Local start-ups continue to encounter hindrances in accessing equity investment. Funding limitations within South Africa’s venture capital (VC) ecosystem have once again been thrust into the spotlight, with an executive openly stating it is undercapitalised. Patrick Krappie, executive: innovation enabling at the Technology Innovation Agency (TIA), made the comments at a recent roundtable engagement it…
Six people, including a well-known rhinocerous breeder, have been charged in South Africa in connection to an international rhino horn trafficking network after a seven-year investigation, officials announced Tuesday. The suspects are accused of smuggling 964 horns worth $14.1 million to illegal markets in Southeast Asia. They face charges of fraud, theft and violating a…
Co-hosts Uganda fought back from 3-1 down to salvage a 3-3 draw with South Africa on Monday to qualify from Group C for their first ever African Nations Championship quarter-finals. At the Nyayo National Stadium in Nairobi, the 2023 losing finalists Algeria were held to a goalless draw by a 10-man Niger but the result…
Toyota plans to introduce three new all-electric models in South Africa by early 2026. This move will mark the company’s entry into the country’s nascent EV market, where it will face competition from established European brands like Volvo and a growing number of Chinese automakers. Read: Apple reportedly pivoting AI to new smart home devices…
The author, Jessica Gbedemah When Elon Musk claimed earlier this year that Starlink was being blocked in South Africa because of black economic empowerment rules, it ignited a debate that went far beyond satellite internet. Communications regulator Icasa quickly countered that no application for a licence had been received. The clash has left South Africa…
Shares of MTN Group Ltd. experienced a steep decline in Johannesburg on Monday, falling by as much as 10%—the largest drop since March 2023. The plunge followed the announcement that the company’s South African revenue had fallen, leading to a management shake-up. Investors were also concerned about a U.S. Department of Justice probe into the…
Just when South Africa looked destined for the last eight, Uganda staged a stirring fightback Uganda sealed a historic spot in the quarter-finals of the TotalEnergies African Nations Championship (CHAN) PAMOJA 2024 after a gripping 3-3 draw with South Africa in Kampala on Monday night. Algeria also pulled through into the last eight despite being…
MTN South Africa has revised its mid-term service revenue guidance downwards as the operator faces stiffer competition in its home market, despite a positive upswing in its operations in the rest of Africa. The business “continues to navigate an environment characterised by elevated competitive intensity and ongoing pressure on consumers”, MTN Group said in its…
Incoming MTN South Africa CEO Ferdi Moolman Charles Molapisi is stepping down as CEO of MTN South Africa, and is being replaced in the role by Ferdi Moolman, who was a key driver behind the telecommunications group’s growth in Nigeria, where he was CEO between 2016 and 2021. At the same time, Yolanda Cuba, currently…
Toyota plans to introduce three fully electric models in South Africa in 2026, a senior executive said on Thursday, entering a nascent EV market where Chinese rivals such as BYD are already competing with European car makers. Volvo currently dominates EV sales in South Africa, followed by BMW and Mercedes-Benz, but Chinese EV makers are…
