Author: Gugu Lourie
In a strategic move aimed at unlocking value and optimizing its business portfolio, telecommunications giant Telkom has embarked on discussions to sell its mast and tower business housed in Swiftnet, a wholly-owned subsidiary of the company. Shareholders were alerted to this decision through Telkom’s previous communication, highlighting the company’s commitment to a competitive disposal process in line with its value unlock strategy. In a recent update, Telkom disclosed that it is currently engaged in exclusive negotiations with a preferred bidder for the potential disposal of Swiftnet. The outcome of these negotiations, if successful, could have a substantial impact on the…
Microsoft said on Monday it remained committed to our partnership with OpenAI. The tech giant also announced that it has appointed ousted OpenAi CEO. “We remain committed to our partnership with OpenAI and have confidence in our product roadmap, our ability to continue to innovate with everything we announced at Microsoft Ignite, and in continuing to support our customers and partners,” Microsoft CEO Satya Nadella, said. “We look forward to getting to know Emmett Shear and OAI’s new leadership team and working with them. And we’re extremely excited to share the news that Sam Altman and Greg Brockman, together with…
In its continuous commitment to expedite the widespread embrace of electric mobility, Audi South Africa has initiated a nationwide awareness initiative designed to inform the public about electric vehicle (EV) charging. As a key component of this initiative, Audi has substituted conventional charging stations with miniature versions of the brand’s electric vehicle chargers within Bidvest Premier Lounges at the domestic departure terminals of Cape Town and OR Tambo International Airports. Scheduled to run until the conclusion of January 2024, the campaign encourages individuals to replenish their mobile devices using Audi’s compact EV chargers while awaiting their flights. By enabling passengers…
On November 15, 2023, Daimler Truck Southern Africa (DTSA) made history as the first global market to introduce the Daimler Truck Parts Portal—an online eCommerce platform. This click-and-collect system allows customers to purchase over 400 parts online, including oil, batteries, service, and wear and tear components, for pick-up within 24 hours at their chosen dealership. Future plans involve expanding the product range to include maintenance and collision parts, as well as offering home delivery services. “The Daimler Truck Parts Portal is a game changer in the commercial vehicle market, and we are thrilled to be part of the development team,…
Momint, the Cape Town-headquartered blockchain firm specialising in real assets and legal contracts, achieved the prestigious title of Entrepreneur of the Year at the inaugural EPF Tech Awards. The awards ceremony, often likened to the Oscars for innovators, unfolded at the glamorous The Ballroom, Monte Casino in Johannesburg. Distinguished for its groundbreaking contributions, Momint showcased its innovative solutions at the EPF Tech Awards, where exceptional minds were recognized across diverse categories. The Momint platform stands out for streamlining transactions through its integrated digital wallet and leveraging decentralized finance to transform the landscape of solar investments. After hosting Africa’s largest Digital…
While October was the third consecutive month of decline in new vehicle sales in South Africa, used car sales remain resistant to economic pressures. According to the used car sales data supplied by AutoTrader, a total of 32,839 used cars moved through AutoTrader’s platform in October 2023, 14% more than the 28,902 cars for October 2022¹. In a stark contrast, according to naamsa | The Automotive Business Council, 29,912 new passenger cars were sold in South Africa during October 2023 – a decline of 1,068 cars, or a reduction of 3.5% versus the 30,980 new cars sold in October 2022. A…
Mineworkers Investment Company (MIC) pours R68.5 Million into Pineapple, South Africa’s prominent Insurtech firm. The infusion of funds reflects MIC’s dedication to fortifying its primary portfolio with cutting-edge direct investments, focusing on enterprises exhibiting robust growth potential, scalability, and effective management, affirms Nchaupe Khaole, MIC’s Chief Investment Officer. This strategic move aligns with Pineapple’s larger R400 million series B funding round. “We have had a long-standing interest in the insurance industry, driven by the global trend integrating technology into financial services. Pineapple’s unique value proposition lies in its robust technology infrastructure, enabling seamless and rapid onboarding of new policyholders. MIC…
Today, rumours emerged that MTN Nigeria is in discussions with the owners of 9Mobile, signaling the potential acquisition of a significant stake in the country’s fourth-largest mobile operator, according to a report in Technology Times. The newspaper said according to reliable sources in the telecoms industry, MTN Nigeria, a subsidiary of South Africa’s MTN Group, and Emerging Markets Telecommunications Services Limited (EMTS), the owners of 9mobile (formerly known as Etisalat Nigeria), are in advanced stages of negotiations concerning a frequency trade arrangement. This spectrum-focused strategy is being explored as a means to revitalise struggling 9mobile, which has faced challenges following…
MTN Nigeria is reportedly in discussions with the owners of 9mobile, signaling the potential acquisition of a significant stake in the country’s fourth-largest mobile operator, according to a report in Technology Times. The newspaper said according to reliable sources in the telecoms industry, MTN Nigeria, a subsidiary of South Africa’s MTN Group, and Emerging Markets Telecommunications Services Limited (EMTS), the owners of 9mobile (formerly known as Etisalat Nigeria), are in advanced stages of negotiations concerning a frequency trade arrangement. This spectrum-focused strategy is being explored as a means to revitalise struggling 9mobile, which has faced challenges following the departure of…
Santam, South Africa’s short-term insurer, announced today that the momentum in new business generated through the MTN partnership in Santam Partner Solutions remains robust. Seven months ago, Santam forged an alliance with MTN South Africa, acquiring the mobile telecommunication company’s device insurance portfolio. The latest market update from Santam reveals that the partnership has successfully sold nearly 100,000 new policies to date. “The transfer of the in-force book of MTN device insurance is still subject to regulatory approval, which is expected towards the end of the year,” said Santam. MTN South Africa’s device insurance book currently has just over 400…