Author: Gugu Lourie

The application channels for the R350 COVID-19 grant will be opened from Friday, 06 August, Social Development Minister, Lindiwe Zulu, announced on Wednesday. The first payments will be made by the end of the month. President Cyril Ramaphosa announced last month that the government would reinstate the grant. How to apply for the R350 COVID-19 Grant? “Noting that R350 COVID-19 grant is still very much upon us, we will continue with measures to limit face to face interactions to manage social distancing and use the frontline application systems which had proven to be successful during the initial implementation of this…

Telkom announced today, the appointment of Serame Taukobong as Group CEO Designate with effect from 01 October 2021. TechFinancials speculated as early as February that Taukobong might be in the race to occupy the hot seat at Telkom. For more read: Is Serame Taukobong Heir Apparent to Telkom Boss Sipho Maseko? Making the announcement, Sello Moloko, Chairperson of Telkom said the organisation was pleased that its extensive search process confirmed the calibre of Telkom’s people. “Serame is a seasoned executive, with deep experience in the ITC sector in South African and the continent. “His appointment of Serame ensures continuity of…

Telkom Mobile – a growth engine for Telkom Group – continues to experience strong mobile and data subscriber growth for the first quarter ended June 2021 despite concerns from experts that this growth would taper off as competition intensifies. Telkom, valued at more than R20 billion, informed investors today that its revenue rose 3.5% year on year to R10.6 billion, mainly driven by the mobile business. The company, led by Sipho Maseko, who is leaving next year, said the Mobile business and the Masts and Tower (M&T) portfolio sustained their growth trajectory into the first quarter. While, the Consumer business, which includes Telkom…

MTN South Africa is planning to expand 5G – the fifth-generation wireless network – into Gqeberha and East London. The company said on Tuesday the plans are part of its R170 million investment in the Eastern Cape to offer consumers and businesses greater access to the world of digital opportunity in this important economic hub. “Our investment in the Eastern Cape will, in the short-term, ensure improved connection and data speed in areas that may have had connectivity challenges in the past while our longer-term strategic intent includes network modernization, network resilience, building new sites and 5G expansion, with the aim…

South African AgriTech Startup Khula has closed a seed round to the value of R20 million led by JSE-listed chemicals giant AECI. The company said on Wednesday that the funds will be used to expand to the rest of the African continent. The AgriTech startup provides small-scale and commercial size farmers with software and a marketplace to grow their business. Khula has been in an intensive pilot over the last three years, working with farmers of all sizes across South Africa. AECI has acquired a minority interest in Khula, as they believe that the platform will enable greater access to…

Sherry Singh, CEO of Mauritius Telecom, today launched the my.t 5G Experience Zones at the Hennessy Park hotel, Ebene, in the presence of Honourable Deepak Balgobin, Minister of Information Technology, Communication and Innovation. With the deployment of four 5G Experience Zones in Ebène, at the University of Mauritius, at Bagatelle Mall and La City Trianon, Mauritius Telecom is propelling Mauritius on the world map of countries that have launched 5G. The country is now among the Top 10 African countries that have deployed this technology. Taking up the 5G challenge on the Mauritian market Singh stated that 5G is a…

MTN announced today that is a step closer to resolving the Afghanistan terrorism lawsuit. In the court papers, American families argue that for more than a decade, MTN has been integral to the Taliban’s terrorist campaign against Americans in Afghanistan. Africa’s and the Middle East biggest mobile phone operator faces a lawsuit filed United States District Court for the District of Columbia for violation of the anti-terrorism act. For more read: MTN To Defend Itself Against US Lawsuit for Alleged Funding the Taliban The American families argue alleges that the company paid the Taliban for protection, providing the insurgency with money…

Payments company Square today announced it is buying Australian “buy now, pay later” provider Afterpay in a $29 billion or R417 billion all-stock transaction. The acquisition aims to enable the companies to better deliver compelling financial products and services that expand access to more consumers and drive incremental revenue for merchants of all sizes. For Square, whose chief executive Jack Dorsey is also Twitter’s CEO, “Buy Now, Pay Later” (BNPL) presents an attractive opportunity supported by shifting consumer preferences away from traditional credit, especially among younger consumers, consistent demand from merchants for new ways to grow their sales, and the…

