Author: Gugu Lourie

Services group CSG Holdings is to be delisted from the JSE after the Patrice Motsepe-backed ARC Fund acquired its remaining shares. CSG offers staffing solutions and facilities management. The offer to buy CSG for cash consideration of 35c a share is being done through UBI General Partner, in its capacity as general partner of the ARC Fund, which through its wholly-owned portfolio investment company, Gemcap, is a 24.8% indirect shareholder in the company. CSG advised its shareholders that one of the conditions for the offer is that the company must be delisted from the JSE. “The transaction will be implemented…

JSE-listed banking group Nedbank’s super app Avo, launched during the national lockdown height, announced today it has  reached the 500 000-customer mark. The milestone comes as Avo launches its ‘Green is the New Black’ campaign for the hotly anticipated Black Friday season. With incredible up to 70% off deals in shopping, to R1 shock takeaway deals, Avo has something for everyone this month. “The growth we have seen on Avo has not only been exponential but inspiring in terms of how hungry South Africans are for the convenience of digitisation,” says, Ciko Thomas, Managing Executive: Retail and Business Banking at…

The Central Bank of Nigeria (CBN) has finally given an approval in principle towards the licensing of MoMo Payment Service Bank (PSB) by MTN Nigeria. MTN Group announced today that MTN Nigeria, as promoter, received an approval in principle dated 4 November 2021, from the CBN for its application to operate the proposed MoMo Payment Service Bank. “This is the first step in the process towards a final approval, subject to the fulfilment of certain conditions as stipulated by the CBN,” MTN informed investors. The company affirmed its commitment towards financial inclusion agenda of the CBN and the Federal Republic…

MTN Group announced on Thursday its plans to proceed with a public offer to sell up to 575 million shares in its Nigeria business by way of a bookbuild to institutional investors and fixed price to retail investors. The company said the offer is anticipated to open in November 2021 with a bookbuild to institutional investors, after which a fixed price is expected to be announced for retail investors also in November 2021. MTN added that the offer is expected to close in December 2021. “This is the first step in our previously communicated statement of intent to sell down…

MTN Group announced on Thursday that it has added Active MTN Mobile Money (MoMo) customers increased by 2.2 million to 51.1 million. “We advanced financial inclusion, reaching 51 million MoMo customers in 16 markets, processing almost 20 000 transactions a minute, with the value of transactions up 67.2% year-on-year to $175.5 billion or R2.7 trillion,” said Ralph Mupita, CEO of MTN Group. Mupita said the group as it establish and scale its payment platform, the number of active merchants accepting MoMo payments increased by 58.3% year-on-year to 626 033 and the total value of MoMo merchant payments rose by 46.5%…

MTN Group announced on Thursday that it has added 4.1 million new data users in the quarter to September 2021 to reach 119 million total data subscribers. The company attributed this a robust demand for work-from-home services, digital entertainment as well as online education. Africa’s biggest mobile phone operator said this growth reflected a 52.6% growth versus the same period in 2020. The group said as a result data revenue grew by 34.5%. “It’s been a busy quarter, and I’m particularly pleased with the sustained operational momentum across our businesses,” said MTN Group President and Chief Executive Officer Ralph Mupita.…

Anglo American has appointed local insider Duncan Wanblad as its new CEO, replacing Mark Cutifani, the  JSE-listed mining group announced on Wednesday. Cutifani is retiring next year after nine years in the role. South African-born Wanblad will assume his new role on 19 April 2022. “I am honoured that the Board has given me the opportunity to lead this great company and our wonderful colleagues around the world. Having started my career underground as a junior engineer, I have never lost sight of what it takes to produce the metals and minerals that are ever more vital to support our…

South Africa’s online farm-produce marketplace HelloChoice is now reaching over 2,300 agricultural produce buyers and sellers. They have joined HelloChoice via its website and mobile app, trading over R150 million in the first three years. The marketplace aims to modernise the traditional buying and selling of agricultural products such as vegetables, fruits, meat, dried beans and grains. HelloChoice also announced today an upgraded and enhanced version of the mobile app, bringing new features for both buyers and sellers. Responding to buyers’ needs to get the latest and up-to-date real-time offers as soon as they are available, the updated mobile app…

