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Amazon launches Cape Town hub to boost local E-Commerce
Small, Medium, and Micro Enterprises (SMMEs) in South Africa, which employ approximately 50% of the country’s workforce, play a crucial role in the economy. However, many face challenges in adopting digital tools and accessing e-commerce opportunities. To support these businesses, Amazon South Africa has launched the Amazon Seller Success Centre, a new initiative aimed at
Business Averse Policy Continues to Strangle Growth in South Africa:
Commission Recommends Increase for 2025 The announcement by the National Minimum Wage (NMW) Commission over the weekend, in the government gazette, outlines its recommendations for the annual review of the national minimum wage. The Consumer Price Index (CPI), which measures changes in the prices paid by consumers for goods and services over time, is a
Frogfoot RISE Fibre Partnership with BareMetal a Success
Digital Divide Remains a Challenge In South Africa, it is estimated that around 20% of the population still remains digitally unconnected. Particularly in rural and underserved communities where existing infrastructure still needs major development. In a new venture announced, this is one of the solutions required to address this and ensure that the country achieves
Breaking News today – Monday 20 January 2025
Business & Tech News TikTok Back up in US After Trump Extension Promise: Chinese owned social media TikTok, had faced a ban in the US after out-going president Biden had signed a bill that the company must find a US purchaser or shut-down its US operation. Yesterday saw the service initially shut down all US
Business Leadership Lessons
Elon Musk, while sometimes a controversial figure, is undoubtably one of the most remarkable and successful business leaders of our age. Considering that he runs six major corporations with incredible attention to detail, is an impressive achievement in anyone's book. That these corporations, are the size and scope that they are, takes it to another
TikTok set to halt U.S. operations amid pending federal ban
TikTok is preparing to suspend its U.S. operations on Sunday, as a federal ban is set to take effect, unless a last-minute intervention occurs. The popular social media platform, which is used by approximately 170 million Americans, faces a potential shutdown unless a reprieve is granted by the incoming or outgoing U.S. administration. Reuters reported
The Rapid Expansion of AI in South Africa, Bridging the Gap in Education
Artificial intelligence (AI) is rapidly transforming industries worldwide, with South Africa witnessing swift adoption in some sectors while others, such as education, struggle to keep pace. Jaco Oosthuizen, Rectron's category manager for mobility, highlights how AI could be the catalyst to resolve South Africa's persistently poor academic outcomes. Globally, AI is seeing unprecedented growth. In
Red Hat Launches OpenShift Virtualisation Engine
Red Hat, Inc., the world's foremost provider of open source solutions, has announced the general availability of Red Hat OpenShift Virtualisation Engine. This new edition of Red Hat OpenShift is designed exclusively for organisations seeking a dedicated platform to leverage proven virtualisation functionalities within OpenShift. By focusing solely on virtualisation workloads, Red Hat OpenShift Virtualisation
Teaching Kids About Money: A Lifelong Skill
With nearly half of South Africans considered financially illiterate, equipping children with money management skills is an essential responsibility for parents. Research by behavioural experts David Whitebread and Sue Bingham from the University of Cambridge reveals that children begin forming money habits as early as seven years old. Niresh Gopichand, Director of Risk at Atlas
Ithala Bank Facing Liquidation
The Prudential Authority, a division of the South African Reserve Bank, has applied to the Pietermaritzburg High Court for the provisional liquidation of Ithala SOC Limited. Ithala, while referred to as a bank, was not operating under a banking license. The financial institution was granted a special exemption the Minister of Finance in terms of
SPAR Group Battles Debt Challenges
SPAR, the local retailer group in South Africa, has announced it will be selling its Pinetown head office and other non-core assets. The move comes in the wake of poor results in 2023 and its large debt that sits at the R9-billion level currently. Poor Investment Consequences The group has also indicated that it would
Breaking News today – Friday 17 January 2025
Business & Tech News Energy Development in Tunisia Supported by Italy: A new 400 million Euro agreement between Italy and Tunisia was formalized yesterday during a meeting in Rome between Italian Foreign Minister Antonio Tajani and Tunisian Foreign Minister Mohammed Ali Nafti. The agreement takes the form of a two-year partnership, with Italy pledging the
Is Energy Generation in SA on Track to Support Economic Growth?
South Africa’s Energy planning and development is managed primarily by the The Department of Mineral Resources and Energy (DMRE). Their plan for development in the energy sector, is guided by the Integrated Resource Plan or IRP. IRP provides the outlook of electricity demand and anticipated growth, together with what energy generation sources should be procured
Temu reflects on a year of growth in SA’s E-Commerce market
A year after its debut in South Africa, Temu has solidified its position as a favourite among online shoppers. A recent survey conducted by News24 in collaboration with Temu reveals that 1 in 3 South Africans have used the platform, with nearly 40% becoming active monthly users. The survey, which engaged 1 700 consumers, highlights
South Africa’s hospitality partners embrace pet-friendly travel trends
South Africa’s hospitality industry is keeping pace with global travel trends by introducing pet-friendly flights and vacations. Leading the charge is the Drostdy Hotel in Graaff-Reinet, where centuries-old history meets modern luxury. Originally built in 1804, this iconic heritage hotel has been meticulously restored, offering a blend of opulent accommodation and rich cultural experiences. This
Nigeria's Inflation Hits 34.8% in December Amid Festive Demand Surge
Nigeria's inflation rate climbed for the fourth straight month in December, reaching 34.80%, according to the latest data from the National Bureau of Statistics (NBS). This marks a slight increase from November's rate of 34.60%, reflecting heightened economic pressures during the festive season. The NBS attributed the uptick to a seasonal surge in demand for
Hydrobox Secures $9 Million to Transform Rural Electrification in Kenya
Kenya’s Hydrobox is poised to redefine rural electrification with a ground-breaking $9 million (R169,762,014) debt financing deal from FMO, the Dutch entrepreneurial development bank. This significant investment will enable Hydrobox to scale its innovative hydro-powered mini-grid projects, making clean and affordable energy accessible to underserved communities across the country. Hydrobox’s pioneering approach integrates small-scale hydroelectric
AFC's Inaugural Hybrid Bond Raises US$500 Million
Africa Finance Corporation (AFC), a leading infrastructure solutions provider, has successfully issued a US$500 million perpetual hybrid bond. The landmark transaction, is AFC’s debut hybrid bond issue, demonstrated AFC’s potential in accessing global capital markets and financing transformative infrastructure projects across the African continent. Bond Oversubscribed The Bond, that was priced at a coupon of
Vodacom Group Retains Africa’s Top Employer Title for the Second Consecutive Year
Vodacom Group has once again been recognized as Africa’s leading employer by the prestigious Top Employers Institute. This marks the second consecutive year that Vodacom Group, along with its regional subsidiaries, Vodacom South Africa, Vodacom Mozambique, Vodacom Tanzania, and Safaricom Kenya, has achieved the top spot in this esteemed certification. The Top Employers Institute awards
Kaspersky Joins EU AI Pact to Champion Ethical and Secure AI Practices
Kaspersky has reaffirmed its commitment to responsible technology development by signing the AI Pact, an initiative of the European Commission aimed at preparing organizations for compliance with the EU's AI Act. This landmark legal framework, introduced in 2024 and set to take full effect in 2026, represents the world's first comprehensive legislation governing artificial intelligence.