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Adevinta announces the sale of Gumtree SA to Ignition Group
Adevinta ASA has signed an agreement for the sale of Gumtree South Africa, to Impresa Capital, majority Shareholder of Ignition Group, one of Africa’s largest investors in technology, media, telecommunications and financial services. The transaction is subject to regulatory approval. Gumtree SA’s operations were classified as discontinued operations and the impact on the Group’s financials is
South Africa’s first major solar and battery power project
Scatec ASA, a Norwegian company has stated construction for a solar and battery power project which will supply 150 megawatts (MW) of South Africa’s grid The project will have a total solar power capacity of 540 MW and battery storage capacity of 1140 MWh (225MW) The company is building 3 projects in the Kenhardt Region
Economists predict big interest rates hikes
The Reserve Bank is expected to hike interest rates for the fifth consecutive time on Thursday afternoon. Consumer inflation has hit a 13-year high and will fuel the Monetary Policy Committee's rate decision. The Monetary Policy Committee (MPC) wants to keep inflation expectations close to 4.5%, but the risk to economic growth is increasing. This
South Africa’s Chido Dzinotyiwei Places In The Top Six At This Year’s EO Global Student Entrepreneur Awards
Johannesburg, 21 July 2022 EO South Africa is proud to announce that Chido Dzinotyiwei, the organisation’s representative for the EO Global Student Entrepreneur Awards (GSEA) 2022, finished in the Top 6 during the final round of the competition. Out of the many candidates from the more than 25 South African tertiary institutions, who submitted their businesses this year, Chido went on to win the local division
Microsoft builds Facebook-like social platform into Teams
Microsoft has launched Viva Engage, a Facebook-like application, inside Microsoft Teams. “Built on the foundation of Yammer, Viva Engage brings people together across the organisation to connect with leaders and coworkers, find answers to questions, share their unique story, and find belonging at work,” Microsoft said. Microsoft bought Yammer in 2012 for R10.2 billion and included it
Eskom’s R938 solar power tariff could face some serious legal pushback
South African trade union Solidarity has said it would implement legal proceedings against Eskom if the National Energy Regulator of South Africa (Nersa) approves its R938 tariff for solar power users. The union described Eskom’s application — which it has submitted to Nersa — as absurd, irrational, and unlawful. The power utility’s proposal could see
Fake employers use job seekers ID number for UIF
According to UIF, fake employers claim the interests of Covid-19 TERS and, in some cases, the interests of unemployment. This is after people applied for the R350 Social Relief Distress Grant (SRD) from the South Africa Social Security (SASSA) where the system detected that the person was registered for UIF. “These are mainly learners/students that
Africa tipped to exceed 10 Million SvoD subscribers By 2027
The SvoD industry in Africa is enjoying steady growth. A recent survey found that Netflix, which is the most popular SvoD platform in Africa, is currently edging towards 3.5 million subscribers, and this number is expected to double by 2027. Showmax, which is another SvoD platform operating in Africa, is also making great strides. The
Huawei Launches a Cloud Native Core Banking Solution
At the Huawei Intelligent Finance Summit 2022, Huawei Cloud launched its Cloud Native Core Banking solution which is designed to serve as a foundation for agile innovation in both the traditional and new digital banking industries. Currently, global financial institutions are rapidly accelerating their own digital transformation plans. This is creating many new opportunities for
Rheinmetall turns to e-cars in South Africa, aims to cut down carbon emissions
In their quest to cut down on carbon dioxide emissions, Rheinmetall, has quickly moved to introduce electric vehicles and e-scooters in South Africa. The German-based automotive and arms manufacturer is a subsidiary of Rheinmetall Denel Munition and has also unveiled e-bikes. In a statement published on the company website, CEO of RDM Jan Patrick Helmsen,
Imperial to acquire 100% stake in J&J Group
Imperial, owned by DP World, has obtained approval to acquire 100% of the J&J Group – the largest integrated logistics operator on Mozambique’s Beira corridor. The Imperial transaction relating to the acquisition of the first tranche of shares (51%) of the J&J Group, which was announced on July 29 last year, was closed on July
EU citrus regulations could hit South Africa with 140 000 jobs 
In the wake of a move by the European Union to regulate the citrus industry, the Western Cape MEC for Agriculture Ivan Meyer has called for government intervention. Meyer has written a letter to Land Reform and Rural Development Minister Thoko Didiza urging her to swiftly intervene and save the industry. The regulations might put
The new Ericsson Digital Experience outlines likely major trends towards 2030
What can be achieved in just eight years? A new Ericsson digital experience addresses how 5G and next-generation connectivity could make things that may be beyond our imagination today into everyday realities by 2030. Ericsson Imagine Possible Perspectives identifies five key areas likely to impact the way we work and live through limitless connectivity: hybrid learning, digital
United Bank for Africa (UBA) Group announce expansion to the EMEA
The United Bank for Africa (UBA), Africa’s global bank has been in operation for over seven decades. Today, the group is present in 20 African countries, the United Kingdom, the United States of America and France. The bank has extended its operations to the United Arab Emirates with the official launch of its new branch
Disruption and what ERP can do for your business today
Manufacturers have to quickly realise that to overcome supply chain disruptions, their business operations need to consider a different approach to ensure supply-chain resiliency. Just recently, South African manufacturers and distributors have been tested once again, with some of the worst loadshedding since 2019. Recently, the seasonally adjusted Absa Purchasing Managers’ Index (PMI), which is a key indicator
Uganda launches Business Internet for SMEs
MTN Uganda recently launched a dedicated Internet product for businesses through a campaign themed “Get more access to your customer with MTN business internet”. This fiber internet service dubbed MTN Business Internet is specifically tailored to meet the internet needs of small to medium business owners, offering them unlimited fast and reliable internet at a
South Africa to introduce new regulations on cryptocurrency
The South African Reserve Bank plans to introduce new regulations on cryptocurrency transactions in the country within the next 12-18 months, Kuben Naidoo said. Naidoo said in PSG's latest ThinkBig webinar that South Africa is on par with other countries in terms of cryptocurrency regulation, but the first hype surrounding digital currencies and technology has
South Africa has competitive advantages to develop green hydrogen, says Sasol
South Africa has quite a few competitive advantages that will serve it well in entering the green hydrogen manufacturing space, Sasol low-carbon energy solutions business developer Zanele Salman has said. She spoke during a Saldanha Bay Innovation Campus webinar, the third in a series that focuses on the energy transition landscape, on July 14. These
IFC and Orange Bank Africa come together to strengthen the Mobile Money Ecosystem
To support the growth of digital finance services in West Africa, IFC announced a partnership with Orange Bank Africa (OBA) to increase access to finance for agents and merchants operating in the mobile money ecosystem. Under the partnership, IFC will provide advisory services to Orange Bank Africa to help the mobile bank develop and test
South African businesses tap into Metaverse
The next evolution of the Internet is emerging and, while expected to develop slowly in South Africa, the so-called metaverse could provide business with a new avenue of growth. The metaverse is commonly described as shared, virtual three-dimensional (3D) worlds, representing the convergence of the physical and digital realms, and combining commerce and blockchain and