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The Role of Fintech in Driving Financial Inclusion and Payment Modernization in South Africa
According to a McKinsey & Company study, digital financial services have the potential to provide access to financial services for 1.6 billion people in emerging economies by 2025. The study also discovered that these developments are expected to boost emerging economies' collective annual GDP (GDP) by US$3.7 trillion, or 6%, by 2025, while creating up
Production Issues and Weaker Demand Contribute to Sappi's 63% Profit Decline in Q2
Sappi, the paper and packaging company, reported a nearly two-thirds drop in profits during the second quarter due to production issues in South Africa and lower demand for key products. Sales of graphic papers and packaging fell by 42% and 29%, respectively, as heavy rains and challenges associated with the recent containerboard machine at its
Old Mutual Insure Launches Motor Enthusiast Competition to Promote Safer Driving
Old Mutual Insure has launched a new public competition, Motor Enthusiast, to encourage South African motorists to drive safely. The competition, which is part of the Car of the Year (COTY) competition, gives motor enthusiasts the chance to win one of five defensive driving vouchers. MasterDrive, a leading driver training organisation, is providing the training.
MTN Group in Talks to Sell West African Assets to Axian Group
MTN Group, Africa's largest mobile operator, is reportedly in advanced talks with Axian Group to sell some of its West African markets. MTN's assets in Liberia, Guinea-Bissau, and Guinea-Conakry would be divested as part of the potential deal. According to insiders, the two companies are negotiating prices for the assets, but no agreement has been
Audi Centre Arcadia Wins Dealer of the Year Award for Fifth Year in a Row
Audi Centre Arcadia has won the Dealer of the Year award at the Audi Vorsprung Awards for five years in a row. Phillip Clough, the award-winning divisional managing executive, believes that the team's success can be attributed to their meticulous attention to detail, with the focus always on the criteria and the knowledge that they
Huawei Launches a New Line-up of Flagship Products at HUAWEI P60 Series and Flagship Product Launch Event in MEA region
Huawei Consumer BG held the HUAWEI P60 Series and Flagship Product Launch Event in Dubai, showcasing a new lineup of flagship devices, including the HUAWEI P60 Pro, HUAWEI Mate X3, HUAWEI FreeBuds 5, HUAWEI WATCH Ultimate, HUAWEI MatePad 11-inch 2023, as well as HUAWEI MateBook X Pro and HUAWEI MateBook D 14. “We have showcased
Trusting Your Investment Manager: Key to Avoiding Permanent Capital Destruction
Most investors find investing in the stock market to be a daunting task. However, trusting your investment manager to invest your assets prudently is critical, and it's not always about timing the market, but rather about time in the market. Unfortunately, many investors make long-term financial planning mistakes by selling out of underperforming investments and
Steinhoff Shareholders to Receive Settlement Payments for Accounting Scandal Losses
Retail shareholders of Steinhoff International, who suffered significant losses as a result of the company's accounting scandal, will begin receiving settlement payments on Wednesday. On May 10th, the Stichting Steinhoff Recovery Foundation (SRF), an independent organisation established to assess claims, will begin distributing cash recoveries to valid individual and institutional market purchase claimants. The SRF
South African Airways Announces Fleet Expansion for Relaunch of International Routes
South African Airways (SAA) has received approval to add six new Airbus aircraft to its fleet, including one A330 and five A320s. This growth will pave the way for the reintroduction of international routes as well as an increase in seat capacity for regional and domestic destinations. The new planes are expected to arrive before
BETI increased somewhat in April signalling resilience amid a challenging economic environment
After two consecutive monthly declines, the BankservAfrica Economic Transactions Index (BETI) increased in April 2023 to an index level of 132.6, tracing back to the January 2023 level (132.9), but still notably lower than a year earlier. On an annual basis, the BETI declined by 3.5% vs a revised decline of 3.8% in March. While
Resilient economy leads to a slight improvement for the BETI in April
After two consecutive months of declines, the BankservAfrica Economic Transactions Index (BETI) increased in April 2023. Although encouraging, it is unlikely that this is the start of a notable recovery phase in the economy as the index deteriorated on an annual and quarterly basis. “The BETI reached an index level of 132.6 in April 2023,
Department of Employment and Labour weighs in on working hours in South Africa
The COVID-19 pandemic has changed the way we work, with many employees working from home and a hybrid model combining in-person and remote work becoming the new norm. With this shift, there has been much discussion about reducing working hours and implementing a four-day workweek. While this may appear to be a novel concept, it
Lenovo’s Latest Workstations Push the Limits of Creative Productivity in this New Hybrid Work World
Today, Lenovo™ unveiled its latest ThinkStation and ThinkPad workstation solutions designed to provide the high levels of power and performance needed to run sophisticated workloads with ISV certifications1. Lenovo workstations are engineered to push the boundaries of performance that help unleash users’ potential while maintaining the reliability, usability and configurability needed across a variety of industries. End
PayShap: Strong Adoption and Potential Barriers in South Africa
According to the four banks that currently facilitate the service, PayShap, a new payment service launched in South Africa on March 13, has been widely adopted by customers. Customers can use their phone numbers as references to make real-time bank-to-bank payments, and the transactions take less than 10 seconds to complete, making payment receipt verifiable
Qatar Public Prosecution to Adopt AI to Speed Up Justice Delivery
Public Prosecution in the State of Qatar has announced the adoption of artificial intelligence (AI) techniques to enable a speedy justice system of converting words into text. Qatar's adoption of artificial intelligence is in line with its National Vision 2030. According to The Peninsula Qatar report, the public prosecution also clarified that these AI techniques
Google and Cochlear to Use AI to Build Personalised Hearing Devices
Google partnered with various healthcare services and technology organisations including Cochlear, the manufacturer of cochlear implants and Australian Hearing Hub members, the National Acoustic Laboratories (NAL), Macquarie University, the Shepherd Centre, and NeXtSense. The Organisations and healthcare services will be using artificial intelligence (AI) to create personalised hearing devices that will cater to induvial listening
LinkedIn to Fire 716 Employees
The Microsoft-owned company, LinkedIn is set to layoff 716 employees as they close down its China-focused job application. This layoffs comes after the global economic outlooked weakened and a drop on demand. LinkedIn has joined major technology companies who participated in layoffs, this includes Microsoft, Even though LinkedIn increased its revenue every quarter for the
Chery Omoda 5: A Bold New Contender in Malaysia's SUV Market
The Malaysian automobile market is about to become even more crowded as Chinese automakers prepare to compete with popular B-segment SUVs such as the Honda HR-V, Toyota Corolla Cross, and Proton X50. Chinese automakers have set their sights on the Malaysian market and are ready to bring in SUVs with modern designs, specs, and affordable
Gold as Safe Haven Amidst Uncertain Economic and Geopolitical Times
South African investors who have invested in gold funds, whether through physical gold or gold shares, have reaped substantial returns in recent years. The gold price has risen by 55% since the beginning of 2019, from around $1,300 per ounce to over $2,000 per ounce by the middle of 2020. Since then, it has fluctuated
South African companies among Africa's fastest-growing
South Africa has made a strong showing in the annual Financial Times/Statista 2023 ranking of Africa's 100 fastest-growing companies, with 33 companies making the list. Deimos Cloud, a provider of cloud and software services, was the highest-ranked South African company, ranking sixth overall. The ranking, conducted for the second time this year, recognises companies that