Author: Gugu Lourie

Afrihost announced on Tuesday it was relaunching its fibre product as Pure Fibre – a simple, powerful fibre solution that does everything and doesn’t break the bank. “The best part about Pure Fibre is that it is uncapped, unshaped, unthrottled and unmetered,” Gian Visser, Afrihost CEO, said. “That means there are no thresholds, no hidden terms and the performance of the product will never change according to how much you use.” The specials went live today. The Internet Service Provider is offering customers that orders its fibre through (or migrates to it) up to R5,000 in value when they sign…

An ENSafrica report has revealed evidence of a number of governance failings and wrongdoing at EOH. Following submission of a forensic report and its recommendations to the board of directors of EOH, the company said its board has assessed the findings of the ENSafrica report and has prepared an interim update on the forensic investigation The report by the law firm unearthed wrongdoings including unsubstantiated payments, tender irregularities and other unethical business practices. The wrongdoings are primarily limited to the public sector business centralised in EOH Mthombo and to a limited number of EOH employees, the company said. Suspicious transactions…

We are entering a digital, intelligent, and fully connected era where everything will be sensing, connected, and intelligent. As part of its plans to respond to this technological revolution, Huawei wants to make digital services more affordable and equally accessible to all. “Huawei has been creating value for its customers through innovation. We are doing everything we can to bridge the digital divide and meet the world’s needs for connectivity,” Liang Hua, Chairman of Huawei, said. “We want to make digital services more affordable and equally accessible to all, and to do our part in contributing to social and economic…

VC4A is looking for 10 innovative, high-growth scale-ups to showcase at Africa Early Stage Investor Summit on Nov 13-14 in Cape Town. Are you operating in Africa, generating revenue and looking to raise your Series A round in the range of $250 00 and $5 million (R69.6 million)? VC4A is looking for you. The applications are closing on 31 July. The initiative is called ‘VC4A Venture Showcase – Serie A’. This is an exclusive opportunity to introduce your company at once to everyone who’s anyone in Africa’s early-stage investment space. In 2017-2018, VC4A showcased 30 scale-ups from across the continent as…

JSE-listed Blue Label Telecoms has moved to reassure investors about the concerns about Cell’s prospects. Blue Label Telecoms, the biggest shareholder in Cell C, said that no material concerns or issues have been uncovered as a result of Cell C’s new management conducting a deep dive into the business practices of Cell C in a drive for efficiencies. “This is an on-going process and shareholders will be updated as progress is made.” On Wednesday, it emerged that Cell C’s management has finally accepted (publicly) that the company faces financial and other challenges. The struggling mobile phone operator is planning to implement…

The shares of JSE-listed technology group Blue Label Telecoms fell by as much as 15% in early trade on Thursday, as concerns around the latest development in the mobile phone operator Cell C battered sentiment. By 1136 am, Blue Label Telecoms was down 10.3% at R3.50 pushing the company’s market cap to R3.5 billion. The company’s shares have dropped 27% year-to-date and fell 17% in the past 30 days. Blue Label Telecoms owns 15% in Cell C, which has been a drag on its share performance. On Wednesday, it emerged that Cell C’s management has finally accepted (publicly) that the…

JSE-listed pay-TV group Multichoice has appointed Jabu Mabuza and Dr Fatai Adegboyega Sanusi as independent non-executive directors. Their appointment is effective from 5 July. Mabuza was recently appointed as the chairman to the board of Sun International. He was previously the Group CEO and later the Deputy Chairman of Tsogo Sun. He recently retired as chairman of Telkom SA and as president of Business Unity South Africa. Mabuza currently serves as the chairman of various companies including Anheuser – Busch InBev / SAB Miller – Africa, the Casino Association of South Africa and Eskom. Outside South Africa, Jabu has served…

Transport Minister Fikile Mbalula says the government would find a solution to the prolonged e-tolling impasse. Mbalula was addressing the 38th annual Southern African Transport Conference (SATC) in Pretoria. His utterances followed the spat on social media between Gauteng Infrastructure Development and Property Management MEC Tasneem Motara, Premier David Makhura and Finance Minister Tito Mboweni regarding the controversial e-tolls. “The President has established a task team, led by myself, about the options on the table. A report will be tabled before him and from there will be given to the Cabinet,” he explained. “We know that there are robust views…

JSE-listed technology group Datatec has acquired Mars Technologies for an undisclosed amount. The acquisition was facilitated via Logicalis SA, a subsidiary of Datatec. Mars Technologies, an IT services business, has offices in Cape Town, Johannesburg, Port Elizabeth, Durban and East London employing 76 staff. It delivers Managed IT services ranging from the remote monitoring of networks and servers, managed desktop, anti-virus, cloud backup, and printers, to full outsourcing, targeting small and mid-market enterprises. Software solutions and application development complement the services offering. With the acquisition, the Logicalis South African operation strengthens and expands its managed services business in IP telephony,…

PayU, Naspers’ global FinTech company, is expanding into Southeast Asia after it announced a deal to buy a majority stake in Singapore-based Red Dot Payment. PayU has acquired a majority stake in Red Dot Payment in a transaction valuing the company at $65 million (R million). The founder will continue to retain a stake in the company, while the majority of other shareholders will exit. Evolve Capital Asia acted as the exclusive financial adviser to the Founder and selling shareholders. According to one Google-Temasek study, Southeast Asia is one of the fastest growing digital payments markets in the world and is expected…