Author: Gugu Lourie
Bayobab, a wholly owned subsidiary of MTN Group, has teamed up with Africa50, an infrastructure investment platform, to build a terrestrial fibre optic cable network connecting the eastern shores of Africa to those on the continent’s west. Bayobab, formely known as MTN GlobalConnect, has signed a partnership with Africa50 to develop Project East2West. The partnership will invest up to $320 million or R6 billion connecting ten African countries over the years 2023, 2024 and 2025. The Project East2West partnership will help bridge Africa’s connectivity gap by improving broadband access for landlocked African countries and offer substantial improvements for data traffic…
Vodacom said today that the ongoing power outages have been disastrous for the South African economy and the industry as a whole. The telecoms company, which is part of Vodafone, said it has spent more than R4 billion on backup power solutions such as batteries and generators since 2020, and another R300 million in the last financial year on additional operating costs in the form of diesel, security and maintenance. “We remain confident that the ‘virtual wheeling’ pilot project that we’re pioneering with Eskom, South Africa’s power utility company, will be signed off in the near term and that this…
Vodacom today announced that its super-app VodaPay has 3.3 million registered users. “I am particularly encouraged by the traction and transaction volume growth that our VodaPay super- app continues to attract through its 5.7 million downloads and 3.3 million registered users,” said Shameel Joosub, CEO of Vodacom. Vodacom added that VodaPay has registered over 100 mini-apps on the platform and is constantly adding more merchants “as we scale the apps and grow transaction volumes”. VodaPay provides a digital shopping, lifestyle and financial platform for consumers and businesses. “Our financial services strategy is supported by a dual-sided ecosystem across consumers and…
African telecommunications services and managed services provider Seacom says it has suffered a cyber security incident. The incident occurred yesterday and was confined to its hosting environment, Seacom said in a statement. However, the company added that the cyber attack affected a small number of its customers, all of whom have been personally notified and are being kept updated on recovery plans. “Our initial investigation has found that no customer data has been compromised,” Seacom said in a statement. “We want to assure our managed services, corporate and wholesale customers that the impact was limited to a small server environment…
LinkedIn is cutting 716 jobs and will begin phasing out InCareer, its local jobs app in China, by August 9, 2023. “Though InCareer experienced some success in the past year thanks to our strong China-based team, it also encountered fierce competition and a challenging macroeconomic climate,” said LinkedIn CEO Ryan Roslanky in a letter to staff. “While these decisions are essential for our business, they also mean that some of our teammates will be leaving LinkedIn for new opportunities. We are committed to providing our full support to those impacted.” LinkedIn, which is owned by Microsoft, plans to open up…
South Africa-based ThisTree Technology Distribution has partnered with NPP Power, the fourth largest manufacturer of lithium-ion batteries in China, to sell and distribute batteries in the South African market to drive the energy transition. NPP operates five different production facilities, including one in Ho Chi Minh City, Vietnam, and four in China (Dongguan, Guangzhou, Henan and Hunan). NPP Power has established sales offices in mainland China and overseas offices in North America, Europe and Africa to establish itself as a global player in the energy transition. NPP is entering the South African market for the first time. The company plans…
Wi-flix, the fastest-growing streaming platform in Africa, has expanded its presence to Zambia following the launch of its packages with MTN. The streaming platform is already available in Kenya, Ghana, and Nigeria. The streaming service is now available to consumers in the southern African country, providing over 30,000 hours of the best entertainment to Zambian audiences. MTN Zambia subscribers now have access to thousands of hours of unlimited premium content with the launch of Wi-flix in the Zambian market. Users can take advantage of daily, weekly, and monthly data packages starting as low as K1 + free 50MB for a…
The Empire Partner Foundation has today announced it is pioneering a tech week event, and awards program, which will give South African innovators the chance be recognised for their tech contributions at the inaugural event in Johannesburg at Gallagher Estate, on November 6 2023. The tech week and awards extravaganza will see hundreds of tech innovators gather in Johannesburg for the action packed event. The South African Annual Tech for Innovation and Social Impact Awards will be hosted in collaboration with the MICT SETA. This inaugural event celebrates the work of individuals and organisations in the technology sector who have…
