Author: Gugu Lourie

JSE-listed Etion is considering selling off business units to create shareholder value for its investors. The diversified digital technology company did not specify how much it hopes to raise from asset sales. In  August, Teddy Daka, the boss of Etion, told TechFinancials that is looking to take the company internationally as he aims to cut business risks associated with slower growth in South Africa. The firm, which is seeking expansion opportunities in Latin America and South-East Asia, informed investors on Wednesday that its board had initiated an investigation into various options available to Etion to unlock value for its shareholders.…

Finance Minister Tito Mboweni on Wednesday said that the South African government will spend an additional R6.8 billion to finance the R350 COVID-19 grant for the jobless, hard hit by the coronavirus pandemic. Tabling his Medium-term Budget Policy Statement, Mboweni said the special COVID-19 Social Relief of Distress grant reached six million people. Mboweni added that the cabinet has decided to extend the Social Relief of Distress grant to the end of January 2021. “Because this grant is so effective in reaching the unemployed, we propose to redirect R6.8 billion from the public employment programme allocation,” he said. “The temporary increases in…

The new S-Class is described by Mercedes-Benz as a luxury saloon that does full justice to its innovative tradition. “The new generation will once again set the pace in the automotive industry: The S-Class offers trailblazing innovations in all areas, from safety and comfort to efficiency,” Prof. Dr. Uwe Ernstberger, Head of S-Class and C-Class model series product group, explains. “One common theme is systematic digitalisation, both during the development process and in the vehicle itself. Intelligent networking of different systems gives our customers tangible added value.” In short, this luxury saloon does a great job of showcasing new technology. The new Mercedes-Benz…

The new Jaguar E-PACE has a more assertive stance and luxurious appearance plus is connected to various technology solutions. The 2020 E-Pace follows on from the recently overhauled XE, XF and F-Pace. At the front, the changes include a revised lower aperture incorporating a distinctive blade element. A new grille mesh design with diamond detailing is influenced by the Jaguar heritage logo and features a contemporary Noble Chrome finish, while new side fender vents feature the iconic Leaper emblem. Advanced LED technology is fitted to S models, while Premium LED headlights with Auto High Beam Assist feature on SE and…

Vodacom in KwaZulu-Natal is ramping up measures to fight the theft at base station sites, which causes millions of rand worth of damage each year. Vodacom KwaZulu-Natal’s base stations are increasingly being targeted by theft and vandalism, which can leave entire communities without communication. The company said the region is experiencing more than 70 incidents of vandalism reported on a monthly basis. The region is losing R6.5 million per month from vandalism, a cumulative R80 million per annum. In most cases, the theft has resulted in significant site downtime, leaving entire communities in parts of the province with no connectivity.…

MTN announced on Monday that Ferdi Moolman will step down as CEO of MTN Nigeria. Moolman will return to South Africa, where he will assume the new role of Group Chief Risk Officer. He will be replaced as CEO by Karl Toriola, current vice president for MTN Group’s West and Central Africa (WECA) region. Both appointments are effective from 1 March 2021. “Karl brings extensive technical and commercial experience, as well as a deep understanding of the Nigeria market to the role,” commented MTN Group President and CEO Ralph Mupita. “Karl started his MTN career in his home country at…

FibrePoynt, Thabure Towerco and Phuthanang Youth Trust have installed a pilot network in Central Western Jabavu, Soweto. The pilot network offers the high-density township, situated south of Johannesburg, a cost-effective fixed internet solution for the home. The solution will enable the introduction of digital solutions such as eLearning in this community. FibrePoynt is owned by global firm Poynting Antennas. Thabure Towerco develops, owns, and leases out telecoms’ infrastructure. Phuthanang is a community-based organisation focusing on youth empowerment and skills development. In this case, FibrePoynt’s low-cost technology alternative gave coverage to up to 300 families in the high-density township. During this…

Capitec Bank, South Africa’s largest digital bank, wants to democratise stock trading through creating new modern investing platforms. The bank is targeting its 4 million app customers by making investing in the stock market easier. Capitec announced on Friday that it has added the EasyEquities investing platform to its new banking app, allowing its clients to invest in shares on stock markets in South Africa and the US. “The partnership brings our clients greater accessibility to a variety of investment options in an affordable and simplified way,” says Francois Viviers, executive of marketing and communications at Capitec. “We currently…

The Information Communications and Technology Union (ICTU) has suspended strike action by its members who work for Cell C. The nationwide strike at the embattled cellphone operator, sparked by the imminent retrenchment of more than 1,600 workers, began on Monday. ICTU President Moeketsi Lepheane told union members late on Wednesday that the strike had been suspended. “This was after receiving legal advice from our lawyers,” said Lepheane. He said “disciplined and committed” members of the ICTU must stop the strike “until further notice from the union”. Leapheane added: “We hereby urge all members to ensure that they continue to conduct themselves within the confines of the…

Telkom announced on Wednesday that it had approached the Competition Tribunal to declare the suite of spectrum arrangements between Vodacom and Rain as a merger that should have been notifiable under the terms of the Competition Act. “Telkom contends that the merger is notifiable because the multiple agreements between Vodacom and Rain grant Vodacom use and control over the deployment of Rain’s spectrum, including the planning, rollout, maintenance and service of its radio access network,” the company said in a statement. Rain works with Vodacom to share infrastructure, while Vodacom assists it in putting up telecommunications towers and equipment. According…