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NSFAS financial aid application deadline extended

Location: News

NSFAS financial aid application deadline extended

The National Student Financial Aid Scheme (NSFAS) board has extended the deadline for applications for student financial aid to 15 February 2023.

The decision was taken during a meeting between the NSFAS board and the South African Union of Students (SAUS).

The NSFAS board, led by Acting Board Chairperson Professor Laurens Van Staden, met with the South African Union of Students (SAUS) Executive, led by President Yandisa Ndzoyiya, to discuss NSFAS’s state of readiness for the beginning of the academic year, where the parties agreed on the extension of the 2024 bursary application period. 

The meeting also agreed that the NSFAS Loan Scheme will be opened on 2 February 2024 and close on 15 February 2024. 

The new Comprehensive Student Funding Model aims to support students including those currently not supported by NSFAS bursary and funding policy. 

This category includes students who come from families who have a total income of more than R350 000, but not more than R600 000 per annum.

In a joint statement issued on Thursday, the parties agreed that students who have already applied for the NSFAS bursary scheme need not submit a new application for the student loan scheme. 

“All students who did not meet the bursary scheme eligibility criteria, however, meet the loan scheme eligibility criteria, will be automatically offered a loan for their consideration,” the statement said. 

Prospective loan scheme applicants can apply through an online application form, where they create a profile, apply, and submit the application. 

The application form can be accessed on the NSFAS website on www.nsfas.org.za.

In order to qualify for the loan, students should meet the following criteria:
• Students whose annual household income is between R350 000-R600 000;
• TVET and university (public) students;
• Undergraduate or postgraduate students;
• 70% Science, technology, engineering and mathematics (STEM) programmes (which
may be adjusted to include commercial programmes that are in demand in the labour
market or entrepreneurial programmes);
• 30% Social Sciences programmes; and
• Students willing to sign a loan agreement.

NSFAS reminded all applicants for both the bursary scheme and the loan scheme to submit a consent form to verify relevant information from third parties. 

“The information is required to verify the employment status and income level of the parents, guardians, or spouses of the applicant. It is mandatory for applicants to download and upload a completed Consent form on the NSFAS website, portal, or mobile app,” Van Staden said.

1 745 applications received

Meanwhile, NSFAS has received 1 745 226 applications, as of 30 January 2024.

The scheme said of the 1 745 226 applications, 940 682 are provisionally funded, 269 915 are awaiting evaluations, while 48 643 have been withdrawn by the student;  232 559 are in in progress, and 136 531 applications on the not-started status, as applicants only created profiles and did not submit applications.

“NSFAS has rejected 102 201 applications;1 093 appeals have been lodged so far,” Van Staden said.

The meeting agreed that funding decisions will continue to be communicated, as and when applications are processed, and that the application portal will continue to be updated upon confirmation of the funding decision. 

Institutions have been encouraged to continuously check the updates on the NSFAS applications portal on funding decisions, which will also cover allowance types that students have qualified for.

“NSFAS will upon making the funding decisions commence with the appeals process in order to ensure that appeals decisions are communicated to students and the institutions on time.” – SAnews.gov.za

 

GabiK
Thu, 02/01/2024 - 15:34

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7 Scams to Watch out for in 2024

Location: News
KnowBe4

Watch out! In 2024, scammers have some new tricks up their sleeve, such as deepfake impersonation. That is why fostering a zero-trust mindset can help to keep yourself safe from these scams.

  1. Deepfake impersonation scams

Imagine receiving a voice note from your CEO instructing you to transfer money to a bank account. You follow the instructions without realising that the voice note is a deepfake. And just like that, you have fallen for a scam. Deepfakes make use of AI technologies to create new – but fake – images, videos, and/or audio material from existing material, “Artificial intelligence (AI) technology makes it easier for fraudsters to create these convincing fake messages from people you know and trust,” explains Anna Collard, SVP Content Strategy and Evangelist at KnowBe4 AFRICA. “It enables scammers to generate video and audio that is so convincing, many believe it is real.”

Fraudsters also use AI-generated voice notes or videos to impersonate a family member, such as a grandchild, who claims to be in distress and in need of money. This is called a grandparent scam. “People get scammed that way because their emotions are triggered by hearing an authentic sounding voice clip of their loved one and want to help,” comments Collard.

Another fraudulent application of deepfakes is to impersonate politicians to spread confusion or disinformation. “This is definitely something to watch out for in 2024 as it's an election year,” says Collard.

  1. Investment scams

Investment scams can appear as trustworthy financial organisations promising incredible returns. “However, if something seems too good to be true, it probably is,” says Collard. She advises being cautious in such situations. Scammers often combine cryptocurrency scams with romance scams as well.

Another scam to be wary of in 2024 involves fake loans that offer low-interest rates but never actually materialise. Instead, victims are required to pay upfront fees or provide their personal information. “With the ongoing cost-of-living crisis, scammers may tempt many individuals to apply for these loans to make ends meet, be very careful of any offers that sound too good to be true.”

  1. Romance scams

By using fake profiles on dating sites or social media, scammers build trust with their victims and then exploit this emotional connection to trick them into sending them money. “Even though family members might repeatedly warn the victim, they often continue with the romantic deception because once on the hook, psychologically it is very difficult for the victim's brains to admit that they have been conned,” explains Collard.

  1. Identity and social media profile theft

Identity theft involves stealing personal information to commit fraud. Scammers do this via phishing emails or phone calls, as with banking scams. “Social media profile theft involves hackers hijacking your social media accounts to reach out to your contacts, pretending to be you, spreading malicious software, scams or  asking for money,” says Collard.

  1. Charity fraud

After a humanitarian crisis, like a flood, charity scams frequently emerge. “These scams play on your emotions and ask you to give money to a worthy cause, but in reality, they are fake charities,” explains Collard. Red flags to watch out for are unusual payment methods, such as EFT, instead of secure payment platforms. “Always make sure that charities are registered before you donate and that you interact with the legitimate NGO or charity before transferring any money,” she advises.

