Commerce

LG Electronics South Africa launches a new online store, revolutionizing digital shopping and enhancing customer experiences nationwide. (Image source: Adobe Stock)

LG Electronics South Africa has made a groundbreaking move in the world of shopping with the launch of its online store, poised to transform the way South Africans purchase their favorite tech products

This is more than just a new e-commerce platform; it's a significant shift in the digital landscape, signaling a new phase in LG’s journey within the South African market, according to Jinkook Kang, subsidiary president at LG Electronics South Africa.

As only the third market in the Middle East and Africa region to introduce a brand-specific online store, LG South Africa is leading the way in a new era of digital retail excellence. This milestone underscores LG’s position as a technology leader and its dedication to meeting the evolving demands of South African consumers.

Kang expressed his enthusiasm about the new platform, saying, “We did not just open an online store; we are unlocking a portal to the future of retail in South Africa. This platform represents a fusion of LG’s pioneering technology with the vibrant spirit of South African consumers. It’s more than a shopping destination—it’s a digital playground where innovation meets aspiration, where every click brings you closer to experiencing the extraordinary.”

Experience premium tech

The newly launched e-commerce site offers a wide range of LG’s most popular products, including stunning OLED and QNED televisions that elevate visual experiences, advanced home appliances that make everyday tasks more enjoyable, cutting-edge monitors for tech enthusiasts, and energy-efficient air conditioning units for eco-conscious buyers.

To mark this digital milestone, LG is offering an exciting promotion. From August 27 to September 30, 2024, customers who spend R7,000 or more online will receive a complimentary LG XBOOM XG2T speake, valued at R1,199. This limited-time offer is exclusive to the online store, providing even more incentive for customers to explore LG’s digital retail space.

The excitement doesn’t end there. LG’s renowned Premium Service is also available for selected items purchased through the online store. This service includes free delivery, professional installation, and ongoing support, ensuring that every LG product is seamlessly integrated into customers' lifestyles.

Recognising the diverse needs of South African consumers, LG has introduced a range of payment options, including interest-free installments and credit alternatives, making it easier than ever to access premium technology.

“We’re not just selling products; we’re crafting experiences that resonate with the South African spirit,” commented Kang. “Our online store is a digital embodiment of our ‘Life’s Good’ philosophy—a place where technology enhances life, where innovation meets inspiration, and where every purchase is a step towards a brighter, more connected future.”

As LG Electronics South Africa embarks on this new digital journey, the company remains committed to its core values of innovation, quality, and customer satisfaction. The online store represents more than just a sales channel; it exemplifies LG’s commitment to enhancing the lives of South Africans through accessible and cutting-edge technology.

“This launch is just the beginning of an exciting new chapter,” concluded Mr. Kang. “We’re not just reimagining retail; we’re redefining the very essence of how South Africans interact with technology. Every click, purchase, and unboxing is a chance to experience something amazing. Welcome to the future of shopping—welcome to the LG online store!”

Yellow Card partners with Fireblocks to enhance cross-border transactions in Africa, securing assets with Wallets-as-a-Service (WaaS) at scale. (Image source: Adobe Stock)

Yellow Card, Africa's leading stablecoin on/off ramp, has announced its integration with Fireblocks, a digital asset infrastructure provider, to enhance cross-border transactions for businesses and individuals

By leveraging Fireblocks, Yellow Card aims to simplify access to African markets for global corporate treasuries, offering secure and efficient on-chain solutions. This partnership includes utilising Fireblocks' Wallets-as-a-Service (WaaS) to enable Yellow Card to create, manage, and secure up to 14 million multi-party computation (MPC) wallets at scale, ensuring the protection of customer assets.

Digital innovation 

Chris Maurice, CEO and co-founder of Yellow Card, expressed enthusiasm about the collaboration, stated, “We're excited to work with Fireblocks to enable real-world use cases for stablecoins, solving the complex challenges of international and pan-African transactions. Together, we enhance how businesses around the world manage their treasury, make payments, and drive innovation across Africa."

Fireblocks, known for its user-friendly platform that facilitates the creation of blockchain-based products and the management of digital asset operations, has secured the transfer of over US$6 trillion in digital assets. The partnership with Yellow Card is set to address the complex challenges faced by multinational corporate treasuries, such as regulatory compliance, currency volatility, and inefficiencies in legacy banking systems.

