Author: Gugu Lourie

Liquid Telecom, a pan-African telecommunications group, ensured continuity of service to its customers during the recent outages of the SEA-ME-WE 5 and EIG submarine cables. The company operates an intelligent subsea cable system that automatically reroutes network traffic during such outages, thus ensuring service reliability on our resilient architecture. This differentiates Liquid Telecom from other wholesalers that do not have access to similar infrastructure. “With over 57,700 km of submarine cable fibre linking Africa to Europe, the Middle East and Asia, Liquid Telecom’s subsea network is extensive and offers low latency to global destinations. Keeping our customers connected is and has…

Alaris Holdings, South Africa’s antenna specialist, announced on Monday it has acquired UK-based Linwave Technologies. In January, Alaris informed investors that it is in talks to buy a UK firm. The JSE AltX firm, which listed since July 2008, said it has long been on the lookout for opportunities to widen its already substantial footprint. Alaris Holdings Group CEO, Juergen Dresel, has indicated previously that Alaris set out to complement the Group with strong RF/microwave electronics design and RF assembly capabilities. Linwave Technologies fits this strategic requirement like a glove. A share purchase agreement was signed on Friday 26 February, with…

Klarna has become the highest-valued private FinTech in Europe and the second-highest worldwide. The Swedish buy now, pay later behemoth and upstart bank announced on Monday secured $1 billion USD in an equity funding round to accelerate international expansion and further capture global retail growth. The new funding values Klarna at $31 billion at a post-money valuation. The funding was confirmed today by the company in a statement after it was leaked to the media. Klarna enables consumers to shop, pay and bank in a smarter way, designed to fit the lives they lead, not the requirements of the traditional…

MTN Group announced on Monday that its Nigerian operation has attracted 12.2 million new customers in 2020. The telco said it added 12.2 million new subscribers in the year to end-December to reach 76.5 million customers. The company also said active data customers rose by 7.4 million to 32.6 million, supported by growth in gross connections and expanding its 4G network. Data traffic rose by 126.5% and average usage by 64%. The company said it added 8.2 million new smartphones to its network, bringing its smartphone penetration to 45.9% versus 41.9% in 2019. “Our performance demonstrates the strong operational and…

Telkom today unveiled the March Big Deal, which is data-packed and here to save you big bucks. The SmartBroadBand 20GB Wireless LTE SIM-Only March big deal offer with 80GB of data is available for R199 a month. The Telkom March 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 Out of bundle rate for data: 30c per MB R99 Once-off activation fee Why the March Big Deal? Enjoy the convenience of connecting instantly, anywhere and at any time No landline…

Convergence Partners, a leading tech investor in Africa, will buy 100% of Ctrack’s operations in Africa and the Middle East from Nasdaq-listed Inseego Corp for an undisclosed amount. The deal is funded through Convergence Partners Digital Infrastructure Fund (CPDIF), which is its maiden transaction. Ctrack is a telematics software-as-a-service digital infrastructure platform providing fleet management, insurance and weather telematics solutions and asset tracking solutions to its subscribers in Africa and the Middle East. The business’ IoT and data analytics capabilities are a vital component of an emerging sector in Africa. They are a good fit with CPDIF’s strategy of identifying…

In a new report titled the State of Electric Vehicles in South Africa, out of more than 10-million cars on South African roads, only about 1,100 are electric.

The primary mandate of MTC around the management of the broadband network asset is to connect the CoJ and enable smart City, thereby bridging the digital divide.

“We are in discussions in establishing a manufacturing and assembling plant in Africa for Africa.”

South Africa’s Imperial Logistics announced it has acquired an e-commerce solutions company Parcel Ninja for an undisclosed amount. The JSE-listed firm said on Tuesday Parcel Ninja acquisition will provide specialised warehousing and distribution management in e-commerce, direct to consumers and to informal markets. Parcelninja is a specialised warehousing and distribution management business that offers a full suite of warehousing and fulfilment services to South African online shops. Started in 2013 by Justin Drennan, Ryan Drennan, and Terence Murphy, we launched our first commercial services in October 2014. Its three founders are experienced entrepreneurs, starting WantItAll, helping grow Superbalist, which was sold to…

Patrice Motsepe’s TymeBank has attracted foreign investment of more than R1.6 billion from investors in the UK and Philippines. The digital bank said the new investors are UK-based Apis Growth Fund II, a private equity fund managed by Apis Partners, and the JG Summit, which is one of the largest and renowned conglomerates in the Philippines and owned by the Gokongwei family. The company said both these investors are experienced in financial services in emerging markets. African Rainbow Capital (ARC) has made an additional investment to ensure it maintains its position as anchor shareholder in Tyme. Following the completion of…

The U.S. Federal Communications Commission (FCC) on Monday announced a proposal to use $3.2 billion in emergency funds to subsidize broadband service for millions of households. The aim is to assist families struggling to pay for internet service during the pandemic. If approved, the Emergency Broadband Benefit Program could provide $50 a month to millions of households, and more in tribal lands. The FCC is an independent agency of the United States government that regulates communications by radio, television, wire, satellite, and cable across the U.S. The acting chairwoman of FCC, Jessica Rosenworcel, announced that under the proposal, qualifying households…

Netflix today launched a new feature called “Downloads For You”, which will automatically download recommended shows or movies to your mobile device based on your tastes. The feature is being rolled out globally starting today and soon will start testing on iOS. Three years ago, Netflix introduced Smart Downloads so you can find the next episode of your favourite show – even when you’re on the go. Now, we want to make discovering your next new favourite series or film quick and easy whether you’re connected or not, said Patrick Flemming, Netflix’s director of product innovation. “Today, we’re launching Downloads For You,…

The EoT team at Bosch Research will deploy a node on the network and assist in testing the first phase of Fetch.ai’s next-generation blockchain with a view to running nodes and applications on the v2.0 main-net after it is launched in March 2021. 

