Author: Gugu Lourie
State-funded low-cost Community WiFi technology provider, Fibrepoynt, has announced the appointment of Mpho Sefalafala the CEO. Sefalafala’s appointment follows the end of term for Eduard Walker, an innovative engineer and telecoms industry stalwart, who has led the company through the technology development, validation and pilot phases. Sefalafala’s appointment is effective from 15 June 2022. Sefalafala has vast experience in technology entrepreneurship, business incubation, funding and enterprise development, and has over the years, assisted several early technology enterprises to build and commercialize their projects. He has also been an influencer and shaper within the entrepreneurial ecosystems in Gauteng through mentorship, policy development…
Neobank Be Mobile Africa has announced the launch of its cryptocurrency payments gateway which will allow businesses and merchants in Africa to accept and make payments with Bitcoin (BTC) and other cryptocurrencies such as Ethereum (ETH), as well as USD stablecoins such as USDC and USDT. Customers will be able to automatically convert incoming crypto payments in ZAR, USD or EUR or have the option to keep crypto with Be Mobile Africa providing full custody. “International payments have always been a pain point for African SMEs. Sending or receiving money from customers outside of one’s country is expensive and often…
Community Holdings No 1 Proprietary Limited (CIH) plans to delist Jasco Electronics (Jasco) from the JSE. CIH, which was founded by buiness women Dr Anna Mokgokong, announced today that it will make a general offer to the holders of Jasco ordinary shares and to consequently terminate the listing of the company’s ordinary shares on the JSE. CIH will offer to purchase all of the issued Jasco ordinary shares for a consideration equivalent to 16 cents per Jasco ordinary share. The offer consideration represents a 4% premium on the 30-day weighted average traded price of Jasco shares on 2 December 2022,…
Vodafone Group announced today that Nick Read has agreed with the board that he will step down as Group Chief Executive and as a Director of Vodafone on 31 December 2022. Read be available as an adviser to the board until 31 March 2023. Margherita Della Valle has been appointed interim Group Chief Executive. She will accelerate the execution of the Company’s strategy to improve operational performance and deliver shareholder value. In addition to being appointed interim Group Chief Executive, Margherita Della Valle will also continue as Group Chief Financial Officer. The Board has initiated a process to find a…
MTN Group emerged victorius in a R73 billion lawsuit initaited 10 yeears ago by Turkish operator Turkcell. Turkcell and East Asian Consortium, or EAC had initiated action against it and certain of its subsidiaries in 2013, seeking damages over allegations of impropriety in the award of the first private mobile telecommunications license in Iran. In 2020, Turkcell withdrew as a plaintiff, leaving EAC as sole plaintiff. The court dismissed the action without costs on Wednesday, ending the litigation. “In a judgment handed down by the High Court of South Africa on 30 November 2022, EAC’s action against MTN has been…
Truworths has been approved for secondary listing on A2X Markets and its ordinary shares will commence trading on the stock exchange from 5 December 2022. Truworths will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by its secondary listing on A2X. Founded in 1917, the company listed on the JSE and the Namibian Stock Exchange in 1998. The Truworths International Group is one of the leading fashion retailers in Africa with 785 mainly Truworths and Identity stores, together with 92 Office stores and concessions in the UK, Germany and the Republic of…
Vodacom has launched a patient engagement solution which includes a computer-aided emergency services dispatch system, a first for South Africa’s public healthcare sector. Together with the Northern Cape Department of Health, and under the leadership of the acting head of the provincial health department, Riaan Strydom, Vodacom has created an end-to-end technology solution to make the province’s healthcare services more accessible. The launch, which took place in the Northern Cape, at the Provincial Health Offices highlights how public-private partnerships can spearhead innovation and ultimately save people’s lives. “Since 2019, Vodacom and the Northern Cape Department of Health have been hard…
Telkom today reported less than half the earnings it had in the same quarter a year ago and announced the resignation of its chairman Sello Moloko. The company said headline earnings per share – South Africa’s main profit gauge – dropped by 51.9% to 137.2 cents a share for the six months to end-September 2022. Telkom also reported that group revenue down 0.7% to R 21.2 billion and EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) down 17.3% to R4.9 billion. The decline in EBIDTA of 17.3%, partially offset by lower finance charges and fair-value movements, resulted in a decline…
Telkom announced today that its chairman Sello Moloko has resigned due to workload reasons. Moloko will step down as chairman of the partially state-owned telco by no later than 31 March 2023. Moloko is also the chairman of Absa. He took the reins on Absa’s board in April from Wendy Lucas-Bull. Moloko was appointed as the chairman of Telkom board on 20 March 2018 and became Chairperson of the Board in June 2019. He served as a Member of the Remuneration Committee and Chairperson of the Nominations Committee. “Sello Moloko has informed the Board of his intention to step down…
JSE-listed low-cost retailer Pepkor announced today that its FinTech business Flash now supports 202 000 traders in the informal market and is immersed in the South African informal market. “The average turnover generated per trader improved by 12% during the year,” said Pepkor. “Flash’s understanding of consumer needs, the technology used and their extensive interconnected network of partners work to better connect the informal and formal market sectors.” Pepkor owns PEP, Bradlows, Ackermans, Capfin, Incredible Connection, Hi-Fi Corp, Rochester, Timbercity and Shoe City. Shop owners can use the Flash devices to increase their business by offering multiple services to attract…