  1. Tech support scams

Posing as IT technicians, these scammers try to convince you that there's something wrong with your computer and offer to fix it. They then seize control of your computer and steal your personal information or hack into your bank account. “These scams prey on people's fears,” says Collard. “They throw people into a state of panic in which they're not thinking logically.” She recommends hanging up right away and directly contacting your IT support centre.

  1. Puppy scams

Are you in the market for a pure-bred puppy? Beware! International crime syndicates operating in South Africa offer purportedly discounted pooches. According to Collard, many individuals have suffered significant financial losses not only for the non-existent dog but also for the transportation expenses. She advises buyers to be wary if they encounter a wide variety of dogs for sale on a website or if they are immediately offered a puppy. “Breeders do not operate like Takealot. There are usually waiting lists; it takes time for a puppy to become available,” she says. “If you're offered a second dog at a 30% discount, it's highly likely you're being scammed.”

The general advice for any of the scams listed above is to slow down and take a breath before reacting to anything, particularly if it's emotionally triggering content.

As the boundaries between our physical and virtual worlds continue to blur, a zero trust mindset encourages us to pause, think, and evaluate the content we are interacting with, thereby empowering us to make conscious and more rational decisions.

Distributed by APO Group on behalf of KnowBe4.

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Interview with Zando’s CEO on Navigating The Future of Online Shopping in South Africa

Location: MyPR

Interview with Zando’s CEO on Navigating The Future of Online Shopping in South Africa Cape Town (South Africa): 22 January 2024: Zando.co.za, the leading e-commerce platform in South Africa, announces focus for 2024 under the leadership of newly appointed Chief Executive Officer Morgane Imbert. Zando was established in 2012 and has grown to become one …

Read moreInterview with Zando’s CEO on Navigating The Future of Online Shopping in South Africa

Telkom’s investment to aid connectivity

Location: News

Telkom’s investment to aid connectivity

Telecommunications provider Telkom says the R5.9 billion it had pledged during the last South African Investment Conference (SAIC) will contribute towards enhancing connectivity, especially as the country prepares for the national general elections this year. 

The company is deploying 4G and 5G network infrastructure nationally.

At the fifth South Africa Investment Conference (SAIC) which was held in April 2023, Telkom announced that it would be investing R5.97 billion in Information and Communication Technologies (ICT) infrastructure development across South Africa.

In a statement on Wednesday, the company said it wants to develop and enable solutions that enrich customers’ lives and enable growth in enterprises and small businesses.

Company CEO, Serame Taukobong, believes the investment contributes to South Africa’s economic development, productivity, and job creation.

He added that Telkom, which is a leading information and communications technology services provider, saw it fit to heed the President’s call for investment into the economy.

Government directly holds a 40.5% shareholding in Telkom with a further 15.3% shareholding through the Public Investment Corporation.

He said a remarkable partnership of national importance exists between Telkom and the Electoral Commission (IEC).

“Together the two have successfully executed six national general elections and five local government and municipal elections since 1994.  Telkom is again ready to deliver national digital connectivity to support the IEC's crucial role in our democratic process.  Our country’s prospects depend on it.

He said digitalisation is a key cog in South Africa’s economic development.

“Our infrastructure forms the backbone of the South African economy, underpinning essential service providers like banks, retailers and the mobile sector. 

“Our role is to connect more businesses – big and small – as well as more schools, more homes, and more individuals. Some of our key goals include accelerating mobile growth, driving high speed broadband adoption, expansion of the network, and connecting South Africans to a better life,” he added. – SAnews.gov.za

 

Edwin
Wed, 01/31/2024 - 11:42

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All systems fade for second voter registration weekend

Location: News

All systems go for second voter registration weekend

Chief Electoral Officer Sy Mamabolo says the Electoral Commission is ready to welcome eligible South Africans at the 23 303 registration stations across the country this weekend - to register or check their details ahead of the national elections.

This weekend will be the second Voter Registration Weekend after the weekend of 18 - 19 November 2023.

“The Electoral Commission will hold the second voter registration weekend on 3 and 4 February 2024 in preparation for the general elections of the National Assembly and Provincial Legislatures,” Mamabolo said, addressing the media in Pretoria earlier today.

“We further urge eligible voters to visit the registration stations, to inspect, or update their registration details or to do so online.”

He urged all South Africans to make use of the coming weekend to register for the elections.

Registration weekends remain the most accessible modality of registration as affirmed by the yield from the first registration weekend.

Registration stations will be open from 08h00 and close on 17h00 on both days. Over 69 718 staff members have been recruited and trained for the voter registration weekend.

“The recruitment criteria for electoral staff was conceived in consultation with the national political liaison committee.

“The names of trained staff have also been shared with the municipal political liaison committees to facilitate objections against those staff members that are deemed unsuitable. Out of the appointed staff, 53 028 are female and 16 690 are male.

“In addition, 35 640 registration staff are under the age of 35, whilst 26 475 are between the ages 36 and 50. The balance of 7 603 are people who are 51 years old and above. Crucially, 50 213 of the total staff complement are unemployed persons,” Mamabolo said.

The commission’s collective goal, he said, is to ensure that every one of the eligible voters in South Africa is registered to vote in the 2024 National and Provincial Elections.

“Ahead of the second voter registration weekend, we remind voters of the general rule in elections. That is, a person votes at a voting station where they are registered.

“The only exception to the general rule is that a voter may vote outside of the voting district of registration only if they have first notified the commission by the date which will be regulated by the Election Timetable.

“The need for this prior notification is new and comes about as a result of the changes to the law. Details of the modalities of this notification will be outlined after the registration process,” he said.

