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Botswana Strikes Landmark Diamond Deal with De Beers
Botswana’s newly elected President, Duma Boko, has secured a pivotal diamond extraction and sales agreement with De Beers, bringing stability to the nation’s gem-reliant economy. The agreement, finalized by midnight on January 24, will be formally announced in the coming days, Boko confirmed in a recent interview. As the world’s leading producer of rough diamonds
Breaking News today – Wednesday 29 January 2025
Business & Tech News US Tech Stocks Rebound U.S. stocks saw a rebound yesterday, led by the Nasdaq’s 1.5% surge, as technology shares recovered from Monday’s AI-driven sell-off triggered by Chinese AI start-up DeepSeek’s announcement of a competitive AI model. Nvidia clawed back 8.8%, recovering some of its historic 17% single-session loss on Monday that
Prescient Launches new Domestic Balanced Fund
Businesstech Africa spoke to Rupert Hare, Head of Multi-Asset portfolio at Prescient Investment Management, about their newly launched Prescient Domestic Balanced fund. Prescient is an independent systematic investment company, meaning that they utilise sequence of data driven systems that deeply analyse stocks and investments, independent from any sentiment type decisions. Why a Local Focused Fund
DeepSeek's R1 Model Disrupts AI Industry and Challenges Nvidia's Dominance
DeepSeek, a Chinese AI startup, has set the AI industry abuzz with the release of its ground-breaking R1 model. Unveiled on Friday, R1 has drawn widespread attention for its impressive functionality and accuracy, rivalling U.S.-based counterparts while using fewer resources and less computational power. While this milestone is undoubtedly a win for the global AI
Democratic Republic of Congo Showcases Opportunities at Paris Forum
The Democratic Republic of Congo (DRC) took centre stage on the 21st of January 2025, hosting the "Invest in DRC" forum in Paris. This event, organized in collaboration with NBA legend Tony Parker, highlighted the DRC’s untapped potential and its commitment to attracting global investors. With the endorsement of President Félix Antoine Tshisekedi, the forum
Visa Invests in Moniepoint to Empower African SMEs and Advance Financial Inclusion
Moniepoint Inc., Nigeria’s leading business payments and banking platform, has secured a significant investment from Visa, a global leader in digital payments. This strategic partnership underscores Visa’s commitment to fostering financial inclusion, driving the growth of digital payments, and supporting small and medium-sized enterprises (SMEs) across Africa. Founded in 2015 by Tosin Eniolorunda and Felix
Naked Secures Record $38 Million in Series B2 Funding
South African insurtech firm Naked has made headlines by securing $38 million (R700 million) in its Series B2 funding round, which is the company’s largest capital raise to date. This milestone not only showcases Naked’s rapid growth but also highlights its significant role in rejuvenating an industry that has seen limited activity in recent years.
Breaking News today – Tuesday 28 January 2025
Business & Tech News Electrification Plans for Africa: Africa holds the awkward distinction of being the continent with the highest number of people without access to electricity. The impact of this is a large number of people without the means of modern agriculture, limited access to communication, information and effective healthcare facilities. The number of
Global tourism surpasses pre-pandemic levels in 2024
2024 marked a historic turning point for global tourism, with 1.4 billion international tourist arrivals, signalling the sector's full recovery from the worst crisis in its history. According to the latest World Tourism Barometer from UN Tourism, international arrivals reached 99% of pre-pandemic levels, reflecting a robust 11% increase over 2023. This surge, amounting to
UD Trucks and the Future of Trucking
UD Trucks, held its annual press briefing at the Cradle Hotel in Muldersdrift this morning, where Filip Van den Heede, Managing Director of UD Truck South Africa, unpacked some of the developments in the company and trading environment. Technology Driving Massive Changes Filip believes that 2025 is an important year for the group and comments
Argentina – Model of Economic Reforms That Works
South Africa could learn many valuable lessons from Argentina and its economic revival at the hands of President Javier Milei. In Particular there should be much to learn from the significant cuts in Argentina’s public spending that has recently delivered a budget surplus in a country once thought to be doomed to bankruptcy and economic
Breaking News today – Monday 27 January 2025
Business & Tech News Indian Court Case Against OpenAI Gets New Momentum: Reuters have reported that the digital news units of Indian billionaires Gautam Adani and Mukesh Ambani, and other outlets like the Indian Express and the Hindustan Times, have mounted a legal challenge against OpenAI's improper use of copyright content. This follows an original
SanlamAllianz Credit Rating Updated
SanlamAllianz Re Ltd (SAZ Re), the reinsurance company with a market presence over 45 countries in Africa, has announced that ratings agency, AM Best, has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to the company. The outlook assigned to these credit ratings is stable, reflecting
ISFAP Invests Over R220 Million in Comprehensive Student Support Since 2017
The Ikusasa Student Financial Aid Programme Foundation NPC (ISFAP) has proudly invested over R220 million since 2017 to provide crucial wrap-around support to students receiving bursaries from the organisation. This substantial investment reflects ISFAP’s unwavering dedication to ensuring that students are equipped with the tools they need to succeed academically and personally as they work
Transforming IT Distribution: Key Sustainability Trends for 2025
As organizations, governments, and communities increasingly demand responsible practices, the IT distribution landscape is undergoing a profound shift. Sustainability is no longer just a buzzword—it’s becoming a cornerstone of operations, innovation, and community engagement. Looking ahead, here are the key sustainability trends poised to reshape the sector in 2025. Sustainability as a Core Business Strategy
How Smart Logistics Powers T20 Cricket
Sports is deeply ingrained in South African culture, evoking a powerful emotional connection that generates an electrifying atmosphere for both players and spectators. Among these cherished sports, cricket stands out as a unifying force, bringing millions of South Africans together. It transcends borders, ignites resilience and passion, and nurtures a profound sense of community. Behind
Smart Cashflow Tips For A Profitable Year Ahead
As 2025 begins, businesses have the perfect opportunity to prioritise effective cashflow management. Strong cashflow strategies ensure you meet commitments, invest in growth, and navigate unforeseen challenges with confidence. Roy Avungana, Chief Operating Officer (COO) of Chapu Chartered Accountants advises that implementing efficient cash flow management strategies is crucial because it will enhance your business
Taxes in Africa – Are they Effective or Destructive?
None of the global top ten lowest corporate tax rate nations, occur in Africa, and that may be one of the key reasons Africa is lagging behind in terms of global investment rates. While International corporate income tax rates vary, the average rate of corporate tax sits at around 23.45%. There are extremes, with a
Why Human-Centred Design Thinking Will Drive Business Growth in 2025
As South African businesses emerge from a turbulent 2024, 40% of companies identified inflation and macroeconomic volatility as a threat, and 23% are concerned about cyber risks. While 2025 brings the end of load shedding, falling interest rates, and a more stable fiscal outlook, it also presents its own set of challenges, including escalating geopolitical
Breaking News today – Friday 24 January 2025
Business & Tech News Mozambique Debt to Income Ration Causes Concern: Mozambique's external debt-to-GDP ratio has dropped to 66.2% from 72.1% and with multiple delays in the development of its liquefied natural gas fields, has resulted in concerns that it will be some time, before its external debt service can benefit from the expected gas exports.