Visa Study Shows 77 Percent Of South Africans Use AI To Shop As Digital Fraud Concerns Rise In 2026

South Africa’s digital commerce landscape is rapidly evolving as a new study by Visa reveals that 77 percent of consumers now use artificial intelligence tools to support their shopping decisions, even as trust remains a major barrier at the point of checkout in 2026. The findings, based on research conducted with Wakefield Research, highlight a shift toward AI-assisted shopping, social commerce growth, and heightened consumer awareness of online fraud risks.

The report shows that AI is now widely used for practical shopping support, with most consumers relying on it to compare prices, review product feedback, and generate gift ideas. A significant majority also believe digital tools have made online shopping faster and more convenient, while many users say AI helps them discover new brands and retailers during browsing. However, confidence drops sharply when it comes to allowing AI systems to complete purchases automatically, reflecting ongoing concerns around transaction security and control.

According to Brandspur Marketing & Media, the findings underline a widening gap between consumer adoption of AI-driven discovery tools and reluctance to fully delegate financial decisions to automated systems, particularly in emerging digital markets where fraud exposure remains high.

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The study further shows that social commerce has become mainstream in South Africa, with a majority of consumers having purchased goods directly through social media platforms. Despite this growth, scam exposure remains a serious concern, with a notable share of respondents reporting recent experiences of financial fraud, particularly on social networks where deceptive adverts and fake sellers are more prevalent.

Children’s exposure to online scams is also emerging as a growing issue, with many parents reporting that younger users struggle to identify fraudulent activity while gaming or shopping online. A sizeable portion of households also indicate that children now have access to digital wallets or mobile payment tools, increasing the need for stronger safeguards and parental oversight.

Consumers increasingly expect financial institutions, payment providers, and retailers to take primary responsibility for fraud prevention, rather than relying on individual vigilance alone. Most respondents say they would feel more secure with real-time transaction alerts and familiar trust signals at checkout, reinforcing demand for stronger authentication and visible security indicators across digital payment platforms.

South African Youth Media Habits Defy Digital-Only Narrative in Latest 2026 Survey Findings

A new consumer study has challenged long-held assumptions that young people in South Africa consume content exclusively through digital platforms, revealing instead that the 18–24 age group engages with a wide mix of media channels, including print, digital outlets, social platforms and in-store information sources. The findings suggest that Gen Z audiences are far more platform-flexible than widely believed, moving across different media environments depending on context, purpose and purchasing decisions.

Data from a national consumer insights survey shows a steady rise in print media engagement among young audiences, with newspaper readership among 18–24-year-olds climbing significantly between 2022 and 2025. When online editions of newspapers are included, more than half of young consumers now access local news brands. The study also recorded notable growth in engagement with established publications, indicating that traditional media still maintains relevance within youth information habits despite the dominance of digital platforms.

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Brandspur Brand News reports that the research further highlights a more complex consumer decision-making journey among young people, where print materials used at home and in retail environments rank among the most influential sources of shopping information, alongside online search and social media. The findings also show that print advertising is perceived as comparatively more useful and less intrusive than several digital and broadcast alternatives, with television and social media ads recording lower usefulness scores despite higher exposure levels.

Overall, the report points to a multi-channel reality where young consumers combine offline and online touchpoints throughout their media and shopping journeys. It also notes that advertisers increasingly rely on integrated audience targeting systems to reach this demographic across both print and digital ecosystems, as brands shift focus from single-platform strategies to broader, cross-media engagement models designed to reflect actual consumption behaviour.

Bolt Expands Rider Identity Verification Nationwide In South Africa 2026 To Strengthen Ride-Hailing Safety

Ride-hailing platform Bolt has expanded its rider identity verification system across South Africa in 2026, introducing a nationwide rollout designed to strengthen passenger safety, improve platform accountability, and support compliance with the country’s National Land Transport Act. The move is part of a broader safety upgrade targeting trust and security across the e-hailing sector, particularly for daily commuters, students, and night-time travellers.

The verification system requires users to input a valid national identification number and complete a facial selfie check within the app. In most cases, identity confirmation is processed automatically through a secure verification partner linked to national population records, while failed checks trigger a secondary manual document review. The rollout, currently voluntary in some regions, is being phased into mandatory adoption nationwide to ensure full platform compliance and improved user authentication.

According to Brandspur Marketing & Media, the expansion reflects growing regulatory pressure and rising commuter expectations for safer digital mobility services across African cities, where ride-hailing demand continues to increase rapidly.

