Channel VAS Investments Limited (Optasia) has strengthened its growth strategy with a USD 330 million multi‑jurisdictional funding package that supports the expansion of its digital financial services platform across emerging markets. The solution was led by RMB as underwriter, mandated lead arranger and largest lender, and combines term funding and guarantee facilities designed to enable Optasia’s next phase of scaling across 38 countries. Optasia is a leading emerging markets fintech that provides airtime credit services and micro‑lending enablement using advanced algorithmic credit scoring. Its technology supports mobile network operators and financial institutions by enabling safe, small‑value lending for millions of…
Author: Staff Writer
Africa’s largest crude refining facility, the Dangote refinery in Nigeria, has substantially increased its exports of gasoline and urea to neighbouring countries grappling with severe supply disruptions triggered by the ongoing conflict in Iran, owner Aliko Dangote confirmed during a facility tour on the outskirts of Lagos. The refinery is currently operating at its maximum installed capacity of 650,000 barrels per day and has already shipped approximately 17 cargoes of gasoline to other African nations, with exports of urea fertiliser also rising sharply as buyers across the continent seek alternative supply sources. The owner assured that the facility has the…
Namibia’s economy has expanded to N$270 billion over the past five years, up from N$190 billion, reflecting steady growth supported by rising tax revenues and targeted policy measures, President Netumbo Nandi-Ndaitwah has said. Presenting the State of the Nation Address in Windhoek on Wednesday, the President said tax revenue increased from N$55 billion to N$76 billion over the period, translating into a compound growth rate of 9% and sustaining a tax-to-GDP ratio of 30.5%, among the highest on the continent. The figures point to improved domestic revenue mobilisation and fiscal performance, even as government continues to balance growth objectives with…
Finance Minister Enoch Godongwana has appointed Thabiso Lucas Thiti as the Director of the Financial Intelligence Centre (FIC) for a five-year term, effective 15 April 2026, placing a seasoned intelligence operator at the head of the country’s anti-money laundering apparatus as it enters a critical phase of regulatory enforcement. According to an official statement from the National Treasury, Thiti succeeds Advocate Pieter Smit, who had served as acting director since September 2023. Thiti assumes control of the centre following South Africa’s removal from the Financial Action Task Force’s (FATF) greylist in October 2025, an exit achieved in under three years through…
Government has unveiled sweeping reforms aimed at strengthening protection for whistleblowers, acknowledging that fear of retaliation, financial ruin and even death has deterred many from exposing corruption. Minister of Justice and Constitutional Development, Mmamaloko Kubayi, on Thursday released the Protected Disclosures Bill for public comment, describing it as a critical intervention to safeguard individuals who come forward with information on wrongdoing. Speaking at a media briefing in Pretoria, Kubayi said government convened the briefing to present the Protected Disclosures Bill to the people of South Africa. The proposed legislation arises largely from the findings of the Judicial Commission of Inquiry…
Sixty60 is the first online retailer in South Africa to introduce a Smart AI shopping assistant that is personalised to every user. Pixie – developed entirely in-house by ShopriteX – predicts what individual customers actually need, and when they need it. This marks the latest step in Sixty60’s evolution – using AI to make the app faster to use, more personalised and ultimately simpler to complete your shopping. Shopping that knows you At its core, Pixie learns from how each customer shops. Based on individual purchase habits, restocking patterns and preferences, it surfaces only relevant product recommendations, making it easier to find and reorder the things customers buy regularly. The Smart Basket feature presents product cards in a brand-new interface that lets users simply swipe to browse, swipe up to remove, or swipe down to add to their basket. This…
Cricket South Africa (CSA), the national governing body for cricket, is seeking to appoint a highly skilled and experienced Anti-Corruption Officer to strengthen its integrity and compliance function. This role is critical in safeguarding the sport by investigating corruption-related matters, managing intelligence, and ensuring adherence to both local and international anti-corruption frameworks. Key Responsibilities The successful candidate will be responsible for leading investigations into corruption and unethical conduct, including breaches of ICC Anti-Corruption Codes and related policies. The role includes collecting and analysing evidence, conducting interviews, managing cases, and recommending disciplinary actions. You will work closely with law enforcement agencies,…
First National Bank (FNB) has concluded an R800m residential development funding agreement with Beachwood Investments, a deal that marks the first Shari’ah-compliant transaction of its kind within the FirstRand group. The financing is earmarked for the Beachwood Coastal Estate, a premium beachfront development in Durban North, KwaZulu-Natal, which is poised to become one of South Africa’s most significant luxury coastal destinations. According to an official statement from the bank, the project is expected to stimulate substantial economic activity in the region, generating hundreds of construction roles and permanent jobs while revitalising the local property market . The development is situated on…
South Africa’s up-and-coming entrepreneurs once again took the spotlight in the 2025 SME Toolkit South Africa Business Plan Competition. Now in its 16th year, the competition continues to serve as a powerful platform equipping aspiring business owners with the tools, insights, and confidence needed to build sustainable enterprises. After attending a series of training workshops, participants were required to develop and submit detailed business plans for their ventures. The programme drew a strong group of finalists who showed innovation, resilience, and clear plans for growth. Ndwedwe Animal Health Care Facility founder, Sinothile Ntshangase claimed the top prize after a tough…
Eighteen years ago, South Africa’s public debt sat at 23.6% of GDP, ballooning to 78.9% at its peak. Debt-service costs consumed roughly 21 cents of every rand the government collected, making interest payments the biggest non-discretionary drain on the fiscus, exceeding what we spent on health, basic education, or social protection individually. But several things fell in South Africa’s favour in recent years. The Government of National Unity calmed the political temperature. Load shedding ended. A commodity rally lifted mining taxes. SARS collected more aggressively. By February 2026, the main budget deficit had narrowed to 4.5% of GDP, Treasury was running a…