News : Business

Developing IT Skills in Young Africans – Immense Potential for Continent’s Economic Growth

Africa is a vibrant, diverse, and innovative continent. According to the Brookings Institution, a research think-tank based in the US, Africa is underestimated and misunderstood but holds immense potential to contribute positively to the global economy and drive prosperity for its people. As Africans, we must agree we are often misrepresented by regions that don’t […] (

Digital Transformation Crucial for the Future of Mining in South Africa

Mining has played a crucial role in South Africa’s economy for the best part of two centuries. And while it may not play as big a role as it once did, it still contributed R400-billion to GDP in 2020 and employed more than 450 000 people. But if the sector is to remain competitive at […] (

6 Key Insights SA Businesses Need to Understand About Born Digital Employees

The youth of South Africa – now more than ever – is becoming more assertive about the demands and aspirations they wish to see represented in their economy. In fact, the skills and innovation of younger workers are becoming more important than ever as South Africa moves further into its digital evolution. The sustenance of […] (

Telkom Launches Africa’s First Virtual Banking Card with Ukheshe

Telkom has launched Africa’s first Mastercard virtual card for use on WhatsApp, enabling Telkom Pay customers to make e-commerce payments. This move is expected to empower millions of South Africans – even those without a bank account – to access the digital economy and transact online. Telkom Pay Launched in 2020, Telkom Pay is a […] (

Cybersecurity and Data Protection Laws Urgently Needed Across Africa

The pandemic has driven home the high value of personal data to the global economy, while also highlighting its vulnerability to abuse and attack. In response, governments around the world have been reviewing their data privacy and protection laws and regulations, including in South Africa and Ghana. Global cybersecurity firm Kaspersky recently noted that cyberattacks […] (

Nigeria’s Mono raises millions to power the internet economy in Africa

In February, Nigerian fintech startup Mono announced its acceptance into Y Combinator and, at the time, it wanted to build the Plaid for Africa. Three months later, the startup has a different mission: to power the internet economy in Africa and has closed $2 million in seed investment towards that goal. The investment comes nine […] (

Unicaf – The Leading Online Higher Education Company in Africa

Despite the unprecedented challenges for our society and the economy globally caused by the COVID-19 pandemic, UNICAF was able to produce excellent results that are a testament to the underlying strength of UNICAF’s delivery model and innovative programmes. Through the Unicaf Scholarship Programme, thousands of students were able to study towards internationally recognised degrees at […] (

3 Things Affecting Internet Connectivity in South Africa

Loadshedding, cable theft and vandalism not only disrupts the supply of electricity and internet connectivity in households but also has a significant effect on the economy. Criminals steal infrastructure such as copper cables and electrical equipment to make easy money and with each incident, thousands of homes are left without electricity for many hours or […] (

L.A. Mayor Garcetti Downplays Threat of Another COVID-19 Surge: ‘It’s Time to Get Our Economy Started’ (Video) (

Laura Ingraham: Biden Wants to Keep Everything Closed ‘Forever’ (Video) (

Why SMEs are the Lifeblood of the South African Economy

Small and medium-sized enterprises (SMEs) represent a staggering 98% of business in South Africa today. The fact that SMEs also employ between 50 and 60% of the country’s workforce and are responsible for a quarter of the job growth in the private sector – according to McKinsey – means they truly are the backbone of […] (

Paxful and Uhuru Wallet Join Forces to Ease Money Transfers

Paxful has partnered with Uhuru Wallet to add a new payment method to its platform. This collaboration is expected to give South Africans access to the crypto economy, making it easier to make money transfers.  The cost of financial transactions in Sub-Saharan Africa can be sky-high. Fortunately, the global crypto-currency space is providing African users […] (

How SMEs Should Protect Themselves from Cybersecurity Attacks

Small and medium enterprises (SMEs) are widely acknowledged as playing a critical role in South Africa’s economy, and yet they are also potentially more at risk in terms of their ongoing survival than larger enterprises. According to a recent McKinsey report, SMEs in South Africa employ between 50 and 60% of the country’s workforce across […] (

Will Black Friday Contribute Towards Economic Stimulation in South Africa?

