Author: Gugu Lourie

Telkom August Big Deal has been revealed. The company is offering a SmartBroadband Wireless deal for R249 a month on a 24-month contract and comes with an LTE WiFi router. The deal also includes: 20GB Telkom anytime data per month 20GB night surfer data per month (Night Surfer Data shall be valid between 12 am – 7 am) Customers on SmartBroadband Wireless 20GB offer are eligible to add a LIT TV box at an additional amount of R50pm x 24 months. Included in this August deal the ability to receive 3 months of Netflix on Telkom. Telkom said it reserve…

JSE-listed pay-TV group Multichoice has today published its integrated annual report detailing the salaries of its top executives. MultiChoice Group includes MultiChoice South Africa, MultiChoice Africa, Showmax Africa, and Irdeto. The company competes with global video-on-demand players like Netflix, Amazon, Facebook and iFlix continuing to offer alternatives in our territories. In the pay-TV market, operators such as StarSat, ZAP TV, Zuku TV and Azam TV all have the necessary broadcasting knowledge and experience to compete with MultiChoice. Improved mobile broadband penetration also facilitated growing competition in the provision of OTT services with the entry of StarTimes ON, iRoko TV, Cell…

Online sales are booming at South African supermarket chain Shoprite Holdings, which also owns the Checkers chain of supermarkets. Shoprite on Tuesday published a trading update for the six months to June 2019 showing online sales, which includes Click & Collect orders and its on-demand liquor home delivery partnership has swelled 386% with rapid customer acceptance. Excluding hyperinflation, Africa’s biggest retailer Shoprite reported a 3.2% (0.1% like for like) increase in turnover to R150.6 billion in the period to June 2019. Shoprite’s supermarkets increased the number of customers served by 2.3% and product volumes sold by 1.2%. Including the impact of the Angolan…

MTN Nigeria today announced that its subsidiary, Yello Digital Financial Services Limited (YDFS) has been granted a full Super Agent Licence by the Central Bank of Nigeria. The Super Agent licence enables the scale launch of MTN Nigeria’s FinTech strategy. This is part of the South African-based company’s plant to “be the largest bank in Africa” in the next three to four years. The company has also appointed Yolanda Cuba as Group Chief Digital and Fintech Officer. Cuba will join the MTN Group Executive Committee reporting to the Group CEO Rob Shuter. In this role, Cuba will lead the Group’s strategic…

Nigeria, MTN’s largest market by subscribers, attracted 3.3 million subscribers in the six months to end-June 2019. The South African-based firm announced on Friday that its Nigerian operation now has 61.5 million customers. The operation was launched in 2001. MTN Nigeria is part of the MTN Group – a multinational telecommunications group which operates in 21 countries in Africa and the Middle East. Two months ago, MTN made history as the first mobile telephone company to trade on the Nigerian Stock Exchange (NSE). MTN is now the second biggest Nigerian company listed on the NSE. Dangote Cement Plc owned by…

South Africa’s Telkom has cut the compensation of CEO Sipho Maseko for the 2019 financial year. In an integrated annual report, the company said it has paid Maseko a total package of R23 million in 2019 versus R27 million in 2018 financial year. The total package comprises of R8.2 million basic salary, a short-term incentive bonus of R7 million, a long-term incentive bonus of R5.3 million and R2 million in the dividend paid on unvested shares. Maseko, who has spearheaded Telkom’s turnaround, was appointed on 1 April 2013. “I have been fortunate to have a supremely talented, committed and engaged…

The Development Bank of Southern Africa (DBSA) has launched a competition aimed at getting young people in the country to come up with solutions to some of South Africa’s infrastructure challenges. ​Called the DBSA Youth Challenge, the competition invites entrants aged 18-35 to submit innovative development ideas that address infrastructural needs across various sectors. The winning submissions will attract a total of R1.5 million in prize money. The DBSA sees the competition as an opportunity for young people to have a voice and participate in the economy, thereby bringing them from the margins to the centre. With technology making it…

Despite recent volatility in the Bitcoin price, it has risen almost 30% in a year. You might be wondering how to start buying Bitcoin. You may be feeling brave and want to try a new type of investment which has the potential to form the backbone of a new financial system. The first thing you need to know, is you don’t need to buy a whole Bitcoin currently valued at over R146 000. Marius Reitz, GM for Africa of Luno, South Africa’s leading cryptocurrency exchange, explains that you can invest any amount from R20. With more than 2000 cryptocurrencies in…

