Author: Gugu Lourie

The Naspers and Prosus boards announced today that after 29 years of exemplary leadership and service, Basil Sgourdos will retire from his position as Group Chief Financial Officer and financial director of both companies. His retirement is effective 30 November 2024. Basil has had a broad and varied career at Naspers and Prosus having joined the company in 1994, initially as the finance manager of the South African operations division in MultiChoice before taking on a number of other global leadership positions within the group. He was appointed Group Chief Financial Director of Naspers in July 2014 and of Prosus…

In a challenging competitive landscape, Telkom Consumer recorded a 2.6% increase in revenue, reaching R6,589 million for the first quarter ended 30 June.. This improvement is attributed to Telkom’s data-centric approach, driven by both the Mobile business and the expansion of our fibre offerings. Revenue growth in the Mobile business was propelled by a 9.5% increase in external mobile service revenue, amounting to R4,996 million. Total external revenue rose by 5.3%, reaching R5,737 million. “This growth was fueled by our continuous delivery of innovative and value-oriented offerings, significantly boosting data consumption. Consumers increasingly sought value through our personalised pricing platform,…

Telkom has demonstrated notable success in the device insurance sector, serving approximately 1% of its customer base. This achievement emphasises the substantial growth potential within this market. Currently, Telkom boasts 161,612 device policies, generating an impressive R284.5 million in revenue. Despite this success, there remains ample opportunity for Telkom to expand its reach. By signing up more customers, Telkom can aspire to the levels of market penetration seen by competitors such as Vodacom and MTN, who have achieved significantly higher penetration rates in the device insurance market. The current figures reflect a promising start but also highlight the untapped potential…

As South Africa’s banks reduce ATMs due to increased digital banking adoption, high operational costs, and security concerns, the Shoprite Group offers a convenient solution for its customers. Shoppers can deposit and withdraw cash from their bank accounts at tills in all Shoprite, Checkers, and Usave stores nationwide. This provides customers with safe, convenient, and affordable access to their funds, even during load shedding, without the need for an ATM. Key Benefits Accessibility: With more than 2 100 stores (Shoprite, Checkers, and Usave supermarkets, as well as Shoprite and Checkers LiquorShops) and over 28 000 tills nationwide, customers can easily…

Gender equality has evolved from being a mere policy aspiration to a critical business imperative. South Africa’s major telecommunications companies are leading by example, placing their financial trusts in the capable hands of highly accomplished female leaders. This Women’s Month we celebrate South Africa’s telco’s top Chief Financial Officers. Raisibe Morathi – Vodacom Vodacom, the country’s largest mobile operator, relies on Raisibe Morathi to oversee its finances. Morathi joined the Vodafone-owned company in 2020, bringing a wealth of experience from the financial services sector. Her expertise is particularly valuable in navigating the booming mobile money space. With over 20 years…

Eskom today announced that copper cable thief Witness Sibanda has received a 15-year prison sentence. Sibanda was arrested at Camden Power Station after CCTV cameras detected movement around 9 PM. On 19 July 2024, the Ermelo Magistrate Court found Sibanda guilty of damaging and stealing essential infrastructure, as well as contravening South Africa’s Immigration Act. Essential and critical infrastructure crimes have the potential to significantly impact Eskom’s operations. Losses incurred because of this criminal activity amounted to approximately R100 000. The Judge laid down the judgment as follows: • Fifteen (15) years for damage to essential infrastructure. • Fifteen (15)…

Huawei Cloud is one of the top three cloud service providers in South Africa, according to Africa Analysis’ “2024 South Africa Cloud Computing Market Growth Forecast Report.” Despite only entering the cloud market in South Africa six years ago, Huawei has rapidly ascended the ranks. This achievement is particularly notable as nearly one in five surveyed users are running significant workloads on Huawei’s platform, showcasing the company’s strong competitive strategy in the region. The report indicates that the cloud market, valued at approximately R35 billion in 2023, is expected to grow to over R113 billion by 2028, highlighting the substantial…

Trading space in Woolworths Food grew by 3.2% for the 53 weeks ending 30 June 2024, while online sales increased by 52.8%, contributing 5.5% of South African sales. The retailers said the sales were driven by increased penetration of Woolies Dash offering, which delivered a 71.2% increase. Woolworths Food business delivered strong and above-market growth, reinforcing its strength and resilience, and the trust that customers place in our Woolies brand. Turnover and concession sales grew by 11.2%, and by 9.0% on a comparable 52-week period. On a comparable store basis, sales grew by 6.9%, notwithstanding the impact of taxi strikes…

OpenAI is stepping into the search engine arena, a field traditionally led by Google, by introducing SearchGPT. This new AI-driven search engine offers users real-time internet information access, marking a significant move for OpenAI in expanding its technological offerings. “We’re testing SearchGPT, a prototype of new search features designed to combine the strength of our AI models with information from the web to give you fast and timely answers with clear and relevant sources,” OpenAI wrote in its blog. “We’re launching to a small group of users and publishers to get feedback. While this prototype is temporary, we plan to…

Telkom recently unveiled a bold new brand and business repositioning under the inspiring tagline: Possible Begins Here. “This transformation is more than a mere update; it’s a pledge to realign our business with a singular focus—to empower our customers and ensure their possible begins with us. For Telkom, this isn’t just about streamlining processes; it’s about reimagining our entire customer experience, driven by a commitment to enhance interactions at every touchpoint.” Gugu Mthembu, Telkom’s Chief Marketing Officer, captured the essence of this transformation: “Our repositioning is about being your partner in life. Whether you’re a student connecting to a career-launching…