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User safety data highlighted by the company shows that 90 per cent of commuters prefer ride-hailing due to perceived safety advantages, while 92 per cent feel more secure when using such services at night. A further 96 per cent of respondents say in-app safety tools significantly improve their confidence when travelling, with women accounting for about 70 per cent of the platform’s user base in South Africa.

To further enhance protection, the platform continues to promote in-app features such as real-time GPS tracking, trip-sharing functions, driver verification checks, ride monitoring alerts, and emergency assistance tools. These systems are designed to provide layered safety support before, during, and after each trip, particularly for vulnerable or late-night users.

The company also operates a female-focused service option that allows women riders to request trips with female drivers, aimed at improving comfort and reducing safety concerns. In addition, Bolt has committed to a global investment of €100 million between 2024 and 2027 to strengthen safety infrastructure, expand education campaigns, and improve coordination with regulators and enforcement agencies.

FCCPC And CBN Approve 457 Loan Apps In Nigeria 2026 As Government Tightens Digital Lending Regulation Nationwide

Nigeria’s digital credit market has entered a new phase of strict regulatory oversight as the Federal Competition and Consumer Protection Commission (FCCPC), in collaboration with the Central Bank of Nigeria (CBN), confirms the approval of 457 loan applications to operate legally across the country in 2026. The latest regulatory update also places 35 platforms under conditional approval, while 103 unregistered loan apps are currently being monitored on a watchlist for potential sanctions, including delisting from digital platforms, financial penalties, and possible prosecution.

The enforcement drive follows the expiry of the January 5, 2026 compliance deadline under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, which now formally brings all app-based and online lenders under a unified regulatory framework.

The new regulatory regime introduces far-reaching obligations for digital lenders, particularly in the areas of consumer protection, transparency, and ethical debt recovery. Operators are now required to clearly disclose interest rates and repayment terms, safeguard customer data, and ensure that loan recovery processes do not involve harassment, intimidation, or public shaming of borrowers.

The FCCPC has also empowered enforcement mechanisms that impose severe consequences for violations, with fines reaching up to N100 million or 19 percent of annual turnover, alongside the possibility of director disqualification for up to five years.

These measures are aimed at addressing long-standing complaints linked to aggressive lending practices that previously characterised parts of the unregulated digital loan market.

The regulatory overhaul reflects Nigeria’s attempt to stabilise an industry that has grown rapidly due to rising demand for instant credit among individuals, traders, and small businesses. Digital lending platforms have become a key financial lifeline for many Nigerians who are excluded from traditional banking services, offering quick disbursement without collateral or lengthy documentation.

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However, the sector’s expansion has also raised concerns around over-indebtedness, hidden charges, data privacy breaches, and unethical recovery tactics. According to Brandspur Banking News Desk, regulators are intensifying monitoring efforts to ensure compliance across the hundreds of approved operators, although industry stakeholders continue to question the capacity of enforcement agencies to maintain consistent oversight at scale.

Several major fintech and microfinance-backed platforms dominate the approved ecosystem, including FairMoney, PalmCredit, Carbon, Renmoney, Branch, Okash, Aella Credit, QuickCheck, EaseMoni and Newcredit.

Many of these platforms operate under licensed microfinance banking structures and are required to comply fully with CBN operational guidelines, particularly around responsible lending and customer data protection.

For consumers, regulators have emphasised the importance of due diligence before engaging any digital lender. Borrowers are advised to confirm that loan apps are registered on the FCCPC-approved portal, carefully review repayment terms, and avoid taking multiple simultaneous loans that could lead to debt cycles. Warning signs such as unclear interest structures, excessive access to personal contacts, and reports of harassment are being highlighted as red flags that users should avoid.

The FCCPC has also strengthened its complaint resolution channels, encouraging victims of unethical lending practices to document evidence and file formal reports for investigation.

As Nigeria’s digital lending ecosystem continues to expand, the combination of stricter enforcement, clearer compliance requirements, and heightened consumer awareness is expected to reshape the sector. While access to instant credit remains a vital support system for millions of Nigerians, regulators maintain that sustainable growth will depend on strict adherence to the new rules and improved accountability across all licensed operators.

Yellow Card Earns Spot On Fortune Crypto Innovators List In Major 2026 Global Recognition

Yellow Card has been named among the world’s leading digital asset companies after securing a place on the inaugural Fortune Crypto Innovators list, a recognition that highlights organisations advancing blockchain technology, digital payments, and financial infrastructure across global markets.

