Author: Gugu Lourie
South African-based vehicle tracking firm Cartrack may be sold to a Singaporean investor. Cartrack provides services related to stolen vehicle recovery, fleet management and insurance telematics through Software as a Service (SaaS). The company competes with JSE-listed DiDigicore, which was acquired by US-based technology firm Novatel for R1.1 billion. It also competes with JSE-listed Mix Telematics and Tracker. The JSE-listed company informed investors on Monday that it has received an expression of interest from a foreign investor. It added that the investor is proposing a transaction that could ultimately result in the restructuring of the company such that shareholders would hold shares, pursuant to…
Telkom has unveiled its Big Deal for March 2020, which would enable you to turn your home or office into a connection hub. The SmartBroadband 80GB Wireless is an LTE data offer, which includes 40GB Telkom anytime data a month and 40GB night surfer data a month. The deal includes the following: 40GB Anytime data 40GB Night Surfer data A R99 Once-Off SIM activation fee D-LINKAC1200 DB router This deal offer is available from 1st March until 31 st March 2020. The subscriber who depletes their inclusive allocated data bundle can buy/top-up with the LTE/LTE-A Once-off data bundles which expire within…
Ellies, the maker of satellite dishes and TV aerials, is planning to retrench close to 200 workers at its subsidiary, Ellies Electronics. The equipment manufacturer has served trade unions with section 189 notices. It added that Ellies Electronics will enter into a formal consultation process with relevant stakeholders, regarding the restructuring of its goods receiving, warehousing, distribution, logistics and head office functions. The company attributed the restructuring to ongoing financial losses experienced by Ellies Electronics. “The restructuring will result in the rationalisation of overheads and the realisation of other efficiencies required to restore profitability and ensure the existence and longevity of…
SelfSure, a new fintech in South Africa, has come up with a smart way to solve the problem faced by many car owners when they put in a claim after an accident. After paying premiums each month to cover their vehicles, consumers are often shocked at the thousands of rands they still need to pay to cover the excess. The brainchild of an actuary, Proud Chitumba, SelfSure’s Excess Wallet ensures that you pay zero excess no matter the size of your claim while reducing your car insurance premiums without having to change your insurer. Chitumba explains, “South African policyholders believe…
As part of its plans to roll out payment service bank seamlessly in Nigeria, MTN says it has registered about 108,000 mobile money agents across the country since August when it began the super-agent service. “We launched a super-agent service in August and are pleased with the initial rollout and uptake of the service,” said MTN Nigeria CEO, Ferdi Moolman. “We continue to make good progress with the expansion of our super-agent network and are confident that the expanded service offerings will position us to effectively drive broader financial inclusion as well as roll out the payment service bank seamlessly,…
MTN will invest about N600 billion (R32 billion) in Nigeria’s network, Africa’s largest mobile phone operator announced on Sunday. The investment will be made over the next three years. The South African-based company said this investment will enable it to accelerate its 4G network expansion, deepen population coverage and support the Federal Government’s broadband initiative. “We are excited about the possibilities that the transition to digital presents for our business, and the growth and development of Nigeria.” Expanding 4G network coverage to deliver highspeed internet to more people nation-wide and data revenue growth remain in focus, said the company. “We…
JSE-listed technology group Blue Label Telecoms has returned to profit for the first time in years, buoyed by Cell C write down. The company has lost 80% of its value over the past two years due to its investment in struggling Cell C. The group, which owns 54% of struggling mobile phone operator Cell C, and Net 1 have written down to zero the value of their stake of the embattled mobile network which last year reported an R8 billion loss in the year to June, hit by impairments. Consequently, Cell C’s financial results did not have an impact on Blue Label’s…
A new South African startup is trying to introduce the world to the country’s multicultural and deeply awesome creative talent. The startup, Fierce, is primarily focused on servicing the international market through facilitated ‘offshoring’, a term gaining traction amongst clients seeking exceptional skills from cost-effective markets. Unlike outsourcing, offshoring is primarily a geographic activity. In the West, goods are expensive because the staff required to produce and distribute them are costly. In the developing world, by contrast, vast inexpensive labour pools provide an easy bedrock for a low-cost economy. Offshoring takes advantage of these cost differentials by relocating factories from…