Lesaka Southern Africa CEO Lincoln Mali About 30 people have been affected by a restructuring of Lesaka Technologies’ merchant division, and the dual-listed fintech will not rule out further job losses as it folds four acquired businesses into one. “It would be foolish to say there won’t be,” Lesaka Southern Africa CEO Lincoln Mali told…
Discovery Bank posted R370 million profit, while attracting 70% of new business from outside the Discovery Group. Discovery Bank has reported a normalised profit from operations of R370 million for the year ended 30 June 2026, marking a turnaround from the R68 million loss recorded in the previous period. The bank’s move into profitability comes…
The Huawei logo at the World Artificial Intelligence Conference in Shanghai in July 2026. Go Nakamura/Reuters China’s Huawei Technologies reported a 36% plunge in first-half net profit on Monday as soaring input costs and heavier spending on research and development outweighed revenue growth. The Shenzhen-based tech and telecoms giant said net profit for January to…
Eskom chairman Mteto Nyati Eskom more than doubled its profit in the year to 31 March 2026, reporting net profit after tax of R30.3-billion against R14-billion the year before. It is the utility’s second consecutive annual profit after eight years of losses. Revenue rose 4.1% to R354.7-billion, earnings before interest, tax, depreciation and amortisation climbed…
Xiaomi announced that the heaviest pressures on its smartphone business have likely passed, even as second-quarter earnings missed analyst projections due to elevated component prices. High memory costs severely squeezed margins across its mobile division, but management expects cost inflation to temper throughout the second half of the year as its fast-growing electric vehicle (EV)…
Tecnotree Delivers Double-Digit Profit Growth and Accelerated Deployment Momentum in H1 2026 Tecnotree, a global leader in AI-native Digital Business Support Systems (BSS) and digital platform solutions for the telecommunications industry, today announced its financial results for the first half of 2026. The company delivered growth across every principal financial measure, expanded operating margin by…
False payment declines are eroding bank revenue and customer loyalty. (Image created via ChatGPT) South African banks are losing significant amounts of interchange revenue as legitimate card transactions are increasingly incorrectly declined by outdated fraud detection systems. This is one of the key findings of a new report by payment technology provider BPC. It examines…
Britain’s BP on Tuesday reported a sharp upswing in second-quarter profit, as energy supermajors reap massive profits from higher fossil fuel prices amid hostilities between the U.S. and Iran. The oil giant posted underlying replacement cost profit, used as a proxy for net profit, of $5.7 billion for the April to June period. That comfortably…
Naspers reported an 84% increase in profitability for the year ended 31 March 2026, supported by growth across its digital platforms portfolio and continued investment in artificial intelligence. Naspers’ logo is pictured on a smartphone in this illustration taken, 4 December 2021. Reuters/Dado Ruvic/Illustration The group said ecosystem adjusted EBITDA increased to $1.3bn, while free…
The Foschini Group’s online business was one of the few bright spots in a bruising financial year, with its Bash platform driving a 49.2% surge in e-commerce sales across its South African operation even as group profit slumped and the retailer took R1-billion in write-downs against its offshore brands. TFG, the JSE-listed owner of brands…
