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Unpredictable global trade reveals the benefits of AfCFTA and intra-African trade as South Africa celebrates first AfCFTA export to Ghana
Amidst disruptions to traditional trade routes, unpredictable shipping times and soaring freight tariffs caused by the conflict in the Red Sea region, the opportunities the African Continental Free Trade Area (AfCFTA) agreement creates for the development of intra-Africa trade are becoming apparent, says Standard Bank. The African continent holds markets that connect 1.3 billion people
Choosing the right cybersecurity partner in the supply chain sector
Finding the right cybersecurity specialist ranks among a logistics firm’s most important tasks. With South Africa now among the world’s biggest cybercrime hotspots, these companies are scrambling to guard against new and highly sophisticated attacks. The ransomware breach of Transnet in 2021 exposed just how damaging cybercrime can be to local supply chains and the
Vodacom Group enhances employee offerings to endorse inclusivity and promote well-being
Vodacom Group, recently ranked by the Top Employers Institute as the continent’s number one employer, has now enhanced some of its employee offerings as part of its commitment to creating an inclusive work environment across its markets. With an emphasis on Compassion, Acceptance, Respect and Empathy (C.A.R.E.), the company’s enhanced wellness initiatives include support for
Sony lays off 900 gaming employees
Sony Group Corp. is set to cut 900 positions, approximately 8% of its global workforce, within its video game division. This move includes the closure of a group in London and will affect subsidiaries such as Insomniac (Spider-Man), Naughty Dog (The Last of Us), and Guerrilla Games (Horizon). Guerrilla Games is expected to reduce its
Woolies online sales grow tremendously, yet, still weaker than Sixty60
South African retailer Woolworths experienced a notable surge in online sales during the first half of the 2024 financial year. In the 26 weeks ending on December 24, 2024, online sales in the fashion, beauty, and home categories increased by 26.9%, contributing 5.4% to South African sales. The company’s online food sales also witnessed a
Zambia trying to close a deal on unresolved debt
Zambia is still wrestling with nearly $7 billion in unresolved debt, despite a previous deal with bilateral lenders that addressed over $6 billion. This remaining amount is owed to bondholders and commercial banks. The country's attempts to secure debt relief faced a setback when an October 2022 deal to restructure approximately $3 billion of debt
MTN's Mobile Money Platform to Integrate Mastercard Services
Mastercard and MTN Group Fintech have entered into a partnership agreement to provide all MTN MoMo (Mobile Money) customers with payment cards. As part of this collaboration, a virtual and physical Mastercard companion card will be integrated into every MoMo wallet, granting users access to over 100 million acceptance locations globally. This initiative follows the
Gates Foundation set to fund African scientists in the malaria and TB fight
African scientists have managed to secure a significant boost in their efforts to combat malaria and tuberculosis, with a $7.2-million grant from medical research charity LifeArc and the Bill & Melinda Gates Foundation. More than half of this funding is set to be allocated to discovering new treatments for these infectious diseases, according to statements
The Kenyan start-up, Kuza Freezer, turns plastic waste into solar-powered freezers
In Kenya, a company is exemplifying the saying "one person's waste is another person's treasure" by transforming plastic waste collected from a Mombasa beach into innovative freezers. Kuza Freezer, a youth-led company operating in Mombasa, repurposes plastic waste by breaking it down into pellets and moulding it into cold storage units. These eco-friendly freezers, equipped
uLesson cuts subscription prices by 50% to help Nigerians cushion against economic hardship
Sim Shagaya, the Founder and CEO of uLesson, which is a popular digital learning platform, has announced a significant 50% reduction in subscription prices on its app, according to Technext. Shagaya shared this news via a tweet on his profile, emphasizing the move as a means to support Nigerian households facing economic challenges under the
Apple to discontinue electric car project after 10 years, to direct resources to AI
Apple, the company behind iconic products like the iPhone and MacBook, is reportedly discontinuing its electric car project, known as the Special Projects Group, after a decade of development. The decision to wind down the autonomous electric car initiative was communicated to the team by Apple's Chief Operating Officer, Jeff Williams, and Kevin Lynch, the
Google denies Gmail is shutting down after viral hoax
Google has quashed rumours circulating on social media that Gmail is shutting down, and has clarified that the widely shared information is a hoax. A viral post falsely claimed that Gmail would cease operations in August, amassing over seven million views. Google promptly debunked the misinformation on the same platform. Experts are emphasizing the dangers
Lightricks launches AI-powered filmmaking studio to help creators visualize stories
Lightricks, the company behind popular apps like Facetune and Videoleap, has unveiled a new AI-driven filmmaking tool called LTX Studio, according to TechCrunch. The web-based tool guides creators from ideation to generating an AI-powered short clip, allowing them to visualize a storyline. Currently, LTX Studio is in the waitlist phase, with plans to release it
PARAMOUNT GLOBAL TO LAUNCH ITS NEWEST PARAMOUNT+ BRANDED DESTINATION WITH MULTICHOICE IN AFRICA
Paramount Global Content Distribution announced a licensing deal today with MultiChoice to create a Paramount+ branded destination on the pan-African platform. This agreement is part of Paramount's strategy to expand the Paramount+ brand in more ways around the world, including making it available as a direct-to-consumer streaming service, through bundled partnerships in key markets as well as
Cape Town cements its reputation for offshore safety training excellence
As South Africa moves along its journey towards energy security, the need for the safe and responsible exploration of natural gas options has become even more critical. An offshore training centre based in Cape Town this week marked a major milestone in its efforts to support this drive for safety. “The need for skills and
Another 100 businesses close down in South Africa
In the initial year of 2023, South Africa saw a huge surge in business closures, with 109 enterprises shutting down, marking a great 35% increase compared to the same period in the previous year. Statistics South Africa's recent data on liquidations reveals a 34.6% rise in the total number of liquidations in January 2024 compared
Amazon to potentially outshine Takealot in South Africa
Amazon's fast approach into the South African market is expected to reshape the country's eCommerce landscape, with the potential to outshine local competitors like Takealot. Equity analyst Damon Bush from M&G Investments has emphasized Amazon's historical strategy of a gradual and measured approach when entering new markets. Starting with a soft launch, Amazon progressively expands
Lenovo Accelerates Telco Transformation with Next-Generation Edge AI Innovations at MWC ‘24
At MWC 2024, Lenovo unveiled next-generation Integrated Edge AI Solutions for Telco that help enterprises go beyond the data center to harness vast bodies of data at the far edge for transformative AI applications at scale while reducing energy consumption. The innovations are part of a comprehensive pocket-to-cloud portfolio of Lenovo hybrid AI solutions designed to simplify the path
HONOR Debuts a New AI-empowered All-scenario Strategy at MWC 2024
Global technology brand HONOR has revealed its new all-scenario strategy by introducing AI-empowered cross-OS collaboration and human-centric intent-based AI and a suite of smart devices with global partners. During its keynote, HONOR not only announced the global launch of the HONOR Magic6 Pro, but also its latest AIPC, the HONOR MagicBook Pro 16, all of
Providing shared services that offer excellence to everyone in the value chain
The global shared services sector is booming, driven by the need for companies to manage costs and centralise certain non-core services. Shared services bring value to brands by providing a range of services at a cost-effective and competitive price. By standardising processes and using specialised software and tools, shared service providers can streamline tasks and