Despite 2020 being a very tough year for almost everyone, there’s nothing to be gained from not recognising Black Friday and the festive season at large. This is according to Matthew Leighton, spokesperson for OneDayOnly, who says that now more than ever, the economy requires stimulation and regrowth – and Black Friday is the biggest […] (

Is Tech Adoption the Key to Rebuilding the Economy?

As the initial shock of the coronavirus pandemic subsides, South Africa’s small business leaders must now pick themselves up and begin to rebuild. For many businesses, working remotely and with reduced staff has been incredibly challenging, but technology has played a fundamental role in allowing work to continue. One positive to come from this crisis […] (

South Africa's strict coronavirus lockdown credited with saving lives, but economy is suffering

South Africa’s coronavirus lockdown measures, some of the strictest in the world, have earned praise from groups including the World Health Organization [WHO] for saving lives – but at the same time, recent data could prove some analysts’ claims that its economy has been largely “destroyed.” (

More Women In Africa are Turning To Cryptos, Research Shows

The COVID-19 pandemic has brought the global economy to a standstill and put millions of people under financial stress. Understandably, people from all walks of life started looking for alternative income streams. Not only are these side jobs providing women with additional income, but they are also giving individuals an opportunity to develop new skills […] (

Coronavirus: South Africa eases lockdown as 'outbreak reaches peak'

South Africa's president says infections have peaked, as he seeks to revive the country's economy. (

The Challenge of Access to Safe Internet Pharmacies and Medicines During Pandemics (

How basketball could revive African economies

NBA Africa is looking to launch the African Basketball League in order to boost the economy. (

2020's New Internet Success (

Facebook’s Investing $57 Billion in Africa’s Economy

Facebook released findings from The Impact of Facebook’s Connectivity Initiatives in Sub-Saharan Africa, a study conducted by Analysys Mason that highlights how Facebook investments in infrastructure and connectivity across the region will deliver over $57 Billion in Economic Benefits over the next five years (2020–2024). According to The Economist Intelligence Unit – Inclusive Internet Index […] (

Is Africa Ready for Digital Enablement?

The World Economic Forum (WEF) believes that there are five hotspots that need to be targeted by the public sector in Africa and the theme that underpins them all is… digital. Digital is the infrastructure that the public sector needs to enable skills development, innovation, connectivity, economy and data-driven insights. Digital enablement is the firelighter […] (

South Africa’s GDP Falls by 2% During First Quarter of 2020

According to Statistics South Africa, the country’s economy decreased by 2.0% in the first quarter of 2020. Extending the technical recession the country found itself in in the last quarter of 2019. Stats SA’s latest quarterly GDP figures come only a week after SA’s finance minister Tito Mboweni tabled a supplementary budget in part of […] (

eCommerce Activity Reaches Record High – Offering Hope for Local Economy

eCommerce is said to be providing a ray of hope for South Africa’s local economy with transactions hitting a record high in May and June. And, while there will be some levelling off, DPO South Africa says the new love affair with digital commerce is unlikely to fade in coming months, offering some relief in […] (

Angola Committed to Meeting Energy Objectives Amid Worldwide Pandemic

Africa Oil & Power, the African Energy Chamber and the U.S-Angola Chamber of Commerce presented the webinar: Powering Forward – The Pathway to Grid Stability, Increased Capacity and a Diversified Angolan Economy, on Thursday. This webinar addressed how Angola can continue to prioritize its development of national transmission and distribution capacities in the long-term, with […] (

South Africa’s President Praises Amazon’s Job Creation Efforts

South Africa’s President, Cyril Ramaphosa has commended Amazon for its commitment to creating over 3000 jobs for locals. Ramaphosa notes, in his weekly newsletter, that this development comes at a time when many businesses are doing all they can to stay afloat in the wake of the COVID-19 pandemic and subsequent lockdown. “Our economy is […] (

Spain opens border to tourists

BARCELONA, Spain (AP) -- Spain reopened its borders to European tourists Sunday in a bid to kickstart its economy, while Brazil and South Africa struggled with rising coronavirus infections. At a campaign rally, President Donald Trump said he... (

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. (

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 […] (

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 […] (