Software development to be faster and easier throughout the lifetime of the vehicle.

Allegations have surfaced suggesting that a select group of current and former Cell C executives may have secretly apportioned to themselves parts of the struggling business. Insiders, who are making the allegations, however, said Cell C CEO Douglas Craigie Stevenson and chief financial officer Zafar Mohammed were not part of the select group. The insiders point to what they said was the “opaque” new shareholding for Cell C as described in filings at ICASA. “Some former and current executives ‘hijacked’ a part of the business for themselves,” claimed an insider who spoke on condition of anonymity. “Some former and…

Pharmacy group Dis-Chem has reported that online sales grew by 218.7% for the 22-week period from 1 September 2020 to 2 February 2021 compared to the previous corresponding period in 2019. “Our online sales continue to be positively impacted as consumers prefer staying safe and shopping from the comfort of their homes,” the listed pharmaceutical chain said on Wednesday. The company also said the change in consumer shopping behaviour due to COVID-19 continued to impact our sales mix and in turn, our margins. Despite the strong top-line growth, margins are still lagging pre-COVID-19 levels. Revenue grew by 12.1% to R11.6…

Etion announced on Tuesday its chief executive of 16 days, Elvin de Kock, is stepping down due to health issues. The JSE-listed tech group said in a statement that de Kock’s resignation is effective from 31 May 2021. It added that de Kock will, however, remain on the board of directors of Etion as a non-executive director. Etion also informed investors that Richard Willis, a non-executive director, has been appointed as the acting GCEO. Willis appointment is effective from 1 June 2021. The company said Willis will oversee the completion of the disposal process. The company announced at the end…

Phuthuma Nathi, a MultiChoice BBBEE share scheme, is looking for 22 000 shareholders who owned shares and did not receive dividends between 2006 and 2020. There is R207 million in unclaimed dividends, waiting for their rightful owners. TechFinancials has received a request from shareholders who want to know how to check if they qualify to claim these unpaid dividends. We have uplifted information from Phuthuma Nathi’s website about how to check if you qualify to claim unpaid dividends. Shareholders who owned Phuthuma Nathi shares and have not received dividends between 2006 and 2020, can claim their dividends by: Contacting the Phuthuma Nathi call centre…

The Independent Communications Authority of South Africa (ICASA) has appointed Judge Thokozile Masipa as chairperson of the new five-member Complaints and Compliance Committee (CCC). Masipa, who was a presiding judge in the 2014 trial of Oscar Pistorius for the killing of Reeva Steenkamp, will serve as the chairperson of the CCC. She previously served as a member of the Broadcasting Monitoring and Complaints Committee, – the predecessor of CCC. The CCC is an independent tribunal established in terms of section 17A of the Independent Communications Authority of South Africa Act, 2000 (Act No13 of 2000) to, among others, investigate and…

Serame Taukobong, the brains behind Telkom Mobile’s revival, is carving up a spot as a future boss for the telco. Sipho Maseko, the current CEO of Telkom, is not likely to go anywhere soon. But one day he will need to pass on the telco’s reins. Growth engine for Telkom Taukobong runs Telkom Consumer Business, an internet service, and converged communications services provider offering fixed and mobile broadband solutions. This business unit is the growth engine for Telkom. Under Taukobong’s leadership, Telkom Consumer Business, which also include Telkom Mobile, is moving towards being more reliable. When Telkom Mobile boss Attila Vitai…

Drip, one of proudly South African popular sneaker brand, has opened its sixth store in Thavhani Mall, Thohoyandou. Drip Footwear was founded two years ago by a local entrepreneur Lekau Sehoane. The company operates mostly online and recently opened its stores in Polokwane at Mall of the North, Pretoria CBD 012 Central, Joburg Newtown Junction, Mall of Tembisa and Masingita Mall in Giyani. “I have been getting a lot of support from Thohoyandou, and that is why I knew I had to bring it closer to the people. I am very excited about the growth of this brand, it’s just…

Investment firm Finsbury is taking MyBucks, a FinTech company owned by JSE-listed Afristrat, to court in the UK. The battle is related to the failed acquisition of MyBucks Zambia by Finsbury from the Frankfurt-listed FinTech and banking group. Finsbury wanted to buy 45% equity in MyBucks Zambia under a Put and Call Option Agreement between MyBucks and Finsbury. A put and call option agreement is defined as when you buy an options contract; it grants you the right, but not the obligation to buy or sell an underlying asset at a set price on or before a specific date. A call option gives…

MyBucks will delist from the Frankfurt Stock Exchange as it sells some of its assets across the African markets. JSE-listed investment firm Afristrat, MyBucks’s controlling shareholder, shareholders voted to delist from the Frankfurt Stock Exchange at a general meeting on 12 February 2021. “As a result, the company will commence the process of delisting from the Frankfurt Stock Exchange,” read the statement. “Therefore, the Board will submit a notice of termination to Deutsche Börse AG (“DBAG”) today.” Afristrat further said: “The company further stated: It must be assumed that the Frankfurt Stock Exchange will cease trading the shares immediately following…

Former executives at South Africa’s VSS Financial Services (VSS), a wholly-owned subsidiary of Frankfurt-listed Fintech and African banking group MyBucks, are in hot water after a probe fingered them into financial irregularities MyBucks instituted a forensic investigation into dealings of VSS, which is now in the process of liquidation. The company said it has recently received the forensic report from Kahamelo Forensic Services. “The findings justify, in the opinion of the Board, that MyBucks should, together with other affected parties and stakeholders, consolidate their resources to bring justice to bear and to seek rectification from those individuals that the report…