Access Bank Plc’s parent company Access Holdco has raised $300 million to further to strengthen the bank’s capital base as proceeds of this will supplement the capital needs of its African expansion strategy. “The investment takes the form of a Tier 1 capital qualifying mandatory convertible instrument and is expected to improve the bank’s shareholders’ funds and total capital ratios,” Access Holdings said in a statement. PAC Capital Limited (PAC) acted as the Lead Financial Adviser and Fund Arranger to Access Holdco on its recently concluded $300 Million Investment Finance Facility. Speaking in relation to the facility, Humphrey Oriakhi, the…
MTN announced today that it has rolled out over 2 500 5G sites across its markets, mainly in South Africa and Nigeria. “In 2022, we rolled out 1 570 5G sites, mainly in South Africa and Nigeria, bringing our total number of 5G sites to 2 527,” Ralph Mupita revealed in MTN Group’s intergrated annual report. “We increased smartphone penetration to 58.0% of our customer base (up 3.8pp), as we continued our push for greater digital and financial inclusion.” MTN is rolling out 5G after winning spectrum in the Independent Communications Authority of South Africa (ICASA) auction. Additional spectrum is…
Ralph Mupita, the boss of Africa’s largest mobile phone firm MTN, was paid R69 million in 2022 financial year compared to R84.2 million in 2021. The total package of R69 million was made up of a R8.7 million salary and a R10.8 million in short-term incentives, plus R29 million million in long-term incentives (LTI) bonus. Group chief financial officer Tsholofelo Molefe scored R19.8 million, including a base salary of R8.2 million, short-term incentives of R10.2 million, while Group Chief Operating Officer Jens Schulte-Bockum received a package of R56 million. Board chairman Mcebisi Jonas received R4.8 million, including a R3.1 million…
The worldwide hydration drink phenomenon, PRIME, will be widely available to local fans – at the supermarket price of only R39.99 – as Checkers is confirmed as the official South African retail partner. PRIME has become an international viral sensation following its hugely successful launch in January 2022 by YouTube sensations Logan Paul and KSI who, combined, boast around 100 million social media followers. From Monday 1 May 2023, PRIME will be sold at selected Checkers and Checkers Hyper stores and on Sixty60 in the Western Cape, Gauteng and KwaZulu-Natal. It will roll out to the rest of South Africa during the month. Customers are invited to join Checkers and TikTok South Africa…
The City of Cape Town has allocated R80 million to fight crime through various technological measures, including dash and body cameras, video surveillance and drones. “Just over R48 million has been earmarked for additional and replacement CCTV cameras around the city in the new financial year, as well as the gunshot detection technology,” the city said in a statement. The R48 million budget is part of the proposed R432 million capital budget for 2023/24. The city’s Safety and Security Directorate said its investment in its CCTV footprint is well documented, and this investment continues, guided by the CCTV Rollout Plan.…
The Ocean on 76 Collective, led by Founder and CEO Prins Mhlanga, has announced the acquisition of Digiworx, an experiential marketing company. The Ocean on 76 Collective is thrilled to bring this calibre of experience to its current team as part of a deliberate move to bolster its fiercely competitive digital platform capabilities. According to Nomakhosi Skosana, Chief Operations Officer at Ocean On 76 Collective, Digiworx is an intriguing, female-led company that will complement our ecosystem of mobile marketing offerings. “This incredible 12-year-old business provides opportunities for increased growth and expansion attributable toward its impressive corporate clientele.” Founder and Managing…
TooMuchWifi, a Cape Town based internet service provider (ISP) is on a mission to improve connectivity for underserved communities. Accessing unlimited data must not be considered a luxury, it has become an essential part of our daily lives. Having no internet is a significant impediment to making a living, getting an education, registering a business or accessing the knowledge that exists on the web. It puts people from underserved communities, like Townships, at a disadvantage. Despite the need for a reliable internet connection, South Africa is among the countries with the most expensive data options in the world. According to…
Nashua, a subsidiary of JSE-listed electronics group Reunert, marked fifty years of operation at an event in Johannesburg this week and is repositioning itself as a Total Workspace Solutions provider. Nashua has certainly come a long way since 1979, when it first flighted an iconic television ad featuring legendary American Actor, Director, Writer and Producer Orson Welles. But the pay-off line Welles delivered in that ad remains core to Nashua’s Ethos all these years later: ‘Saving you time. Saving you money. Putting you first’. Nashua was established in 1973 as a specialist in the sale and service of liquid toner…
South Africa’s EasyEquities teams up with GCash, the largest and fastest growing mobile wallet in the Philippines, to help revolutionize the investment landscape for the Filipinos. “The partnership of two market-defining fintech companies can help revolutionize the investment landscape in the Philippines by making it a more accessible, friendly and affordable activity for everyone,” said Martha Sazon, President and CEO of Globe Fintech Innovations Inc, owner of Gcash. EasyEquities, which is owned by JSE-listed Purple Capital, will to bring managed portfolios of US shares to all Filipinos. The launch of this exciting partnership will be preceded by a Fantasy Investing…