Telkom today unveiled the August Big Deal, which is data-packed and here to save you big bucks. The SmartBroadBand 20GB Wireless LTE SIM-Only August big deal offer with 80GB of data is available for R199 a month. The price for the SmartBroadband Wireless Unlimited Business Hours SIM-Only shall be available for the period from 1st July 2021 until 31st July 2021. The Telkom August Big Deal deal includes the following: 20GB Anytime data 20GB Night Surfer data Plus 20GB Anytime data 20GB extra Night Surfer data Huawei or D-Link router for an extra R70 R99 Once-off activation fee Also read: Telkom Enters The…

MTN Nigeria mobile subscribers declined by 7.6 million to 68.9 million for the half-year ended 30 June 2021, impacted by the regulatory restrictions on new SIM sales and activations. Last December, the Nigerian Communications Commission (NCC) announced that the Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim (Pantami) directed the NCC to embark on another audit of the Subscriber Registration Database again. The regulator directed telecoms firms to stop selling SIM cards while it audits compliance with SIM registration rules. For more read: Regulatory Restrictions On New SIM Sales Bite Into MTN Nigeria Subscribers The restrictions were lifted on 19 April 2021.…

London-listed telecom firm Airtel Africa announced today plans to sell $200 million or R2.9 billion stake in the mobile money business, the Airtel Mobile Commerce BV.  Qatar Holding, an affiliate of the Qatar Investment Authority (QIA), will invest $200 million in Airtel Mobile Commerce BV. AMC BV is the holding company for several of Airtel Africa’s mobile money operations, and ultimately is intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries. Airtel Africa is exploring the listing of the mobile money business. For more read: Airtel Africa Mulls Floating The Mobile Money Business “With today’s…

JSE-listed technology group Altron has appointed Nicholas Bofilatos as Group Chief Financial Officer with effect from 29 July 2021. Bofilatos, who takes over from Cedric Miller, joined Altron in 2019 and was Finance Executive: Change Management. He has more than 15 years’ experience in finance leadership positions and was previously Group CFO at Ctrack Holdings. A Chartered Accountant by training, Bofilatos holds a Bachelor of Commerce degree from the University of Pretoria as well as a Bachelor of Accounting Science (BCompt Hons) and Certificate in Theory of Accountancy from the University of South Africa. “I am delighted to take over…

“I feel now is the right time for me to step aside and make way for a new leader who will take Telkom to even greater heights,” Sipho Maseko, Telkom CEO, said on Friday. Telkom informed investors today that Maseko will leave Telkom next year. “I will stay on until June 2022 to ensure a smooth transition for my successor. I am most thankful to my colleagues across our country, for trusting me to lead Telkom, and for supporting me throughout this journey of transition.” Maseko joined Telkom eight years ago from rival Vodacom at a time when the organisation…

Sipho Maseko is stepping down as CEO of Telkom after nine years in the job. The company informed investors on Friday that Maseko will depart on 30 June 2022. “The process to appoint a successor is well underway and a designate Group Chief Executive Officer (GCEO) will be announced in the not too distant future. Sipho would, for the remainder of his tenure, ensure the incoming Group Chief Executive Officer designate’s orderly transition into the role,” Telkom said in a statement. Maseko joined Telkom on 1 April 2013 at a time when the organisation faced severe challenges. During his eight-year…

Vodacom today announced financial results for the first quarter ended 30 June 2021. The Vodafone-owned telco recorded a strong revenue of R24.8 billion, which was up 9%, and if the rand did not strengthen normalised growth would have been 14.2%. The rand appreciated by 20% against a basket of our international currencies, impacting reported growth. Vodacom added that its international portfolio delivered normalised service revenue growth of 13.5%, marking a meaningful recovery from the prior financial year. The company said this performance was supported by M-Pesa revenue growth, up 43.2% on a normalised basis, which benefited from the increased customer…

5G– the fifth-generation wireless network – is about astounding speeds and almost zero latency – the lag time between when your phone pings the network and when it responds. MTN South Africa continues to invest in 5G across the country and is switching on the network in various towns. The company announced today that it has switched on the network in Mpumalanga at eMalahleni (previously Witbank) and Polokwane in Limpopo. “MTN is making strides with its 5G technology rollout strategy,” says Kagiso Moncho, MTN General Manager for Northern Region. “We have already activated 5G in greater Polokwane and Witbank, and…

