Author: Gugu Lourie

TeleMasters is on a buying spree as the company has acquired three companies in about a month. The JSE listed company announced today that it has acquired a 100% shareholding in two local ICT companies. The company has acquired 100% of specialist networking systems integrator PerfectWorx Consulting, and specialist wholesale voice platform provider Contineo Virtual Communications, pending regulatory approval. PerfectWorx Consulting, launched in 2007, is a networking systems integrator specialising in next-generation IP technologies. The company is currently stepping up its partnerships and is expected to deliver growth. Contineo Virtual Communications is a provider of wholesale cloud communications in South…

The South African Social Security Agency (SASSA) announced on Tuesday it has paid 2,5 million people their R350 Social Relief Grant. “More than two and a half million applicants have already been paid so far from over 3.2 million who applied for the COVID-19 grant,” the agency said in a statement. “Updating the UIF database has brought such a relief to us and the affected beneficiaries, the numbers will rise daily until we have paid all deserving individuals who were previously declined”, said Totsie Memela SASSA CEO. She added that SASSA is working with the Department of  Social Development to finalise…

The South African Social Security Agency (SASSA) has promised to review the number of declined R350 COVID-19 Grant applications. SASSA said in a statement that it has taken a decision to relook declined COVID-19 grant applications and get to the bottom of the reasons for rejection. The high numbers involved raised questions and SASSA decided that it would be wise to reconsider these before subjecting them to an appeal process, which comes at a cost and resultant delays, given the urgency to pay out the grant during these trying times for poor people impacted negatively by the national shutdown, said…

Naspers, the South African-based tech and media giant – which owns global tech investor Prosus, seems to be better prepared to bear the impact of coronavirus. Late on Monday, Naspers informed investors that it closed its financial year on 31 March 2020 with more than $8.3 billion (R144 billion) of cash and cash equivalents (including short-term cash investments), net of $3.5 billion (R61 billion) of interest-bearing debt (excluding capitalised lease liabilities). The company has an undrawn $2.5 billion (R43 billion) revolving credit facility. Therefore, the company has a solid net cash position of $4.8 billion (R83 billion). The group said…

The consumer of today has been prompted by the COVID-19 pandemic to spend as little time as possible at a grocery shop or to find a way to shop without leaving home. So, having your grocery sent right to your doorstep is a brilliant option for those who are not willing to risk a trip to the shops. Admittedly, the online market is robust and difficult to crack. Fears of coronavirus have resulted in a surge in demand for grocery delivery. As the virus spreads, on-demand grocery delivery services in South Africa are seeing remarkable growth. Existing players are overwhelmed…

Vodacom announced on Friday the appointment of Sitho Mdlalose to the role of interim chief financial officer. His appointment is in effect from 1 July 2020. Mdlalose, 40, has BCompt and over 20 years of finance, management and consulting experience. He was appointed to the role of executive director of finance at Vodacom South Africa in 2017 having been the CFO: Vodacom International Business since 2014. He has held a number of senior executive roles at Vodacom / Vodafone since joining Vodafone Group in 2007 as a senior finance manager. The appointment of a permanent chief financial officer is well…

The Information Communication Technology Union (ICTU) has demanded that Cell C withdraw the retrenchment notice to workers. ICTU is an affiliate of the South African Federation of Trade Unions (SAFTU), which is led by Zwelinzima Vavi. The union is the sole worker representative at Cell C. Earlier today, the ICTU announced that Cell C has served retrenchment notices to all its 2 500 staff members. For more read: Debt-Ridden Cell C Serves Retrenchment Notices to 2500 Employees Today ICTU met with Cell C’s major shareholder, Blue Label Telecoms together with senior management of CellC. “Today’s urgent meeting, which was prioritized over…

The High Court case on the ban on the sale of tobacco products, e-cigarettes and related products is now expected to be heard in August. The North Gauteng High Court dismissed an application brought by the Fair-Trade Independent Tobacco Association (Fita) on Friday 26 June. British American Tobacco (BATSA) said on Friday it had received communication this morning that the application being brought by it and others against the ban had been listed for August 5 and 6. BATSA added that this is despite it agreeing, on the instructions of the Judge President, with the State President and COGTA Minister,…

Lexus SA will introduce the LC 500 Convertible in 2021 for the South African market and is sure to be a hit on the road due to its stylish and elegant design. The LC 500 Convertible will boast a naturally aspirated 5.0-liter V8 engine producing 351kW and 540Nm of torque at 4800 rpm. Mated to the DirectShift-10 automatic transmission, this engine gives the LC linear, yet invigorating acceleration. Power output is tuned according to driving style, with smooth acceleration character during normal commuting and aggression at the limit when the driver desires. The Lexus design team received a daunting challenge:…

Cinemas, restaurants, theatres and casinos can start operating again, albeit under strict conditions, after having closed for three months in the COVID-19 enforced lockdown. This comes after Cooperative Governance and Traditional Affairs (Cogta) Minister, Dr Nkosazana Dlamini Zuma, on Thursday signed and gazetted an amendment to the regulations for the advanced COVID-19 alert level 3 lockdown. In the regulation, the Ministry said these services may be provided subject to the strict adherence to all health protocols and social distancing measures, and following the directions to be issued by the responsible Minister, after consultation with the Minister of Health. “The regulations…