Browse every article
242 articles · 1 filter applied · Reset filters
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
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,
Leading ICT Group Altron achieves significant Microsoft designation milestone
Altron, a prominent information and communication technology group based in South Africa, has reached a notable milestone by attaining all six Microsoft Solutions Partner designations in Africa. This achievement aligns with the Group's recently declared ambition to establish itself as the leading platform and IT services provider in its chosen markets. This accomplishment reinforces Altron's
NEXT176 invests R27 Million in SA start-up JOBJACK to empower job seekers and cut costs of job hunting
NEXT176, a venture business with strategic backing from Old Mutual, has unveiled a R27 million investment in JOBJACK, a dynamic South African tech start-up at the forefront of reshaping entry-level recruitment. JOBJACK is poised to revolutionize the job market in South Africa by tackling issues of access and affordability for job seekers. By eliminating costs
Kenyan President Ruto Defends Controversial Debt Reduction Measures Amidst Economic Turmoil
In a bold move to address Kenya's mounting economic challenges, President William Ruto has staunchly defended his administration's efforts to cut "unnecessary" public debt. This comes amid public outcry over the removal of subsidies and the implementation of new taxes, with Finance Minister Njuguna Ndung'u acknowledging the country's "difficult financial position." Facing a trifecta of
South Africa's Uphill Battle: Struggling to Meet 2030 Emissions Goals
South Africa will fail to meet its binding carbon emissions reduction targets for 2030 under the Paris climate agreement, according to confirmation from three senior government officials. South Africa had pledged to cut emissions to between 350-420 million metric tons by 2030, down from 442 million in 2020. This hinged on decommissioning eight coal power
Ford to invest R5bn in SA to produce the first-ever hybrid electric vehicle
Ford Motor Company has announced a R5.2 billion investment in its Silverton, South Africa assembly plant to produce the first-ever Ranger plug-in hybrid electric vehicle (PHEV). The investment aims to make Ford's South African operations entirely energy self-sufficient by 2025. Ford also revealed plans to launch nine new models in South Africa over the next
WeWork files for bankruptcy
WeWork, the office-sharing company backed by SoftBank, filed for Chapter 11 bankruptcy protection in the United States after its business model was upended by remote work trends. The filing represents an admission by key investor SoftBank that WeWork's survival depends on using bankruptcy to renegotiate costly leases. SoftBank owns approximately 60% of WeWork. According to
Job cuts looming at Impala Platinum
Facing declining platinum group metals (PGM) prices, Impala Platinum (Implats) has started offering voluntary severance packages to employees at its South African mining operations. The job cut program began last month at Implats' headquarters and has now expanded to its Rustenburg mining complex, according to company spokesperson Johan Theron. The extent of potential job losses
Clientèle and 1Life announce merger
JSE-listed life insurer Clientèle announced plans to acquire competitor 1Life Insurance Limited from Telesure Investment Holdings (TIH) in an all-share deal worth R1.91 billion. Under the agreement, Clientèle will exchange 26% of its issued share capital to complete the purchase of 1Life. Post-acquisition, TIH will be granted board representation at Clientèle with two director appointments.
$900 million in 8 days for SA’s richest man, Johann Rupert
South African billionaire Johann Rupert has seen his net worth skyrocket by $900 million in just over a week, cementing his position as one of Africa's wealthiest individuals. According to the Bloomberg Billionaires Index, which tracks the fortunes of the world's richest people, the chairman of Compagnie Financiere Rupert is now worth $11.2 billion. This
Vox and 3CX Embrace Nymbis Cloud Technologies' Virtual Data Centre Infrastructure
Leading telecoms provider, Vox, sought an affordable, agile, and scalable virtual data centre solution to enhance its 3CX business telephony offering. The new virtual data centre had to offer robust redundancy and fail-over capabilities while adapting to evolving customer and market demands, as highlighted by Natalie van der Merwe, Head of Telephony at Vox. While
What is a ‘regenerative business’? – Insights from Kearney report
Only 40% of global businesses have effectively implemented a regenerative culture, and 45% are already operating a regenerative supply chain. Over half (53%) of global businesses in the retail sector are operating regeneratively. Analysis from global consultancy Kearney has found that over half (56%) of executives say their current business transformations aren’t working. Despite businesses
Clicks to Fakes: The Impact of Social Media on Counterfeiting
As social media platforms become the new marketplaces, the line between authentic and counterfeit blurs. How do we navigate this brave new world of fakes and forge a path for genuine products? Jason Govender, Candidate Attorney, and Jarred West, Partner at Spoor & Fisher explore the intricate web of counterfeit sales on social media and
Software updates for iPhone, iPad and Mac paused until next year to fix glitches
Apple has paused development on upcoming software updates for iPhone, iPad, Mac and other devices in order to address performance issues and bugs. The temporary halt, internally announced last week, aims to improve quality control after early versions saw an influx of flaws. Engineers have shifted focus from adding new features to fixing bugs and
Two South African schools venture into VR
Virtual reality (VR) headsets are being introduced in select South African classrooms to provide students with immersive educational experiences that complement the curriculum. Two Johannesburg schools, Reddam House Helderfontein and Reddam House Waterfall, are pioneering the use of VR technology to engage students in deeper learning. The schools are part of Inspired Schools Africa, whose