Author: Gugu Lourie

Speaking at a keynote of the MWC Shanghai 2024 for the 5G-A & AI Roundtable, the Vice President and Chief Marketing Officer of Huawei Wireless Solution Eric Zhao unveiled a plan to bring AI to networks. The plan focuses on building an ecosystem of RAN Intelligent Agent in collaboration with operators to increase network productivity. Its first phase looks to cover 1,000 site engineers and 10,000 sites across Hangzhou, Guangzhou, Bangkok, Jinan, and Shenzhen within a half year. After three years of arduous efforts, the telecom sector has seen 5G-A progress from vision to reality, and 2024 has been hailed…

At MWC Shanghai 2024, Huawei hosted the Global Launch of 5G-A Pioneers Programme. The event, themed “driving shared success with 5G-A”, brought together pioneering 5G operators from around the world, including China’s “big three”, as well as HKT, du, and Oman Telecommunications. At the event, they discussed how to drive the high-quality development of 5G-A networks and how to seize opportunities from the upcoming intelligent world to create new market space for growth. 5G has become the fastest developing generation of mobile communications technology that we have ever seen. The pioneering operators who first adopted 5G have all achieved phased…

BMW has unveiled the fourth generation of its popular X3 midsize Sports Activity Vehicle (SAV), boasting a comprehensive update that includes a sleek new exterior design, a modernised interior with the latest technology, and upgraded powertrain options. These enhancements reinforce its position in the premium SAV market. The BMW X3 is set to launch in South Africa in the fourth quarter of 2024. The new BMW X3 will be built at BMW Group Plant Spartanburg (USA) and Plant Rosslyn (South Africa) using a production process focussed on conserving resources and circularity. The new BMW X3 introduces significant advancements in efficiency…

Sanlam Life, a wholly-owned subsidiary of Sanlam, will acquire a 60% shareholding in MultiChoice’s insurance business, NMS Insurance Services (SA) from MultiChoice. Sanlam Life is buying NMSIS for an upfront cash consideration of R1.2 billion and a potential performance based cash earn-out, measured at 31 December 2026, of up  to a maximum consideration of R1.5 billion. MultiChoice to retain a substantial 40% interest in NMSIS and 40% in the broader commercial venture with Sanlam, allowing MultiChoice to continue benefiting from the high-growth potential of this segment while maximising value for its shareholders. A pre-acquisition dividend of R59.0 million will be…

It’s easy to take things for granted, like strolling into the market and grabbing a basket of fresh, ripe strawberries. But getting fresh produce into the hands of consumers has become increasingly challenging due to climate change, intricate supply chains, and rising costs, among other factors. Over $1 trillion worth of perishable food goes directly from farms to landfills every year – equal to 130 billion meals. And that number is only going up. From seedling to store display, a lot needs to go right to get delicious berries to you – the ultimate consumer. One company considering every step…

Africa Data Centres, part of the Cassava Technologies group, has secured funding to expand its data centre capacity in response to the growing demand for cloud computing services in South Africa. This funding was arranged by RMB, highlighting Africa Data Centres’ strong financial standing and dedication to South Africa’s digital transformation. “This funding is a significant milestone in the growth of Africa Data Centres,” said Hardy Pemhiwa, President & Group CEO of Cassava Technologies. “It underscores our commitment to growth and our confidence in the future of the South African data centre market. The additional funding will allow us to…

In 2024, Vodacom CEO Shameel Joosub’s salary skyrocketed to an astonishing R73.5 million, a jaw-dropping increase of R10 million from his previous earnings. Joosub’s total package included a guaranteed salary of R16 million, R1.2 million in retirement contributions, R20.6 million in short-term incentives, and a remarkable R35 million in long-term incentives, according to the operator’s integrated annual report. “I am filled with gratitude to have been part of Vodacom’s growth journey over the past 30 years. While I reflect proudly on our milestones, it is our ongoing purpose to connect for a better future and drive inclusion that fuels my…

Entersekt, the financial authentication company, has announced that PAPE Fund 3 has expanded its investment in the company. Initially investing in July 2022, PAPE Fund 3 recently acquired Nedbank Private Equity’s stake in Entersekt, thereby increasing its total investment and ownership. Nedbank Private Equity operates under Nedbank Corporate and Investment Banking. PAPE Fund 3, a R1.06 billion private equity fund fully dedicated to South African mid-cap unlisted businesses with international growth, originally invested in Entersekt International in July 2022. Managed by PAPE Fund Managers, a Level-1 rated Black Empowered fund manager, PAPE Fund 3’s investment has bolstered Entersekt’s BEE credentials.…

JSE-listed retailer Mr Price has reported remarkable performance for its cellular standalone stores, contributing to the group’s impressive R37.9 billion in revenues for the 52 weeks ending March 30, 2024, an increase of 15.5%. Today, Mr Price said the Telecoms segment saw a 10.2% increase in retail sales, reaching R1.2 billion, with comparable sales growing by 1.5%. The Telecoms segment sells cellular products and services. Mr Price Cellular standalone stores continued to perform strongly, leading to the opening of 30 new standalone stores during the period. The expansion brought the total footprint, including combo stores, to 804 locations. According to…

JSE-listed retailer Mr Price is on the brink of a significant financial milestone as its Financial Services Division approaches R1 billion in revenue. The achievement emphasises the division’s rapid growth and key role within the company, highlighting Mr Price’s expanding footprint in the financial sector. Mr Price announced today that its Financial Services segment revenue had risen by 4.8%, reaching R869 million. This growth is driven by a 12.1% increase in debtors’ interest and fees, attributed to a higher average debtors’ book and a 50 basis point increase in the repo rate over the period. Despite challenging economic conditions, the…