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Deepfakes are a problem. Are identity platforms the solution?
In early January, an employee at an undisclosed Asian bank sat on a video conference call with senior managers of their company, including the CFO. During the call, they were instructed to move $25 million to various accounts. It was a scam—the employee was never in contact with their bosses but got fooled by a
d.light, Chapel Hill Denham reveals it has $7.4m fund for off-grid solar expansion in Nigeria
The global provider of transformative household products and affordable finance for low-income households, d.light has announced the successful closure of a significant $7.4 million (N10 billion) securitized financing facility. This development, in collaboration with Chapel Hill Denham, Nigeria's largest alternative asset manager, is meant to support the expansion of d.light's low-cost Pay-Go offering of affordable,
EOH selects new CFO and interim CEO
The EOH board has named Andrew Mthembu, the current chairman, as the interim CEO of the company. Mthembu, who previously served as a non-executive chair, will take on the role of executive chairman starting April 1, 2024. Once a new CEO is appointed, Mthembu will move back to his position as an independent non-executive chairman.
South Africa's Budget 2024: Godongwana teetering on the highwire
The 2024 Budget speech presented by Finance Minister Enoch Godongwana paints a picture of cautious optimism amidst lingering challenges. While acknowledging the calls for fiscal discipline, the budget demonstrates a commitment to both stabilising the debt burden and addressing critical social needs. Joon Chong, partner at Webber Wentzel outlines the key takeaways with a forward-looking
LENOVO GROUP: THIRD QUARTER RESULTS 2023/24
Lenovo Group Limited together with its subsidiaries (‘the Group’), today announced third quarter results reporting Group revenue increasing 3% year-on-year to US$15.7 billion, and Group profitability improving quarter-to-quarter for the second time in a row. Net income was US$357 million on a non-Hong Kong Financial Reporting Standards (non-HKFRS)[1] basis, with net income margin up 0.4% quarter-to-quarter to 2.3%.
SME resilience required after tough budget
In delivering the 2024 National Budget, Finance Minister Enoch Godongwana reminded South Africans that it would be easy to indulge in extremes of either blind optimism or crippling pessimism, when it’s best to resist both. He urged South Africans to heed the words of former President Nelson Mandela “who more than most saw that the
5 Ways AI can drive better retail networking in South Africa
With Artificial Intelligence (AI) innovations dominating the news, you’ve likely already heard how AI for IT Operations (AIOps) is set to revolutionise almost everything. Like many other local business leaders, you probably have high expectations of the benefits AI will bring to your IT department. Indeed, almost 50% of South African organisations say this is
Intel has secured Microsoft as a customer for its foundry services
Intel has revealed that it has plans to collaborate with Microsoft for the production of a custom computing chip, aiming to outpace its major competitor, Taiwan's TSMC, in advanced chip manufacturing. The announcement was made at Intel Foundry's inaugural technology conference in San Jose, California. The company wants to reclaim the title of producing the
Showmax tops Netflix as Africa’s biggest streaming platform with 39% share
Showmax, the subscription video-on-demand (SVOD) service, has surpassed Netflix to become Africa's leading streaming platform, according to a report by Omdia Research. As of November last year, Showmax secured a 39% market share in Africa, surpassing Netflix's 33.5%. Showmax, owned by Multichoice, boasts 2.1 million subscribers compared to Netflix's 1.8 million. The shift in dominance
Kyndryl and Veeam Announce Global Strategic Alliance
Kyndryl, the world’s largest technology infrastructure services provider, and Veeam Software, the #1 leader by market share in Data Replication and Protection Software, have announced a global strategic alliance focused on providing customers with resiliency services supported by innovative technology, expert infrastructure management and incident recovery services. Under the alliance, Kyndryl will now be a
Why humans should consider granting rights to robot
Over the past few decades, science fiction-inspired technologies have undergone significant advancements. The humanoid robots of today are highly dexterous, artificially intelligent, and more relevant to our lives than ever before. While robots are generally treated as tools or machines created and controlled by humans for specific tasks, our dependance on them is expected to
HONOR Unveils Eye-Tracking Feature for Automotive Control
Global technology brand HONOR today announced a revolutionary advancement in automotive control through its latest AI-powered eye-tracking feature. Demonstrating the potential to steer a car using only eye movements, HONOR showcased a groundbreaking experiment conducted by automotive engineers utilizing the eye-tracking capability integrated into the HONOR Magic6 Pro. In a compelling video, the brand showed
Paint the energy efficiency numbers
The largest single cool-surface project ever in sub-Saharan Africa is currently being rolled out on military bases in South Africa’s Limpopo province. Not only is it making personnel’s working environments more thermally comfortable, but the data that is being gathered will be used to advise policy in the country. The scale of this project is
Nigerian FG installs e-gates at international airports to check harassment by immigration officers
The Nigerian Federal Government has initiated the installation of E-Gates facilities at the Nnamdi Azikiwe International Airport in Abuja, according to a post by Nigeria's Minister of Interior, Olubunmi Tunji-Ojo. The E-Gates, currently being set up at the airport, aim to reduce human contact and provide a seamless entry experience for Nigerians. The Minister expressed
How retailers can weather South Africa's economic storm as growth forecasted at only 1%
With the International Monetary Fund forecasting that South African GDP will grow only 1% this year against a backdrop of load shedding and logistics disruptions, retailers will need to focus on diversification into new sectors as well as expanding market share at the expense of their competitors, if they are to grow and thrive. That’s according to
Xalts, fintech company in Singapore, acquires digital trade platform Contour Network
In a notable role reversal, Singapore-based fintech startup Xalts, established just 18 months ago, has successfully acquired Contour Network, a digital trade platform initially formed by a consortium of eight major banks, including HSBC, Standard Chartered, and BNP. While the specific terms of the deal remain undisclosed, the acquisition's price is reported to be in
Mapping out a blueprint for success when it comes to building your ecommerce business
It is no longer a question of “if” but “when” South Africa’s ecommerce market will catch up to the rest of the world. Such has been the boom in digital sales since Covid-19 that even the most conservative estimates suggest 2030 will be the year that there is no longer a discrepancy between the country’s
Meet the HONOR X7b: Impressive from All Angles
In February, HONOR announced the official availability of the HONOR X7b in South Africa. Featuring a large 256GB storage, long-lasting 6,000mAh battery, 108MP Superior Main Camera, and an Ultra-Bright Display, the HONOR X7b is the perfect statement for today’s movers and shakers. With its well-rounded features and affordability, the new HONOR X Series smartphone offers
Debt, Diesel, and Digitisation: What might the 2024 Budget Speech deliver?
Finance Minister Enoch Godongwana's budget speeches garner enormous attention, as his choices impact the average South African individual and business more than most other events. What can we anticipate from the 2024 Budget Speech? Debt remains the leading concern. State debt has been rising consistently for over a decade, then ramped up considerably in 2020,
Absa and Cars.co.za join forces to deliver South Africa’s premier automotive industry awards
Absa and Cars.co.za have partnered to take South Africa’s most authoritative automotive industry awards, the Cars.co.za Consumer Awards, into the future. The partnership, which will bring with it an entirely new level of engagement between buyers, dealers and original equipment manufacturers (OEMs), is aligned with Absa’s strategic objective of being the bank of choice to the automotive industry and consumers at