Author: Gugu Lourie

Capitec Bank, South Africa’s largest digital bank, wants to democratise stock trading through creating new modern investing platforms. The bank is targeting its 4 million app customers by making investing in the stock market easier. Capitec announced on Friday that it has added the EasyEquities investing platform to its new banking app, allowing its clients to invest in shares on stock markets in South Africa and the US. “The partnership brings our clients greater accessibility to a variety of investment options in an affordable and simplified way,” says Francois Viviers, executive of marketing and communications at Capitec. “We currently…

The Information Communications and Technology Union (ICTU) has suspended strike action by its members who work for Cell C. The nationwide strike at the embattled cellphone operator, sparked by the imminent retrenchment of more than 1,600 workers, began on Monday. ICTU President Moeketsi Lepheane told union members late on Wednesday that the strike had been suspended. “This was after receiving legal advice from our lawyers,” said Lepheane. He said “disciplined and committed” members of the ICTU must stop the strike “until further notice from the union”. Leapheane added: “We hereby urge all members to ensure that they continue to conduct themselves within the confines of the…

Telkom announced on Wednesday that it had approached the Competition Tribunal to declare the suite of spectrum arrangements between Vodacom and Rain as a merger that should have been notifiable under the terms of the Competition Act. “Telkom contends that the merger is notifiable because the multiple agreements between Vodacom and Rain grant Vodacom use and control over the deployment of Rain’s spectrum, including the planning, rollout, maintenance and service of its radio access network,” the company said in a statement. Rain works with Vodacom to share infrastructure, while Vodacom assists it in putting up telecommunications towers and equipment. According…

The Internet Service Providers’ Association of SA (ISPA) says October is the ideal time for parents to turn their attention to making the home a cyber-safe stronghold. This month, countries across the world including South Africa are marking Cybersecurity Awareness Month. The fact that more of us are working from home during the current pandemic is, in fact, an opportunity in that we now have more time to work on making our homes cyber safe for children. That’s according to ISPA chair André van der Walt who says homes can become literal safe havens amidst a sea of current challenges. “Many…

The new Jaguar XE now features updated interior and exterior designs, together with the latest connected technologies. The XE features Jaguar’s latest Pivi Pro infotainment system, accessed through a seamlessly integrated 10-inch central touchscreen, while the 5.5-inch lower touchscreen, also powered by the new Pivi technology, combines two multi-functional LED rotary controllers for intuitive operation of key vehicle functions. To help drivers access vital information quickly, the 12.3-inch HD Interactive Driver Display gets enhanced graphics and a configurable layout which can show full-screen navigation mapping with turn-by-turn instructions, digital dials, media, contact list or infotainment details. Working in conjunction with…

South African casino operators such as Tsogo Sun and Sun International are quietly pushing the government to pass legislation allowing online casinos to operate alongside the already legalized and regulated online sports betting industry. They are hoping that the hard work put into the 2008 National Gambling Amendment Act to formally legalize online casino gambling will finally be completed. Kelvin Jones, senior editor of PlayCasino, explained: “For many years, South Africa’s online gambling industry has been operating in a grey zone.  The hard blow which the industry took during the Covid-19 lockdown had retail casino operators looking anew at alternative…

Cell C on Tuesday suffered another blow when the Labour Court in Johannesburg ruled that its application to interdict members of the Information Communications and Technology Union (ICTU) from striking was not urgent. The nationwide strike by Cell C workers protesting imminent retrenchments started on Monday. ICTU had informed Cell C in advance that its members would be embarking on industrial action from Monday at all Cell C buildings and shops in protest against the retrenchment of more than 1,600 employees. The strike comes after the South African Federation of Trade Unions (Saftu), and African Democratic Change (ADEC) party unsuccessfully intervened in the matter.…

Mercedes-Benz has given its EQC electric vehicle the 4×4² treatment. The EQC 4×4² is an electric car of extremes. Mercedes-Benz wishes to test the limits with this vehicle, and show that e-mobility is not just urban, but also conceivable off-road. “Our aim is to combine modern luxury and sustainability with emotional appeal. The EQC 4×4² shows how enjoyable sustainable mobility can be. This is where electromobility high-tech and an intriguing customer experience are transferred to the mountains, thanks to MBUX and over-the-air updates,” says Markus Schäfer, member of the Board of Management of Daimler AG and Mercedes-Benz AG responsible for…

