Author: Gugu Lourie

JSE-listed telco Telkom announced on Monday it was currently engaged in discussions with two bifdders for its mast and towers business, Swiftnet. Telkom said in a statement that it is committed to realising the intrinsic value of underlying businesses that make up the  group. During the previous calendar year, a multi-party sales process commenced following the Board’s approval to affirm and realise the value of Swiftnet through the disposal of the mast and towers business. “Telkom received offers to acquire Swiftnet in its entirety during the last quarter of FY2023,” said the company. “These offers were further refined from shortlisted…

JSE-listed Telkom has started the 2024 financial year with good momentum, said its CEO Serame Taukobong. Telkom said group revenue increased by 3.8% driven by the continued uptake of its new generation network (NGN) products by customers as well as increased data traffic. “We focused on offering attractive value propositions to customers in our Mobile business which increased subscribers and data usage, while the focused smart deployment of fibre infrastructure saw Openserve sustain growth in all three NGN customer segments ‘ broadband, carrier and enterprise,” said Taukobong. “We are pleased that cost savings from our recent labour restructuring process offset…

JSE-listed technology group Altron said on Wednesday that profit improvement strategies are starting to show meaningful benefits, particularly in Netstar and Altron Systems Integration, the largest businesses in the group. The purpose of the reviews on continuing operations was to ensure each operation is aligned to the group’s new strategy and has performance optimisation plans in place to grow revenue and improve operating leverage. “Pursuant to these business reviews, targeted operating models are being executed in each operation, with early leading indicators highlighting strong year-to-date performance, with all operations on track to achieve their growth objectives,” said Altron. Altron added…

JSE-listed retailer Shoprite, which also owns Checkers and Boxers, is spending a lot of money to survive load shedding. The retailetr said whilst it remained encouraged by continued customer growth and continued market share gains, it was faced with several challenges imnpacting its performamnce. Shoprite said it remained resolute in terms of its commitment to lower-prices and value for customers during the second half period. “As such, the Group’s full year gross margin will be lower than that reported last year (restated 2022: 24.5%), however the decline is expected to be less than the gross margin decline reported in our…

If you’ve ever wondered how to make your money work harder for you, you’re in the right place. Compound interest has the magical ability to turn modest savings into a substantial nest egg over time. This article unveils the best tips to leverage this financial phenomenon effectively. Whether you’re just starting your financial journey or looking to optimize your existing investments, these proven strategies will pave the way for a prosperous future. Plan, save, and invest are the best way to reach your financial goals. Use these tips to get started: Take Advantage of Retirement Accounts If you want to…

Vodacom announced on Friday that its revenue climbed 36.9% to R35.7 billion for the qaurter to end-June 2023, lifted by Vodafone Egypt and financial services. The Vodafone-owned company completed the acqusition of Vodafone Egypt acquisition in December 2022, presents a unique opportunity to advance the company’s multiproduct strategy, called the System of Advantage. This strategy aims to deliver diversified, differentiated offerings to our customers, further strengthening and growing its relationships with them. Group service revenue grew 43.8% in the quarter to almost R29 billion, positively impacted by the acquisition of Vodafone Egypt and rand depreciation of almost 20% against our…

Vodacom today announced that its super-app VodaPay has reached 6.7 million downloads in the quarter ended 30 June 2023. “Our super-app, VodaPay, reached 6.7 million downloads and launched free deposits and added ‘send money’ and cash-out services in the quarter,” Vodacom informed investors on Friday. The super-app VodaPay still has 3.3 million registered users. VodaPay provides a digital shopping, lifestyle and financial platform for consumers and businesses. During the quarter, Vodacom launched free deposits and added ‘send money’ and cash-out services, allowing customers to deposit and withdraw funds from their VodaPay digital wallets. Deposits and withdrawals can be made at…

Eskom today announced the departure of its former chief operating officer Jan Oberholzer from the energy group. Eskom said in a brief statement that it parted ways with Oberholzer by mutual agreement. His last day with Eskom will be 31 July 2023. Oberholzer was on a fixed-term contract to provide support to the Koeberg Nuclear Power Station long-term operation (LTO) and Kusile Power Station projects, said Eskom. “Eskom expresses gratitude to Mr Jan Oberholzer for his dedicated service, expertise and valuable contributions during his tenure. We wish him well in his future endeavours.”

Former Telkom CEO Sipho Maseko is threatening to walk away from buying a controlling stake of the partially state-owned telco. Sunday Times’ Business Times reported today that Maseko is now looking for opportunities elsewhere and will not revised the offer submitted by his consortium to buy Telkom. The consortium comprises Maseko’s Afrifund, Axian Telecom and the Government Employees Pension Fund, managed by the Public Investment Corporation (PIC). “We are definitely walking away. The board has made it clear that they are not willing to engage with us at all,” Maseko told Sunday Times Business Times. He added that the consortium…

“It is our hope that this Huawei Innovation Centre will be a springboard for the launch of new local ICT enterprises that create jobs,” said President Cyril Ramaphosa. Speaking at the opening of the Huawei Innovation Centre at Woodmead in Huawei’s Office Park, Ramaphosa added that government hoped the centre would be a springboard for new business processes that would grow SA ‘s economy and support national development goals. The centre brings together Huawei’s various business units in a hub for collaboration with local partners, app developers and ICT-focused SMEs. He said the opening of the centre is a sign…