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Breaking News today – Monday 23 September 2024
Business & Tech News Egyptian Bank Sell Off Announced: Egypt is aiming to sell $3.6 billion in state assets denominated in U.S. dollars in the current financial year ending in June2025, as part of an $8 billion financial agreement it signed with the International Monetary Fund in March. It also agreed to divest additional assets
How People, Processes and Technology Secure Matric Exams
On Monday, 21 October, the first papers in this year’s National Senior Certificate, or Matric, exams will be written. As always, exam paper security is a major concern. It is reassuring that specialist service providers have been entrusted with the secure printing, storing and transporting of exam papers. Ever wondered how the exam papers for
TAAG Angola Airlines takes delivery of its first Airbus A220 aircraft
Johannesburg, 20 September 2024 – Angola’s leading airline and flag carrier, TAAG Angola Airlines, has taken delivery of its first A220, an A220-300 from the Airbus Mirabel site, in Canada. The aircraft is on lease from Air Lease Corporation (ALC) (NYSE: AL). The addition of the A220 to the fleet of the state-owned airline is
Does a Central BRICS Currency Make Sense?
What is the value of a shared currency? And is this a good opportunity for BRICS partners, or will such a move simply turn smaller partners such as South Africa (SA), Egypt and Ethiopia into unwitting dumping grounds for cheap Chinese products and cut off their existing larger trading partners? Geopolitics have been at the
Breaking News today – 20 September 2024
Business & Tech News Egyptian Investment Rallies Bonds: The past week has seen Egyptian bonds rally to a two-year high, driven by recent gains in their currency and the announcement by Egypt's Prime Minister, Mostafa Madbouly, who on Thursday announced that the planned Saudi Arabian investment of $5 billion in Egypt is independent of funds
SA FMCG Market Grows by R181 Billion in Q2 2024, While Tech & Durables Remain Flat at R31 Billion
South African shoppers spent a total of R181 Billion on FMCG in the second quarter (Q2) 2024, representing a 4,8% uplift compared with the same period last year. The Tech & Durables (T&D) market, meanwhile, remained virtually unchanged from the same period last year at a value of R31 billion for Q2 2024. This is according
From open banking to open finance: SA’s fintechs to drive the next financial evolution
For centuries, banks were built on paper trails and brick-and-mortar branches. However, long before smartphones, banks were already collaborating with fintechs to build innovative value propositions. In South Africa, this collaboration dates back to the late 90s when payment providers began integrating with banks to offer seamless card processing. Then came the internet, transforming banks
Green Hydrogen Projects Green Lighted
South African Public Works and Infrastructure Deputy Minister, Sihle Zikalala, gave an update on the nine Strategic Integrated Projects (SIPs) Yesterday. The value of the investments required for all nine SIP’s is a Capex input of $17,2 billion. The Green Hydrogen National Programme (GHNP) has already attracted projects with the capex value of over $45,9
TCL Leads, the world follows: World’s top Television Tech leader sets the bar
Johannesburg, September 19, 2024 – Often when we consider the volume of technological advances, we can fail to recognise just how much this has completely changed the world around us even in our homes and offices. It is not only in highly visible technology areas such as space tech and communications that massive advances have
Breaking News today – 19 September 2024
Business & Tech News Ghana – GDP Growth Gains: The Q2, 2024 Gross Domestic Product (GDP) numbers for Ghana were released yesterday (18 Sept.). Data showed that Ghana's economy had grown by a significant 6.9% year-on-year, the highest growth rate experienced since 2019. The strong growth represents a significant recovery in economic growth for the
Neuralink Unveils Blindsight Implant, Promising Vision Restoration for the Blind
The pioneering brain-computer interface company, Neuralink, has announced a breakthrough with the development of its Blindsight implant, designed to restore vision for individuals who have lost both eyes. The company’s founder, Elon Musk, revealed the innovation on Wednesday, saying that the device has received “breakthrough device” designation from the US Food and Drug Administration (FDA)
China Unveils New Quantum Computer, 100 Trillion Times Faster Than Existing Supercomputers
China has introduced its ground-breaking quantum computer, Jiuzhang, which is said to be 100 trillion times faster than the most advanced supercomputers already existing. This major technological leap signifies a significant step in achieving quantum supremacy, where quantum computers, powered by qubits rather than traditional binary bits, can handle exponentially larger volumes of data at
Australia's Bitcoin ATM Market Booms, Making it One of the Fastest-Growing Worldwide
Australia's Bitcoin ATM landscape has experienced a remarkable surge, making it one of the fastest-growing markets in the world. According to Coin ATM Radar, the number of Bitcoin automated teller machines in the country has skyrocketed from just 73 in September 2022 to 1,162 by mid-2024, marking an exponential rise in installations. This growth positions
SARS Increases Customs Duties for Online Retail Orders
Despite being a relatively new player in the global fashion sense, South Africa's textile industry plays a significant role in the country's economy, contributing to job creation, economic development, and export earnings. The textile industry, which includes the production of fabrics, apparel, and home textiles, has a rich history and has undergone significant transformations over
South African National Petroleum Company Formed
A policy statement released by President Cyril Ramaphosa has seen the formation of a new state-owned petroleum company, the South African National Petroleum Company (SANPC). The new entity will see a merger of the Central Energy Fund (CEF) subsidiaries, iGas, PetroSA and the Strategic Fuel Fund into a single entity. According to a statement released
Collective X Opens Applications for Co-Funded Initiative to Address SA’s Digital Skills Shortage
Collective X is excited to announce that applications for its co-funded digital skills initiative will open on Thursday, 19 September 2024. With R50 million available to invest in co-funding digital skills programmes, this initiative presents a unique opportunity for employers to help shape the future of South Africa’s digital workforce. South Africa faces a critical
SEACOM awarded Carrier Wholesales Provider of the Year at Africa Digital Economy Awards 2024
SEACOM, the leading provider of wholesale digital infrastructure and managed services, has been honoured with the award for Carrier Wholesales Provider of the Year at the 9th annual African Digital Economy Awards (ADEA). The awards ceremony was held on 13 September at the Ole Sereni Hotel in Nairobi and attended by members of the SEACOM
10 African Startups Selected to Pitch Their Products at Demo Day in New York City
NBA Africa recently announced the 10 startup companies from seven African countries that have been selected to pitch their products to a panel of international industry leaders at a Demo Day at the NBA headquarters in New York City on Wednesday, Sept. 25 as part of “Triple-Double: NBA Africa Startup Accelerator,” which the league launched
Interest, Inflation and Irregular Regulatory Institutions
As markets hover around the pending US FED decision on cutting interest rates today, it has become increasingly obvious to market observers that the markets and decisions around interest rates have become somewhat schizophrenic. Markets react to the slightest adjustments in what is usually sentiment rather than on solid data and direction. Interest rates have
Breaking News today – 18 September 2024
Business & Tech News Data Centre Development Partnership: In a joint announcement yesterday, Microsoft and BlackRock said that they plan to create a $30 billion fund, that is anticipated to grow to $100 billion, that will be utilised to invest in artificial intelligence infrastructure to build data centres and energy projects. The computing power required for