Liquid Telecom believes there is a massive opportunity to fast-track Africa’s digital economy. The continent’s biggest fibre company wants to enable entrepreneurs to be at the centre of this new revolution. Nic Rudnick, the CEO of Liquid Telecom, said in an interview with TechFinancials on Monday, that the company – which is morphing into a technology company from being a telco – needs to review the way it is structured. Liquid Telecom has been growing rapidly over the last few years fuelled by the demand for infrastructure to support broadband Internet on the African continent. It has built Africa’s biggest high-speed…

The Information Communications and Technology Union (ICTU), which is representing Cell C workers says on Monday it will hand a memorandum detailing disputes it has with the cellphone company to Communications and Digital Technologies Minister Stella Ndabeni-Abrahams. The ICTU’s move to hand the memorandum to the minister coincides with a strike by Cell C workers planned for Monday. In a tongue in cheek notice, the ICTU said: “On Monday 12 October 2020, we will be inviting ourselves to the offices of the ill-disciplined minister of communication .” Ndabeni-Abrahams, whose pay was recently docked for breaching anti-coronavirus rules, did not respond to a letter sent…

Vodacom can keep its operating license in Lesotho after the mobile phone company won a court challenge on Saturday against Lesotho Communications Authority (LCA) from revoking the company’s unified license. The Vodafone-owned company challenged LCA not to revoke the license and enforce the payment of the fine of M134 million. The company said on Saturday that the Lesotho High Court had ordered that the LCA must appear on 23 October to show cause why the interim order should not be made final. “We assure citizens of Lesotho that we remain fully focussed on delivering great value and a superior customer…

Embattled Cell C faces more trouble on Monday when its workers go on strike over imminent retrenchments. The Information Communications and Technology Union (ICTU) announced at the weekend that its members would down tools after the cellphone company insisted the retrenchment process involving thousands of workers could not be reversed. In a letter on Friday, the union said: “ICTU hereby notifies Cell C that its members will be embarking on industrial action from 12 October 2020 at 08:00 at all Cell C buildings and shops in protest against the retrenchments of more than 1,600 employees you are intending to undertake”.…

MTN announced on Friday afternoon the appointment of a new CEO for MTN Liberia Lonestar Cell. Rahul De, the current chief marketing officer of MTN Nigeria, will take the helm at the company. His appointment is effective on November 1, 2020. De replaces Uche Ofodile who departed Lonestar Cell MTN in July to become the CEO of MTN Benin. With 23 years of experience in the telco space, ranging across multiple geographies, Rahul has spent the last two decades in senior leadership roles driving growth and leading business transformation. “I would like to congratulate Rahul on his appointment,” said MTN…

Insiders have revealed that Vodacom South Africa has installed an indoor RF site (Antenna) at the headquarters of cash-strapped Cell C in Sandton. TechFinancials has been told by the insiders, who spoke on condition of anonymity, that both Vodacom and Cell C were busy testing this indoor RF site. The insiders say the installation of the antenna is part of a process to test the site and ensure a seamless move of Cell C’s prepaid subscribers to the Vodacom network. They say once the move is completed cellphones belonging to Cell C customers will reflect Vodacom as their network provider.…

The South African Federation of Trade Unions (Saftu) has joined efforts to save thousands of jobs at Cell C. The Information Communications and Technology Union (ICTU) and African Democratic Change (ADEC) party have been in a public fight with Cell C over its plans to retrench 1,500 workers. Saftu deputy general secretary, Moleko J Phakedi, said in the letter to Cell C: “We herewith wish to propose an urgent meeting with you either on Friday 10th or Monday 12th October at 11:00 at your Woodmead office.” ICTU is an affiliate of Saftu, which is led by union firebrand Zwelinzima Vavi.…

The African Democratic Change (ADEC) party has demanded that Cell C shuts its stores today. The demand follows the breakdown of talks between management at Cell C and representatives of thousands of workers, who are facing retrenchment. Cell C earlier announced plans to retrench 1,500 workers. The embattled cellphone company also said it intends to close down 150 stores. ADEC says it wrote to the CEO of Cell C Douglas Craigie Stevenson and requested a meeting to discuss proposals to save jobs. The political party said it never received any response from the company. Spurned, members of ADEC and the Information Communications and…

Vodacom and Lesotho government are to lock horns over the mobile operator’s operating licence, which has been revoked by small Southern Africa’s landlocked country. The Lesotho Communications Authority (LCA) has revoked the unified license. The authority has imposed a staggering fine of M134 million for Vodacom’s alleged contravention of section 97 of the Companies Act 2011 and certain conditions of its unified license. Vodacom said in a statement that it would lodge an urgent application in the High Court in Lesotho to have it reviewed and set aside the decisions of the Lesotho Communications Authority.  “We have no option but…

