News : Business

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 […] (

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 […] (

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 […] (

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

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 […] (

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. (

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 […] (

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. (

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. (

Why digital transformation is no longer a luxury for your business (

How to trade Forex in South Africa (

Cyberspace Security in Africa – Where Do We Stand? (