Author: Gugu Lourie

South Africa’s Telkom and data-only network operator Rain have terminated merger talks. Telkom informed investors on Wednesday that after initial discussions, but prior to any due diligence, the parties have decided that a suitable transaction is not possible at this time. “Telkom continues to execute its strategy to unlock value for shareholders and will provide an update on progress in this regard in due course,” said the company. Also read: GUGU LOURIE: MTN’s battle for Telkom is actually no contest Telkom shares were trading 10% higher at R35.68 by 14h20 today, maybe signalling a relief from the market that the deal…

JSE and Nasdaq-listed fintech group Lesaka Technologies, formerly known as Net1, has decided to retain the services of Steven Heilbron as CEO until June 2025. In a statement, the dual-listed group, said Heilbron has been the CCEO of the Connect Group since 2013 and joined Lesaka following the acquisition of Connect in the same capacity. Heilbron has two decades of financial services experience, having spent 19 years working for Investec in South Africa and the UK, where he served as Global Head of Private Banking and Joint CEO of Investec Bank plc. He led a private consortium that acquired Cash…

Telkom has unveiled the January Big Deal to connect you to super-fast, uncapped fibre. The company wants you kick-start the year with an exclusive January Fibre Big Deal that is fast, reliable and affordable. “Stay productive and make the most of every day with a deal that will help ease the January financial blues.,” says Telkom. The January Fibre Big Deal offers 25/10Mbps Uncapped @ R389 x 3 months, thereafter R499 x 9 months. “Telkom is working hard to bring you the best deals in South Africa. Bargain-hunting and no skimping on quality,” said Telkom. “Our wide array of products…

The BMW Group is continuing to drive the digitalisation of access to its vehicles in co-development with Apple and Google. It is now possible to share a BMW Digital Key across platforms between iPhone and Android devices. Previously, keys could only be shared via Apple iMessage. There is now no longer any need for a specific app or a set method of transmission. Instead, keys can be easily passed on to friends or family from the wallet using the native “share” function known from many apps. This means that sharing a BMW Digital Key now takes the straightforward form of…

Shoprite, Africa’s biggest retailer, is attracting more customers for its mobile virtual network operator (MVNO). The retailer, which also owns  Checkers, reported that K’nect attracted 33 944 customers in its first year of operation in 2021. Shoprite told TechFinancials that K’nect had added 139,556 users in 2022, taking the total of new voice and data customers to 173 500. K’nect was launched on 23 March 2021. The prepaid cellular network has partnered with digital enabler FREI One Digital. It piggybacks off the mobile network infrastructure of Cell C, whose roaming partnership with MTN provides award-winning coverage. K’nect forms part of the Shoprite…

FNB Connect, a mobile virtual network operator (MVNO), has attracted 878 000 customers since its launch in June 2015, making FNB the first bank in the country to establish a mobile offering. Standard Bank officially launched its MVNO, SB Mobile, in November 2018. JSE-listed FirstRand, FNB’s parent, disclosed in its latest integrated report that retail’s commissionable turnover amounted to R17.9 billion (including prepaid service providers), with active sim cards in the MVNO reaching 878,000 in 2022 versus 833, 000 in 2021. Therefore, FNB Connect attracted 45 000 new customers in 2022. That means FNB is attracting a mere 3,750 customers…

Blockchain payments company Centbee announced today that it has closed its pre-Series A round with entrepreneur Calvin Ayre, founder of Ayre Ventures. Ayre Ventures first invested in Centbee in 2019. The company was founded by co-CEOs Angus Brown and Lorien Gamaroff’s in South Africa and now is a global blockhain payments wallet business. It is headquartered in London, United Kingdom, with offices in South Africa. Gamaroff is a leading expert in blockchain technologies and cryptocurrencies. He has consulted and advised regulators and corporates internationally and is highly regarded globally as an educator and presenter. Brown has 20 years of experience…

The Independent Communications Authority of South Africa (ICASA) has promulgated seven final Radio Frequency Spectrum Assignment Plans for International Mobile Communications (IMT) high-demand spectrum, following an extensive notice and comment process. The seven bands are: 703 to 733 MHz and 758 to 788 MHz (IMT700); 733 MHz to 758 MHz (IMT750); 791 to 821 MHz and 832 to 862 MHz (IMT800); 880 MHz to 915 MHz and 925 MHz to 960 MHz (IMT900); 2300 MHz to 2400 MHz (IMT2300); 3300 MHz to 3400 MHz (IMT3300); and 3400 MHz to 3600 MHz (IMT3500). 450 MHz to 470 MHz (IMT450); 825 MHz…

Business communication and managed services provider ICTGlobe sees declining local voice margins and the weak SA currency as compelling reasons to seek a global market for ICTLabs. “A US headquarters for the research and development (R&D) subsidiary of ICTGlobe means stronger group earnings off the back of dollar denominated inroads in developed world markets,” says Riaan van Stryp, head of ICTLabs and the former Chief Operating Officer (COO) of member company, ICTGlobe Management (Pty) Ltd. ICTLabs is located in Boston in the US with additional presence in the ICTGlobe group head office in Centurion where it has already rolled out…

Microsoft is buying 4% equity stake in London Stock Exchange as part of its data cloud deal  to jointly develop new products and services for data and analytics. The tech group is buying the stake from York Holdings II Limited and York Holdings III Limited, entities owned by certain investment funds affiliated with Blackstone, an affiliate of Canada Pension Plan Investment Board, an affiliate of GIC Special Investments Pte. Ltd, and by Thomson Reuters, the former Refinitiv shareholders. London Stock Exchange and Microsoft have agreed to co-invest in the product development roadmap for the data platform, Workspace, and analytics initiatives.. Satya…