Author: Chris Anu
Fred Zhou, CEO of Honor South Africa. (Photograph by Lesley Moyo) Honor wants to move from being a handset maker to becoming a leading AI-enabled device business. According to Fred Zhou, CEO of HONOR South Africa, the start of this journey is all about delivering intelligent AI handsets. “For so many, these mobile devices are a gateway into the world of AI,” he said. But a phone is not enough. Behind these devices, there needs to be intelligent, open ecosystems built in collaboration with players across the industry. “To achieve our vision of becoming an AI leader in this space,…
South Africa on Friday secured its first credit rating upgrade in nearly 20 years after S&P Global raised the country’s foreign-currency long-term sovereign rating to “BB” from “BB-“, citing stronger growth prospects, an improving fiscal outlook and reduced contingent liabilities following better performance at state power utility Eskom. National treasury has worked to arrest rising debt and restore fiscal credibility to put the country back on a growth path. A recent mid-term budget review showed debt to GDP stabilising at 77.9% this financial year and the budget deficit narrowing to 4.7% of GDP in 2025/2026 from 4.8% in the May…
The rise of genAI tools has introduced new risks. AI adoption is exploding across Africa, but without proper readiness assessments and controlled adoption, it can present new risks to organisations.This is according to Kejendree Pillay, Microsoft Portfolio Manager at First Distribution, one of the leading Microsoft CSP distribution companies across Africa.Speaking during a webinar presented by First Distribution in partnership with ITWeb, Pillay said: “AI is embedded in our daily workflows, helping organisations make decisions faster and be more productive.”However, the rise of generative AI tools has introduced new risks, and organisations are now faced with the critical question of…
Apple CEO Tim Cook Apple is stepping up its succession planning efforts as it prepares for Tim Cook to step down as chief executive of the tech giant as soon as next year, the Financial Times reported on Friday. John Ternus, Apple’s senior vice president of hardware engineering, is widely seen as Cook’s most likely successor, the FT reported (paywall), citing several people familiar with discussions. Apple did not immediately respond to a request for comment. The newspaper quoted people familiar with discussions inside the iPhone maker as saying its board and senior executives had recently intensified preparations for Cook…
Deven Moodley, executive head: VAS, FS and mobile at Pick n Pay. Pick n Pay customers collectively spent a monthly average of R1.4 million in crypto-currency over the past 12 months, across its retail stores nationwide.According to the retail giant, Bitcoin payments are following mainstream retail trends, as more crypto holders are now using their Bitcoin for everyday purchases rather than just holding it as an investment.The retailer says it has witnessed growing Bitcoin spend in clothing, data, airtime, fuel and express, with an average transaction value of around R422. See also After completing a pilot that allowed customers to…
Gaby Magomola Digital bank Revolut has appointed former African Bank CEO Gaby Magomola as chairman of its South African subsidiary, all while the digital challenger pursues a formal banking licence with local regulators. In a statement on Friday, Revolut said it has submitted its “section 12” application to the Prudential Authority of the Reserve Bank – the first step in acquiring a formal banking licence under South African law – and will lean on Magomola’s four decades of banking experience as it readies its local launch. “Magomola, one of South Africa’s most distinguished banking pioneers, brings decades of experience in…
Social media platforms have enormous power to direct traffic based on their algorithms. South Africa’s Competition Commission has ordered social media platforms YouTube, Meta, TikTok and X to significantly invest in supporting South Africa’s media sector, to restore fairness, transparency and sustainability in the media ecosystem.This is one of several key remedies proposed by the Competition Commission’s Media and Digital Platforms Market Inquiry final report, which was released yesterday.The commission this week presented its findings, recommendations and proposed remedial actions from the inquiry, which officially commenced in May 2021.This follows 24 months of extensive evidence-gathering, public and in-camera hearings, expert…
Businesses that are required by law to collect know-your-customer (KYC) information are set to benefit from improved speed and reliability as digital identity systems become more commonplace in Africa. The banking, insurance and automotive sales sectors are among the key beneficiaries, though areas such as driver’s licence issuance, qualifications verification and criminal record checks are set to benefit, too. But for Africa to realise the potential digital systems offer to travel, trade and economic growth, unified standards must be developed to ensure different governments can accommodate any compliant digital ID, regardless of its origin. Some countries don’t even have an…
The SABC introduced its own freemium-based, over-the-top platform in 2022. The South African Broadcasting Corporation’s (SABC’s) goal is to generate R200 million annually through monetisation of its video streaming platform SABC+, says chief operating officer Lungile Binza.However, the public broadcaster is still far from achieving that target, the COO acknowledged.Binza spoke yesterday at Africa Tech Festival 2025 in Cape Town, where he detailed the SABC’s digital presence and how it is charting its growth trajectory amid the streaming wars.According to Binza, most of the money in public and commercial broadcasting still goes to the largest companies in the world, such…
Discovery Bank CEO Hylton Kallner Discovery Bank’s Thursday announcement of a deal with cryptocurrency platform Luno, which will allow the former’s customers to trade cryptocurrencies online, is yet another sign that cryptocurrencies are becoming mainstream in South Africa. The move follows another deal announced in October between Scan to Pay and MoneyBadger that allows users of major cryptocurrency exchanges – including Binance, Luno, Blink and VALR – to pay merchants at over 650 000 stores nationwide using bitcoin, stablecoins and other digital assets without having to first convert them into rand. “We are seeing a momentous shift in cryptocurrency adoption locally…