Author: Gugu Lourie

Over the past 30 years, information technologies have advanced rapidly, making people’s lives and work much easier. The COVID-19 pandemic has revealed though that digital infrastructure has not kept pace with technological developments. According to the ITU, over half of the world’s population still does not have Internet access nor access to other digital technologies. As economies across countries slow, governments grow increasingly concerned with economic recovery strategies. “We envision a more connected, intelligent, and innovative future,” said Catherine Chen, Huawei corporate senior vice president and director of the board. “Above all else, we must ensure this is an inclusive,…

Lobby group the Black Information Technology Forum (BITF) is taking the country’s communications regulator ICASA to court. “The BITF has resolved to launch an urgent legal process to challenge ICASA’s decision to delay commencement of commercial TV White Space (TVWS) in court and expose any individual at ICASA and their external handlers that are using public resources to sabotage progressive transformational government programs meant to save lives during the COVID- 19 disaster period and assist rural economy recovery beyond the COVID-19 period,” BITF said in a statement on Wednesday. The BITF is a national non-profit organisation which represents previously disadvantaged…

The Dutch arm of South African internet titan Naspers, Prosus raised R32.8 billion ($2 billion) in a bond offering on Tuesday. The company said the funds would be used for general corporate purposes, including potential future mergers and acquisitions activity, and to further augment the company’s liquidity position. The company said in a statement that the offerings attracted strong investor demand, with US dollar notes more than seven times subscribed and euro debut notes more than eleven times subscribed on the eight year notes and twelve times subscribed on the twelve year notes. “It is expected that this financing will…

The Johannesburg Stock Exchange (JSE) on Wednesday said it would impose a public censure and fine of R7.5 million on struggling tech firm EOH Group due to non-compliance with its listing requirements. “EOH’s previously published financial information for the periods 2017 to 2018 did not comply with IFRS and was incorrect, false and misleading in material aspects and this incorrect information was disseminated to shareholders, the JSE and the investing public,”  the JSE said in a statement. “For these reasons and with reference to the JSE’s findings of breach, the JSE has decided to impose a public censure and the…

Anushka Bogdanov, the lead independent non-executive director of EOH and chairperson of the Social and Ethics Committee, has resigned from the board of the company. Bogdanov resigned from the board of directors of EOH with immediate effect. “A process to appoint a new lead independent non-executive director and chairperson of the Social & Ethics Committee is underway and shareholders will be advised of such appointments in due course,” EOH said in a statement. “The board of directors of EOH would like to thank Ms Bogdanov for her contribution to EOH over the past year and wishes her well in her…

5G – the fifth-generation wireless network – is about astounding speeds and almost zero latency – the lag time between when your phone pings the network and when it responds. After years of anticipation and a considerable amount of hype, 5G is finally in South Africa. With 5G you can download movies in seconds and YouTube clips instantly plus experience lag-free real-time gaming. MTN recently launched its 5G network with 100 sites in Johannesburg and Cape Town, as well as Bloemfontein and Port Elizabeth. The launch was made possible, in part, by the recent allocation of temporary spectrum by the…

The rapid roll-out of more online food shopping capacity has helped South Africa’s retailer Woolworths report soaring sales over the lockdown period. The South African government has announced a national lockdown that requires the closure of non-essential businesses between 27 March 2020 and 16 April 2020 and has implemented various regulations and directives which have impacted the way Woolworths does business. The country is currently on lockdown at level 3. South Africa began easing restrictions at the beginning of May 2020. “Woolworths Food continued its positive momentum into the last nine weeks of H2, growing sales by 16.1%, as the…

MTN, Africa and the Middle East biggest mobile phone group, expects profits to surge in the first half, boosted by foreign exchange gains. The company said on Friday that its headline earnings per share (HEPS) will be at least 195 cents or 100% higher, representing HEPS of greater than 390 cents for the six months ended 30 June 2020, compared with HEPS of 195 cents in the previous year. HEPS is South Africa’s main profit gauge. The South African-based operator said HEPS benefited from non-operational items for the six months totalling 50 cents per share (June 2019: 55 cents negative…

The South African Social Security Agency (SASSA) has paid out more than R2.2 billion to applicants of the R350 COVID-19 grant. President Cyril Ramaphosa disclosed late on Thursday that the over 4.4 million people have now received the special COVID-19 grant, which assists those who are unemployed and do not receive other forms of support. “So far, an amount of R2.2 billion has been paid out to these recipients,” he explained. “There were delays in paying this amount but future payments will be made more quickly now that the necessary systems are in place. “As we announced, this grant will…

President Cyril Ramaphosa announced late on Thursday that all public schools will take a break for four weeks. “As South Africa approaches its peak of COVID-19 infections, we must take the cautious approach to prevent schools from becoming sites of transmission,” said Ramaphosa, adding that  more than 6,000 people had died of COVID-19, and 408,052 infections had been confirmed. Ramaphosa was speaking during an address to the nation on Thursday night. “Taking into account the views of the various stakeholders and expert bodies, Cabinet has decided that all public schools should take a break for the next four weeks.” This…