Liquid Telecom is embarking on another retrenchment exercise two months after the largest fibre company in Africa announced it was undergoing a “strategic repositioning”. The strategic repositioning has already resulted in the retrenchment of 100 workers in August. Although the fibre company is delivering a good set of financial results, it still plans to retrench more workers. In the year ended 29 February 2020, Liquid Telecom reported revenue growth of 17.5% to $795.7 million (R13.2 billion), while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 15.7%. “The company is of the preliminary view that it is not competitive in…

JSE-listed Blue Label Telecoms is to seek an urgent court interdict to stop members of the Information Communication and Technology Union (ICTU) from protesting outside its headquarters in Sandton. This is according to a notice of motion and founding affidavit seen by TechFinancials.   Since Tuesday this week, the union has been protesting against retrenchments, parallel restructuring, and recapitalisation by Cell C. For more read: UNION THREATENS TOTAL SHUT DOWN OF CELL C OVER PROPOSED JOB CUTS   ICTU is an affiliate of the South African Federation of Trade Unions (SAFTU), which is led by Zwelinzima Vavi.   The union represents about 1,300…

The new BMW 128ti is positioned between the BMW 120i and the range-topping BMW M135i xDrive. With its specially tuned M Sport suspension and Torsen limited-slip differential, the new BMW 128ti sets its sights on the Volkswagen Golf GTI. The BMW 128ti will be made available to the South African market in the first quarter of 2021. The BMW 128ti carries over firmer anti-roll bars and anti-roll bar mounts with high preloads from the BMW M135i xDrive. Stiffer springs and shock absorbers adapted accordingly to provide excellent driving dynamics. In addition, the front-wheel-drive 128ti is around 80 kilograms lighter than the…

The dynamic new Jaguar XF gets a new look with seamlessly integrated, connected and future-proof technologies. The executive saloon has received a refined look on the outside, plus some much-needed updates inside. The exterior features a new front bumper with larger and lower air intakes for increased visual width. This visual width is enhanced by a wider front grille featuring a mesh design detail inspired by Jaguar’s heritage logo. The side fender vents now feature the iconic Leaper emblem, demonstrating the exceptional attention to detail found right across the vehicle. The XF has an all-new interior with a heightened luxury,…

Vivendi SA’s Canal+ buys a stake in pay-TV operator MultiChoice, the company informed investors on Monday. MultiChoice disclosed on the JSE that Canal+ has acquired 6.5% stake in the company. “As a publicly held company, MultiChoice regularly engages with its strategic partners and maintains an open dialogue with the investment community,” MultiChoice said. “The group’s policy is not to comment on its individual shareholders nor on its interactions with them. The company remains committed to acting in the best interests of all shareholders and to create sustainable long-term shareholder value.”  Canal+ Group, the pay-TV subsidiary of France’s Vivendi,  is “evolving from an…

The Information Communication Technology Union (ICTU) has threatened to shut down Cell C after the embattled mobile phone operator failed to reach an agreement with the union. ICTU has filed an urgent application at the Johannesburg Labour Court to stop embattled Cell C from carrying out processes that could lead to the retrenchment of workers. Cell C is facing off with the ICTU at the Commission for Conciliation, Mediation, and Arbitration (CCMA) regarding retrenchments. The ICTU, which is an affiliate of the South African Federation of Trade Unions led by Zwelinzima Vavi, is the sole worker representative at Cell C. The union…

The Information Communication Technology Union (ICTU) has filed an urgent application at the Johannesburg Labour Court to stop embattled Cell C from carrying out processes that could lead to the retrenchment of workers. Cell C is facing off with the ICTU at the Commission for Conciliation, Mediation, and Arbitration (CCMA) regarding retrenchments. The ICTU, which is an affiliate of the South African Federation of Trade Unions led by Zwelinzima Vavi, is the sole worker representative at Cell C. TechFinancials is reliably informed that ICTU filed the papers at the court yesterday. However, sources close to the matter say the urgent application…

The African Democratic Change (ADEC) has told bosses at Cell C to suspend plans to retrench workers and warned the embattled company that it faces a wave of country-wide protests if it goes ahead with job cuts. TechFinancials has it on good authority that the mobile phone operator is planning to retrench 40% of its junior management and semi-skilled staff. At the same time, Cell C is facing off with the Information Communication Technology Union (ICTU) at the Commission for Conciliation, Mediation and Arbitration. The ICTU, which is an affiliate of the South African Federation of Trade Unions led by Zwelinzima Vavi,…