Mamabolo explained that the success of the first Registration Weekend was, in the main, because of the efficiencies brought by the Voter Management Devices (VMD’s).

“The VMD is the mainstay technology for the delivery of the registration process. Once again, three business applications will be running on the VMDs during this weekend,” he said.

The international segment of the voters’ roll for out of country registrations stood at approximately 18 000 South Africans ahead of the registration weekend out of the country.

“Following the registration weekend for out of country citizens, this segment of the roll now stands at 29 318 voters. Out of country registrations can still continue via the online registration process that the Commission has developed and which is accessible through the Commission’s website,” Mamabolo said.

He said as of today, voters can also check their registration status and voting station details via the IEC's Whatsapp Chatbot on 0600 88 0000. – SAnews.gov.za

 

 

 

Edwin
Wed, 01/31/2024 - 15:21

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Fast Courier Services: The Key to Reliable Deliveries

Location: MyPR

In today’s fast-paced world, businesses and individuals alike depend on fast and efficient courier services to ensure that their parcels and packages reach their destinations on time. Whether you need to send important documents or deliver products to customers, choosing the right courier company is crucial. In this blog, we will explore the benefits of …

Read moreFast Courier Services: The Key to Reliable Deliveries

Exclusive Networks Africa bolsters security portfolio with HCLSoftware agreement

Location: Business

Johannesburg, 29 January 2024 – Exclusive Networks Africa has secured an agreement with HCLSoftware, the software business division of HCLTech, which will see the global trusted cybersecurity specialist for digital infrastructure add the HCLBigFix endpoint management platform to its existing cybersecurity offering. According to Anton Jacobsz, Managing Director of Exclusive Networks Africa, the agreement came …

Read moreExclusive Networks Africa bolsters security portfolio with HCLSoftware agreement

Africa Mercy® heads to Madagascar after recrewing in East London

Location: News
Mercy Ships

Following a recrewing effort, the hospital ship, Africa Mercy®, has now departed from the Port of East London for service within the nation of Madagascar for the next ten months.

During the eight-month refit in Durban's Dormac Shipyard, the ship underwent extensive repairs and maintenance to prolong and improve the vessel's service life and quality of medical services.

Highlights of the Africa Mercy's® refurbishment included an information technology (IT) upgrade enhancing the ship's operating theatre functionality and performance by enabling seamless coordination between the Africa Mercy® and Mercy Ships' latest hospital ship, the Global Mercy™, currently serving the nation of Sierra Leone in West Africa. Upgrades will support the provision of essential training for local doctors, fostering the development of in-country healthcare professionals. Additional improvements included the modernization of the galley, upgrades to the elevator system, and remodeling of several cabin spaces, enabling the ship's community to better serve those in need of surgical care.

Brenda van Straten, Director, Mercy Ships, South Africa, says: “The refit was part of a broader five-year initiative to ensure that the Africa Mercy® can continue the provision of life-changing surgeries and training over the next decade. In parallel with the Ship's refurbishment, Mercy Ships conducted eight Safer Anesthetics from Education (SAFE) courses in South Africa this past year, impacting 236 health professionals in the region.”

The courses in South Africa focused on rural and state hospitals where junior doctors were in vital need of practical approaches to managing their patients. A total of 58 South African anesthetists partnered with Mercy Ships to provide the training.

The ship's service in Madagascar is part of a five-year investment in Education, Training, and Advocacy efforts in combination with a surgical schedule, including maxillofacial and ENT, general, pediatric specialized general, pediatric orthopedic, reconstructive plastics, ophthalmic, women's health, as well as dental care.

“Madagascar faces a shortage of surgical support from both local and international partners, especially in the most vulnerable areas. We appreciate Mercy Ships' approach to reaching underserved communities. As we open 28 district hospitals, each requiring at least two surgeons, we look forward to collaborating with Mercy Ships to strengthen our surgical capacity,” shared Dr. Lethicia Lydia Yasmine, secretary general for the Ministry of Health, Madagascar.

A 2016 study found that only 20% of the population can access surgical services within two hours, and up to 95% of the population would face financial ruin if they required surgery. With approximately 20 physicians for every 100,000 people, surgical treatment feels out of reach for many.

The ten-month field service will be the fourth visit since 1996, with the most recent in 2015-2016. Over these three previous field services, Mercy Ships worked with the government and the Ministry of Health to provide 6,425 surgical procedures and over 52,000 dental procedures. In addition to providing life-changing surgical and dental care, Mercy Ships has a historic focus on education having trained a total of 2,019 healthcare professionals in Madagascar to date.

Mercy Ships still has open volunteer roles for project directors, a clinical training coordinator, informatics specialists, as well as ward nurses, IT professionals, cooks, teachers, plumbers, and electricians. For more information visit www.MercyShips.co.za

Distributed by APO Group on behalf of Mercy Ships.

Hi-res photos and general Mercy Ships B-Roll video footage are available upon request.

For more information contact:
Brenda van Straten                                                                          
Director, South Africa
Mercy Ships
Email:  info.zaf@mercyships.org
Website:  www.MercyShips.co.za

About Mercy Ships:
Mercy Ships operates hospital ships that deliver free surgeries and other healthcare services to those with little access to safe medical care. An international faith-based organization, Mercy Ships has focused entirely on partnering with African nations for the past three decades. Working with in-country partners, Mercy Ships also provides training to local healthcare professionals and supports the construction of in-country medical infrastructure to leave a lasting impact.

Each year, more than 3,000 volunteer professionals from over 60 countries serve on board the world's two largest non-governmental hospital ships, the Africa Mercy® and the Global Mercy™. Professionals such as surgeons, dentists, nurses, health trainers, cooks, and engineers dedicate their time and skills to accelerate access to safe surgical, obstetric and anesthetic care. Mercy Ships was founded in 1978 and has offices in 16 countries as well as an Africa Service Center in Dakar, Senegal. For more information, visit MercyShips.org and follow @MercyShips on social media.

