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South Africans Still Prefer Cash Despite Growth in Banking Sector
South Africa is one of the countries with a growing banking sector. The country is the largest in the African continent. In 2021, the combined 1 capital of the sector reached over $34.4 billion. With the top five banks in the country were amongst the ten largest African banks in terms of asset value in
Artificial Intelligence Boosts AMD With High Expectations
The second largest maker of PC processors AMD revenue tops $5.4 billion for the second quarter of 2023, slightly higher than analysts predicted and its own guidance for the quarter. The company’s revenue went down by 18% compared to last year’s send quarter revenue. The company said it continues to ride the wave of artificial
Google’s business model distorts competition, CompCom finds
The Competition Commission (CompCom) has found out that Google’s dominance and business model distorts platform competition, since small and new platforms struggle for visibility and customer acquisition. In its recently published Online Intermediation Platforms Market Inquiry report, the competition watchdog said that in order to address this distortion, the remedial actions have focused on improving
Investec Property Fund set to change name
Investec Property Fund (IPF) has revealed that is working on changing its name and rebranding as ‘Burstone’. Recently, the company made an announcement that the name change is subject to approval by shareholders at a general meeting set to be held at the end of August. This is happening after a successful internalisation of the
Private Property and Property24 in trouble with Competition Commission
The Competition Commission came to a revelation that Private Property and Property24 impede competition and imposed strict new conditions on these property classifieds sites. These restrictions were a part of the Competition Commission’s Online Intermediation Platforms Market Inquiry Report that was released on Monday. It said the two companies are the dominant platforms in South
HUAWEI WATCH GT 3 SE unveiled: A strong entry to a science-based sport and health management experience
HUAWEI Consumer Business Group (BG) has unveiled the latest smartwatch in the HUAWEI WATCH series, the HUAWEI WATCH GT 3 SE. Delivering a cutting-edge entry-level smartwatch, the HUAWEI WATCH GT 3 SE embodies the needs of urban explorers, sport, health, and fitness enthusiasts. The revolutionary HUAWEI WATCH GT 3 SE is a true game-changer in
Rain retrenching employees
The Mobile network operator Rain, has reportedly retrenched dozens of employees as part of the transition of its Johannesburg offices from a headquarters into a regional branch, even though the company had previously promised that the change would not result in job losses. A close source with knowledge of the matter alleged that the company
Enter Your App into the HUAWEI AppGallery Category of 12th MTN Business App of the Year Awards
HUAWEI proudly continues its role as a category sponsor for the 2023 MTN Business App of the Year Awards, marking the fourth consecutive year of their valued partnership. This esteemed annual event celebrates remarkable app development talent throughout Africa, while also propelling the advancement of mobile digital innovations. The awards serve as a tribute to
South Africa and Botswana looking for funding for mega railway project
State-owned rail companies from the two countries, Botswana and South Africa are currently looking for funding for a R4.1 billion ($230 million) railway line between the two countries to transport commodities, including coal. The Mmamabula-Lephalale link will be running 113 kilometres and have a capacity of 24 million tonnes a year. It will be connecting
Powered by Microsoft Teams, Vodacom Business launches Vodacom Operator Connect
Vodacom Business is officially a certified Microsoft Teams Operator Connect partner in South Africa. What this does, is that allows the brand to launch Vodacom Operator Connect, which offers a more programmatic approach to provisioning, managing, supporting and billing Microsoft Teams services. Essentially, the service enables allows enterprises to use their chosen telecommunications provider to
PayShap nearing one million transactions
South Africa’s first interbank, low-value real-time digital payments service, PayShap has shown a robust market uptake since its launch in March this year. The PayShap data shows that over 800 000 transactions have been recorded with a settlement value in excess of R660 million since the PayShap launch. “In the first few months of
Ghana’s finance ministry cut its 2023 growth forecast to 1.5% from 2.8%
Ghana: Finance Minister Ofori-Atta yesterday presented the government’s Mid-Year Fiscal Policy Review to parliament. He disclosed that the overall budget deficit for 2022 (on a commitment basis) was 11.8% of GDP against a revised target of 4.3%. The primary budget deficit stood at 3.2% of GDP after previously expecting a surplus of 0.4%. For 2023, the
Mobile Operators Threatened by eSims?
Embedded Sims (eSims) is currently increasing with customers moving away from regular sim cards. According to Independent mobile network analytics providers Opensignal, users who use eSim-capable devices are more likely to switch networks. Brazil, Indonesia, Singapore, South Korea, Taiwan, the UK and the US – revealed marked increases in operator switching by eSim users compared
Musk’s X Formerly Known As Twitter Sues Nonprofit That Fight Hate Speech
Elon Musk's social media platform X formerly known as Twitter has sued a nonprofit organisation that fights hate speech and disinformation. X accused the organisation of asserting false claims and encouraging advertisers to pause investment on the platform. According to a report by US media, the social media platform sent a letter to the Center
Independent Transmission Operator Issued With License To Operate
The Energy Regulator has approved that the Transmission Company of South Africa (SOC) Limited (‘NTC’) be issued with a licence to operate a transmission system in South Africa. “This is a milestone decision by the Energy Regulator and will immensely contribute in Eskom’s unbundling trajectory,” National Energy Regulator of South Africa (NERSA) Chairperson, Thembani Bukula,
PayU To Sell Its Payment Organisation For R11 Billion
PayU an online payment specialist has reached an agreement with Rapyd a leading Fintech-as-a-Service provider to acquire PayU’s Global Payment Organisation (GPO) for $610 million (R11 Billion), according to Prosus announcement on Tuesday. The transaction exclude PayU’s Indian, Turkish and Southeast Asian businesses. This will enable PayU to focus on India's fintech opportunity, serving more
REdimension Raises R200 Million in Proptech Fund
REdimesnion Capital an investment firm has announced its inaugural fund. The company raised more than R200 million from founding investors including Investec Property Fund, Growthpont Properties and Rand Merchant Bank. The firm aims to focus on investing in early-stage technology companies that deliver demonstrable improvements in the way property is developed and managed. The fund
The global cyber security skills gap creates a golden opportunity for young South Africans
Imagine a career that offers you high earnings, global opportunities, and constant challenges. A career that is in high demand and will never go out of style. A career that can make a difference by protecting people and businesses from cyber threats. Regional Director for Southern Africa at Fortinet, Doros Hadjizenonos, believes that young South
SA Watchdog Demands Fairness for Online Platforms"
The South African Competition Commission recently took action against several online platforms, with the goal of encouraging competition and assisting smaller businesses. Google, Takealot, Uber Eats, and Apple are among the companies targeted, each of which is subject to specific demands in order to encourage greater competition from smaller entities. One of the major directives
South Africa Imposes 5-Year Anti-Dumping Duties on Chinese Tyres to Shield Local Industry
Anti-dumping duties on imported Chinese tyres have been imposed on the South African tyre industry for the next five years. Following an investigation by the International Trade Administration Commission (Itac), Ebrahim Patel, Minister of Trade, Industry, and Competition, announced that new pneumatic tyres for cars, buses, and lorries imported from China will face anti-dumping duties