Capitec boss Gerrie Fourie’s total remuneration has been cut by R30 million or 33% to R62 million in the 2023 financial year. The banking group announced in its 2023 annual report that Fourie’s total remuneration is R62 million, down from R92 million in 2022. The total remuneration consists of a guaranteed salary, which includes R16,9 million and R5,4 million in short-term incentives and R39,7 million in long-term incentives. Andre du Plessis, Capitec’s CFO, received total remuneration of R31 million for the 2023 financial year compared to R60 million in 2022. The banking group’s top four executives received a total of…
App-only bank, Bank Zero, today announced a new partnership with another innovative fintech player, iKhokha. This will provide business customers with a card machine solution with zero monthly rental fees, which seamlessly integrates with Bank Zero’s zero-fee bank account. “Business banking has remained stuck in a quagmire of high fees, poor service delivery and no real choice,” explains Michael Jordaan, chair of Bank Zero. “However, the landscape is rapidly changing thanks to innovative partnerships.” “Traditional banks focus on becoming platforms, which, in essence, force customers to get products from that one bank. Bank Zero is different. We embrace ecosystem thinking…
Transnet, which owns and operates the ports, rail freight, and pipeline network of SA, is looking for equity partner to manage and operate its fibre optic network and optical transport network. Transnet is increasingly turning to private partners to support the expansion and improvement of its operations – a key driver for the country’s economy. A tender document released on Tuesday specifies that the state-owned company also owns, operates, and manages fibre and optical transport networks through its Transnet Freight Rail (TFR) and Transnet Pipelines (TPL) divisions. TFR is responsible for the installation, maintenance, and upgrade of the fibre optic…
In an effort to strengthen South Africa’s position as an attractive investment destination, Transnet sponsored the fifth South Africa Investment Conference 2023 in Johannesburg. More than 1000 delegates from various industries in South Africa and around the world attended the conference. The theme of the conference was “Accelerating Economic Growth by Building Partnerships”. Transnet is South Africa’s state-owned logistics infrastructure company responsible for the port, rail and pipeline network aims to increase direct investment and foster partnerships with the private sector. Transnet’s participation at the event was opened by the Group CEO, Portia Derby, who participated in the SAIC Breakaway…
Capitec Bank announced that its retail customers using digital channels increased by 13% or 1.3 million new customers to 11.4 million by the end of February 2023, up from 10.1 million in 2022. The banking group, which aims to provide a no-frills, digitally-led banking solution, said its total active customer base grew by 11% to 20.1 million compared to 18.1 million in 2022. Capitec Bank’s long-term strategy is to move customers to more affordable and secure digital solutions. “The price changes in our banking fees during March 2023 reflected our long-term strategy with digital transaction fees remaining flat while cash-related…
Capitec today announced that its prepaid mobile service Capitec Connect has issued 500 000 SIM cards to subscribers by the end of February 2023. The banking group launched its mobile virtual network operator (MVNO) in September 2022. Capitec Connect piggybacks on Cell C’s mobile network infrastructure. Capitec GlobalOne transaction accounts can become Capitec Connect subscribers by connecting to the mobile virtual network by purchasing a SIM card from Capitec, which has been provisioned and activated on the mobile network. The bank claims that its prepaid mobile service offers flat, low prepaid data rates and no top-up charges. “Capitec Connect data…
MTN today announced the appointment of an insider, Abbad Reda, as the CEO of Zambia operations. Reda will replace Bart Hofker. His appointment is effective May 1, 2023. With more than 20 years of experience, Abbad has successfully delivered market share, revenue, and profit growth. Abbad joined MTN Group in 2002 and has held several senior positions, including Chief Information Officer for MTN Ghana, CEO for MTN Liberia, and is currently the CEO of MTN Afghanistan. Abbad holds an Executive MBA from CEIBS and a Bachelor of Engineering in Computer and Communication Engineering. He has also participated in MTN’s Global…
Secha Capital and Hassium Capital took a big bet on FarmTrace, a South African agri-tech farm solution. The companies are investing an undisclosed amount of capital into FarmTrace, which is based in Tzaneen, Limpopo and Stellenbosch, Western Cape. FarmTrace is the only cloud-based farm management tool that offers a diverse range of tools to help farmers manage their operations. Jacques du Plessis, FarmTrace co-founder and CEO said, “FarmTrace started in 2015 and we have boot-strapped exponential growth by working intimately with our clients to solve their needs. We have a long back-log of interested farms, so we decided to raise…