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Shaping the Future of South African Education: The Transformative Role of Emerging Technologies

Location: MyPR

By Dr Shahiem Patel – Dean of Regent Business School The future is becoming increasingly difficult to think about, let alone plan for. The vital need for education systems in South Africa to improve and meet the pressing needs of society and our economy only compound this difficulty. The rate at which technology is developing …

Read moreShaping the Future of South African Education: The Transformative Role of Emerging Technologies

Is voice biometrics in banking secure enough?

Location: News
iiDENTIFii

Apart from going into a branch, calling a bank feels more human for digital-shy consumers. For many, it is the first port of call for making account changes or moving large sums of money. But how safe is voice banking really, and what are the chances of someone using generative AI to fake a consumer's voice and steal their available funds? As incidents of banking fraud grow exponentially and become increasingly sophisticated, it is time to question whether voice banking is a safe option for consumers.

Impersonation attacks continue to increase 

Impersonation is one of the predominant methods fraudsters use to rob consumers. Using identifying information such as personal details or AI-generated voice, criminals can access consumer bank accounts with impunity. According to the Southern African Fraud Prevention Service (SAFPS), impersonation attacks increased by 264% (https://apo-opa.co/3vRJHy3) for the first five months of 2022 compared to 2021.

Gur Geva, founder of iiDENTIfii, explains why. “The technology required to impersonate an individual has become cheaper, easier to use and more accessible. This means that it is simpler than ever before for a criminal to assume one aspect of a person's identity.”

How voice impersonation works

Voice recognition systems in banking rely on a person saying something aloud, such as a unique catchphrase or password. This is vulnerable to exploitation because synthetic AI-generated voice technology has evolved to such an extent that it is indistinguishable from real voices. According to MIT (https://apo-opa.co/3vQzDW2) and Google (https://apo-opa.co/481DexW), generative AI voice cloning tools only need a minute of voice data–which is often scraped from social media–to create a result that is almost indistinguishable from the original.

The potential of this technology is vast. Microsoft, for example, has recently piloted an AI tool that, with a short sample of a person's voice, can generate audio in a wide range of different languages. While this has not been released for public use, it illustrates how much voice as a medium can be manipulated.

The appeal of voice recognition in banking

Voice recognition has a multitude of benefits. It is accessible to a diverse range of consumers, who only need a phone line to perform banking tasks. Voice recognition programs can often pick up a voiceprint much faster than a person can type, which streamlines and reduces friction in the banking process for consumers without needing to enter complex passwords.

“Historically, voice biometrics has been seen as an intimate and infallible part of a person's identity. For that reason, many businesses and financial institutions used it as a part of their identity verification toolbox,” says Geva.

Audio recognition technology has been an attractive security solution for financial services companies across the globe, with voice-based accounting enabling customers to deliver account instructions via verbal commands. Voice biometrics offers real-time authentication, which replaces the need for security questions or even PINs. One of the UK's biggest banks, for example, integrated Siri to facilitate mobile banking payments without the need to open or log into the banking app. An Abu Dhabi based bank introduces a biometric voice and voice-based authentication platform for e-commerce which uses biometric sensors built into a standard smartphone.

“As voice-cloning becomes a viable threat, financial institutions need to be aware of the possibility of widespread fraud in voice-based interfaces. For example, a scammer could clone a consumer's voice and transact on their behalf,” says Geva.

Do South African banks need to do away with voice authentication altogether?

Not necessarily. Thankfully, banks do not rely on a single form of authentication when performing a transaction. As the threat of cyber fraud grows, a rising number of local banks are investing in cutting-edge, multi-layered biometric authentication protocols.

Geva adds, “Our experience in mitigating fraud and our research into rising AI-enabled cybercrime trends has led us to believe that voice authentication can be made safer if it is bolstered by additional remote digital verification methods. We recommend to banking clients that they adopt multimodel identity verification, especially for sensitive transactions.”

In conclusion, voice biometrics in banking still serves several customers, particularly those who may need access to smartphone apps or in-person banking. While fraud risks abound, voice cloning is less of a threat to the public as it is difficult to roll out at scale as criminals would need to have access to substantial personal information for each target. AI voice cloning technology may be cheaper and more accurate, but, if banks employ up-to-date, enterprise-grade biometric authentication processes, they will be better protected.

Geva concludes, “While identity theft is growing in scale and sophistication, the tools we have at our disposal to prevent fraud are intelligent, scalable and up to the challenge. At iiDENTIFii, we believe that face biometrics remains the strongest form of biometrics, as the face can be matched against a government issued, trusted ID document, whereas a voice cannot. This approach is trusted by our clients, which include five of South Africa's leading banks.”

Distributed by APO Group on behalf of iiDENTIFii.

About iiDENTIFii:
iiDENTIFii is an award-winning face authentication and identity verification platform that distinguishes itself through its use of 3D and 4D Liveness® detection. Purpose-built for enterprises across Africa and the Middle East, iiDENTIFii enables frictionless, scalable customer onboarding in seconds from anywhere and on any device. Founded in 2018, iiDENTIFii has become a proven key partner in multiple tier 1 African banks. The technology plugs seamlessly into existing infrastructures, including mobile and web-based platforms. www.iiDENTIFii.com

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Peacebuilders Unite to Relaunch Tales of Turning Before the Upcoming Elections

Location: MyPR

The upcoming elections are a turning point in South Africa’s democratic journey and the high stakes pave the way for mis- and disinformation. The relaunch of Tales of Turning – which harnesses research, social media, and technology for good – comes at a crucial moment in the country’s history. Renowned peacebuilders, Geoffrey Mamputa and Stefan …

Read morePeacebuilders Unite to Relaunch Tales of Turning Before the Upcoming Elections

