Author: Gugu Lourie

MTN’s super app platform, ayoba, has seen remarkable growth, expanding its user base by 28.6% year-on-year to reach 36 million monthly active users (MAUs) by the end of June 2024. This surge in users is largely attributed to the platform’s enhanced communication features, which have driven higher adoption and retention rates. Digital revenue for MTN increased by 19.3% year-on-year to R1.6 billion, bolstered by the company’s expansion into new business segments and the rising adoption of digital products, especially in key markets like Nigeria and Ghana. The company’s focus on scaling the Gaming and Video verticals also contributed to this…

Despite facing significant challenges in the first half of the year, MTN’s Bayobab delivered strong financial results. The company navigated a complex landscape that included the ongoing conflict in Sudan, local currency volatility, and disruptions caused by multiple subsea cable cuts. These cable cuts led to downtime for eight major subsea cables connecting the African continent, with four of these cables on the west coast of Africa experiencing simultaneous outages. Remarkably, Bayobab managed to restore service within a few days, leveraging existing redundant capacity links and the newly installed Equiano cable. In this challenging environment, Bayobab achieved a resilient financial…

MTN’s strategic push to diversify its business is paying off, with significant growth in fintech services and data traffic driving a notable increase in sales. By expanding beyond its traditional telecom offerings, the company is not only strengthening its market position but also tapping into new revenue streams that are proving to be highly lucrative. In constant currency, data service revenue increased by 21% in the six months to 30 June 2024 and fintech service revenue climbed by 27%. By the end of June 2024, MTN reported a modest 0.8% increase in its subscriber base, reaching 288 million across 18…

RansomHub ransomware operators have introduced a new malware, dubbed EDRKillShifter, to cripple security defenses in Bring Your Own Vulnerable Driver (BYOVD) attacks. Discovered by Sophos in May 2024, the malware exploits a legitimate but vulnerable driver to escalate privileges, disable Endpoint Detection and Response (EDR) tools, and seize control of targeted systems. During the incident in May, the threat actors – we estimate with moderate confidence that this tool is being used by multiple attackers — attempted to use EDRKillShifter to terminate Sophos protection on the targeted computer, but the tool failed,” Andreas Klopsch, a threat researcher at Sophos, wrote…

Hyperscalers AWS, Microsoft, and Google are intensifying their efforts to expand market share by leveraging artificial intelligence (AI), according to a recent report by Canalys. As the competition in the cloud industry heats up, these tech giants are increasingly turning to AI-driven solutions to differentiate their offerings and capture a larger slice of the rapidly growing cloud services market. Enterprise software sales through hyperscaler cloud marketplaces—led by AWS, Microsoft, and Google Cloud—are projected to reach $85 billion by 2028, up from $16 billion in 2023. The availability of cloud credits for third-party purchases and the emergence of new digital-first buyers…

C-CONNECT, South Africa’s newest virtual mobile network operator (MVNO), has launched nationwide, offering mobile subscribers more choice and competition. With a focus on providing affordable mobile services without compromising quality, C-CONNECT is set to become the top choice for savvy prepaid users. This innovative SIM-only prepaid brand operates on C-Cell’s robust network infrastructure, rewarding users for their everyday mobile activities. When subscribers top up their prepaid Airtime or Data, they earn 10% back in the form of Cha-Chings, an in-app currency that can be used to purchase items that enhance their lives. Cha-Chings can be redeemed for a variety of…

The Telkom FutureMakers enterprise and supplier development (ESD) programme has reported impressive successes – creating procurement and innovation impact worth R339 million, far exceeding its goals and impacting thousands of lives. These millions of rands worth of impacts in the 2024 financial year come in the form of procurement opportunities and innovation programmes to support developing enterprises and represent enormous growth from the 2023 level of R191 million. During the 2024 financial year, SMMEs in the Telkom FutureMakers programme increased to 428 from 320. Telkom’s investments in SMMEs and development programmes resulted in positive social and commercial outcomes in the…

Pick n Pay, a retailer with over 1,650 stores across seven African countries, has partnered with OpenText to supercharge its software testing processes. By leveraging generative-AI and private large language models (LLM), Pick n Pay has automated 95% of its software testing, cutting testing times by up to three days and significantly improving its digital services for ecommerce customers. Pick n Pay integrated OpenText’s cloud-based value stream management (VSM) and DevOps platform, OpenText ValueEdge, with the pioneering AI capabilities of OpenText DevOps Aviator, to meet the escalating customer demand for innovative digital shopping tools. By activating OpenText DevOps Aviator within…

Attacq and Hyprop Investments, two major South African shopping mall owners, are divesting their interests in Sub-Saharan mall assets worth R1 billion. The assets in question, located in Ghana and Nigeria, are being sold to Lango Real Estate Limited. The transaction involves a complex ownership structure: Attacq, via AIH International, and Hyprop, through Hyprop Mauritius, hold stakes in Nigeria’s Gruppo Investments and Ghana’s AttAfrica. Specifically, AIH International owns 25% and Hyprop Mauritius 75% of Gruppo’s shares, while both firms have a 50% stake in AttAfrica, with their economic interests being 27% and 73%, respectively. The sale will see these stakes…

Facing severe financial difficulties, South African major solar provider Hohm Energy, a solar power firm, has halted operations and entered business rescue. Struggling to manage its debt, the company has laid off an unspecified number of employees. A business rescue practitioner has been appointed to evaluate the situation and chart a path forward. Franc Gray, CEO of Hohm Energy’s parent company, Spark Energy Services, revealed to TechCabal that the company has ceased operations as it seeks legal guidance on its next steps. Gray acknowledged that Hohm Energy is currently not active in the market. “We are working with legal counsel…