For South Africa, the contact centre industry is dominated by multinational contact centres. One local contact centre firm is taking a different approach, aiming to make a difference in this country. Empowered Outsource (EOS) opened its doors in 2018 with an ambitious goal to create a boutique type of contact centre founded in South Africa, run by South Africans, owned by South Africans and driven to make a difference in the life of its employees, the vast majority of whom are the youth of our country, as well as customers. There are currently thousands of business process outsourced (BPO) contact…

Yolanda Cuba, who resigned as Vodacom’s Chief Officer responsible for Strategy, M&A and Business Development, has been placed on garden leave with immediate effect. Yesterday, TechFinancials exclusively reported that Cuba is leaving Vodacom after a five-year stint at the Vodafone-owned mobile phone company. Later on the day, MTN announced that Cuba was joining the mobile phone operator as Group Chief Digital and Fintech Officer, reporting to the Group CEO Rob Shuter. Asked whether Vodacom has not activated a restraint of trade on Cuba, Vodacom spokesperson Byron Kennedy, said: “Vodacom can confirm that Yolanda Cuba is currently serving out a six…

MTN Group today announced the appointment of Yolanda Cuba as Group Chief Digital and Fintech Officer. Cuba will join the MTN Group Executive Committee reporting to the Group CEO Rob Shuter. In this role, Cuba will lead the Group’s strategic expansion of its financial services and digital solutions efforts and transformation into a digital operator. She replaces Stephen Van Coller. who resigned last year to be the boss of troubled JSE-listed technology group EOH. Cuba brings extensive telecommunications and leadership experience to MTN Group. She joins MTN Group from Vodacom, where she served as Chief Officer of Strategy and M&A.…

A top executive who joined Vodacom just five years ago is leaving the mobile phone group, TechFinancials has learned. Yolanda Cuba, the Chief Officer of Strategy and M&A of Vodacom Group, has tendered her resignation with immediate effect, a source familiar with her exit told TechFinancials on Tuesday. Cuba is a high-flyer in her field, having spent three years in Ghana as CEO for Vodafone, where she was named as the Telecom CEO of the Year in 2018. Also a former CEO of defunct JSE-listed behemoth Mvelaphanda Group, and chief strategy of SABMiller local unit. Vodacom spokesperson Byron Kennedy confirmed…

Afrihost announced on Tuesday it was relaunching its fibre product as Pure Fibre – a simple, powerful fibre solution that does everything and doesn’t break the bank. “The best part about Pure Fibre is that it is uncapped, unshaped, unthrottled and unmetered,” Gian Visser, Afrihost CEO, said. “That means there are no thresholds, no hidden terms and the performance of the product will never change according to how much you use.” The specials went live today. The Internet Service Provider is offering customers that orders its fibre through (or migrates to it) up to R5,000 in value when they sign…

An ENSafrica report has revealed evidence of a number of governance failings and wrongdoing at EOH. Following submission of a forensic report and its recommendations to the board of directors of EOH, the company said its board has assessed the findings of the ENSafrica report and has prepared an interim update on the forensic investigation The report by the law firm unearthed wrongdoings including unsubstantiated payments, tender irregularities and other unethical business practices. The wrongdoings are primarily limited to the public sector business centralised in EOH Mthombo and to a limited number of EOH employees, the company said. Suspicious transactions…

We are entering a digital, intelligent, and fully connected era where everything will be sensing, connected, and intelligent. As part of its plans to respond to this technological revolution, Huawei wants to make digital services more affordable and equally accessible to all. “Huawei has been creating value for its customers through innovation. We are doing everything we can to bridge the digital divide and meet the world’s needs for connectivity,” Liang Hua, Chairman of Huawei, said. “We want to make digital services more affordable and equally accessible to all, and to do our part in contributing to social and economic…

VC4A is looking for 10 innovative, high-growth scale-ups to showcase at Africa Early Stage Investor Summit on Nov 13-14 in Cape Town. Are you operating in Africa, generating revenue and looking to raise your Series A round in the range of $250 00 and $5 million (R69.6 million)? VC4A is looking for you. The applications are closing on 31 July. The initiative is called ‘VC4A Venture Showcase – Serie A’. This is an exclusive opportunity to introduce your company at once to everyone who’s anyone in Africa’s early-stage investment space. In 2017-2018, VC4A showcased 30 scale-ups from across the continent as…

JSE-listed Blue Label Telecoms has moved to reassure investors about the concerns about Cell’s prospects. Blue Label Telecoms, the biggest shareholder in Cell C, said that no material concerns or issues have been uncovered as a result of Cell C’s new management conducting a deep dive into the business practices of Cell C in a drive for efficiencies. “This is an on-going process and shareholders will be updated as progress is made.” On Wednesday, it emerged that Cell C’s management has finally accepted (publicly) that the company faces financial and other challenges. The struggling mobile phone operator is planning to implement…