LG’s Commitment to Innovation is Recognised with Numerous Awards at CES 2024

Location: MyPR

LG Continues Long-Standing History of Honours at World’s Preeminent Consumer Technology Show With More Than 200 Awards & Accolades LAS VEGAS, Jan. 26, 2024 — At this year’s CES®, LG Electronics (LG) was honoured with more than 200 awards and recognitions for a wide range of innovations and technologies across the home appliance, home entertainment …

Read moreLG’s Commitment to Innovation is Recognised with Numerous Awards at CES 2024

Exploring the Future of Automotive Excellence in South Africa

Location: MyPR

The Evolution of Car Buying Experience The car buying journey has transformed significantly over the years. Today’s customers are looking for more than just a vehicle; they seek a partner in their automotive journey, offering cutting-edge technology and a commitment to excellence. One such example is the emergence of a new state-of-the-art dealership that is …

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Compostable & biodegradable packaging – ‘silver bullets’ or ‘greenwashers’?

Location: MyPR

Compostable and biodegradable packaging, currently mooted as the ‘silver bullets’ that will end South Africa’s plastic packaging pollution and landfill challenges, may not deserve the ‘green’ image they have been credited with worldwide and locally. This is the opinion of respected recycler, Chandru Wadhwani, Joint Managing Director of Extrupet, one of the largest and most …

Read moreCompostable & biodegradable packaging – ‘silver bullets’ or ‘greenwashers’?

Verdant Capital advises USPlus on EUR 2 million debt capital raise

Location: Business
Verdant Capital

Verdant Capital (www.Verdant-Cap.com) is pleased to announce that it has facilitated and advised on the raising of EUR 2 million of debt funding for US Plus Limited (“UsPlus”), an innovative specialist SME financing firm based in South Africa.

The funding increases UsPlus' capacity to finance SMEs in South Africa, thereby contributing to the country's development agenda.  The new funding further broadens the institutional funding base of UsPlus following the USD 10 million debt capital raise completed by Verdant Capital in 2022 and building on the Domestic Medium Term Programme registered on the Johannesburg Stock Exchange.

Studies show that SMEs contribute close to 30% of employment in South Africa, but most of these SMEs do not survive beyond 5 years due to a number of causes, of which lack of funding is a leading factor. Most SMEs are self-funded and struggle to access funds at various stages in their operation. The South African government, under its National Development Plan 2030, is looking to SMEs to help achieve its objective of creating 11 million jobs by 2030. Against this backdrop, UsPlus has been operating since 2015, specialising in the provision of tailor-made working capital finance solutions to SMEs through the purchase of transferable instruments such as invoices, purchase orders and contracts issued by or to its SME clients. This convenient and cost-effective solution gives SMEs access to funding to manage working capital and maximise profits.  Verdant Capital has acted as an important catalyst for funding SME clients in South Africa and across the African continent.

Since its establishment, UsPlus has deployed over ZAR 3.7 billion (approx. USD 196 million) in working capital to SMEs. Its clients are actively engaged in over 25 industries, including agriculture and film production. UsPlus focuses on social, economic and environmental impact and works with SMEs that contribute to employment in South Africa, the upliftment of black-owned enterprises, women-owned enterprises and rurally located enterprises. Furthermore, the company is guided by the International Finance Cooperation's Exclusion List and does not support businesses which operate within this list. UsPlus' success stems from its highly experienced management team and technology-enabled operations, which 1) help meet customers at their point of need, 2) enhance client service experience, and 3) help manage business risk.

Verdant Capital has a strong funding pipeline for UsPlus which will continue to support the successes of the business.

Verdant Capital was the sole advisor and arranger of UsPlus' International debt capital raise.  

Distributed by APO Group on behalf of Verdant Capital.

Media enquiries:
Verdant Capital:
Liezel van Greunen,
T: +27 10 140 3700
E: liezel.vangreunen@verdant-cap.com

About Verdant Capital:
Verdant Capital is a leading investment manager and investment bank specialising in the private capital markets and operating on a pan-African basis.  Verdant Capital is the manager of the Verdant Capital Hybrid Fund. www.Verdant-Cap.com.

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Future-Proofing Your Career Is A Click Away For SA’s Techno-Fluent Youth

Location: MyPR

Just matriculated and uncertain about what comes next? A new year and you’re considering a new career? This is what’s next… Not too long-ago technological skills were as exciting as meeting the grim reaper, but today, tech-savvy individuals are the hottest commodity on the job market. Most roles today require some degree of digital and …

Read moreFuture-Proofing Your Career Is A Click Away For SA’s Techno-Fluent Youth

The Duke of Edinburgh celebrates youth and biodiversity in South Africa

Location: News

British High Commission Pretoria
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His Royal Highness Prince Edward The Duke of Edinburgh has spent the last two days in South Africa (22 – 23 January), marking the first Royal visit of its kind since President Ramaphosa's historic State Visit to the UK in November 2022. 

During the visit, His Royal Highness met Acting President Mashatile at Oliver Tambo House.

Alongside Ms Barbara Creecy, South Africa's Minister of Forestry, Fisheries and Environment, The Duke explored Pretoria's Botanical Garden with CEO of the South African National Institute (SANBI), Mr Shonisani Munzhedi. This followed President Ramaphosa's visit to the Royal Botanical Garden, Kew, in November 2022, and marked the long-term collaboration between Kew and SANBI to ensure the survival of South Africa's rich plant diversity.

HRH met a wheelchair user and her husband who are regular users of the Enabling Garden, to learn about the different indigenous plants suitable for hanging baskets. He learnt about some of South Africa's abundant flora biodiversity and medicinal plants, as well as viewing the National Herbarium where the largest collection of plant specimens in southern Africa are hosted (with over one million currently being digitised).

HRH met biodiversity organisations to hear about how they are conserving nature and reversing biodiversity loss.

