Author: Gugu Lourie

MTN GlobalConnect, a digital wholesale and infrastructure services company and an operating company in the MTN Group, is making inroads into the rest of the African markets as it clinches new fixed wholesale deals. MTN informed investors on Thursday that MTN GlobalConnect has recorded a healthy commercial and financial performance, signing new fixed wholesale deals to the value of $27.3 million or R400 million in total contract value terms during the first quarter. The company added that the unit also delivered growth in external revenue of 40.0% year-on-year to $45.5 million or R668 million (total revenue of $248 million or…

MTN SA has committed R10 million to support qualifying spaza shops in KwaZulu Natal and Gauteng that were decimated in the unrest. In the days following the unrest. MTN SA CEO Godfrey Motsa made a public plea for big businesses to work closely with small and micro-businesses to help re-establish and support those entities that were amongst the hardest hit during the rioting and looting. MTN has completed its review of the spaza shops with which it already has existing relationships, that were impacted by the unrest. Next week, MTN will open applications for other spaza shops that may be…

MTN South Africa has cut data prices by as much as 60% with the price of the 1GB of ad hoc data reduced to R85. “This further data price reduction as well as our efforts to supporting small businesses, are some of the most impactful ways we believe we can reignite the economy. Our efforts in this regard will be further enabled by the allocation of much-needed spectrum,” says Godfrey Motsa, MTN South Africa’s CEO. “A successful and sustainable South Africa needs large and small businesses prospering side by side and immediate release of the high demand spectrum that continuously…

Nedbank’s super app Avo, launched during the national lockdown, continues to scale significantly and targets business-to-business opportunities. Since its launch in app stores on 19 June 2020, Avo has signed up more than 265 000 customers, along with over 17 500 businesses registering and offering their products and services on this e-commerce platform. Nedbank informed investors on Wednesday that product orders continue to grow exponentially, up 45% in the second quarter of 2021 compared to the fourth quarter of 2020, which is seasonally a substantial period for retail sales. “Avo has been the first super app to market, and we intend…

Sbu Shabalala stepped down Tuesday as chief executive of Adapt IT, a JSE-listed software group helped found in 1998 and is now valued at R934 million. On May 10, Shabalala was granted a three-month leave of absence to attend to personal matters after he was accused of masterminding an attack on an Ethekwini municipality manager. Tiffany Dunsdon, chief commercial officer, who is interim CEO while Shabalala is on leave, will continue in her role, Adapt IT announced on Tuesday. “Shabalala has since taken the decision to terminate his employment with Adapt IT and resign as director of Adapt IT and…

South African mobile and fixed-line telephone customers seem to be generally doing well, thanks to the number portability regulation giving them more options: to choose when to stay or dump either Vodacom, MTN, Telkom Mobile and Cell C. By the end of July, the average mobile ports per month were more than 73,624, according to recent stats published by the Number Portability Company (NPC). The NPC was founded in 2006 to protect the customer by enabling him or her to vote with their feet when they are not happy with the Telco services, seems concerned with service woes. From November 2006 to the end…

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…