thoughts on how to solve Eskom's challenges. Jordaan stated
Microsoft earnings are high despite a drop in Windows and Xbox sales
Microsoft Corp.'s second-quarter profit above analysts' expectations, aided by growth in its Azure cloud-services division despite a drop in demand for personal-computer and corporate software. In late trade, shares gained more than 4%. In the fiscal year ended December 31, adjusted earnings per share was $2.32, while total revenues increased 2% to $52.7 billion, according
South African average wage versus iPhone pricing
Purchasing the newest iPhone when it was released in South Africa in 2022 would have cost more than 80% of the average employee's monthly pay. Former Apple CEO Steve Jobs launched the original iPhone in 2007, which boasted a breakthrough smartphone design that has remained the norm to this day. While it was not the
Afriforum is launching its own power firm, with nuclear aspirations in the works
Afriforum, a civil rights organisation, is developing its own power generation firm, with ambitions to build South Africa's first Pebble Bed Modular Reactor (PBMR). Kallie Kriel, the organization's CEO, recently discussed these goals with Sunday newspaper Rapport and online Afrikaans outlet Maroela Media. Kriel stated that Afriforum was already in contact with numerous energy sector
WhatsApp is working on big image quality improvements
According to WABetaInfo, WhatsApp is working on allowing users to exchange original-quality photographs without using image compression. The functionality is included but not operational in WhatsApp Beta for Android 2.23.2.11. When it comes to image quality sent via WhatsApp, users may now pick "automatic," "best quality," and "data saver" from the platform's settings. Even the
DStv and Openview have introduced "anti-load-shedding" channels
South African broadcasters DStv and Openview have announced the launch of "anti-load-shedding" channels that will allow users to catch up on programming missed during a power outage. The channels — DStv's SWITCH'D ON and Openview's Power-UP! — will loop chosen shows, providing viewers with additional opportunities to see primetime programming. SWITCH'D ON will be accessible
Prepaid electricity in South Africa is changing a lot
This year, the cities of Johannesburg and Tshwane will undertake campaigns to upgrade prepaid power metres in the metros. By November 24th, 2024, the country's present prepaid power voucher system will run out of voucher sequences for the unique tokens issued uniquely for each metre. The present Standard Transfer Specification (STS) system, which has been
As South Africans demand answers, Ramaphosa convenes a special meeting on load shedding
President Cyril Ramaphosa will convene a special meeting of the President's Coordinating Council (PCC) on Friday to address South Africa's ongoing energy crisis. Since the beginning of the year, the country has been subjected to nonstop load shedding, with rolling blackouts reaching level 6 for over a week. Load shedding is currently alternating between stages
DStv's approach to competing with Netflix and Disney+
MultiChoice CEO Calvo Mawela stated that the company is marketing itself as the "home of local and sport" as a difference in the streaming industry. Mawela spoke with Fifi Peters of CNBC Africa during the World Economic Forum's annual gathering in Davos. Streaming services such as Netflix, Disney+, and Apple TV+ are increasing their competition
Microsoft and Meta support Google in the event that it could change the Internet
In a flurry of court arguments filed Thursday in a Supreme Court lawsuit that may radically change the way the Internet operates, Meta Platforms Inc., Microsoft Corp., Twitter Inc., and other internet giants flocked to Google's defence. The internet industry is encouraging the Supreme Court to tread lightly in Gonzalez v. Google, a case centred
Twitter is being sued by unpaid specialists recruited for the legal battle against Elon Musk
Twitter Inc. has been sued by a consulting business that claims it is owed around $2 million for services related to its lawsuit to compel Elon Musk to finish his takeover of the social media platform. Charles River Associates filed a lawsuit against Twitter in state court in Boston on Thursday. The firm stated that
Netflix co-founder resigns as CEO
Reed Hastings, co-founder of Netflix Inc., is stepping down as CEO of the firm he has headed for more than two decades, handing the post to his two close allies, Ted Sarandos and Greg Peters. Sarandos, who was previously co-CEO, is the company's public face in Hollywood, while Peters, who was formerly chief operating officer,
From View Counts to Verification Here’s Every Twitter Change Under Elon Musk
Since Elon Musk purchased Twitter in October, the social media network has made several changes to the user experience, including a revamp of the authentication process and a focus on "free speech." Elon Musk has made a number of modifications to Twitter since his widely publicised — and contentious — acquisition of the network in
How much does it cost to send a child to private school vs public school in South Africa?
Many South Africans are struggling to prioritise saving for their child's education in the face of escalating school costs, a worsening cost-of-living issue, and many years of recession and pandemic-related instability. Given these challenges, many parents in 2023 are contemplating alternatives to traditional schooling, such as the rapidly expanding possibilities of online and homeschooling. This
Pay cutbacks at the Post Office, while the CEO gets R4 million – it's past time to make tough decisions
The South African Post Office has said that it is overstaffed and that personnel expenditures must be reduced in order to avoid forced retrenchments. It responded in a statement to charges made by the DA's Dianne Kohler Barnard on Wednesday that the Post Office intends to effectively slash worker pay by 40% while CEO Nomkhita
Reserve Bank is experimenting with 'digital rand' in South Africa
The South African Reserve Bank (SARB) says it is still studying and testing a central bank digital currency (CBDC), but it is focusing on a specific use case and is not looking to be a world leader in the format. Speaking on a panel at the annual World Economic Forum (WEF) meeting in Davos, Switzerland
Genesis, a cryptocurrency firm, is preparing to file for bankruptcy
According to persons familiar with the situation, Genesis Global Capital is preparing to file for bankruptcy as soon as this week. In the midst of a liquidity crisis, Digital Currency Group's bitcoin lending subsidiary has been in discreet discussions with numerous creditor parties. Bloomberg previously reported that it has warned that if it is unable
Microsoft laying off 10,000 employees, will cost R20 billion
Microsoft Corp. announced plans to reduce 10,000 employees, or approximately 5% of its staff, in order to deal with an increasingly grim future that has left many of the technology industry's top brands battered. According to a corporate filing, the business will incur a $1.2 billion (R20 billion) charge in the second fiscal quarter due
Businesses in South Africa will benefit from load shedding alleviation
The Department of Small Business Development is collaborating with partners to develop an energy relief package for Small, Medium, and Micro Enterprises (SMMEs) in order to mitigate the destructive impact of load shedding on small enterprises. SMMEs are especially heavily effected by ongoing power outages since many cannot afford alternate power sources such as generators.