At the British High Commissioner's Residence, The Duke toured an exhibition of President Award winners, moving from stand to stand to talk to young people about their journeys, alongside Award Chairman Modise Makhene and Deputy Minister for International Relations and Cooperation, Ms Kwati Candith Mashego-Dlamini.

This year, the President's Award (The Duke of Edinburgh International Award) celebrates its 41st anniversary in South Africa.

Launched in 1994 with Nelson Mandela as the Founding Patron-in-Chief, the Award today continues to serve as a shining example of our shared values of youth empowerment, community service and creating opportunities for all.

The Award supports approximately 3,000 young South Africans each year. Since 2011, over 65,000 young people are estimated to have participated in the programme. 

HRH also attended a Reception at the Residence with Dr Blade Nzimande, Minister of Higher Education, Science and Technology, to celebrate the launch of the UK's new International Science Partnership Fund.

UK High Commissioner to South Africa, Antony Phillipson said:

“This visit reflects the significant breadth and depth of our modern-day friendship with South Africa – from youth empowerment, to climate, science research, biodiversity and democracy - our countries' shared values are clear. Continued collaboration and investment in these areas of mutual interest demonstrate our commitment to working together to address some of the world's most pressing challenges.”

Distributed by APO Group on behalf of British High Commission Pretoria.

Read moreThe Duke of Edinburgh celebrates youth and biodiversity in South Africa

Responsible, human-centred approach – key to using GenAI in education

Location: Business

By Shakeel Jhazbhay, General Manager, Digital Business Solutions at Datacentrix JOHANNESBURG – 23 January, 2024 – In the ever-evolving realm of educational technology, Generative AI (GenAI) is emerging as a transformative force poised to reshape the education sector. However, exploring the benefits and drawbacks of GenAI is crucial for a comprehensive grasp of its suitable …

Read moreResponsible, human-centred approach – key to using GenAI in education

Tough economic headwinds provide exciting opportunities for agile, customer-centric fintechs (By Andy Jury)

Location: News

Mukuru
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By Andy Jury, CEO at Mukuru (www.Mukuru.com)

Taking stock of fintech in the broader African context while looking forward to opportunities in the year ahead.

At this time of the year there is usually a flurry of articles attempting to lay out trends to look out for in various industries over the coming months. This is a good exercise as it gets one thinking about industries broadly and technology specifically. However, it would be remiss to embark on this exercise without first taking stock of where we are now. The fintech ecosystem is currently in a period of stress, less so for incumbents but noticeably for newcomers.

This stress is a direct result of macroeconomic pressures piling up to generate headwinds for new market entrants. As we all know, when the macro picture is less than rosy it affects play out on the ground. In summary, there is less money floating around – less money from investors and most notably, less disposable income in the hands of consumers.

Let's take a moment to appreciate how this looks in the broader African context. Firstly, it means there is significantly less money knocking on the doors of new and innovative businesses that need investors.

Just recently, a payments processor headquartered in France lost 53% of its value - this kind of scenario has a knock-on effect across borders. However, there is a massive opportunity for fintechs that have bootstrapped themselves up in the uniquely African context.

What does this opportunity look like? For starters, there continues to be a great deal of disruption in the market. Fintechs, mobile network operators (MNOs) and banks will approach the challenges and opportunities differently. The ones that emerge from this phase in a strong position will be those that have thought about the economics of their proposition carefully, because the opportunity that presents itself in tough times is likely more scalable from an addressable market perspective.

On the other hand, those who react will focus on price. A war on price is a race to the bottom. On the contrary, the businesses and fintechs that get through the tough times will be those that focus on customer experience (CX). It may be considered an intangible that sits between the bricks and cogs of a business, but it is crucial.

In difficult conditions, every business focuses on customers returning and using their products and services more frequently. This isn't easy, or everyone would be getting it right. Customers with less money in their pockets become more discerning, and in our experience are looking for a full basket of genuinely personalised customer experience where affordability is a crucial component, but most certainly not the only one.

We have learnt that speed, access, trust, convenience and safety in the payments space continue to be exceptionally important drivers in customers' decision making on where to spend their hard-earned money. At Mukuru we build very tight feedback loops with our customers and the feedback we get time and time again is speed, ease of use and safety is primary to how they develop their consideration set.

Looking ahead, regulation will continue to play an important role in how the industry evolves. The FATF's greylisting earlier this year has had a significant impact on businesses such as ours. We are under increasing scrutiny, not because anyone thinks we present any more risk than before, but because accountable institutions must demonstrate that they are confident money isn't being laundered or used for nefarious purposes. The result is that fintechs need to spend more time thinking and planning their products and must be tight in terms of the relationships they build with their customers.

Regulation is also expected to present immense opportunities, especially in Southern Africa. South Africa, for example, lags other regions in the realm of mobile money. Legislation which is expected to come into play in 2025 will effectively form the framework within which e-money capabilities will be governed. This moment will be a significant game changer for the region. The ability for more people to use e-wallets more frictionlessly will add immense value in the South African context and will fundamentally change the landscape of how money is stored, used and moved.

Looking toward this big disruption on our doorstep, businesses will approach the opportunity differently. There will be those who throw mud at the wall and see what sticks, whereas we believe the real winners will be those that remain crisp and precise with their customer propositions. In this context, we believe partnerships will be vital for stability and growth, where partners enter mutually beneficial symbiotic relationships. These can take many shapes and forms, such as payment providers bridging the gap between the informal and formal sectors solving a problem for fintechs who need ways to enable their customers to pay for goods and services, and where the payment provider gets access to millions of previously unreachable customers.

Digitisation and diversification will continue to be important trends in the coming months and years. Take a moment to consider the power that MNOs and banks have traditionally exerted in the formal payments ecosystem – fintechs who are agile can enter into partnerships with other fintechs to offer similar one-stop solutions to those currently offered by the MNOs and banks. This trend will see an equalisation of influence.