The achievement positions the Africa-founded company alongside prominent players shaping the future of the cryptocurrency ecosystem. The Fortune Crypto Innovators ranking was introduced to recognise firms driving meaningful progress through innovation, technology development, security, and the expansion of digital asset adoption worldwide.

The recognition comes as Yellow Card continues to broaden its presence beyond Africa, strengthening operations across emerging markets in Latin America and Southeast Asia while expanding its Stablecoin-focused financial infrastructure offerings. The company has increasingly positioned itself as a provider of cross-border payment and settlement solutions designed to support businesses operating in rapidly growing economies.

According to Brandspur Banking News Desk, the latest recognition underscores Yellow Card’s growing role in connecting businesses in emerging markets to the global financial system through digital asset infrastructure that simplifies access to Stablecoins and blockchain-powered payment networks.

Over the years, the company has evolved from a regional operator into a global infrastructure platform serving institutions, fintech firms, and payment providers. Its technology enables businesses to manage digital asset transactions, local currency settlements, custody services, and other financial operations without requiring deep technical expertise in cryptocurrency systems.

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Yellow Card’s expansion strategy has also been supported by partnerships with major international payment and financial services organisations, helping to strengthen its position within the evolving digital finance landscape. These collaborations have enhanced access to payment rails and improved connectivity between traditional finance and blockchain-based systems.

Industry analysts view the growing adoption of Stablecoins as one of the most significant developments in global payments, particularly in emerging economies where businesses increasingly seek faster, more efficient, and cost-effective methods of moving funds across borders. Companies operating in this segment are attracting greater attention from investors, regulators, and financial institutions worldwide.

The Fortune recognition arrives at a time when demand for digital payment infrastructure continues to rise across developing markets. As businesses seek alternatives to conventional cross-border settlement systems, providers offering secure and compliant blockchain-based solutions are becoming increasingly important to international trade and financial inclusion efforts.

For Yellow Card, the latest accolade reinforces its status as one of Africa’s most prominent fintech success stories while highlighting the growing influence of emerging-market innovators within the global digital asset industry. The company is expected to continue investing in technology, regulatory compliance, and international expansion as it seeks to deepen its footprint across key growth markets in 2026 and beyond.

Kenya Layer Farmers Face Rising Losses As Egg Production Drops Despite Strong Demand In 2026

Layer poultry farmers across Kenya are recording lower-than-expected egg output, with industry experts attributing the decline largely to management deficiencies rather than disease outbreaks, creating fresh concerns for producers seeking to meet growing consumer demand.

The challenge is affecting both small-scale and commercial poultry operations, many of which have invested heavily in egg production but are now struggling to maintain profitability as flock productivity weakens. Despite healthy market demand for eggs across the country, reduced output is limiting earnings and increasing operational pressure on farmers.

Agricultural specialists say nutritional shortcomings remain one of the most significant factors behind falling egg production. Birds that do not receive adequate levels of essential nutrients, particularly protein and calcium, often produce fewer eggs and may experience shell quality problems that increase losses during handling and distribution.

According to Brandspur Brand News, poultry management experts have also highlighted poor lighting programmes as a major contributor to declining productivity. Inadequate daily light exposure can disrupt laying cycles and reduce the consistency of egg production, even among otherwise healthy flocks.

Industry stakeholders further point to overcrowding, excessive disturbances, and predator-related stress as hidden factors affecting bird performance. Poultry producers are being encouraged to maintain suitable stocking densities and create stable housing environments that minimise unnecessary stress on laying hens.

Housing conditions have also emerged as a critical area of concern. Poorly maintained nesting spaces can discourage normal laying behaviour, leading to lower collection rates and higher incidences of egg breakage. Experts recommend clean, comfortable nesting areas and improved flock management practices to maximise productivity.

Rising temperatures and inadequate ventilation have compounded production challenges in many poultry farms. Heat stress can reduce feed consumption and interfere with egg formation, while limited airflow worsens environmental conditions inside poultry houses. Farmers are therefore being advised to improve ventilation systems and guarantee continuous access to clean drinking water.

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Industry analysts note that flock age and breed selection also play an important role in determining productivity levels. Older birds naturally produce fewer eggs over time, while some breeds are better suited to intensive egg production than others. Proper flock replacement strategies are increasingly being viewed as essential for maintaining commercial viability.

