ZARU’s reserves are independently audited monthly, ensuring transparency and stability for institutional participants. (Image created using GenAI via ChatGPT) A consortium of South African financial and fintech firms has introduced ZAR Universal (ZARU), an institutional-grade stable coin pegged to the South African Rand. According to a statement, ZARU aims to modernise payments and financial infrastructure,…
South African technology entrepreneurs are among the most creative and resilient in the world, with some of the most successful homegrown start-ups having gone on to tackle international markets. Some choose to stick closely to their South African roots as they grow, never selling the businesses to external investors. Others, however, catch the eye of…
A new report highlights the low prevalence of formal AI strategies in SA hotels. (Image source: 123RF, created via GenAI) While artificial intelligence (AI) adoption has become widespread, with local enterprises leveraging AI tools, it remains in early stages across South African hotels. This is according to the inaugural Hospitality Asset Management Company (HAMAC) South…
Xneelo has begun construction on a second data centre at Samrand in Gauteng, expanding its infrastructure footprint as it prepares for growing demand for hosting and cloud services in South Africa. The new facility will mirror Xneelo’s existing Samrand data centre, while incorporating efficiency improvements to support next-generation cloud, colocation and self-managed server products. The…
National commissioner of the Department of Correctional Services, Makgothi Thobakgale. Over 8 000 cellphones were confiscated from South African prisons during the festive season. This was revealed by national commissioner of the Department of Correctional Services (DCS), Makgothi Thobakgale, yesterday when he announced the outcomes of Operation Vala 2025/26 and findings of investigations into security…
The entry of China’s Haier into South Africa looks set to sharpen competition in the local home appliance market, raising pressure on established brands such as Samsung, LG and Hisense. The Chinese multinational launched its products at an event in Sandton on Monday, with a key focus on how a global player of Haier’s size…
Local young scientists have been awarded gold and silver medals at the Initiative for Research and Innovation in STEM (IRIS) Global Symposium in India. Four local young scientists have won top honours at the Initiative for Research and Innovation in STEM (IRIS) Global Symposium, held in New Delhi, India from 27 to 31 January. The…
A partnership between four South African financial institutions has led to the launch of an “institutional-grade” stablecoin pegged to the rand. Dubbed ZAR Universal, or ZARU, the stablecoin will made available to both retail consumers and institutional investors through the alliance between cryptocurrency platform Luno, low-cost trading platform EasyEquities, fintech Lesaka Technologies and Sanlam Specialist…
Eskom is requiring homes with solar power below a certain capacity to register them. Eskom’s requirement that all solar photovoltaic (PV) systems under 100 kilovolt-amperes (kVA) must be registered will deter homeowners from choosing renewable energy. This is according to civic body the Organisation Undoing Tax Abuse (OUTA). Eskom has been encouraging those who make…
OpenAI CEO Sam Altman. Shelby Tauber/Reuters OpenAI is unsatisfied with some of Nvidia’s latest AI chips, and it has sought alternatives since last year, eight sources familiar with the matter said. The news potentially complicates the relationship between the two highest-profile players in the AI boom. The ChatGPT maker’s shift in strategy, the details of…