Lastly, those that prioritise customer needs and wants will emerge stronger. There are two schools of thought on how you digitise money. The first is that you place a wallet in someone's hands and encourage them to use it. This would be the traditional approach. The Mukuru approach, and certainly the approach of the more agile players, is to find a way to help people with their payment and remittance needs and then graduate them towards using a digital store of value as they develop trust in the brand and the technology.

These are divergent approaches, but in difficult economic conditions our experience – which has seen us sign up 14-million customers across many countries – says it is better to listen to what customers want and then walk a journey with them as they become more sophisticated in their digital journeys. Our approach is to solve a problem and then gradually build trust and extend the services and products we offer, as opposed to building a shiny product and waiting for customers to arrive.

Distributed by APO Group on behalf of Mukuru.

About Mukuru:
Mukuru is a leading next generation financial services platform in Southern Africa that offers affordable and reliable financial services to a customer base of over 13 million across Africa, Asia and Europe.

With over 100 million transactions to date, our core was built providing international money transfers and from this base, we've developed a set of services to address the broader financial needs of our customers. We now operate in over 50 countries and across over 300 remittance corridors.

We are a business that puts the customer at the centre of everything we do, and for that reason, we serve clients across physical and digital channels, by various payment methods (cash, card, wallet) as well as a range of engagement platforms including WhatsApp, USSD, contact centre, App, website, agents and a branch and booth network.

Mukuru has, for the fourth consecutive year, been listed as one of the top 100 Cross Border Payments businesses in the world in the 2023 FXC Intelligence Top 100 Cross-Border Payment Companies (https://apo-opa.co/48HwI0k), one of only six African companies to receive this accolade.

In April 2023, Mukuru officially ranked sixth on the 2023 LinkedIn Top Companies List in South Africa.

Mukuru was also celebrated for innovation and excellence at the 2023 Africa Tech Festival Awards, receiving the Fintech Innovation of the Year Award - an acknowledgment of the transformative power of financial technology in driving economic growth, financial inclusion, and digital transformation.

Further information can be found at www.Mukuru.com.

Read moreTough economic headwinds provide exciting opportunities for agile, customer-centric fintechs (By Andy Jury)

Infinite Family Provides Matrics 2023 Video Mentoring With Record 97% Pass Rate

Location: MyPR

Johannesburg/New York 22 January 2024: Infinite Family (IF), South Africa’s primary video mentoring organisation, delivers a 90% Bachelors and Diploma pass rate to their 2023 Matrics. “Out of a total of 18 matric ‘Net Buddies’ across all three video lab sites, we have 14 who have achieved Batchelors qualifications, and two with Diploma status,” says …

Read moreInfinite Family Provides Matrics 2023 Video Mentoring With Record 97% Pass Rate

South Africa concludes tough but productive trip to World Economic Forum (WEF) 2024

Location: News

National Treasury, Republic of South Africa
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South Africa's delegation to the World Economic Forum (WEF) 2024 Annual Meeting in Davos used the platform to meaningfully engage investors, civil society, businesses and governments, and drove home the message that the country remains a top destination for growth and investment. The delegation was led by the Minister of Finance, Mr Enoch Godongwana and comprised of Minister of Trade, Industry and Competition Mr Ebrahim Patel, Minister of Higher Education, Science and Innovation Dr Blade Nzimande, Minister of Communications and Digital Technologies Mr Mondli Gungubele, and Minister of Health Dr Joe Phaahla, Brand South Africa, business executives, entrepreneurs and civil society leaders.

The overall WEF 2024 theme, Rebuilding Trust, underlined South Africa's continued role as a regional and global leader in the international community. Minister Godongwana said that South Africa's participation in global forums such as WEF Davos reinforced their belief in the value of multilateralism and the spirit of cooperation as a critical part of an overall strategy to lift economic growth. He added that countries stood to benefit from the common pursuit of a fairer, more inclusive, and representative global system.

The South African delegation tackled questions on the progress the country is making in economic reforms, particularly in areas of energy, transport and logistics, and fighting crime.

“We took the opportunity of the WEF Davos gathering to remind our partners around the world that South Africa has made tremendous progress in the past 30 years since we achieved democracy,” said Minister Godongwana. “Yes, we face a number of obstacles to achieving policy that balances fiscal sustainability, growth-accelerating reforms, and targeted spending on social services and infrastructure. We are forging ahead and making good progress.”

The Annual WEF meeting, which took place from 15 to 19 January 2024, offered South Africa's policymakers a genuine and rare opportunity to speak directly with a cross spectrum of stakeholders in global affairs, exchanging views on how to weather the rise in geopolitical and economic tensions that are shaping today's world.

Climate, technology, trade and multilateral cooperation were high on the agenda, as was South Africa's upcoming presidency of the G20 in 2025. In addition to its participation in the G20, the country is playing a key part in the expansion of the BRICS group, as well as the deepening of intercontinental economic integration through the African Continental Free Trade Area (AfCFTA).

Speaking at a panel on the BRICS in Expansion, which was inked in August 2023 at a summit in Johannesburg, Minister Godongwana stressed the importance the bloc is playing in reforming international decision-making bodies to better reflect contemporary power and economic realities.

“Although individual economic circumstances amongst BRICS+ will vary, there will be common interests that will allow the bloc to forge consensus on the urgency of sustainable economic development,” said Minister Godongwana. “The expansion will help the BRICS Group to be the voice of the global south.”

Distributed by APO Group on behalf of National Treasury, Republic of South Africa.

Read moreSouth Africa concludes tough but productive trip to World Economic Forum (WEF) 2024

Minister Senzo Mchunu calls on water sector to prioritise providing adequate water and sanitation services to public

Location: News

Department of Water and Sanitation, Republic of South Africa
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Minister Mchunu calls on the water sector to set aside egos and prioritise providing adequate water and sanitation services to the public

In a bid to improve performance of the water sector and its services to the public, Minister of Water and Sanitation, Senzo Mchunu, has called for the sector to suspend its ego and prioritise professionalism.

