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Vehicle owners in South Africa must install trackers or risk losing their insurance
Drivers of high-risk cars in Gauteng, KwaZulu-Natal, and smaller interior provinces, according to Old Mutual Insure, must install vehicle monitoring devices or risk losing insurance coverage. This is a response to an increase in the number of insurance claims for specific vehicle models as a result of theft and hijacking. The business and its subsidiaries
Eskom granted exemption to exceed emission limits at Kusile
South Africa's power utility, Eskom has been granted permission by Forestry, Fisheries, and Environment Minister Barbara Creecy to exceed sulphur dioxide emission limits at the Kusile power station. The move is aimed at reducing the country's exposure to load shedding, a situation that has had significant socio-economic impacts on all South Africans. Load shedding occurs
Gravel riding meets MTB style: canyon's Grizl CF SL 7 throwback
Canyon's latest Grizl gravel bike pays homage to the pioneers of mountain biking by combining the iconic 90s MTB looks with a modern gravel bike design. The Grizl CF SL 7 Throwback is a tribute to all that was great and good during mountain biking's pioneering decade, which saw the rise of rigid forks, outrageous
Massmart launches solar power loans through its stores
Massmart, the parent company of Makro and Game, has partnered with credit provider Retail Credit Solutions (RCS) to offer customers a solar energy funding solution. This initiative provides a loan of up to R250,000, which can be released within 24 hours through a convenient application process. The loan will be available in flexible payment plans,
BETI echoes economic activity slowdown in February
Persisting pressures in the economy hurt businesses and consumers After two months of optimistic development, the BankservAfrica Economic Transactions Index (BETI) decreased in February 2023, indicating that the country's economic activity was declining. “At an index level of 131, the BETI for February slipped to October’s level and declined by 1.3% on a monthly basis,
Mozambique announces visa exemption for 28 countries
One of the Southern African nations, Mozambique, announced visa exemption for 28 countries mainly for tourism and business visits as the Council of Ministers approved the decree. The exemption applies to visitors holding ordinary passports and allows for a 30-day stay and it is renewable for an additional 60 days. BusinessTech Africa understands that the
Elon Musk’s cousin drives Tesla from Cape Town to Jozi for 14kms
American businessman Elon Musk’s second cousin, Hilton, recently test-drove the Tesla Model X from Cape Town to Johannesburg where he made stops in various locations to charge his battery. Hilton drove for more than 1400 kilometres to reach his destination and said he stopped about seven times to recharge his electric car. The drive comes
Tech giant Apple introduces ‘shop with a specialist over video’
American phone and computer maker Apple has unveiled what it calls shop with a “Shop with a Specialist over Video” in the United States. The new way of shopping allows shoppers to browse for iPhones online with the help of an employee over a one-way video call. The technology company announced that its staff will
Capitec Bank CEO Gerrie Fourie promises they’ll keep things simple
After 21 years of existence, Capitec Bank has surpassed big players such as First National Bank and Standard Bank. The Western Cape-based banking institution has reached the 20 million customer milestone and that is regarded by CEO Gerrie Fourie as massive. Capitec’s record when it comes to the number of customers beats its 185-year-old rival
Santam buys MTN SA’s mobile telecoms device insurance book
Short-term insurance company Santam has sealed an agreement to buy MTN SA’s insurance book. The deal comes as MTN’s device boasts over 400 000 policies and an annual income of written premium valued at almost R400 million. Dubbed Africa's largest short-term insurer, Santam’s proposal was approved by the Competition Commission in March without conditions, it said
FlySafair announces flights to popular African island Zanzibar
South African low-cost airline operator FlySafair has announced a new route to Zanzibar as it will depart from OR Tambo International Airport. The popular low-cost airline says it has added a new route to its regional roster and the flight will depart from ORTIA to Abeid Amani Karume International Airport in Zanzibar. FlySafair said it
Motorists can expect diesel price drop & petrol hike in April
South Africans can expect petrol price hikes in April and that is the word doing the rounds in the media space. BusinessTech Africa has discovered that a price hike awaits motorists next month, but the price of diesel is expected to drop. According to mid-month data from the Central Energy Fund (CEF), the prices of
Analytico unveils three fastest mobile data speeds in SA
According to the latest research conducted by Analytico, it reveals that top mobile speed tests in South Africa are approaching gigabit speeds. The research company’s findings unveiled the three fastest tests done on each mobile network in South Africa using both Android and iOS devices. Vodacom South Africa claimed the victory on both platforms, with
FNB in a quest to skill youth in technology and data analytics
First National Bank has announced that it will provide 250 youth with work experience in fields such as information technology, commerce, data and analytics, and engineering in its annual graduate programme. One of South Africa’s major banking institutions, FNB released a statement, saying youth employment and skills development continue to be big challenges in South
S&P Global Ratings puts Eskom’s debt assessment on a positive
Eskom has been boosted following the news that S&P Global Ratings has put the power utility's debt assessment on positive watch. This means the ratings agency may upgrade South Africa’s state-owned power utility despite ongoing power cuts in South Africa. News24 Business reports that the move follows the announcement last month that the embattled power
Power cuts hit MTN towers compared to 'poor' Nigeria
MTN is one of the worst-hit mobile telephone companies as the growing number of power cuts continue to cause devastation. The power cuts have caused MTN’s network availability in South Africa to drop below levels in Nigeria, a country where electricity from the national grid is virtually non-existent. Several mobile operators have seriously struggled as
Old Mutual targets share buyback of up to R1,5 billion
Life assurance and financial services group Old Mutual has upped its annual dividend and also announced aims of a share buyback of up to R1,5 billion. In its annual results for the year ended December 31, 2022, the Cape Town-headquartered company said it had earmarked between R1bn and R1.5bn for return to shareholders as a
Microsoft reaches agreement with gaming company Boosteroid
Computer software company Microsoft signed a 10-year licensing deal on Tuesday with an aim to bring Activision's Call of Duty franchise to cloud gaming provider Boosteroid's platform. This is a move partly aimed at allaying competition concerns over its Activision acquisition per a report by Reuters. BusinessTech Africa understands that the Activision bid announced in
Kropz secures R285m funding from African Rainbow Capital
Emerging African phosphate miner Kropz has secured R285-million in bridge loan facilities from the African Rainbow Capital (ARC) Fund. The finance is meant to fund the immediate and additional near-term requirements as it progresses commercial sales. Kropz is a phosphate producer and developer located in South Africa, it reported that it sold a further 20
Continuing power crisis hampers growth in agriculture
There are mixed fortunes in various sectors of the South African economy and growth in the agriculture industry is subdued in the first quarter of the year. This is caused by a potential recovery later in the year, Agricultural Business Chamber(Agbiz) chief economist Wandile Sihlobo said. “The available soft insights suggest that near-term growth prospects