Amazon has acquired the AI wearables startup Bee, as confirmed by Bee co-founder Maria de Lourdes Zollo in a LinkedIn post. Although Amazon has confirmed the acquisition to TechCrunch, the deal has not yet officially closed. Bee, which raised $7 million last year, produces a Fitbit-like bracelet priced at $49.99, accompanied by a $19-per-month subscription, along with an Apple Watch app. The device records everything it hears unless manually muted, aiming to assist users by creating reminders and to-do lists through conversation analysis. Zollo previously expressed the company’s vision of creating a “cloud phone,” which would allow the personal Bee…
Author: Staff Writer
South Africans are notably less worried about money than they have been for the past two years, with levels of financial stress returning to those last experienced in 2022. Despite this, money stress remains a significant issue for many people. This is according to the fourth annual DebtBusters Money-Stress Tracker, which surveyed over 27,000 respondents during May and June. This makes it one of the largest online surveys about how financial stress impacts South Africans’ lives. Financial stress and its ripple effect The 2025 survey found that: Money-Stress Tracker collaborating psychologist Andrea Kellerman notes that even a 5% drop in stress…
Dipula Properties, formerly known as Dipula Income Fund, has unveiled a refreshed brand identity in celebration of its 20 years in the South African property sector. The new name and logo reflect the company’s evolution into a focused and future-ready real estate business. The rebranding aligns with Dipula’s strategic transition from a dual-share structure to a single-share model in 2022, streamlining its operations and clarifying its identity as a property company. CEO Izak Petersen stated that the rebrand signifies a modern and purpose-driven organisation committed to creating sustainable value. At the core of the new identity is a logo that…
The Johannesburg Stock Exchange (JSE) is exploring the possibility of implementing 24-hour trading, responding to global trends as major exchanges like the London Stock Exchange, Nasdaq, and New York Stock Exchange consider extending their trading hours. With over 25% of its listings being dual-listed, the JSE aims to stay relevant amidst these global shifts. Valdene Reddy, director of capital markets at the JSE, noted that the operational model for 24-hour trading has been validated through digital assets, particularly cryptocurrencies. This model emphasizes the need for traditional assets to adapt to meet evolving market demands. If adopted, round-the-clock trading could significantly…
With soaring unemployment rates, particularly among young people, South Africa faces a significant economic and social crisis. Teboho Makhabane, head of environmental, social and governance at Sanlam Investments, argues that while the green economy offers a pathway to job creation and climate resilience, Africa’s blue economy remains largely untapped. Makhabane highlights that Africa’s extensive oceanic and coastal resources could generate an estimated $405 billion and support 57 million jobs by 2030, according to African Union projections. As the only African nation in the G20, South Africa’s presidency of this year’s summit presents a unique opportunity to showcase the potential of…
The South African Competition Tribunal has officially approved Canal+’s takeover of MultiChoice, marking a significant step in the deal’s progression. This approval allows both parties to proceed with finalising the transaction, subject to certain public interest commitments aimed at supporting historically disadvantaged individuals and local enterprises in the audiovisual sector. The approved conditions ensure ongoing funding for local South African entertainment and sports content. Both companies are on track to meet the timeline for Canal+ to complete its mandatory offer by the long-stop date of October 8. This merger is seen as a pivotal move for MultiChoice, particularly as the…
Defy, a leading South African home appliance manufacturer, has announced an additional investment of R500 million in its local operations over the next five years. This announcement was made by CEO Mustafa Soylu during an event celebrating the company’s 120-year anniversary. Over the past 15 years, Defy has invested more than R2.6 billion in South Africa, despite the challenges of doing business in the country. Soylu highlighted the company’s commitment to job creation and problem-solving, emphasising that they continue to build and innovate even in tough times. Founded in 1905, Defy has expanded significantly and now produces over two million…
Vodacom Group has announced a robust revenue increase for the first quarter, with group revenue rising by 10.6% to R40 billion. This growth was largely driven by a strong performance in its contract segment in South Africa and significant contributions from Egypt. For the quarter ending in June, normalised revenue growth reached 12.7%, while service revenue saw an impressive increase of 13.8%, totalling R32.26 billion. South Africa’s service revenue grew by 3%, bolstered by the contract segment, while Egypt experienced a remarkable 43.8% growth in service revenue in local currency. Additionally, Vodacom’s international business saw service revenue increase by 9.7%,…
Mr Price has reported impressive sales growth in the first quarter of its financial year, successfully gaining market share despite challenges towards the end of the period. The retailer saw a 6.3% increase in retail sales, reaching R9 billion for the quarter ending June 28, while comparable store sales grew by 3%. During this period, Mr Price achieved a market share gain of 10 basis points, outperforming the overall retail sales growth in the comparable market. Over the past year, the brand captured more than R300 million in market share from its competitors, showcasing the strength of its unique fashion-value…
South Africa’s state-owned logistics utility Transnet has suffered another major blow as S&P Global downgraded its credit rating, raising alarm over the company’s deteriorating financial health, sluggish reforms, and heavy dependence on government bailouts. In its assessment, S&P warned that Transnet is burning through R13.5 billion annually in negative free cash flow, with no signs of stabilising its operations or improving performance. The agency cited weak debt-servicing capacity, underperforming rail volumes, and excessive fixed costs as key drivers of the downgrade. Crucially, S&P concluded that Transnet remains entirely reliant on state support, with no clear path to sustainability. The decision follows a R51 billion government guarantee facility granted in May 2025…