The Minister made these remarks during the two-day Water Services Authorities Summit held on Thursday 18 and Friday 19, January 2024 at the Emperors Palace, Kempton Park, Gauteng.

The purpose of the summit was to review the progress assessment reports, find the underlying reasons for poor and good performance, and collectively develop a plan to reverse the decline in performance.

Attending the summit were Minister of Cooperative Governance and Traditional Affairs (COGTA), Thembi Nkadimeng, Water and Sanitation Deputy Ministers, David Mahlobo and Judith Tshabalala, as well as provincial and local government representatives including Mayors, MMCs, Municipal Managers and technical officials of the 144 Water Services Authorities across the country. Also, in attendance and participation were representatives from various institutions including the water boards, the Municipal Infrastructure Support Agency (MISA), National and Provincial Treasury, professional bodies, training organisations, whose wide range of support relate to funding, capacity building, professionalisation, engineering, financial management and governance. These institutions were critical elements in the process of developing and implementing improvement plans for the WSAs.

Setting the scene, Minister Mchunu gave an overview of the state of water in the country according to the previous Blue, Green, and No Drop reports released in December 2023.

He further highlighted that the Drop certifications were initially introduced 16 years ago in 2008, with annual reports being released from 2009 until 2014. These reports served as an effective regulatory mechanism, evaluating water and sanitation services, incentivising municipalities to improve their performance, and guiding areas for enhancement.

In recent years, the water sector in South Africa has faced numerous challenges, with reports showing a decline in the quality of drinking water and wastewater, as well as an increase in potable water losses. These issues have caused great concern among the public, particularly regarding the growing percentage of drinking water systems failing to meet both national and international compliance standards as revealed by these assessments. 

“We have resuscitated the assessments and are committed to preventing similar mistakes in the future,” Minister Mchunu said.

Minister Mchunu's call for the water sector to suspend its ego stems from the need to prioritise professionalism and service delivery to the public to address the decline in performance.

The Minister emphasised that the non-provision of clean drinking water and a clean environment goes against people's basic human rights, as outlined in the Bill of Rights in the Constitution. It is therefore imperative that the water sector takes immediate action to address these challenges.

Following extensive discussions, several recommendations were put forward to improve the water sector and enhance water and sanitation services for the public. Notably, it was agreed that Water Service Authorities should make fundamental changes in the manner that they deliver water and sanitation services. This by either considering establishing their own entities or creating special-purpose vehicles as water service providers. This would allow for greater accountability and efficiency in the provision of water and sanitation services.

Municipalities have been categorised into four groups based on their Drop scores during discussions on how to improve.

The first group comprised 67 municipalities that have an average 'critical' score in their water supply and/or wastewater systems in the 2023 and 2022 full Green Drop. The second group consisted of 38 municipalities that had an average 'poor' score in their water supply and/or wastewater systems in the 2023 and 2022 full Green Drop. The third group includes 27 municipalities that have an average 'average' score in their water supply and/or wastewater systems in the 2023 full Blue Drop and 2022 full Green Drop. Lastly, the fourth group comprised 12 municipalities that have an average 'good' or 'excellent' score in their water supply and/or wastewater systems in the 2023 full Blue Drop and 2022 full Green Drop.

The 105 municipalities who are in the critical, poor and average categories were urged to utilise consider appointing reputable, credible, and competent water service providers for the next two to three years. This move would help address the current gaps in service delivery and ensure that communities have access to clean and reliable water sources. This could be in a form of another municipality that performed well in their assessments scores in all reports, a water board or a competent private water services provider.

Another important area of focus is the review of implementing agents, with an emphasis on capacity building. The Directors- General of the Department of Water and Sanitation (DWS), COGTA, South African Local Government Association (SALGA), and the provincial and Local Government will collaborate to strengthen the capacity of implementing agents, the water sector will be better equipped to deliver on its mandate and meet the needs of the public.

Deputy Minister Mahlobo, who was also speaking at the summit, announced recommendations and a way forward on finance, security, and corruption.

One of the major recommendations made was the strengthening of the budget for water and sanitation services. This will include relooking at budget allocation to ensure that more funds are allocated towards provision of these services of the public.

Deputy Minister Mahlobo emphasised the importance of infrastructure security in ensuring uninterrupted water services. He urged all municipalities to develop and execute reliable infrastructure security plans, which should include the use of technology such as remote fencing and a rapid response system to combat theft and vandalism of infrastructure. These measures will not only protect the vital water infrastructure but also ensure a reliable supply of water to the public.

The Deputy Minister also announced the formation of a multi-disciplinary security cluster consisting of Ministers and Mayors. This cluster will be responsible for leading intelligence operations and prosecutions against elements that hinder service delivery such as vandals, mafia as well as saboteurs of water infrastructure. The team will also be tasked with screening technical division officials for lifestyle, integrity, morality, and community involvement, thereby ensuring that only the most qualified and dedicated individuals are entrusted with the responsibility of providing water services.

In his closing remarks, Minister Mchunu said the provision of reliable quality drinking water to citizens must be treated with priority and necessary urgency. The decline in water quality and increase in water losses were pressing issues that demanded immediate attention. By implementing the recommendations put forward, such as the establishment of dedicated entities or special purpose vehicles, and the appointment of reputable service providers, the water sector can make significant strides towards meeting the needs and rights of the public. Though the challenges are great, with a unified effort and a commitment to collaboration, a positive change is indeed possible.

Distributed by APO Group on behalf of Department of Water and Sanitation, Republic of South Africa.

Read moreMinister Senzo Mchunu calls on water sector to prioritise providing adequate water and sanitation services to public