Browse every article
10,682 articles
Legacy Africa Capital Partners announces a R100m investment in Welltec
Legacy Africa Capital Partners’ (LACP) Fund 1 have announced a significant investment for a minority stake in Welltec, a leading Financial Wellness Technology (FinWellTech) firm. This investment strengthens Welltec's position in the market, allowing them to expand their bespoke financial wellness programs targeted at financial and fintech organisations. This investment arrives at a pivotal moment,
Telcos can help Africa dial up the start-up ecosystem
These are exciting times to be an entrepreneur in Africa. Increasing connectivity and the growing popularity of digital payments are unlocking opportunities to access a young, tech-savvy population that will double in size in the next 30 years or so. In fact, African markets are expected to record double-digit annual growth in digital industries over
BCX DIA Winners Unveiled in a Thrilling Showcase of Innovation!
The heart of Parktown pulsated with excitement as BCX, a leader in the ICT industry, unveiled the champions of the BCX Digital Innovation Awards 2023, this week at the prestigious Sunday Times Top 100 event. Captains of industry gathered to witness the ground-breaking innovation displayed by some of South Africa’s most imaginative enterprises, SMEs, and
127 new electric car charging stations coming to South Africa
Mercedes-Benz South Africa (MBSA) is currently to working together with Tibco’s Chargify in an effort to roll out 127 new electric vehicle (EV) charging stations in South Africa. At a total cost of R40 million, the new sites will be consisting of a mix of AC and DC chargers, which will be rolled out in
Is your WiFi secure? Here’s why it needs to be
By Craig Blignaut, Product Manager: WiFi at Vox We all know that public WiFi networks are less secure because you have no idea who else is using them or who set them up. But how secure is your home WiFi network? Have you taken the time to check that the necessary security protocols are in
Interest Rate Developments expected next week
The South African Reserve Bank (SARB) is poised to emulate the approach of the US Federal Reserve by maintaining current interest rates during its upcoming meeting. Scheduled for next Thursday, 23 November, the SARB's Monetary Policy Committee (MPC) will deliberate on interest rates, with the prevailing repo rate standing at 8.25%. Against a backdrop of
Standard Chartered Bank fined R43 million for rand manipulation
South Africa's competition regulator has reached a settlement with Standard Chartered Bank over allegations it colluded to manipulate the rand currency. The Competition Commission said Standard Chartered admitted liability and agreed to pay a fine of around R43 million ($2.3 million) to resolve the case. Standard Chartered is one of 28 banks accused of coordinating
Private security officers outnumber South Africa’s police force by 4-1
In 2022, the Private Security Industry Regulatory Authority (PSIRA) reported a staggering figure of almost 2.7 million registered security guards in South Africa, dwarfing the 140,048 personnel on the South African Police Service's (SAPS) roster. This surge in private security personnel is not surprising given the country's high crime rate, coupled with a declining appeal
Continued growth of Africa’s FinTechs can unlock greater economic prosperity
Africa is one of the fastest growing FinTech markets with revenue forecasted to grow 13 fold to $65-billion by 2030. In addition to the revenue opportunity, FinTechs play an important role in developing the region’s economy and improving the lives of African people by revolutionising the financial sector. New FinTech platforms have played a critical
Montego’s R33 Million Leap into Solar Energy
Solar power was first suggested by Edmond Becquerel way back in 1839. Now, almost 200 years later, it’s becoming one of the most widely used energy sources on the planet. Renewable energy, mostly from solar and wind, looks set to constitute around half of the world’s total energy supply by 2023, and in SA the
Teraco expanding data centre in Cape Town
The company that is part-owned by Digital Realty (NYSE: DLR), Teraco has made an announcement that it will be having a 30 megawatt (MW) expansion of its CT2 hyperscale data centre facility in Brackenfell, Cape Town. Teraco is looking to conclude the expansion project by early 2025, incorporating the latest environmentally sustainable cooling and water
ExxonMobil moving into lithium for Evs
The Houston, Texas based natural gas giant, ExxonMobil has revealed that it is planning on becoming one of the biggest suppliers of lithium for electric vehicles, marking this as the company’s first major foray outside of fossil fuels in decades. The plan is for Exxon to extract the metal from underground saltwater reservoirs in the
Revolutionising Africa’s smallholder farming communities through technology
Jehiel Oliver, founder and CEO of Hello Tractor, recently discussed the convergence of African traditions, technology, and agriculture. Addressing the continent’s potential as well as its challenges, Oliver presents a refreshing vision for the future of farming. Technology is becoming pivotal in Africa's agricultural domain, with smallholder farming systems needing a tech-driven approach for optimisation.
Navigating the Economic Landscape of Sub-Saharan Africa
Long before the 'Africa Rising' narrative gained traction, the region grappled with a severe debt crisis, as exemplified in 1982 when virtually every African nation faced unsustainable debt burdens. By 1987, Africa's total debt skyrocketed to $174 billion from just $8 billion in 1970. China's lending provided some relief, but Africa's debt mountain remains high
Wealthy Banking Tycoon Pours Billions into Ground-breaking University Venture in Nigeria
Nigerian banking mogul Herbert Wigwe is investing $500 million in a new university aimed at building skills for finance and technology in Nigeria. Wigwe, co-founder and CEO of Access Holdings, plans to open Wigwe University next year offering undergraduate programs in management, science, engineering, IT and creative arts. He envisions needing up to $500 million
OpenAI's Chief Pursues Additional Microsoft Funding for Advancing 'Superintelligence' Initiatives
OpenAI CEO Sam Altman is reportedly seeking additional financial backing from Microsoft as he looks to advance development of advanced AI capabilities. Altman secured a $10 billion deal between OpenAI and Microsoft earlier this year, building on an initial $1 billion investment in 2019. However, the 38-year-old is pursuing even more funding to further commercialization
Building an intelligent Africa that is future-oriented
Deputy Minister of Communications and Digital Technologies, Philly Mapulane, conveyed to participants at the Ministerial Forum within the Africa Tech Festival that significant opportunities are on the horizon for investors in the digital realm. The forum is dedicated to fostering a forward-looking, intelligent digital infrastructure in Africa. Mapulane emphasized that the government is not merely
Mitigating IoT Hurdles Can Unlock Billions for SA
With an anticipated annual growth rate of 13.28%, the South African IoT (Internet of Things) market is poised to achieve an impressive US$11.32 billion by 2028. This surge is primarily attributed to the commercial, mining, agriculture, and manufacturing sectors, which are actively adopting intelligent solutions for water and energy management. Dr. Andrew Dickson, Engineering Executive
Coega successes the foundation for Gqeberha’s revival – Moore
Multibillion-rand investments in the Coega Special Economic Zone are laying the foundation for Gqeberha to realise its true potential as a city. That is the view of veteran Remax estate agent Alan Moore, who believes the SEZ’s successes should not be seen in isolation but as a catalyst for change in Nelson Mandela Bay. Coega
DSG to Showcase Creating Africa's Mobile Future at AfricaCom 2023
Gear up for AfricaCom 2023, the continent's premier telecoms, media, and technology event happening in Cape Town from November 14 to 16, 2023. Join the throngs of technology enthusiasts exploring the latest innovations, products, and expertise in the mobile industry, featuring the dynamic presence of Digital Solutions Group (DSG). DSG, a steadfast supporter of AfricaCom,