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All posts by Jenna Deeley-Smith
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July 27, 2017

Absa sets aside R10.5 million for SA township economy

Absa Bank says it has extended a R3.5 million facility to eSpaza Sum Holdings to help the company modernise 22 spaza shops in Mamelodi and Pretoria West.

An additional R7 million will be extended to help uplift Mpumalanga and Limpopo spaza shops as the financial year progresses, taking the bank’s total contribution towards the transformation of township economies in the region to R10.5 million.

“Absa’s support will not only see the sustainable establishment of spaza shops but it is envisaged to create jobs and help these spaza shop’s net triple times more profit as they have in the past. The project has already seen transformed spaza’s record a 300% increase in airtime [...]

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July 27, 2017

Facebook acquires content rights startup Source3

Social network Facebook has acquired US-based startup Source3 – a platform for end-to-end management of intellectual property in user-generated content (UGC) – in order to help it tackle piracy issues.

Recode.net reported that Facebook will acquire the group’s technology and some of the team behind Source3 in order to help it clamp down on users who share pirated videos and other content without permission.

“We’re excited to work with the Source3 team and learn from the expertise they’ve built in intellectual property, trademarks and copyright,” a Facebook spokesperson said in a statement shared with Recode. “As always, we are focused on ensuring we serve our partners [...]

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July 25, 2017

Why international investors are upbeat about SA tech companies

Law firm Baker McKenzie has released its latest quarterly Cross-border M&A Index, showing a massive drop in the number of inbound M&A deals across Africa and South Africa – but there’s a positive spin for the SA tech sector.

According to the report, there were 17 inbound M&A deals in Africa in the second quarter (Q2) of 2017 – a 48% drop from 33 deals in Q2 2016.

The total deal value for inbound deals amounted to US$780 million, decreasing by 83% year-on-year and 88% on a quarter-by-quarter basis.

According to Morne van der Merwe, managing partner of Baker McKenzie, almost half the continent’s M&A activity flows through South Africa, meaning that [...]

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July 25, 2017

Lanseria airport launches self-service technology to allow passengers to check in their own luggage

Lanseria International Airport says it is the first airport in Africa to introduce self-service technology for passenger and airline convenience.

The airport has invested in SITA’s Scan & Fly drop units and airport iValidate systems to offer its customers greater efficiency and more convenience when flying from the airport in north Johannesburg.

The new technologies will enable passengers to check in online, or via their mobile devices, tag and drop their bags in less than a minute before proceeding directly to their boarding gate, it said.

Traditional check-in counters will convert into intuitive technology equipment that will allow passengers a simpler, [...]

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