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Breaking News today – Friday 21 February 2025
Business & Tech News South African Rand Bounces from Two-Week Low: The South African rand (ZAR) strengthened to around 18.34 per USD this morning, to a two month high for the currency, driven by a weaker dollar that is due to set a third consecutive week drop today, and a shift in focus away from
African Bank’s Fashion Partnership Signals a New Era in Corporate Strategy
As African Bank marks its 50th anniversary, the bank is making waves on the international stage by merging finance with fashion. Under the banner “Africa to the World, and the World to Africa,” African Bank has partnered with renowned fashion house Khosi Nkosi to present two bespoke collections—Legacy and Frontline—at Milan and Paris Fashion Weeks
4th Gen BMW X3 Test Drive
22 years ago BMW launched what was to become a trail blazing new vehicle segment, creating the first mid-sized premium SUV globally. This week BMW hosted the media to experience the official birth of the new fourth-generation BMW X3 SUV model. The vehicle range consists of three variants: the 2-litre X3 20 diesel variant, The
Michael Berner To Lead Visa's Expansion in Southern and Eastern Africa
Twenty-four Visa operations in the Southern and Eastern Africa (SEA) region now have a newly appointed head who will assume his duties immediately. Michael Berner, who has been recently appointed, will report to Visa’s Regional President of Central and Eastern Europe, Middle East, and Africa (CEMEA), Andrew Torre. He will continue as part of Visa’s
Apple Unveils iPhone 16e: A New Budget-Friendly Upgrade with AI Features
Apple has introduced the iPhone 16e, a revamped low-end smartphone priced at $599. This latest addition to Apple’s line-up is set to hit stores on February 28, with pre-orders beginning on February 21. The pricing, when converted directly, equates to just over R11,000 in South Africa, before factoring in import duties and VAT. Replacing the
BYD Expands Its Footprint in South Africa with Three New Models in 2025
Chinese automaker BYD is set to increase its presence in the South African market with the debut of three exciting new models this year: the Shark 6 plug-in hybrid bakkie, the Sealion 6 plug-in hybrid SUV, and the all-electric Sealion 7 coupé-SUV. These launches, which were initially reported by The Citizen, indicate BYD's strategy to
Warren Buffett’s Berkshire Hathaway Adjusts Financial Portfolio in Q4 of 2024
In the final quarter of 2024, Berkshire Hathaway, the investment powerhouse led by legendary investor Warren Buffett, made notable changes to its portfolio by reducing its stakes in both Bank of America and Capital One. These adjustments were disclosed in Berkshire’s 13F filing with the U.S. Securities and Exchange Commission (SEC), a mandatory report for
Blue Label Experiences Revenue and Earnings Decline in First Half of 2025 Financial Year
Blue Label’s financial performance for the first half of the 2025 financial year showed a decline in both revenue and earnings, primarily driven by the struggles of its Comm Equipment Company (CEC) segment. The company, which owns a non-controlling stake in Cell C via its subsidiary, The Prepaid Company (TPC), released its interim results for
East Africa’s Rising Dominance in Startup Funding
East Africa has emerged as a leader in startup funding in recent years, showcasing a remarkable shift in the region’s investment landscape. In 2020, the region secured 31% of the continent’s total investment, which, although a leading share, was marginally ahead of West Africa by just $6 million from a $1.1 billion total. However, it
Google Introduces New Screen Search Feature for iOS Users in Chrome and Google Search Apps
Google is rolling out a new feature for iPhone users this Wednesday, allowing them to quickly search what’s on their screen through simple gestures within the Google Chrome and Google Search apps. This update brings functionality similar to Android’s “Circle to Search” feature, enabling users to easily search by tapping, highlighting, or drawing on any
Uber Shifts to Subscription Model for Auto-Rickshaw Drivers in India
Uber has announced a significant shift in its approach to auto-rickshaw services in India, moving away from its commission-based model in favour of a daily subscription fee for drivers. This change comes as the company faces increasing competition from local ride-hailing rivals, including Rapido and Namma Yatri, which have been attracting drivers with their commission-free,
Breaking News today – Thursday 20 February 2025
Business & Tech News Rand Dips on Budget Delays: The South African rand (ZAR) depreciated to a more than two-week low of 18.60 to the US dollar at one point, after Finance Minister Enoch Godongwana delayed his annual Budget Speech that was expected to be tabled in the SA parliament yesterday (19 Feb). This was
Kenyan Banks Rush to Lower Lending Rates Amid CBK Crackdown
Kenyan banks are swiftly reducing their lending rates following a firm directive from the Central Bank of Kenya (CBK), which has warned financial institutions of daily penalties for non-compliance. The regulator has intensified its enforcement efforts, targeting banks that have been slow to pass on the benefits of recent rate cuts to borrowers. Despite multiple
South Africa's Budget Speech Postponed as VAT Increase Sparks Disputes
The 2025 Budget Speech, which was set to be delivered by Finance Minister Enoch Godongwana today has been postponed for the first time in 30 years of South Africa’s democracy. The budget speech was delayed due to disagreements among key parties. Speaker of the National Assembly, Thoko Didiza, confirmed that the delay follows unsuccessful discussions
HONOR to Unveil Ground-breaking "HONOR ALPHA PLAN" at MWC 2025
Global technology powerhouse HONOR has confirmed its participation in Mobile World Congress (MWC) 2025 in Barcelona, setting the stage for a major announcement that could redefine the future of AI technology. The company will unveil its ambitious new strategic initiative, the "HONOR ALPHA PLAN," during a keynote presentation on Sunday, March 2, 2025. Alongside this
The Evolving Landscape of Data Governance in the BPO Sector
In an era where data is often described as "the new oil," businesses worldwide are under increasing scrutiny regarding their data governance practices. As custodians of vast amounts of sensitive customer information, companies must prioritize robust security measures to protect consumer trust and comply with ever-evolving regulations. For the Business Process Outsourcing (BPO) sector, these
MTN Joins Forces with Eastern Cape Authorities to Safeguard Network Infrastructure
MTN has forged a strategic alliance with the Eastern Cape Provincial Police Board and the Eastern Cape Community Police Forum (CPF) to protect its critical network infrastructure. This collaboration comes in response to a concerning rise in vandalism incidents, with an average of 71 cases reported over the past six months. The initiative is a
EMEA Leads in AI Satisfaction and Investment Growth, Despite Key Challenges
Business leaders and IT decision-makers across the EMEA region report the highest satisfaction with AI projects globally, driving a remarkable 104% increase in AI investments this year, according to new research from Lenovo. The AInomics CIO Playbook 2025, developed in collaboration with IDC, highlights that while AI investment and confidence continue to rise, organizations still
Budget Speech 2025 Preview Podcast
In Our Pre-Budget speech podcast, Businesstech Africa unpacks what the likely direction of the 2025 budget speech will take, with your host Greg Stewart talking with Garth Rossiter, the Chief Risk Officer at Lula to unpack some of the details. Budget Update Due to major disputes around the proposed budget for the 2025/2026 financial year,
AA Calls for Fuel Levy Freeze Amid Rising Consumer Costs
The Automobile Association (AA) of South Africa has called on Finance Minister Enoch Godongwana to maintain the current fuel levy in the upcoming National Budget Speech on 19 February. AA CEO Bobby Ramagwede emphasized that the association does not anticipate any increases in the levy, urging the government to reassess its structure due to already