Water management remains another area requiring greater attention. Consistent access to clean water is vital for egg formation and overall bird performance, yet many farmers continue to underestimate its importance. Interruptions in water supply can quickly result in lower egg output and reduced flock efficiency.

Despite the current challenges, Kenya’s poultry industry continues to offer significant opportunities for income generation, food security, and employment creation. With egg consumption remaining strong and urban demand expanding, experts believe farmers who adopt improved management practices will be better positioned to benefit from the sector’s long-term growth potential.

As competition intensifies across the poultry value chain, producers are being encouraged to prioritise quality feed, proper housing, effective flock management, and routine veterinary support to sustain productivity and protect profitability in one of East Africa’s most important agricultural industries.

CBN Shared Services Rule May Raise Costs For Access, GTCO, First Holdco In Latest 2026 Banking Overhaul

Nigeria’s leading financial holding companies, including Access Holdings, Guaranty Trust Holding Company (GTCO), and First Holdco, are facing a significant increase in operating expenses following a new regulatory proposal by the Central Bank of Nigeria (CBN) that restricts the use of shared services across subsidiaries.

Under the exposure draft released on June 10, the apex bank seeks to limit the services that holding companies can centrally provide to subsidiary businesses. The proposal removes key functions such as compliance, risk management, internal audit, and company secretariat services from the list of activities that can be shared across a group structure, requiring each subsidiary to establish and manage those functions independently.

The proposed framework is designed to strengthen corporate governance, improve regulatory oversight, and ensure that subsidiaries operate with greater independence. According to Brandspur Banking News Desk, the policy would permit holding companies to provide only selected support services, including office facilities, security, cleaning, legal services, and information technology support, subject to prior regulatory approval.

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If implemented, the new requirements could substantially increase personnel and administrative costs across Nigeria’s banking groups. Subsidiaries operating under financial holding companies would be required to recruit dedicated compliance, audit, and risk management teams instead of relying on centralised group structures that currently serve multiple entities.

Industry observers note that the changes could have a particularly strong impact on smaller subsidiaries, including microfinance institutions, insurance businesses, and pension operators within larger financial groups. Maintaining separate governance and control functions may place additional financial pressure on these businesses and could influence future restructuring decisions within the sector.

The proposal also introduces stricter arm’s-length requirements for services provided between holding companies and subsidiaries. In addition, financial groups would be expected to conduct regular value-for-money assessments to ensure that approved shared services remain transparent and commercially justified.

For customers, the development has raised concerns about the potential impact on banking costs. Higher operating expenses could place pressure on financial institutions to review service charges, lending rates, and other fee-based products as they adjust to the new regulatory environment. However, the final impact will depend on how individual institutions respond and whether the proposed rules are adopted in their current form.

The latest CBN move reflects broader efforts to strengthen governance standards within Nigeria’s financial system as regulators seek to reduce operational risks and enhance accountability across increasingly complex financial groups. The proposal remains subject to industry review and stakeholder feedback before any final implementation decision is announced.

Japan’s Central Bank Increases Interest Rate To 1% To Combat Inflation

Japan’s central bank has increased its benchmark interest rate to 1%, marking the highest level in more than three decades as policymakers intensify efforts to contain rising inflation and stabilise the economy amid persistent global energy market pressures.

The decision by the Bank of Japan (BOJ) raises the policy rate from 0.75% and represents the latest step in the country’s gradual shift away from the ultra-loose monetary policies that defined much of the past two decades. The new rate level has not been seen since 1995, underscoring the scale of the policy transition now underway in the world’s fourth-largest economy.

The move comes as several central banks around the world continue to grapple with inflation risks linked to higher energy costs and geopolitical tensions. According to Brandspur Banking News Desk, Japan’s policymakers believe inflationary pressures are becoming more entrenched, prompting a stronger response despite concerns about economic growth.

For years, Japan maintained near-zero interest rates to combat deflation and weak domestic demand following the collapse of its asset bubble in the 1990s. However, rising import costs, particularly for fuel and energy, have contributed to stronger price growth, forcing authorities to reassess their long-standing monetary stance.

Recent economic data showed wholesale prices in Japan rising at their fastest pace in three years, reflecting mounting cost pressures across the economy. While headline inflation remains below the BOJ’s long-term 2% target, officials have signalled growing concern that inflation expectations among businesses and consumers are steadily increasing.

