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News : Business

Coronavirus in South Africa: Restrictions ease as Covid-19 cases rise rapidly

South Africa is trying to balance dealing with the virus and supporting a damaged economy. (webremix.info)


Why Africa Urgently Needs Affordable Broadband Internet, Especially Now

The director of Technology, Climate Change and Natural Resources Management at the Economic Commission for Africa (ECA), Jean-Paul Adam, told journalists during a virtual press briefing on 10 June 2020 that Africa contributes less than 1% to the world’s digital economy, which accounts for about 15% of global GDP. He says the continent needs about […] (webremix.info)


Startups in SA Can Drive Growth in the Battered Economy

The GEM SA report – titled Igniting startups for economic growth and social change – contains the facts, data and figures that highlight trends in entrepreneurship in South Africa. The results of the study reveal the fundamentals to consider when developing an informed response aimed at securing economic recovery. Angus Bowmaker-Falconer, the co-author of the […] (webremix.info)


Opportunities & Risks From the 4th Industrial Revolution in Africa

Insurance provider and risk mitigator Aoncyber has published a new report titled “Cyber Risks in Africa.” The report focuses on the 4th Industrial Revolution (4IR) which is ushering in a new economy and a new form of globalisation, both of which demand new forms of governance to safeguard the public good. This new chapter in […] (webremix.info)


Major Petrol Price Hike Could Cripple South Africa’s Economy says Expert

The major fuel price hike scheduled for tomorrow (3 June) is going to further hurt the economy and have a major impact on deeply indebted consumers. This is after the petrol price in the country slumped to a 21-year low as South Africa descended into a nationwide lockdown. All grades of petrol will spike at […] (webremix.info)


Trust Has Eroded Within the Cybercriminal Underground Causing a Switch to Ecommerce Platforms

Popular underground goods and services / Trend Micro, May 26, 2020

New data released today indicates that trust has eroded among criminal interactions, causing a switch to ecommerce platforms and communication using Discord, which both increase user anonymization. "Determined efforts by law enforcement appear to be having an impact on the cybercrime underground," says Trend Micro Research that conducted the study. "This research helps us inform businesses early about emerging threats, such as Deepfake ransomware, AI bots, Access-as-a-Service and highly targeted SIM-swapping," says Ed Cabrera, Trend Micro's chief cybersecurity officer. A layered, risk-based response is vital for mitigating the risk posed by these and other increasingly popular threats." The study also found commoditization has driven prices down for many items such as crypting services which has dropped from US$1,000 to just $20 per month, and the price of generic botnets dropping from $200 to $5 per day. "Pricing for other items, including ransomware, Remote Access Trojans (RATs), online account credentials and spam services, remained stable, which indicates continued demand."

Other scenarios expected in the underground economy within the next three years:

  • Deepfake ransomware will be the evolution of sextortion
  • More cybercrime will hit Africa in the next three to five years
  • Cybercriminals will find a scalable business model that takes advantage of the IoT’s wide attack surface
  • Smart contracts in escrow offered in underground forums
  • SIM card hijacking will increase and target high-level executives
(webremix.info)


Vumatel and Dark Fibre Africa Prepare for Massive Demand in Data Services

Since the onset of COVID-19 and the consequential lockdown, reliable and fast Internet connectivity has become a vital requirement for businesses and individuals working and learning from home. Expansion in the digital economy and the resultant exponential growth in demand for connectivity is driving the laying of underground fibre-optic cable to feed internet-hungry homes and […] (webremix.info)


Coronavirus in Africa: 'No time for half measures in helping the economy'

Many African economies had been growing strongly before the coronavirus hit - no longer. (webremix.info)


Cell C and M4Jam Partner to Boost Gig Economy during Lockdown

Around the world, governments and corporates are attempting to put measures in place to prevent widespread unemployment and poverty from being the inevitable result of planned and regulated lockdown. And a two-week lockdown extension in South Africa means an even greater blow to the country’s already fragile economy. To aid in this effort, Cell C […] (webremix.info)


Mideast economy set for worst slump in decades: IMF

The Middle East and North Africa economy will contract by 3.3 percent this year, the biggest slump in four decades, hammered by the coronavirus and low oil prices, the IMF said Tuesday. (webremix.info)


Coronavirus: World Bank predicts sub-Saharan Africa recession

The region's economy will shrink for the first time in 25 years because of the coronavirus, the bank predicts. (webremix.info)


Why digital transformation is no longer a luxury for your business (webremix.info)


How to trade Forex in South Africa (webremix.info)


Cyberspace Security in Africa – Where Do We Stand? (webremix.info)


Global giants eye Africa for data centre expansion

The greatest commodity in the world today is information, as information leads to knowledge. Similarly, the ability to access, and distribute information have become crucial factors for the upliftment and development of any county. “Moving towards a knowledge-based economy by harnessing the power of ICTs, will greatly boost the competitiveness and financial health of our [&hellip (webremix.info)


