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Hon Hai Precision Industry Co. Surges to Record High Strong Monthly Sales
Hon Hai Precision Industry Co., also known as Foxconn, witnessed a significant surge in its shares, reaching a record high following the announcement of its strongest monthly sales growth since the beginning of 2023. The robust performance has sparked optimism regarding potential iPhone and AI server sales. The Taiwanese company, responsible for assembling the majority
Jack Dorsey Departs Bluesky Board
In a surprising turn of events, Jack Dorsey, the co-founder of Twitter, has stepped down from the board of Bluesky, a social networking service he helped fund and popularize just a year ago. This decision comes in the aftermath of Dorsey's remorse over Twitter's sale to Elon Musk and signifies a shift in his focus
Renergen Achieves Milestone in Helium Production Amidst Financial Challenges
Renergen, a South African energy company, has made a ground-breaking announcement today regarding its Virginia Gas Project. In a statement released via the Stock Exchange News Service (SENS), the company revealed its successful production of liquid helium, marking a significant milestone in its operations. Since April 2, 2024, Renergen has been diligently working with its
The Rise of Low-Code and No-Code Platforms
A mere decade or so ago, launching a new e-commerce venture tailored for high transaction volumes and stringent security requirements was a formidable task. Building a scalable website with bespoke functionalities, seamless integrations with enterprise systems, and a unique aesthetic demanded substantial financial investments, often running into millions of rand. Fast forward to today, and
Penquin Unveils Strategic Appointments and Promotions
Johannesburg-based brand and communications powerhouse, Penquin, has announced a series of groundbreaking promotions and new appointments that amplify the agency's creative prowess and operational excellence to unprecedented levels. At the forefront of these exciting developments stands Nicole Fourie, who joins Penquin's executive team as Operations Director. With a wealth of experience and strategic acumen under
Empowering Female Entrepreneurs: Celebrating 30 Female-Student-Founded Start-ups
The I’M IN Entrepreneurial Programme, in collaboration with Telkom’s Enterprise and Supplier Development unit, Telkom FutureMakers, JP Morgan, and the Embassy of Ireland, celebrated a significant milestone – the graduation of 30 start-ups founded by female students. Held in Rosebank, Johannesburg, this event marks not only the culmination of their journey but also signals a
2024 NBA Africa Triple Double Accelerator Program Opens Applications
Applications have officially opened for the 2024 NBA Africa Triple Double Accelerator Program, a flagship initiative aimed at supporting African startups and entrepreneurs in the sports and creative industries. The program, spearheaded by NBA Africa, offers mentorship and capital to accelerate the growth of startups while fostering innovation and economic development across the continent. Program
GoSolr Plans R10 Billion Investment in Solar Panel Rentals to Tackle South Africa's Energy Crisis
GoSolr, a company backed by South African billionaire Patrice Motsepe and Standard Bank, is gearing up to invest R10 billion in a groundbreaking initiative to rent solar panels and batteries to homes across the nation, offering a solution to the persistent issue of blackouts. Andrew Middleton, the CEO of GoSolr, revealed that the two-and-a-half-year-old company
South African Investors Urged to Focus on Local Assets Over Offshore Holdings
Momentum Investments economist, Sanisha Packirisamy, advocates for South African investors to prioritize local asset classes over offshore investments this year. She points to more attractive valuations and the potential for rand appreciation as compelling reasons for this shift. According to Packirisamy, the valuation metrics of the local equity market have reset to consistently lower levels
Universal Music Group and TikTok Resolve Dispute, Artists' Songs to Return
Universal Music Group NV and TikTok have struck a deal that will see the return of songs from the label's artists to the social media platform, ending a prolonged standoff that led to the removal of performers like Drake and Rihanna from the network. In a joint statement released on Thursday, the companies announced that
Global Citizen NOW Conference Advocates for Long-Term Investments in Africa's Youth
The recent Global Citizen NOW conference illuminated the imperative of making sustained investments in Africa's burgeoning youth population while rallying support for young change-makers worldwide. Focusing on mobilizing resources to combat poverty, the conference underscored the pivotal role of political, business, and philanthropic leaders in bolstering education and healthcare in the world's least-developed regions. Global
South Africa Delays Launch of New Driving Licence Cards
South Africa's eagerly anticipated new driving licence cards have yet to make their debut by the end of April 2024, contrary to assurances made by Transport Minister Sindisiwe Chikunga. Speaking during a press briefing on the shutdown of e-tolls in Gauteng on April 10, 2024, Minister Chikunga revealed that her department was in the final
Hyundai Invests Nearly $1 Billion in Self-Driving Startup Motional
Hyundai is set to inject close to $1 billion into Motional, a significant investment that will grant the automaker a majority stake in the self-driving startup while bolstering Motional's financial footing. The Korean automaker has committed $475 million directly into Motional as part of a comprehensive agreement that also involves acquiring joint venture partner Aptiv.
Nigeria's Central Bank Tightens Grip on Fintech companies
The Central Bank of Nigeria (CBN) has reportedly issued directives to leading fintech firms, including Moniepoint, OPay, Kuda Bank, and Palmpay, instructing them to suspend new account openings. This move follows the recent freezing of 1,146 bank accounts allegedly involved in unauthorized forex transactions, marking a concerted effort to curb illicit financial activities. As of
Nelson Mandela University empowers Students with Coding and Robotics Education
In South Africa, the drive to foster interest in Science, Technology, Engineering, and Mathematics (STEM) fields among young learners has led to the development of innovative platforms aimed at igniting curiosity and inspiring future careers in the STEM sector. One such platform is the initiative for launching careers in Science and Technology, which serves as
Microsoft Bolsters Security Measures with New Appointments Due to Cyberattack Concerns
In an effort to fix the mounting concerns over cybersecurity vulnerabilities, Microsoft Corp. has announced plans to fortify its product groups by appointing security chiefs. This strategic move aims to enhance resilience against hacking incidents following criticism levelled against the company for its handling of several serious cyberattacks. Microsoft revealed that it will be integrating
Google Urges Judge to Reject Epic Games' Proposed Changes to Play Store
In the ongoing antitrust showdown between Google and Fortnite maker Epic Games, the tech giant has vehemently opposed sweeping changes proposed by Epic Games for its Play store. Google filed its response late on Thursday in San Francisco federal court, contesting Epic's bid to overhaul app downloads and payment policies on Android devices. Last year,
City of Cape Town Awards Tender for First Solar Plant to Combat Load-Shedding
The City of Cape Town has taken a significant step towards energy sustainability with the awarding of a tender for its inaugural solar plant, the Atlantis Solar Photovoltaic Plant. Scheduled to begin construction in August, this landmark project marks a pivotal moment in the city's efforts to combat load-shedding and reduce carbon emissions from municipal
Nodle and Watu Revolutionize Motorcycle Taxi Tracking in East Africa with Blockchain Technology
Boda bodas, the ubiquitous motorbike taxis of East Africa, are not just a mode of transportation but a lifeline for many in bustling cities like Nairobi, Kampala, and Dar es Salaam. Now, this vital industry is on the verge of transformation with the integration of blockchain technology for real-time tracking, funded by Watu, an asset
Apple's Quarterly Results Exceed Expectations with Record Stock Buyback Program
Apple Inc. stunned investors on Thursday as it surpassed modest expectations with its quarterly results and outlook, revealing a record share buyback program. The announcement propelled its stock by 6% in extended trading, showcasing the company's resilience despite challenges in the global smartphone market. The tech giant unveiled plans to increase its cash dividend by