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Flutterwave moves forward with IPO plans
Africa’s largest start-up at the moment Flutterwave is moving forward with plans for an initial public offering after making headway in resolving allegations of financial impropriety in Kenya so that it can access more and bigger international partners, its CEO said. One of the co-founders of the pan-African payments company, Olugbenga Agboola, pushed to the
Mobile RAN declines at its fastest pace in 7 years
The one thing that handles mobile communications, the global market for radio access networks has been declined at its fastest pace in almost seven years last quarter, according to a report from Dell’Oro Group, adding bad news to 5G equipment vendors already struggling with sluggish customer demand. As much as the markets were already expected
DMRE needing to account for delays to energy reform
The processing delay of the Electricity Regulation Amendment Bill that came to light last week seem to be appalling. Because of the apparent administrative bungling, the bill has not been properly tabled at parliament by the department of mineral resources & energy, so it has not started the process through committees to become law. It
State airline from North Korea makes first international flight after three years
The state airline from North Korea is back online and it has made its first international trip since the start of the Covid pandemic, in a sign of easing border restrictions that could repatriate its stranded nationals abroad and increase trade with its powerful neighbour. It has been indicated by flight data that an Air
BRICS looking to reduce dollar dependence
The South African Deputy President Paul Mashatile has revealed that the leaders of the BRICS nations will focus on ways to reduce dependence on the dollar when they meet this week. The BRICS bloc which include Brazil, Russia, India, China and South Africa, will also be discussing expansion at the summit in Johannesburg. A big
Woolworths looking forward to earnings boost after David Jones sale
Woolworths has made an announcement to its shareholders that it is expecting expects its earnings per share for the 2023 financial year to increase by up to 40%. The company released a trading update this morning regarding the 52 weeks ended 25 June 2023, wherein it provided the expected ranges for the change in total
YouTube experimenting AI music with Universal
YouTube has come together with Universal Music Group and a number of artists, including singer Rosanne Cash and producer Don Was, to experiment with artificial intelligence in the music business. The Music AI Incubator that is newly formed includes partners such as the rapper Yo Gatti and the estate of singer Frank Sinatra, and it
M-Pesa goes live in Ethiopia
Safaricom’s M-Pesa mobile money service has launched in Ethiopia this week, in order to boost Kenyan telecommunications operator since it is looking to kick-start growth in one of Africa’s biggest economies. Safaricom is part owned by South Africa’s Vodacom Group, and it went live with its voice and data network in the Horn of Africa
South African Reserve Bank: Phala Phala Buffalo Deal Deemed Legally Unfulfilled
The South African Reserve Bank (SARB) determined that President Cyril Ramaphosa's Ntaba Nyoni Estate, which owns the Phala Phala game farm, was not "legally entitled" to the $580,000 paid by Sudanese businessman Hazim Mustafa for the purchase of 20 buffalo. However, because the transaction was never completed – Mustafa never received the buffalo – Ramaphosa
Investors have their eyes on Nvidia
Nvidia investors are currently expecting the chip designer to forecast quarterly revenue above estimates when it reports results on Wednesday. Their main question is, by how much? Nvidia has played a huge role in the rise of ChatGPT and other generative artificial intelligence apps, virtually all of which are powered by its graphics processors. The
Get Ready for a Tech Revolution: HONOR 90, the AI-Powered Superphone Set to Shake Up the Industry, Coming Soon!
Global technology brand HONOR has announced the upcoming launch of the HONOR 90 5G in the South African market. Featuring an impressive 200MP Main Camera with AI Vlog Master that packs a raft of AI technologies in videography, in addition to a 512GB large storage and 5000mAh battery. The HONOR 90 5G combines groundbreaking hardware and software to empower
The BPO industry is a place where women can thrive and grow their careers
One of South Africa’s biggest challenges is creating employment opportunities for people from previously disadvantaged communities, particularly its youth and women. And while our thoughts turn to the empowerment of women in August, this is a year-round challenge. Women face more challenges in securing meaningful employment The International Labour Organisation (ILO) has found that globally,
Standard Bank spent R11.2-billion on IT the first six months of 2023
Standard Bank Group has revealed that it has spent R11.2-billion in the first half of the year to 30 June 2023 on technology, including staff costs, a 12% jump over the same period a year ago, as it continues its wholesale shift from on-premises IT to the cloud. The company mentioned that it is continuing
FortiGuard Labs: Organisations detecting ransomware decline as the volume and impact of targeted attacks continue to rise
Derek Manky, Chief Security Strategist & Global VP Threat Intelligence, FortiGuard Labs “Disrupting cybercrime is a global effort that comprises strong, trusted relationships and collaboration across public and private sectors, as well as investing in AI-powered security services that can help overwhelmed security teams coordinate actionable threat intelligence in real time across their organisation. Security
X breaks images that were posted before 2014
Formerly called Twitter, X seems to have gotten rid of years’ worth of picture posted on the site before 2014, and links shared using the company’s built-in URL shortener around the time also aren’t working. The problem was revealed in a post by Tom Coates, who alerted that a famous selfie that was posted by
Eskom explores ‘Virtual wheeling’
Eskom has made an announcement that it is officially exploring a “virtual wheeling” mechanism which is set to facilitate greater electricity generation investment by the private sector and municipalities in South Africa. What wheeling is, is that it is a transaction between a private generator selling energy to a buyer through a power purchase agreement
Transnet collapse putting R200 billion industry at risk
The collapse of Transnet’s rail corridors has forced miners to transport their minerals to South Africa’s ports via trucks. However, the decline in the price of many minerals has become unviable for local miners, threatening their businesses. A lot of South African CEOs for the mining companies have bemoaned Transnet’s lacklustre performance, with Exxaro’s Nombasa
School girls at FGGC Sagamu built an AI robot called Kiki-Saggy
Girls from a secondary school, Federal Government Girls’ College (FGGC) Sagamu in Ogun State, have built an AI robot called Okikiola-Sagamu, also known as Kiki-Saggy. The project which involved 10 students and a few staff members was unveiled to the Permanent Secretary of the Federal Ministry of Education, David Adejo Andrew, in Abuja. The students
d.light secures $125m funding to meet Africa’s increasing renewable energy demands
The global provider of transformational household products and affordable finance for low-income households, d.light has gone to make an announcement that it has secured a $30 million securitization facility from the Eastern and Southern African Trade and Development Bank Group (TDB Group), with the capability to purchase up to $125 million of receivable assets. The
Absa plays pivotal role in landmark transaction aimed at improving infrastructure
Infrastructure projects in South Africa have received a significant boost through a debut R1.5bn debt issuance in the domestic market. The New Development Bank’s (“NDB”) bond issuance in South Africa is a landmark transaction for NDB and Absa is pleased form part of a transaction that will enable Rand-based funding of projects relating to infrastructure.