Fintech startups left vulnerable as digital economy booms in Africa

In just two years, Africa’s fintech industry has boomed by 60% – this according to Toby Shapshak in an article for Forbes. The fintech ecosystem has grown to 491 from 301 in 2017, with $132.8 million raised in 2018 – proving the sector’s readiness given the high mobile phone penetration levels and the surge in [&hellip (webremix.info)


Blockchain marketplace believes women are the key to innovation in Crypto industry

Digital peer-to-peer crypto marketplace, Paxful believes that women play an extremely important role in the future of blockchain in Africa. In a press release issued on Friday, 30 August 2019, the Bitcoin platform expressed the desire to expand its female-powered reach throughout the continent. “Women are critical to the future of the crypto-economy and we [&hellip (webremix.info)


Sub-Saharan Africa’s mobile economy valued at more than $150 Billion in 2018

According to a new study conducted by GSMA, more than 160 million new unique mobile subscribers will be added across the region by 2025, bringing the total to 623 million. This represents around half of the region’s population, up from 456 million (44 per cent) in 2018. Subscriber additions will be concentrated in high-growth markets [&hellip (webremix.info)


Investing in fibre is key to enable the growth of Africa’s digital economy

At the end of June 2019, the International Telecoms Week facilitated a panel discussion session where members spoke about the importance of investing in fibre infrastructure within Africa, in order to facilitate the development and growth of the continent’s digital economy.  Principal Analyst at TeleGeography, Patrick Christian, evaluated the African digital economy — he noted [&hellip (webremix.info)


The West Is Shooting Itself in Its IT Foot (webremix.info)


Cannes at the Halfway Point: How Did Elton John Become King of the Fest? (webremix.info)


Paxful offers bitcoin workshops to universities in Africa

On Tuesday, 14 May 2019, Statistics South Africa that the youth unemployment rate in the country remains at an all-time high of 55.2 per cent. In a bid to help create employment, global peer-to-peer Bitcoin marketplace, Paxful is driving education around the use of bitcoin-for-business with the youth. To increase access to the bitcoin economy [&hellip (webremix.info)


Skills and tech impacting South Africa’s digital marketing performance

A lack of digital skills, technology wherewithal and data-driven marketing is holding South Africa back from meaningful transformation into a globally competitive digital economy. Johan Walters, Managing Consultant at DQ&A, drew on the company’s global experience to see how local brands could fast track their digital performance. SA lagging on Google’s Digital Maturity Framework, despite [&hellip (webremix.info)


The road to 5G and challenges ahead

The introduction of 5G will have a considerable impact on the Middle East and Africa economy. Data traffic and mobile broadband subscriptions The Middle East and Africa region has a unique position globally: While it has countries on the cusp of 5G roll-out, there are other parts of the region where the deployment of 3G [&hellip (webremix.info)


South Africa’s content and applications continue to power mobile in 2019

As South Africa continues to suffer the fallout from unreliable electricity, aggressive politicking and ratings downgrades; the country’s mobile sector continues to deliver a much-needed monetary injection for Africa’s most advanced economy. South Africa’s impressive 90 million cellular connections and stellar mobile penetration rate of 157% boosts the local economy to the tune of hundreds [&hellip (webremix.info)


South Africa election: ANC faces tough test 25 years after apartheid

Corruption, the faltering economy and land reform are key issues as the ANC battles to stay dominant. (webremix.info)


Defy drives growth with new production centre in South Africa

In a move to stimulate the South African economy, create employment and spearhead its technological advancements in-country, DEFY, a subsidiary of Arcelik Global, has invested $68 671 885,00 (R1 billion) in upgrading three local production centres to serve as their strategic manufacturing hub. Arcelik is also extending its global Research and Development network by creating [&hellip (webremix.info)


South Africa to get first Digital Economy Summit in June

On Thursday, 11 April 2019, the Minister of Telecommunications, Stella Ndabeni-Abrahams officially launched the 4IRSA Partnership and unveiled its plans towards the country’s first Digital Economy Summit at a media briefing. The summit is scheduled to be held on 27-28 June 2019 at the Wits Tshimologong Digital Innovation Hub. The Fourth Industrial Partnership for South [&hellip (webremix.info)


India's eCommerce Policy: NOT a 'Bollywood Drama' but an Adaptation of Script of Acts from Elsewhere (webremix.info)


ICT remains one of the biggest industries in South Africa

The ICT sector has one of South Africa’s biggest job markets and is also one of the biggest contributors to the economy. This is according to the State of ICT report published by the Independent Communications Authority of South Africa (ICASA). The report represents the development and performance of the telecommunications, broadcasting and postal services. [&hellip (webremix.info)


Rating working conditions in the digital economy with Fairwork

University of Oxford academics have published the world’s first ever rating system for working conditions in the digital economy with a focus on South Africa and India. The rankings look at how platforms like Uber, Taxify, and Ola perform against five standards – fair work, fair conditions, fair contracts, fair management, and fair representation. These [&hellip (webremix.info)