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R2,3 m supplier development support sets Murex financial software supplier on fastrack for growth
Kion Consulting, a local company which provides technological and quantitative solutions to the financial services sector in the trading, treasury, risk, and post-trade operations sectors, has received an R2,3 million development provision through the Standard Bank Group’s Securities Supplier Development Programme. This will enable Kion Consulting to launch an employment and training initiative that will
Shifting Currents: South African Businesses Must Balance Equity and Innovation in the Renewable Energy Surge
Our energy industry is in a state of upheaval. In 2023 we’ve grappled with the worst load shedding ever on record, with over 250 days affected by bouts of load shedding, with resulting economic losses estimated to be in the trillions. The impacts have been especially gruelling for key economic sectors like mining, tourism, and
Investing in 4IR technology makes business sense for IM&E manufacturers
The pace of technological change is rapidly accelerating across global industry sectors, with machines becoming faster, more powerful, and sophisticated. However, South African industrial equipment and machinery (IM&E) manufacturers have been slow to adopt the latest technology, often relying on outdated models. This reluctance to embrace Industry 4.0 technologies poses a risk of falling behind
Nigeria's Central Bank Sparks Controversy by Postponing Key Interest Rate Meeting Amid Soaring Inflation
Nigeria's Central Bank has once again delayed a crucial Monetary Policy Committee (MPC) meeting to decide on interest rates, coinciding with a surge in headline inflation to an 18-year high of 27% in October, according to data from the country's Bureau of Statistics. Initially scheduled for Monday and Tuesday, the MPC meeting has been abruptly
Logistics companies addressing skills shortages
The logistics sector is undergoing significant transformations, driven by technological advancements and global shifts. The rise of artificial intelligence is poised to bring about substantial disruptions, coinciding with evolving economic and environmental factors that are already impacting supply chains. For instance, the Panama Canal recently faced challenges due to low water levels during an unusually
Lenovo sees signs of recovery across technology sector – delivers quarter-on-quarter performance improvements and further accelerates AI leadership
Lenovo Group Limited and its subsidiaries have reported second-quarter results, revealing a Group revenue of US$14.4 billion and a net income of US$273 million, based on non-Hong Kong Financial Reporting Standards (HKFRS). The gross profit margin reached a record high of 17.5% for the second quarter, with the non-PC businesses contributing 40% to the Group
Zambia Declares Implementation Halt for International Bond Deal
Zambia has suffered a major setback in long-running efforts to restructure $3 billion of debt after failing to reach agreement with official creditors like China under the G20 Common Framework. Zambia announced a revised bondholder deal approved by the IMF still failed to achieve comparable relief terms from bilateral lenders. Creditors objected the deal would
5 Cybersecurity Trends SA businesses must watch in 2024
South Africa’s cybersecurity landscape is becoming increasingly dangerous. In fact, a recent report by Interpol reveals that the country is the cybercrime hub of the continent. As cyber-threats continue to rise, it’s crucial for local businesses to keep an eye on trends shaping the sector.“Preparing for cyber-threats is becoming less of a choice and more
Dynamic Shifts in AI Leadership: Sam Altman Joins Microsoft as OpenAI Names Its Third CEO in 3 Days
Disarray has swept through the forefront of the AI sector as OpenAI experienced the swift removal and subsequent reinstatement of CEO Sam Altman. In a matter of days, the board expressed remorse and committed to restoring unity within the company. Notably, Altman has swiftly assumed a new role, spearheading an advanced AI team under the
Embracing Multi-Currency Accounts for Global Sales this Festive Season
The holiday season is fast approaching, and for South African businesses, it's not just a time for celebration, but also a fantastic opportunity to expand their customer base and sales on a global scale. With the world becoming increasingly connected, businesses can now reach customers in different corners of the globe. However, to do so,
Hyundai cars to be sold on Amazon from next year
Amazon's ever-expanding online store may soon offer an unexpected big-ticket item alongside its array of oddities – brand new vehicles. While South Africans can't purchase cars on Amazon yet, a new Hyundai partnership will allow Americans to buy directly on the platform starting next year. Under the collaboration, Hyundai becomes the first automaker enabled for
SA women entrepreneurs are doing it for themselves and creating thriving businesses
In a country where 51% of the population is female, single women head up approximately 7.6 million households, and we are seeing that more women than men are buying property. It is therefore not surprising that women are ‘doing it for themselves' when it comes to business. “The evidence lies in the number of women
AI & the law in South Africa: How legal students & practitioners can embrace new tech
AI and Chatbots are starting to make real inroads into the daily lives of South African law practitioners and students, mirroring the way their global peers are embracing the opportunities provided by this advancement. However, legal professionals must take care to ensure they use AI as a complementary and augmentation tool, not a replacement for
South Africa to see the launch of Ford’s new SUV Territory
Ford is set to launch the new Ford Territory SUV locally in the second quarter of 2024 after a 15-year absence, as part of its major R5.2 billion South Africa investment. The new SUV is expected to compete with models such as the Hyundai Tucson, Kia Sportage, Mazda CX-5, Nissan X-Trail, Toyota RAV4, and VW
The road to ending load shedding is still far
South Africa will likely prioritize resolving its energy crisis over climate goals, risking reduced funding and export competitiveness, says industry body chief James Mackay. Ending rolling blackouts plaguing the economy may require extending coal power, undermining decarbonization aims. But energy security is viewed as critical for growth. The fastest fix is upgrading creaky coal plants,
Stimulating Job Creation in EC through Successful Completion of 1st Cohort
Samsung, in collaboration with Ocule IT, recently hosted a Graduation Ceremony to celebrate the successful completion of the 1st Cohort of the MICT-SETA Accredited Electronics Technician program in the Eastern Cape. This marks a significant milestone for the graduates who now contribute to the national initiative focused on electronics artisanal skills development, aiming to stimulate
Teaching kids about cybersecurity and internet safety
For many adults today, memories of a time before the internet, cellphones, and social media are still vivid. However, for today’s children, these technological advancements are an integral part of their everyday lives. While the conveniences brought by the internet, smartphones, and social media are remarkable, they have also ushered in new and persistent dangers,
How to reduce your electricity bill
According to Dr. Karen Surridge from the South African National Energy Development Institute (SANEDI), prioritizing energy efficiency is crucial. Adjusting both behavior and equipment can effectively manage electricity demand in homes, leading to reduced electricity bills. This approach falls under the energy industry concept known as demand-side management, where the collective efforts of households, businesses,
Prospective car buyers set to benefit from strong competition in the pre-owned market
Weelee, historically South Africa's fastest-growing online platform and now an established buying and selling business within the pre-owned motor industry, believes that strong competition within the used car market will be the catalyst for innovative solutions, competitive pricing, and enhanced customer service. “In a rapidly evolving economic climate marked by high interest rates, escalating fuel
Redefining Security in the Age of Cyber-Threats
The persistent challenge of cybercrime continues to plague modern businesses, with seventy-one incidents and 3,808,687,191 compromised records reported in September 2023 alone. Globally, the year's breached records have surpassed 4.5 billion, showcasing the severity of the issue. The Orange Cyberdefense Security Navigator 2023 identifies prevalent attack types as malware, social engineering, policy violations, system anomalies,