Author: Gugu Lourie

The South African Social Security Agency (Sassa) says more than a million unemployed people have applied for the R350 monthly COVID-19 relief grant. “What we did when we started, we realised that when we reconciled, 60% of people who made the application were not supposed to,” Sassa spokesperson Paseka Letsatsi, told ENCA. The special COVID-19 Social Relief of Distress grant of R350 a month for the next 6 months will be paid to individuals who are currently unemployed and do not receive any other form of a social grant or UIF payment. Watch ENCA interview with Letsatsi, below: Also read:…

South Africa’s metered taxi, minibus taxi, bus and coach services industries are essential for the growth of the South African economy. Minibus taxis remain the most popular choice of transport for about 69% of South Africa’s commuters, generating an estimated R50 billion in fares annually, according to a recent report by ResearchAndMarkets. Buses and metered taxis continue to lose ground on e-hailing services. The Bus Rapid Transit system has been a failure, with high capital expenses, subsidies and low ridership undermining the plan to provide fast, affordable public transport. Taxis are used by about 69% of households compared to 59%…

The rapid growth in internet usage in Africa represents a significant opportunity for some of the world’s largest tech firms. With internet penetration rates estimated at an average of 24%, it remains the only continent where over half the total population is without internet access. China Mobile International, Facebook, MTN GlobalConnect, Orange, stc, Telecom Egypt, Vodafone and WIOCC are betting on this as they partner to build the most comprehensive subsea cable to serve the African continent and Middle East region. The companies announced today that they will partner to build 2Africa, a 37,000km long subsea cable to interconnect Europe…

JSE-listed technology group Altron on Thursday announced a raft of measures to preserve cash amid the economic upheaval created by the COVID-19 pandemic. Despite Altron’s resilience, with 62% of its income being annuity based, COVID-19 is expected to have a negative impact of mid-single digit on last financial year revenues. “To limit the impact on profitability, a number of cost savings initiatives have been implemented for the 2021 financial year which include cancelling all cash absorbing projects, freezing recruitment, promotions, and salary increases as well as halving all bonuses for Group Executive Officers, Managing Directors and First Line Managers for the…

MTN on Thursday reduced its capital expenditure guidance for 2020 to between R2 billion and R22 billion, revised from R28.3 billion guided at the 2019 full-year results. “The current environment is marked by significant uncertainties. It is still too early to assess the economic impact of the pandemic on our customers and reliably quantify the direct or indirect financial effects on our business,” the company informed investors on Thursday. “The remainder of the year will be shaped by the ramifications of the pandemic, and we will continue to update all stakeholders as the effects become clearer.” The company said its…

MTN added 2.9 million data users across its operations in Africa and the Middle East in the first quarter financial results for the year ended 31 March 2020, bringing its total user base to just shy of 99 million subscribers. “We are not only focused on managing the risks brought about by COVID-19, but also on the opportunities it creates in the accelerated digitalization it has brought about,” Rob Shuter, MTN Group CEO, said on Thursday. “We believe we are well-positioned as a company to benefit from this evolution, especially given our focus on growth in our data, digital and…

President Cyril Ramaphosa said on Wednesday evening that South Africa’s COVID-19 hotspots to remain in level 4 as most parts of the country move to level 3. “We will immediately begin a process of consultation with relevant stakeholders on a proposal that by the end of May, most of the country be placed on alert level 3, but that those parts of the country with the highest rates of infection remain on level 4,” Ramaphosa said. “It is important that we maintain stringent restrictions in these areas and restrict travel out of these areas to parts of the country with…

President Cyril Ramaphosa will address the nation at 20h30 this evening, Wednesday 13 May 2020, on South Africa’s ongoing measures to manage the spread of the coronavirus through the implementation of a risk-adjusted strategy. #COVID19 | President Cyril Ramaphosa will address the nation at 20h30 this evening, Wednesday 13 May 2020, on South Africa’s ongoing measures to manage the spread of the coronavirus through the implementation of a risk adjusted strategy. #CoronaVirusSA #day48oflockdown #StayHome pic.twitter.com/zeFw8peqAN — Presidency | South Africa 🇿🇦 (@PresidencyZA) May 13, 2020 The President’s address follows a number of meetings of Cabinet and the National Coronavirus Command…

The COVID-19 pandemic is disrupting every industry. For the minibus taxi industry, at current level 4 restrictions, limits on operating hours have been relaxed enabling activity between 5am and 7pm, however constraints on passengers per trip and long-distance travel continue to apply. “Over the past few weeks, the COVID-19 pandemic has highlighted the indispensable nature of the minibus taxi industry as the dominant form of public transport in South Africa,” David Hurwitz, the CEO of JSE-listed Transaction Capital, said on Wednesday. “This, together with the minibus taxi industry’s defensive character, will assist in its quick recovery and smooth transition to…

The South African motor industry, which was brought to a complete halt for almost two months due to regulations to curb the spread of COVID-19, can now start selling vehicles again. The Department of Trade, Industry and Competition yesterday published a Government Gazette, which details precise directions regarding the sale of cars and emergency automobile repairs during alert Level 4 of the Covid-19 National State of Disaster. The direction, effective immediately, allow the motor industry to start selling vehicles once again. Significantly, car dealers are now allowed to sell both new and used cars while original equipment manufacturers (OEMs) and…