Mercedes-Benz today announced that it will be offering Dolby Atmos Music to a range of its top car models, providing the ultimate in-car audio experience to its customers and allowing listeners to connect with music to its fullest. The Dolby Atmos experience will be built into the optional Burmester high-end 4D and 3D sound system as well as integrated into the Mercedes-Maybach and shortly afterwards in the Mercedes-Benz S-Class, turning the Mercedes-Benz vehicles into state-of-the-art concert halls on wheels. Powered by a total of 31 loudspeakers and eight sound transducers, also known as exciters, which will also be mounted into…

Facebook changed its corporate name to Meta as part of its bet on the next digital frontier called the metaverse. The change came after the social network giant came under fire for spreading misinformation and other issues. On Thursday, CEO Mark Zuckerberg introduced Meta, which brings together our apps and technologies under one new company brand. Meta’s focus will be to bring the metaverse to life and help people connect, find communities and grow businesses. “As we embark on this next chapter, I’ve thought a lot about what this means for our company and our identity,” Zuckerberg said in the…

Pick n Pay ASAP!, formerly known as Bottles, is firing on all cylinders as shoppers see value in the grocery delivery mobile app. The retailers announced on Wednesday that comparable headline earnings per share (HEPS) swelled by 90.9% year-on-year, a resilient performance in a period marked by unprecedented civil disorder in South Africa and the resumption of government restrictions on alcohol sales in response to the third wave of the COVID-19 pandemic. HEPS is South Africa’s main profit gauge. Pick n Pay said it entered the financial year with positive trading momentum, and delivered a strong first-quarter result, with sales…

SA’s Telkom has recently partnered with Shop Lenovo to offer broadband solutions to customers of Lenovo. Through this partnership, Lenovo customers can now get laptops with varied Telkom Smart Broadband data packages. Telkom deals that are now bundled with selected Lenovo laptops are available through the Lenovo online store at www.shoplenovo.co.za on 24 months and 36 months contracts. These launch offers include a Mi-Fi router and for a limited period a wireless mouse, Microsoft Office 365 and a backpack. “We are thrilled to partner up with Lenovo to expand our customer reach and address their technology needs; it’s the perfect…

SEACOM, a fibre-led telecoms provider and owner of extensive ICT infrastructure across Africa, has announced a 100 Gbps upgrade for its IP network. This investment will allow Internet Service Providers (ISPs), CDN’s, Global and African Providers to leverage SEACOM’s network infrastructure to access the increased flexibility, scalability, and capacity that this upgrade will enable and will also benefit downstream connected business and Internet end-users in the region. SEACOM launched the first submarine cable system on the East Coast of Africa in July 2009, providing the continent with fast, reliable, and cost-effective fibre connectivity. In 2014, SEACOM pioneered 10 Gbps IP…

The Competition Commission has approved the acquisition of Fast+Furious by DPD Laser. The announcement is big news for an industry rapidly consolidating to cope with the demands of South African e-commerce due to the pandemic and its ongoing lockdowns. Most importantly, the acquisition is a key signal that, while South Africa may be struggling with record unemployment, some sectors are growing beyond expectations to satisfy the demands of new digitally-driven markets and South Africa’s awakening to the Fourth Industrial Revolution. The acquisition is expected to notably increase DPD Laser’s presence and influence in the express distribution market. DPD Laser’s majority…

South African FinTech start-up Peach Payments has recently set up an office in Mauritius in pursuit of its pan-African expansion strategy. This follows a foray into Kenya in 2018. The startup was set up in South Africa in 2012. Peach Payments is a payment gateway offering simple, seamless and secure online payment services that enable businesses to easily accept payments on their websites and mobile apps, integrating with leading e-commerce platforms like WooCommerce, Shopify, Wix and Magento. Last year, Peach Payments saw a 400% increase in customer acquisition and revenue growth of 130%. After securing investment last year from a…

There have been major shifts in the South African subscription video-on-demand (SVOD) market, especially among the larger players. During Q3 2021, Amazon Prime Video increased its market share by 3%, from 25% to 28%. Netflix and Mubi both decreased by 1% over the last quarter. This is according to the latest figures from JustWatch, an international streaming guide with more than 20 million users. Market share development in 2021 Justwatch added that it appears that Amazon Prime Video has come closer to closing the gap with Netflix. Since January 2021, Netflix’s market share has decreased by 3%, meanwhile, Amazon Prime…

