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Absa CIB banks on digital trade, becoming first African bank to join Contour’s production network
Contour, the leading digital trade finance network, announced that leading Pan-African bank, Absa Corporate and Investment Bank (CIB), is the first African bank to officially join its growing production network. Absa CIB is positioning itself at the forefront of digital developments by being a part of Contour’s digital trade finance network. Many of Africa’s trade
Restaurant Technology Industry Faces Fee Fatigue
During the pandemic most businesses went to a stop while others took the technology route, one being restaurants. Most restaurants went online with people ordering food online using QR (Quick Response) codes. However, most people still prefer old-fashioned menus over QR codes. With most technology taking centre stage during the pandemic brands such as Uber
Businesses Affected by SaaS Subscription Cost Increase
With businesses increasingly reliant on software for day-to-day operations, the cost of Software-as-a-service (SaaS) subscriptions increasing businesses are being badly affected. according to an April report by the IT Asset Management Review, “A significant concern for chief financial officers is the relentless increase in software prices and the impact on businesses.” Over the past year,
Government in South Africa still Target of Cyberattacks
Cybersecurity is still facing ongoing threats with scammers and hackers creating a new way to threaten the security of companies and individuals. Security and risk leaders are still continuing to fight existing threats and coming up with ways to defend against emerging threats. Artificial Intelligence tools, geopolitical uncertainty and increased cloud complexity have created a
Vodacom Plan to get the R10bn Maziv Deal
According to Pieter Uys, a senior executive at Remgro who also serves as chairman of CIVH, the largest shareholder in Maziv, Remgro, CIVH controlling shareholders are preparing ways to tackle the competition authorities to get an R10.2-billion deal with Vodacom across the line. Maziv is a new holding company of both Vumatel and Dark Fibre
Lenovo Infrastructure Group South Africa Discusses its New ThinkSystem Enterprise Storage Array
BusinessTech Africa sat down with Dean Wolson, Country Manager, Lenovo Infrastructure Group South Africa, to talk about the company's new ThinkSystem Enterprise Storage Array and how artificial intelligence is reshaping the technology industry. How does the Lenovo ThinkSystem DG Enterprise Storage Arrays and Lenovo ThinkSystem DM3010H Enterprise Storage Array work and how is it different from
WeWork on The Verge of Bankruptcy
WeWork has been trying to change its profits for the past four years. The New York-based company is currently bleeding cash, with customers of its office rentals cancelling their memberships in droves. In a statement, WeWork said, “Our losses and negative cash flows from operating activities raise substantial doubt about our ability to continue as
DStv Cut Ties With Malawi After Government Rejects Price Hike
MultiChoice Africa and Malawi cut ties after the High Court issued an injunction to MultiChoice Malawi in Lilongwe. The injunction prohibits the pay-television operator, through its subsidiary, MultiChoice Malawi, from implementing price increases for DStv in the Southern African country. In a statement earlier this week, MultiChoice Africa said, “MultiChoice Malawi (MCM) does not offer
Eskom to implement load shedding at varying stages of intensity until Sunday
Eskom announced on Tuesday that due to an improvement in available capacity, load shedding would be suspended during the day (05:00 to 16:00) until Sunday. However, rotational power cuts will continue to be implemented at Stage 3 in the evenings (16:00 to 05:00) until tomorrow. Thereafter, evening load shedding will be reduced to Stage 2
The Central Bank of Kenya MPC kept its policy rate unchanged at 10.5% As they expect a 100bp policy rate hike in October
Ghana: Ghana’s consumer inflation rose for a third consecutive month, coming in at 43.1% y/y in July, up from 42.5% in the preceding month and above our estimated 42.0%. CPI rose by 3.6% m/m in July, a notably faster increase than the 3.2% seen in June. Both food and non-food inflation contributed to the increase although
BankservAfrica Economic Transactions Index loses momentum in July
After a stronger performance in June, the monthly BankservAfrica Economic Transactions Index (BETI) slipped somewhat in July 2023, mirroring the less-than-positive economic indicators that emerged during the month. “The BETI fell to an index level of 133.0 in July compared to the 133.9 recorded in June,” says Shergeran Naidoo, BankservAfrica’s Head of Stakeholder Engagements. “Unlike
Chibuzo Opara of Drugstoc announced winner of the 2023 CEMEA Visa Everywhere Initiative
Chibuzo Opara, Co-founder, and CEO of Drugstoc, an innovative startup that leverages technology, supply chain management, financial solutions, and product knowledge to enhance access to health care in emerging markets, was crowned winner of the Central and Eastern Europe, Middle East, and Africa (CEMEA) edition of the Visa Everywhere Initiative (VEI) – a global open
WhatsApp adds Another Feature: A 32-Person Voice chats
Meta Platforms’ WhatsApp version 2.23.16.19 is working on a beta version that provides a new “voice chat” feature that will allow up to 32 people to participate in a call. “With this feature, WhatsApp plans to offer group participants a new way to initiate voice calls,” said WhatsApp watcher WABetaInfo. The new feature is not dissimilar
What makes women better investors
Over the last decade, a plethora of studies have found that women make better investors than their male counterparts. More recently, an analysis of five million Fidelity accounts over a 10-year period showed that US women’s returns were 0.4% higher than men. This difference is even higher according to a Berkeley study, which showed women’s
Apple And Samsung Plans To Invest in ARM
According to Japan’s Nikkei newspaper reported on Tuesday, Apple and Samsung Electronics are reportedly planning to invest in Arm, the SoftBank-owned chip design company. The British chip designer which specialises in licensing chip designs to companies plays a huge role in the technology industry, allowing the world’s tech giants to manufacture semiconductors in their own
The Perfect Harmony of Creativity and Professionalism: The HUAWEI P60 Pro and HUAWEI MATE X3
In an era where technology intertwines seamlessly with our daily lives, HUAWEI presents two remarkable devices that cater to the diverse needs of modern individuals – the HUAWEI P60 Pro and the HUAWEI Mate X3. These two devices offer distinct lifestyles tailored to both creatives and business professionals, combining innovation, power, and style. The HUAWEI
Motorist Can Expect Huge Increase in Petrol and Diesel Prices in September
South African motorists are in for a huge change when it comes to petrol and diesel prices this coming September. The price news comes after petrol and diesel prices for August 2023 took effect last week. Central Energy Fund (CEF) released its latest numbers and with the global oil price hike and rand weakening it
ChatGPT made $2000 in a month after being given $20000 to invest in stocks and crypto
Artificial Intelligence(AI) has been improving technology, and ChatGPT has been helping people to be able to work efficiently and diligently. Recently NewsBTC conducted an experiment, in which it gave AI tool ChatGPT $20,000 to invest in crypto and stocks. NewsBTC made a profit of $1.946 after following ChatGPT’s advice for a month with crypto investments
Potential Telkom Investors Warned of Pitfalls ahead-Analysts
Telkom might have high-value assets, however, potential investors must be weary of risks associated with attempting to turn its fortunes around, according to analysts. The telecommunication firm is looking to sell off parts of its assets, the news comes after the group faced difficult operating environment, evolving technological advancements and accelerated power outages. Telkom group
Vodacom responds to Competition Commission’s recommendations
In November 2021, Vodacom announced the agreement to acquire a co-controlling interest in all of the material assets owned by Community Investment Ventures Holdings (Pty) Limited (“CIVH”) including Vumatel (Pty) Limited ("Vumatel") and Dark Fibre Africa (Pty) Limited ("DFA”). Upon completion, Vodacom will hold a 30% co-controlling interest in a newly formed entity Maziv Proprietary