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The central bank also noted that government support measures aimed at cushioning households from elevated fuel costs have helped reduce the immediate economic impact of instability in the Middle East. Nevertheless, policymakers warned that underlying inflation could exceed desired levels if price expectations continue to strengthen.

Financial markets have closely monitored the BOJ’s tightening cycle, particularly because higher interest rates could strengthen the Japanese yen, which has faced sustained pressure against major currencies including the US dollar and euro. A firmer yen could help lower import costs but may also affect export competitiveness.

Despite the latest increase, Japan’s borrowing costs remain significantly lower than those of many advanced economies, where policy rates remain above 3%. Economists view the latest move as part of a broader effort by Japanese authorities to normalise monetary policy after years of extraordinary stimulus while balancing inflation control with economic stability.

The rate hike marks another milestone in Japan’s economic transition, signalling that policymakers increasingly believe the country has moved beyond the prolonged period of deflation that shaped monetary policy for much of the last generation.

Under Mission 300, A New Way Of Doing Business Connects Over 50 Million People To Electricity Across Africa

Mission 300 is now delivering electricity access at nearly double the pace recorded at the initiative’s launch — proof that coordinated action can drive large-scale change

CAPE TOWN, June, 2026 — The World Bank Group and the African Development Bank Group announced today that Mission 300 has connected over 50 million people to electricity across 40 countries — a major milestone toward the initiative’s goal of reaching 300 million people by 2030.

Mission 300 is now delivering electricity access at nearly double the pace recorded at the start of the initiative. By investing across the full energy value chain — from generation and transmission to last-mile distribution — it has driven gains in both on-grid and off-grid access, connecting households, businesses, and institutions to power faster than before.

In Tanzania, for example, 7.5 million people have gained access to power under Mission 300 — a five-fold increase in the average annual pace of electrification prior to the initiative — driven by increased financing and growing policy momentum. In Ethiopia, 4.6 million people have been connected, supported by reforms that made grid connections more affordable.

Where past efforts often worked in parallel, Mission 300 aligns governments, partners, and private sector investors around a single shared agenda. That coordination is what is driving faster results: stronger political commitment, deeper policy reform, and the mobilization of resources needed to accelerate electrification and deliver impact on the ground.

To date, the African Development Bank Group and the World Bank Group have committed nearly $15 billion in financing and attracted about $4.5 billion in co-financing for Mission 300-related projects, while additional development partners have pledged more than $7 billion in support of Africa’s energy sector.

Mission 300’s unique approach is also changing the conditions under which private investors participate in African energy markets. By combining government reforms with layered public financing — including grants, guarantees, and concessional loans — the platform is mitigating risks for private providers to serve communities that were previously too costly or difficult to serve.

In Nigeria, more than 4.5 million people have been connected through private sector-led initiatives, demonstrating how well-designed public support and partner financing can help create commercially viable markets.

To date, 30 countries have launched National Energy Compacts, country-led plans to strengthen energy systems, expand affordable power generation, scale renewable energy solutions, promote regional integration, and increase private sector participation. Additional compacts are expected to be launched by Burkina Faso, the Central African Republic, Djibouti, Gabon, Rwanda and Uganda at the Africa Energy Forum this week.

“Fifty million people connected is a milestone — but the bigger story is the pace and the partnership behind it. Mission 300 is helping countries move faster, connect more people, and build a platform that will last well beyond this effort — one others can use, build on, and scale for years to come. At the end of the day, electricity is not just about power. It is about what it enables: jobs, business, health care, education, and opportunity,” said Ajay Banga, President of the World Bank Group.

“The 50 million milestone is indeed commendable. This must become the launchpad for faster electrification to enhance food security on account of affordable irrigation; increase capacity to store medicines for better health outcomes, and spur more inclusive economic and social empowerment,” said Sidi Ould Tah, President of the African Development Bank Group. “Governments, partners, private sector, and others who comprise what has evolved into an M300 movement must double down to achieve access for 300 million people by 2030. We need all hands on deck – literally!

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Partners are leaning into Mission 300

“Connecting over 50 million to electricity is a major milestone for Mission 300. It proves that African-led big bets, empowered by bold investment and partnership, can deliver results quickly and at scale,” said Rajiv J. Shah, President of The Rockefeller Foundation. “The Rockefeller Foundation, along with the Global Energy Alliance, has committed more than $100 million to Mission 300 because we know that every new connection means a family with new access to the jobs, education, and the dignity they deserve.”