Pick n Pay has rebranded the Bottles app into Pick n Pay ASAP! as the retailer sees a jump in online sales spurred by a pandemic-led digital boom in South Africa. In November 2020, Pick n Pay said it purchased the application system infrastructure and the related intellectual property relating to the Bottles on-demand mobile application for a purchase price of R33 million. The company launched in 2016 as South Africa’s first alcohol on-demand delivery app and partnered with Pick n Pay in 2018.  Its offer was the first of its kind, promising that orders would be fulfilled within 60 minutes. Following the…

Woolworths reported today a 118% rise in online food sales as the retailer benefited from a pandemic-led digital boom in South Africa. “Online sales grew by 117.9% over the current year, contributing 2.3% to our South African Food sales,” the retailer informed investors today. “This was further supported by the expanded Click-and-Collect offering and the roll out of our on-demand delivery service, Woolies Dash.” The Woolworths Food business grew both market share and volumes during the period despite the high base set in the prior year driven by stockpiling ahead of the first lockdown. Sales for the current year grew…

Revix, a FinTech investment platform, is exploring ways to enable South Africans to invest in popular technology such as artificial intelligence (AI), BioTech, and 5G. The company, led and founded by Sean Sanders, aims to be the first provider in South Africa to launch various themes one can invest in. “South Africans haven’t been able to invest in some of the exciting industries like biotech, AI, and 5G technologies,” Sanders told TechFinancials in an interview today. “We want to be the first player in South Africa to essentially allow people to invest in these areas and enable them to do…

MTN has retained its position as the fastest mobile operator in South Africa, according to new research from credible network speed-testing services. The second-biggest mobile phone operator is ahead of rival Vodacom in terms of the speed available on their respective networks. The reports from Ookla reveals MTN was the fastest mobile operator among top providers in South Africa in Q2 2021 with a Speed Score of 60.44 on modern chipsets. The operator that is led by Godfrey Motsa also came up tops in the highest Consistency Score. Ookla said that in measuring the consistency of each operator’s performance, we found that MTN had the highest Consistency Score in South Africa…

Revix, a FinTech investment platform with offices in Cape Town and London, plans to launch its mobile application in two months. The startup uses some of the R58.5 million it raised from an off-shore capital funding to build its app. “We are launching our mobile app in two months, which is quite exciting,” Sean Sanders, the founder and CEO of Revix, told TechFinancials in an interview. The launch of the mobile app comes at a time when the company’s platform is gaining traction. Sanders said the platform has more than 22 000 customers and is growing fast. Revix was founded…

S outh Africa’s FinTech investment platform Revix aims to expand its operations into Europe and the Middle East. The platform with offices in Cape Town and London is also not discounting setting up operations into the rest of Africa, especially in key markets of Nigeria, Kenya, and Egypt. “We would love to grow more into Africa,” Sean Sanders, the founder, and CEO of Revix, told TechFinancials in an interview. “The big conundrum we face in Africa is the regulation side of things.” Sanders said Africa was very slow to adopt cryptocurrencies regulations and introduce new innovative regulations. “As a…

South African-founded Revix is bringing simplicity, trust, and excellent customer service to the crypto investment space. The FinTech investment platform with offices in Cape Town and London enables South Africans to invest in a bundle of the top cryptocurrencies, Bitcoin, Ethereum, Gold, and more. Revix was founded in 2018 on the principle that everyone should invest their own money and become their wealth manager. The company’s customer growth has mirrored the exponential rise in the cryptocurrency market, which is valued at over $2 trillion or R29 trillion – making the digital asset class more valuable than Apple. Sean Sanders, the founder,…

Swiss Investment Company Crypto Valley Venture Capital will use its new Cape Town office to look for early-stage startups in Africa. More and more blockchain applications are being implemented across the African continent. According to the 2020 Global Crypto Adoption Index, South Africa, Kenya and Nigeria have the highest rates of crypto and blockchain adoption worldwide. It was highlighted that there is a very high understanding of the potential of this technology in South Africa in particular. Crypto Valley Venture Capital’s goal in Africa, together with partners from the Swiss State Secretariat for Economic Affairs (SECO), the Federal Department of…

In the new 2022 AMG SL Roadster, Mercedes-Benz has designed the touchscreen to be adjusted electrically into a more vertical position. The German carmaker said in a statement that the touchscreen’s portrait format offers clear advantages, especially for navigation, as well as more space ergonomically. The first 300 SL Roadster is one of the most famous automobile icons. It’s minimalist and high-quality interior inspired the designers to create the interior for the new Mercedes-AMG SL. For the new edition of the icon, they created a mix of analogue geometry and digital world – called “hyperanalogue”. A good example of this…