Author: Gugu Lourie
JSE-listed South African casino and hotel group Sun International announced today that its online betting platform, Sunbet, continues its exceptional growth trajectory and is exceeding its targets. Sun International informed investors that Sunbet’s overall income was up 71.8% for the six months to 30 June 2024, reaching R512 million and delivering a record adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), pre-management fees, of R170 million, an increase of 88.9% compared to the prior period. Sunbet’s active players continued to grow, with additional games being offered and the overall player experience being enhanced. “While customer acquisition is key, retention…
The ICT SMME Chamber and Seacom have partnered to advance small, medium, and micro enterprises (SMMEs) growth as a key driver of economic transformation and job creation. This Memorandum of Understanding (MOU)marks a pivotal step in unlocking the full potential of SMMEs within South Africa’s ICT sector. The partnership is grounded in the Triple Helix Model of Engagement, fostering collaboration between government, the private sector, and civil society, serving as a key driver for inclusive growth and sustainable job creation. Loyiso Tyira, Managing Director of the ICT SMME Chamber, emphasised that the true measure of success for this model will…
In a dramatic twist to the long-running “Please Call Me” service compensation dispute, South Africa’s Constitutional Court has dealt a major blow to Vodafone – the parent company of Vodacom. On Friday, the court rejected Vodafone’s bid to be a friend of the court (amicus curiae) in the high-profile legal brawl between Vodacom and Nkosana Makate, the creator of the “Please Call Me” service. Vodafone has maintained a close relationship with its subsidiary throughout this drawn-out legal battle. However, Vodafone’s attempt to position itself as a neutral party – ready to assist if required – was shot down by the…
Telkom has announced a promising decline in criminal activities targeting its operations, signaling that its preventive measures are proving effective. From April to June, the company reported losses of R3.8 million due to criminal activities such as copper cable theft and infrastructure vandalism, a significant decrease from the R10.1 million lost during the same period last year. Simile Ndlovu, Telkom’s Executive for Forensic, Security, and Insurance, shared with Business Times that the company is addressing various crimes, including copper theft, fiber damage, damage to exchanges, battery theft, and robberies involving technicians working on infrastructure. “We are happy with one fact:…
Vodafone, the global telco based in London, has hit a legal stumbling block in its attempt to intervene in the long-running court dispute between Vodacom and Nkosana Makate, the creator of the “Please Call Me” service. Vodafone and Vodacom maintain a close relationship. Vodafone holds a significant stake in Vodacom. As of 2024, Vodafone owns 60.5% of Vodacom. Vodafone’s request to join the case as Amicus curiae (a friend of the court) was denied, marking the latest twist in the drawn-out battle over compensation for the widely-used messaging innovation. The letter to Vodafone reads in part: “The Constitutional Court has considered the application…
Metrofile today announced that Group Chief Executive Officer Pfungwa Serima, who has held the role since 1 February 2016, will step down effective 30 September 2024. However, Serima will remain with the company on a full-time basis until 31 December 2024 to ensure a smooth leadership transition. Serima informed the board of his desire to pursue new opportunities after three decades in corporate leadership. Under his leadership, the JSE-listed company saw significant progress, particularly in advancing its digital strategy. When he joined, digital services contributed less than 1% to revenue, but by the end of the 30 June 2024 financial…
The Gauteng Department of e-Government requires R700 million to upgrade the province’s internet infrastructure, but currently lacks the necessary funds, according to the DA. This leaves the government’s systems vulnerable to data breaches and hacking, putting service delivery to residents at risk. During a recent oversight visit by the Portfolio Committee on e-Government to the Security Operations Centre (SOC) in Rivonia, it was revealed that cybersecurity remains a pressing concern. Although there have been hacking attempts, no breaches have occurred so far. The existing security strategy, developed for the 2020/2025 period, should be updated annually to keep pace with technological…
Amazon Web Services, Inc. (AWS), a subsidiary of Amazon, announced that Gold Fields, a global gold producer, has successfully migrated its end-to-end SAP and treasury systems to AWS as part of its digital transformation strategy. This partnership has allowed Gold Fields to modernise its technology infrastructure, leveraging AWS’s analytics, machine learning (ML), and generative artificial intelligence (AI) capabilities to improve operational efficiency, enhance workplace safety, and become a more data-driven organization. “AWS is helping us modernise our infrastructure, improve our governance, and drive cost efficiencies,” said Strini Mudaly, Group ICT Vice President at Gold Fields. “We selected AWS as our…
The Shoprite Group, Africa’s largest retailer, unveiled its capital expenditure for the 2024 financial year. The JSE-listed company, which also owns Checkers, reported a total capital spend of R7.8 billion, up from R6.8 billion in the previous year. This expenditure represented 3.2% of Shoprite’s sales in 2024, compared to 3.1% in 2023. “The majority of the capital expenditure relates to expanding and upgrading our core Supermarkets RSA store portfolio as well as our continued investment in digital commerce and technology-related expenditure,” the company informed investors. During the period under review, Shoprite successfully completed a 41,000 sqm extension of its distribution…
Is Checkers Sixty60, Shoprite’s digital on-demand grocery delivery service, beginning to lose momentum? Today, the Shoprite Group announced that Checkers Sixty60 saw a 58.1% increase in sales for the 2024 financial year. However, this growth is notably lower compared to the 81.5% rise reported in 2023. The company did not provide an explanation for the slowdown in sales growth for Checkers Sixty60 during this reporting period. In addition, Shoprite revealed that advertising expenses increased by 10.5% to R4.1 billion, driven by heightened activity from its Rainmaker Media and Sixty60 on-demand business units. The JSE-listed retailer also disclosed a 13.1% rise…