“The 50 million milestone shows that Mission 300 is moving beyond ambition and delivering real results for people across Africa. These achievements reflect the strong political commitment and implementation capacity of African governments,” said Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All. “Together with our partners, Sustainable Energy for All will continue to support governments in implementing their National Energy Compacts and accelerating progress towards universal energy access by 2030.”

“Achieving electricity connections for 50 million people proves that we can move faster when public, private and philanthropic partners align behind country-led solutions,” said Woochong Um, CEO of Global Energy Alliance for People and Planet. “As Africa becomes home to the world’s largest young workforce, Mission 300 is the engine that will help power the jobs and economic growth the continent urgently needs.”

Launched in 2024, Mission 300 is a joint initiative of the World Bank Group and the African
Development Bank Group supported by The Rockefeller Foundation, the Global Energy Alliance for People and Planet and Sustainable Energy for All, and a broad coalition of governments, development institutions, and private sector partners.

Per Narvinger Appointed New President And CEO Of Ericsson As Börje Ekholm Steps Down

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  • Per Narvinger, currently Executive Vice President and Head of
    Business Area Networks, to become President and Chief Executive Officer
    of Ericsson
  • Börje Ekholm to step down on September 30, 2026, and act as
    executive advisor to the new CEO until June 15, 2027
  • The Board of Directors has executed a well prepared and orderly CEO
    succession as part of the Company’s ongoing leadership and governance
    planning

Ericsson (NASDAQ: ERIC) today announces that Per Narvinger has been
appointed President and CEO by the Board of Directors as Börje Ekholm
has decided to step down as CEO of Ericsson.

Per Narvinger joined Ericsson in 1997 and has broad experience from
different areas of the telecoms and ICT industry, including research and
standardization, development, product management, and sales. Narvinger
has worked in various senior leadership roles where he has engaged with
key customers globally. He has also had long-term assignments in
Australia and Spain. Most recently, Narvinger has headed Business Area
Networks since March 15, 2025, and prior to that he headed Business Area
Cloud Software and Services since 2022.

Jan Carlson, Chair of Ericsson’s Board of Directors, says: “The
Board is pleased to announce that Per Narvinger has been appointed CEO
of Ericsson as of October 1, 2026. He has deep technical knowledge of
our industry as well as extensive commercial experience and has proved
himself in several key leadership positions. The Board is very pleased
to welcome Per into this role at a very important time for the
company.”

Per Narvinger says: “It is a great honor to step into this role in a
company where I have spent my entire professional career. It has been a
pleasure working with Börje in our joint efforts to create a stronger
Ericsson. This is a pivotal time in our industry. As AI continues to
industrialize, this will increasingly require advanced connectivity
solutions, an area where Ericsson is leading. With our extraordinary
employees who are cementing technology leadership as a foundation for
success, we will continue to provide great value to our customers. I
look forward to taking up the role as President and CEO of this amazing
company.”

After more than nine years as President and CEO of Ericsson, and 20
years as a member of the Board of Directors, Börje Ekholm will retire
from the Company, stepping down from his role as President and CEO on
September 30, 2026 and thereafter acting as executive advisor to the new
CEO until June 15, 2027. He will also step down from the Board of
Directors as of October 1, 2026.

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The Board of Directors has executed a well prepared and orderly CEO
succession as part of the Company’s ongoing leadership and governance
planning.

Jan Carlson says: “Börje’s tenure as CEO of Ericsson is defined by
extraordinary leadership and strategic advancements. During his almost
10 years as CEO, we’ve seen Ericsson solidifying its position as the
leading provider of trusted communications networks. Today, Ericsson’s
global market position is stronger than ever thanks to his strategic
vision and global leadership. Börje has challenged traditional thinking
and has positioned the company for long-term success. I would like to
extend my and the entire Board’s gratitude to Börje for his
efforts.”

Börje Ekholm comments his departure: “When I stepped in as CEO in
2017, the company faced considerable headwinds. Since then we have
turned Ericsson around and emerged as a global communications and
technology leader. Today, Ericsson is driving the transformation of
mobile connectivity by changing how networks are used and
commercialized, and we are leading the industry into the next stage of
AI: the physical AI era. It is our ability to innovate, to adapt and to
compete globally that continues to define us. With Per Narvinger as CEO,
Ericsson will have the right leader to continue developing this great
company. I want to thank the Board, my Executive Team and all of my
great colleagues at Ericsson.”