News : Business

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 (

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 (

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 (

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 (

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 (

The West Is Shooting Itself in Its IT Foot (

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

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 (

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 (

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 (

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 (

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. (

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 (

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 (

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

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 (

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 (

Mastercard partners DPO Group to boost Pan-African merchant payments

Mastercard and Africa’s payment service provider, DPO Group have announced a collaboration to enable over 40,000 African merchants to accept Mastercard payments, connecting more people and businesses to the global economy. The collaboration will enable DPO to act as a Pan-African switch by using the Mastercard Payments Gateway Services (MPGS). DPO will now be able [&hellip (

Cisco commits to training 1 million Africans

At the Global Citizen Festival South Africa 2018, Cisco announced its commitment to training 10 million people worldwide for jobs in the digital economy, including 1 million in Africa over the next five years. The Chairman and CEO of Cisco, Chuck Robbins gathered with government officials as well as businesses in Johannesburg to share commitment [&hellip (

Power cuts hit South Africa, hurting economy

South Africa's troubled power utility on Tuesday implemented power cuts nationwide, intensifying concern about growth in one of Africa's biggest economies. (

What 2019 has in store for South Africa’s ICT space

South Africa’s 2018 Q2 and Q3 negative economic growth means that the country’s economy is in a technical recession. And while Business Services is one sphere showing growth (of 1.9%, along with Finance and Real Estate), this does not mean that the ICT sector – a major partner and supporter of business in the digital [&hellip (

The opportunity cost of doing business for SMEs in Africa

The African economy has gathered momentum over the years, with an estimated increase of 3.8% of the real output growth in 2017. As the largest economies gradually strengthen, the 2018/2019 performance should reach 4.1% according to the African Development Bank. This economic growth and sustainable development has largely been contributed by Small and Medium Enterprises [&hellip (

Local Content Craze Fuels Box Office Boom in Nigeria

Powered by growing demand for local content and a rapidly expanding theatrical sector, Nigeria is expected to hit box-office highs in 2018, with the industry on track to shatter the record it set last year. As Africa’s largest economy continues to rebound from recession, bizzers are bullish that steady gains in recent years will continue […] (

Youth employment critical for Africa’s economic growth

Despite Africa’s impressive growth in past 25 years and its entry into the digital economy, the job market continues to be in a depressed state as youth unemployment continues to rise. Africa has the largest population of young people in the world, some 200 million aged between 15 and 24, accounting for 60% of all [&hellip (

IT and the Green economy identified as future-orientated businesses in South Africa

South African SMEs are estimated to represent 90% of formal businesses, provide employment to about 60% of the labour force and contribute approximately 34% of the country’s GDP. In an effort to further grow this sector and boost a struggling economy, J.P. Morgan has been supporting a number of companies to conduct in-depth research into [&hellip (

South African Finance Minister Resigns

South Africa’s finance minister resigned after admitting links to a family at the heart of a corruption scandal, dealing a blow to President Cyril Ramaphosa’s plans to stamp out graft and rejuvenate Africa’s most-developed economy. (

The need for apparel manufacturers in Kenya and South Africa to become super vendors

After marking its presence in 15 countries, ThreadSol is all set to explore the African apparel industry to transform manufacturers to super vendors. This move comes at a time where the president of Kenya has decided to dedicate his energy in achieving the big four agenda as a way to improve the economy of Kenya and [&hellip (

South Africa needs a grounded approach for the Fourth Industrial Revolution

South Africa needs to whittle the discussion down to an understanding on the one hand of what is happening in technological changes and relate that to the structure of the South African economy The Industrial Development Advisor at the Department of Trade and Industry (the dti), Dr Nimrod Zalk says a grounded approach is needed [&hellip (

Big data ushers South Africans into financial inclusion

Financial inclusion allows lower-income South Africans to participate in the economy, and big data is providing the foundations for innovation strategies to get them there. Financial inclusion is crucial to the progress and upliftment of South African citizens. According to the Banking Association of South Africa, financial inclusion means accessing and using a broad range [&hellip (

Digital skills for a digital economy

While South Africa shows excellent potential to lead Africa in the fourth industrial revolution (Industry 4.0), private business, government and educational institutions will need to work together to upskill the nation adequately for this new, digital economy. Some of the many topics up for discussion during the World Economic Forum (WEF) Roundtable, hosted by President [&hellip (

Secure payments the way to boost flagging African GDP

African GDP (Gross Domestic Product) growth continues to fall short of the magic 5% annual figure often given as the number needed to make a substantial dent in poverty. In South Africa, again officially the continent’s biggest economy, growth went negative in the first quarter of this year. In erstwhile promising Nigeria, GDP contracted a [&hellip (