Author: Gugu Lourie

The Vumatel investment is an excellent case study of how mezzanine debt can unlock growth opportunities where banks remain risk-averse,” says Warren van der Merwe, co-managing partner at Vantage Capital. “In this way, Vantage Capital plays an important role in supporting mid-size corporates before they are sufficiently established to fully fund its operations and growth ambitions with bank debt.” Africa’s largest mezzanine debt fund manager Vantage Capital announced it had fully exited its investment in fibre-to-the-home operator Vumatel. “Mezzanine” refers to a hybrid of debt and equity financing that gives the lender the right to convert to equity interest in the case…

by Vijay Reddy By mid-April, about 1.725 billion students globally had been affected by the closure of schools and higher education institutions in response to the coronavirus pandemic. According to the UNESCO Monitoring Report, 192 countries have implemented nationwide closures, affecting about 99% of the world’s student population. This is unprecedented. The scale and complexity of what’s happening is entirely new territory. In recent decades crises such as natural disasters, armed conflicts and epidemics have disrupted education around the world. For example, in 2005, Hurricane Katrina in the US destroyed 110 of New Orleans’ 126 public schools. In the past…

As of today, the total number of confirmed COVID-19 cases in South Africa is 8, 232. Testing Data A total of 292 153 tests have been conducted to date with 12 774 tests done in the past 24 hours. “There are 8 more COVID-19 related deaths: 2 from KwaZulu Natal and 6 from Western Cape. This brings the total national deaths to 161,” said Dr Zweli Mkhize, Health Minister. “We wish to express our condolences to the loved ones of the deceased and thank the healthcare workers who treated these patients.”

Internet of Things (IoT) player XLink has collaborated with global technology solutions expert Fastcomm to bring connected solutions for South Africa’s retail industry. The COVID–19 pandemic has changed the way we live, work and even eat, with many businesses being forced to shut down to implement effective social distancing measures. The restaurant industry has been hard hit and restaurants are realising the need to become more digitally driven, with many introducing a form of online ordering and delivery in order to stay afloat. International company Fastcomm, with its headquarters, based in Cape Town, has a range of innovative, technology-driven platforms…

Toyota South Africa Motors (TSAM) is spending more than R10 million to assist the local taxi industry in the fight against the spread of COVID-19. The assistance comes in the form of more than 65 000 litres of sanitisers, 2 000 face masks, as well as COVID-19-related marketing initiatives. With regards to sanitisers, TSAM confirms that a total of 2 000 x 25 litres, 3 000 x 5 litres, 20 000 x 100ml, as well as 2 000 hand-wash dispensers have been distributed to regional taxi structures across the country’s nine provinces. Under lockdown Level 4 regulations, minibus taxis can…

Vodacom is planning to drive new revenue streams through the recently launched Amazon Web Services (AWS) data centre. AWS has opened a cloud region in Cape Town, allowing customers to run applications and store data locally in South Africa. The new region has three geographically separate data centres or “availability zones” for resilience and brings AWS to 23 regions around the world. The data centre will help millions of people, businesses and organisations benefit from faster connectivity and viable access to next-generation technology. “The launch of the AWS Africa (Cape Town) Region will enable us to fully leverage AWS’s capabilities…

We have received several queries from readers on what is free basic electricity. We have generated a quick explainer from the public government documents. In 2001 South Africa adopted a policy intended for the provision of free basic services to poorer households. Under this policy, municipalities were tasked to identify indigent households that would receive services – such as water and electricity – for free or at substantially subsidised rates. Households are required to register with municipalities to qualify for free basic services. A municipality’s role is to vet every application, selecting only those households that meet various criteria. Successful…

As of today, the total number of confirmed COVID-19 cases in South Africa is 7, 808. Case Data per province: Testing Data A total of 279 379 tests have been conducted to date with 11 315 tests done in the past 24 hours. “Regrettably, we report 5 more COVID-19 related deaths: 2 from Western Cape, 1 from Limpopo Province and 2 from KwaZulu Natal. The total national deaths is now 153,” said Dr Zweli Mkhize, health Minister. “We are, however, pleased to report 3153 recoveries.” The provincial breakdown is as follows:

The South African Social Security Agency (Sassa) says the system to process COVID-19 Social Relief of Distress grants is not ready. Last week Lindiwe Zulu, Minister of Social Development, announced that South Africa’s government will start paying COVID-19 Social Relief of Distress grant on May 15. Zulu announced that applications for the Special COVID-19 Social Relief Grant may be lodged by sending a WhatsApp message to 0600 123 456 and selecting SASSA or by sending an email to [email protected] However, today on its official Twitter page Sassa announced that: “The special temporary COVID-19 Social Relief of Distress grant will only…

Vodacom has launched its latest “Red Hot Dealz”, offering big discounts on large SIM-only data bundles on a 24-month contract. The Vodafone-owned operator is offering an 80GB data package, consisting of 50GB of anytime data and 30GB of Night Owl data plus a free 5GB video ticket, for R299 per month. Vodacom also has a 10GB data package, consisting of 5GB of anytime data and 5GB of Night Owl data plus 5GB video ticket, for R129 per month. There are two device options that accompany these deals: a Huawei R218h or Vodafone R217 mobile router and a Huawei B535-932 home…