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Cell C looking to grow revenue to R26 billion
Jorge Mendes, the new CEO for Cell C has revealed that they have plans on the pipeline to reach 15% revenue market share in South Africa to become sustainable, which will require a big jump in revenue. In a media briefing this week, Mendes said the telecoms company will be shaking up the South African
Ellies acquisition of Bundu Power gets green light from Competition Commission
Reports have confirmed that the Competition Commission has unconditionally approved Ellies’ proposed acquisition of Bundu Power. Having a lot that was riding on the deal, this is a major milestone for Ellies. The company highlighted the importance of this deal in its annual results that were released at the beginning of August. Ellies had reported
Early Apple computer ad handwritten by Steve Jobs sells for R3.3 million
Handwritten by Steve Jobs, a draft for an advert for the Apple I computer has sold at auction for $175,759 (R3.3 million). According to the RR Auction listing, the piece of paper was expected to make no more than $30,000 (R560,349). It is said that the final bid was nearly six times higher than the
Adumo empowering SME growth through digital payments
It is always very important for merchants to embrace fintech solutions as a safeguard against the challenges posed by fluctuating trade cycles across different industries in today’s business landscape. Adopting innovative financial technologies means that merchants can effectively mitigate the risks associated with inadequate cash flow management, thereby fortifying their resilience and stability in the
MTN impacts South African economy more than its profit
One of the main findings of the new True Value Assessment Report that MTN South Africa released on Friday is that it contributes R76-billion, 17 times its profit, to South Africa’s economy. The metric of “true value” comes from a methodology devised by consulting firm KPMG, which MTN partnered with in an effort to quantify
TymeBank introduces free transactions with PayShap
One of the latest financial services institutions to offer instant payments through PayShap is TymeBank, which is South Africa’s real-time digital settlement platform that doesn’t require users to share their account details. Unlike other banks, though, TymeBank has promised not to levy a fee on PayShap transactions. In a statement, the bank mentioned that this
Eskom has implemented Stage 4 load shedding for the first time in three weeks amid some loss of generation capacity
The National Treasury is due to release its main budget data for July. Absa group and the Thomson Reuters consensus expect a main budget deficit of R123.7bn, slightly smaller than the R129.5bn deficit recorded in July last year. Our forecast is broadly in line with the provisional financing data. A print in line with our forecast
The HUAWEI nova 11 Pro Review
Huawei gave us the great chance to have a look at its latest member of the nova family, which is the HUAWEI nova 11 Pro. Going along with #daretostandout theme, this phone is unique and definitely stands out from other smartphones. It has a beautiful high dynamic display design, giving you the best viewing experience.
Gmail to introduce AI tools for R550/month
Google has revealed that it has plans in place for making its suite of artificial intelligence-powered tools available to corporate Gmail accounts at an additional cost of US$30/month (R550/month) per person, the Wall Street Journal reported on Tuesday (paywall). Reports reveal that the announcement will be made by Google Cloud CEO Thomas Kurian at the
Standard Bank CEO says South Africa losing out to Africa
South Africa is currently losing its competitive advantage over the rest of Africa, with its risk premium deterring investment and making it harder to raise capital to stimulate economic growth. Talking to Newzroom Afrika, Standard Bank CEO Sim Tshablala said the of the bank’s interim results that South Africa is falling behind the rest of
Arrie Rautenbach’s salary at Absa amounts to $2.4 million
Arrie Rautenbach who is the CEO of Absa Group, which is one of the most diversified financial services providers in Africa, received a total compensation of R44.78 million ($2.41 million) for his excellent work at the helm of the leading lender in 2022. This shows a significance of the notable rise of 15.5 percent compared
Tesla working on a Supercharger station with drive-in movie theatre
Teslarati has reported that the electric car company, Tesla has received approval to build a Supercharger electric vehicle charging station with its own diner and drive-in movie theatre in Los Angeles. The official approval documents that the publication received came from the city’s Department of Building and Safety. Initially, Tesla’s application was submitted in November
Minister Kgosientsho Ramokgopa says South Africa’s electricity is ‘albatross’
According to the electricity minister, as the government takes steps to stabilise the grid, the South African electricity distribution system is “an albatross” beset by fighting between the national power utility and municipalities. Eskom, the state-owned company has focused on improving the performance of the mainly coal-fired power stations that have become unreliable due to
MTN looking to offer funeral insurance through WhatsApp
MTN South Africa has made an announcement that it is pushing deeper into financial services, revealing that it will be offering “budget-friendly” funeral cover to South African consumers. The company also revealed that under its new Khava brand, MTN’s prepaid funeral insurance is the first of a range of insurance products designed for the local
Paycorp improves Financial Inclusion in South Africa
The prominent payment solutions provider, Paycorp, has received clearance from the South African Reserve Bank (SARB) as a direct clearing system participant. The accreditation gives power to the company to directly process payment transactions within the National Payments System through BankServ Africa and internationally via its primary memberships with Visa and MasterCard. Paycorp functions as
Reinforcing Personal Safety: The Namola app is the quickest way to request emergency assistance
Personal safety has taken on a new dimension, with the development of innovative apps that offer quick and efficient ways to summon help in the event of an emergency. One such app that has gained considerable attention is the Namola app. Designed to connect users with emergency services swiftly and intelligently, the Namola app has
Turning Left: Success rests in connection, not perfection
According to the Economist, There is a say, "a backlash against the tyranny of high expectations" within the workplace, a time to not be perfect at work. Why? Because burnout and stress are at record highs. A Future Forum survey reported that burnout was at the highest levels since May 2021 with 42% of respondents
Up your financial game with Experian’s new free financial wellness web app
Experian, one of the largest credit bureaus in South Africa, has launched Up, a free credit, budgeting and learning experience web-based app, that aims to help South Africans take control of their financial health. The Experian Consumer Default Index (CDI), which tracks the rate of increase in consumer first payment default, has steadily increased over the past
Private sector credit extension growth is likely to have moderated further in July against a backdrop of higher interest rates
The domestic macro calendar is fairly busy this week. The SARB is hosting its Biennial Conference on Thursday and Friday under the theme ‘post-crisis lessons and policy challenges’. The SARB notes that the aim of this year’s conference is to bring together speakers to reflect on the challenges faced by central banks and other macro policy
Redvine Networks collaborates with Lytn to enhance network intelligence in Africa
Redvine Networks, the fully managed secure SD-WAN and networking service provider and distributor, has collaborated with French software developer Lytn, to combine machine learning (ML) and advanced artificial intelligence (AI) to build a solution exclusively for the African continent to proactively optimise network performance for customer environments. “Redvine RHEA is an exciting addition to our solutions stack and demonstrates our continued commitment to driving a technology