“Much like the rest of the world, Africa has seen a transformative shift from traditional payment methods to alternative payments, driven by new technologies, with US$100bn worth of remittances flowing into the continent. However, cross-border payments are still encumbered by high costs, with low-value cross-border payments incurring steep fees,” said Ran Goldi, senior vice-president payments and network at Fireblocks. “We are delighted to be working with Yellow Card to provide our direct custody wallets-as-a-service (WaaS), allowing them to secure their customers’ digital assets at scale.”

With a presence in 20 African countries, Yellow Card is leading efforts to assist organisations in managing foreign exchange (FX) risk through stablecoin transactions. By utilizing USDT, USDC, and PYUSD, the company supports businesses in handling their treasury and related transactions both within Africa and internationally.

This partnership represents a significant milestone for both companies as they work together to streamline and secure financial operations across Africa. With a shared vision of innovation and excellence, Yellow Card and Fireblocks aim to transform cross-border transactions, offering new benefits to businesses and the broader economy through their innovative approaches.

MTN Nigeria becomes the first African telecom provider to join PMI’s Global Executive Council, driving industry innovation. (Image source: Adobe Stock)

MTN Nigeria joins PMI Global Executive Council, marking Africa's first telecom firm to gain this recognition and shape global project management standards

George Asamani, MBA, the managing director for Sub-Saharan Africa at the Project Management Institute, awarded the official certificate of membership to Roger Shutte, general Manager of Infrastructure and cloud engineering at MTN Nigeria, recognising the company’s new role on the PMI Global Executive Council.

As a member of this esteemed council, MTN Nigeria now holds the potential to shape the future of project management worldwide. Through the exchange of best practices and valuable insights, MTN will play a key role in driving industry innovation, setting new standards, and fostering transformative change. The contributions of MTN, one of the globe's largest mobile network operators and the leading provider in Africa, will significantly enhance the Global Executive Council's collective efforts to promote excellence and innovation in project management.

This milestone underscores Africa’s growing prominence in the telecommunications sector, with MTN at the forefront of technological advancements and connectivity improvements across the continent. MTN Nigeria’s inclusion in the PMI Global Executive Council not only highlights its leadership but also establishes a new precedent as the first African telecom company to achieve this level of recognition.

AfriLabs joins ITU Development Sector, enhancing its mission to drive innovation and tech growth across Africa with global collaboration opportunities. (Image source: Adobe Stock)

AfriLabs has announced its official acceptance as a member of the ITU Development (ITU-D) Sector

During its session held from June 4-14, 2024, the International Telecommunication Union (ITU) Council formally welcomed AfriLabs into its ranks.

The ITU, a specialised United Nations agency, focuses on information and communication technologies. The ITU-D Sector specifically aims to foster international collaboration and ensure equitable access to telecommunication and information technologies.

AfriLabs’ inclusion in ITU-D marks a significant milestone in its mission to advance innovation, entrepreneurship, and technology development across Africa. This new partnership will allow AfriLabs to engage in global discussions and initiatives that promote digital transformation and sustainable development in the region.

Anna Ekeledo, executive director of AfriLabs, expressed, “We are thrilled to join the ITU as an ITU-D Sector Member. This membership not only validates the efforts of AfriLabs in fostering innovation and technology growth in Africa but also provides us with a unique opportunity to collaborate on a global scale. We look forward to leveraging ITU’s vast resources and network to further our mission of empowering African tech hubs and startups, ultimately driving socio-economic development across the continent.”

Dr Cosmas Luckyson Zavazava, director of the ITU Telecommunication Development Bureau, also welcomed AfriLabs: “I am pleased to welcome AfriLabs as a new ITU-D Sector Member. The AfriLabs’ vast network of technology and innovation hubs is aligned with ITU-D’s efforts in building capabilities in innovation and entrepreneurship for its members and will support the development of the African technology and innovation ecosystem.”

AfriLabs’ addition to the ITU-D Sector highlights the critical need to support technology and innovation in emerging markets. With its extensive network of over 450 innovation centers across 53 African countries, AfriLabs will contribute valuable insights and perspectives to ITU’s programs and initiatives.