To understand the new smart monitors and other pro devices of tech health, we should look to Silicon Valley and the quantified movement of the latest generation. Apple’s Watch records exercise, tracks our moves throughout the day, assesses the amount of time we are stood up and reminds us to get up and move around if we have been sat for too long – let’s not forget Tim Cook’s “sitting is the new factor” line. Routinely evaluating your risk factors for various medical conditions, screening for cancer and other diseases, and assessing your lifestyle habits helps you stay healthy. It’s…

To understand the new smart monitors and other pro devices of tech health, we should look to Silicon Valley and the quantified movement of the latest generation. Apple’s Watch records exercise, tracks our moves throughout the day, assesses the amount of time we are stood up and reminds us to get up and move around if we have been sat for too long – let’s not forget Tim Cook’s “sitting is the new factor” line. Routinely evaluating your risk factors for various medical conditions, screening for cancer and other diseases, and assessing your lifestyle habits helps you stay healthy. It’s…

Jungfrau A. Bietschhorn This region is a magnificent area with high mountain ranges, glaciers and is actually the most glaciated part of the European Alps. Visiting this area can be done relatively easy by car and if you want to go up, by train up to 3,400 metres above sea level, the highest train ride in Europe, the Jungfrau Railway is very impressive (and expensive!). The area is on the UNESCO World Heritage list because of its unique and wide range of flora and fauna and geological importance regarding the creating of the High Alps.

To understand the new smart monitors and other pro devices of tech health, we should look to Silicon Valley and the quantified movement of the latest generation. Apple’s Watch records exercise, tracks our moves throughout the day, assesses the amount of time we are stood up and reminds us to get up and move around if we have been sat for too long – let’s not forget Tim Cook’s “sitting is the new factor” line. Routinely evaluating your risk factors for various medical conditions, screening for cancer and other diseases, and assessing your lifestyle habits helps you stay healthy. It’s…

TELKOMhas unveiled the October Big Deal, which is for you if connecting on the move is your vibe. Take monate with you whether you’re hustling, watching your favourite shows or entertaining your guests with a VIP playlist from Telkom Music. You can connect up to 64 devices at a time and bring monate to every space you’re in with the Huawei B535. Furthermore, seamlessly create a hotspot, no cables or installation required – just a fast connection to enjoy. The SmartBroadBand 40GB Wireless LTE SIM-Only deal offer with 80GB of data is available for R269 a month. The Telkom October Big Deal…

CAPITECBank, South Africa’s biggest digital bank, revealed that active digital users of the banking app, USSD channel, the internet or a combination of digital channels increased by 22% for the six months ended 31 August 2021. “Active digital users of the banking app, USSD channel, the internet or a combination of digital channels increased from 7.3 million at the end of August 2020 to 8.9 million at the end of August 2021, an increase of 22% (February 2021: 8.6 million),” Capitec said in a statement. As at the end of August 2021, there were 6 million active banking app users…

Swypa Delivery, a food delivery service born in the South African township of Tembisa in 2019, grew its fleet of four delivery scooters to 15 as it benefits from online shopping. The company has also benefited from the financial backing of the MultiChoice Innovation Fund. MultiChoice is partnering with South African entrepreneurs to build sustainable businesses is through the MultiChoice Innovation Fund – which links black majority-owned start-ups and small businesses in the technology, e-commerce, digital content, film and media space to the funding and support they need to become industry leaders and create jobs. MultiChoice partnered with 10 Small…

French broadcasting giant Group Canal+ has increased its shareholding to 15.37% in MultiChoice, Africa’s largest pay-TV operator. MultiChoice disclosed today that Group Canal+, which is owned by French media conglomerate Vivendi, has acquired an additional interest in the ordinary shares of the company, such that the total interest in the ordinary shares of the Company held by Group Canal now amounts to 15.37%. “As a publicly held company, MultiChoice regularly engages with its strategic partners and maintains an open dialogue with the investment community. The Group’s policy is not to comment on its individual shareholders nor on its interactions with…

MTN Group affiliate and Africa’s biggest tower operator, IHS Towers, seeks New York Stock Exchange listing. MTN said in a statement that its affiliate – IHS Towers – is pursuing a potential registered initial public offering (IPO) in the United States. MTN owns 29% stake in IHS Towers, and the remainder is held by French investment firm Wendel SA and Goldman Sachs & Co. IHS Holding Limited (IHS Towers) has on 16 September 2021, in the U.S., filed a Form F-1 registration statement with the U.S. Securities and Exchange Commission relating to a potential IPO on the New York Stock…