The shares of JSE-listed technology group Blue Label Telecoms fell by as much as 15% in early trade on Thursday, as concerns around the latest development in the mobile phone operator Cell C battered sentiment. By 1136 am, Blue Label Telecoms was down 10.3% at R3.50 pushing the company’s market cap to R3.5 billion. The company’s shares have dropped 27% year-to-date and fell 17% in the past 30 days. Blue Label Telecoms owns 15% in Cell C, which has been a drag on its share performance. On Wednesday, it emerged that Cell C’s management has finally accepted (publicly) that the…

JSE-listed pay-TV group Multichoice has appointed Jabu Mabuza and Dr Fatai Adegboyega Sanusi as independent non-executive directors. Their appointment is effective from 5 July. Mabuza was recently appointed as the chairman to the board of Sun International. He was previously the Group CEO and later the Deputy Chairman of Tsogo Sun. He recently retired as chairman of Telkom SA and as president of Business Unity South Africa. Mabuza currently serves as the chairman of various companies including Anheuser – Busch InBev / SAB Miller – Africa, the Casino Association of South Africa and Eskom. Outside South Africa, Jabu has served…

Transport Minister Fikile Mbalula says the government would find a solution to the prolonged e-tolling impasse. Mbalula was addressing the 38th annual Southern African Transport Conference (SATC) in Pretoria. His utterances followed the spat on social media between Gauteng Infrastructure Development and Property Management MEC Tasneem Motara, Premier David Makhura and Finance Minister Tito Mboweni regarding the controversial e-tolls. “The President has established a task team, led by myself, about the options on the table. A report will be tabled before him and from there will be given to the Cabinet,” he explained. “We know that there are robust views…

JSE-listed technology group Datatec has acquired Mars Technologies for an undisclosed amount. The acquisition was facilitated via Logicalis SA, a subsidiary of Datatec. Mars Technologies, an IT services business, has offices in Cape Town, Johannesburg, Port Elizabeth, Durban and East London employing 76 staff. It delivers Managed IT services ranging from the remote monitoring of networks and servers, managed desktop, anti-virus, cloud backup, and printers, to full outsourcing, targeting small and mid-market enterprises. Software solutions and application development complement the services offering. With the acquisition, the Logicalis South African operation strengthens and expands its managed services business in IP telephony,…

PayU, Naspers’ global FinTech company, is expanding into Southeast Asia after it announced a deal to buy a majority stake in Singapore-based Red Dot Payment. PayU has acquired a majority stake in Red Dot Payment in a transaction valuing the company at $65 million (R million). The founder will continue to retain a stake in the company, while the majority of other shareholders will exit. Evolve Capital Asia acted as the exclusive financial adviser to the Founder and selling shareholders. According to one Google-Temasek study, Southeast Asia is one of the fastest growing digital payments markets in the world and is expected…

Naspers has appointed Phuthi Mahanyele-Dabengwa to the global Naspers management team as CEO, South Africa. Mahanyele-Dabengwa to report to Bob van Dijk, Group CEO of Naspers. She will be based in Johannesburg to lead the group’s day-to-day business in South Africa and represent its interests in country. Mahanyele-Dabengwa will also be responsible for Naspers’ recently announced units, Naspers Foundry and Naspers Labs, which are designed to help stimulate the South African tech sector and tackle youth unemployment, respectively. Naspers is one of the foremost investors in the South African technology sector and is committed to building its existing internet and…

A South African cyclist has been cycling from London to Istanbul to raise awareness and funds for autistic and neurodiverse children in South Africa. Grant Cameron-Smith, a South African, has been cycling from London since 18 March 2018. Yesterday, he arrived in Istanbul, Taksim square at 11 am. He is known as the ‘CrazyBikeGuy’ and this is no surprise as he took on his arduous 8,800+ km unsupported, solitary charity mountain-bike ride from London to Istanbul that he started in March 2019. This solo journey has never been done by any cyclist to raise funds and awareness for autism. The…

South African healthcare company Netcare And Founders Factory Africa (FFA) have joined forces to design, build and scale over 35 healthcare startups across Africa. FFA, the Johannesburg-headquartered, corporate-backed tech accelerator and incubator, and Netcare, will provide a platform for entrepreneurs to build and scale health-tech startups across Africa. The partnership includes an investment of an undisclosed amount by Netcare in FFA. Entrepreneurs can apply for the Founders Factory accelerator programme to build a new concept from scratch. A full-time team of over 40 digital and technical experts across Johannesburg, Nairobi, Lagos and London will build and grow the startups across Africa.…