Author: Gugu Lourie

Momentum Metropolitan, a JSE-listed insurer, has told customers it was hit by a data breach. The insurer informed investors on Monday morning that a third party ‘unlawfully accessed’ a limited portion of data of a subsidiary of the group. The company said it became aware of a data breach on its network on Thursday 13 August 2020 and immediately activated its IT security incident plan, which included the implementation of additional systems monitoring and the reinforcement of its IT security. “The group’s IT teams have been working non-stop to ensure that service to clients remains unaffected,” said Momentum Metropolitan. “In…

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…

When I woke up today, I found myself reflecting on the works of Niq Mhlongo, one of the most high-spirited and irreverent new voices of South Africa’s post-apartheid literary scene. I decided to reread Mhlongo’s short story collection “Soweto, Under the Apricot Tree”.  In this collection, the author describes his hometown as a place that always seems to hold surprises for both the characters and the reader. When I reached page 10 of the book, a thought crossed my mind that I should visit Soweto, South Africa’s biggest township. It is so big, it’s practically a city in its own right.…

Some parts of Soweto may be experiencing slower connectivity as a result of Vodacom-based stations being increasingly targeted for theft and vandalism. According to Vodacom, its base stations in Soweto are being targeted by organised crime syndicates, with over one hundred cases of vandalism since the start of 2020. In most cases, the theft has resulted in significant site downtime, leaving entire communities in Soweto with no connectivity and has caused millions of rands worth of damage, the company said in a statement. Vodacom warned organised crime syndicates behind the spate of theft and destruction of base stations that their…

Distell, the R17.3 billion South African alcohol empire behind Savanna cider, Amarula, Oudemeester and Bernini, has welcomed the announcement of lifting the alcohol ban. President Cyril Ramaphosa’s addressed the nation on Saturday night announcing that the ban on alcohol and cigarettes will be lifted next week Monday. Alcohol sales will be permitted between 9am and 5pm at liquor stores from Monday to Thursday, while on-site consumption of alcohol at restaurants and pubs will be permitted until 10pm. In a tweet, Distell said it welcomed the opening of the alcohol trade, and the economic relief the government’s decision will provide to…

President Cyril Ramaphosa addressing South Africans on developments in our country’s risk-adjusted strategy to manage the spread of COVID-19, said the further easing of restrictions presents the country with the greatest opportunity since the start of the pandemic to breathe life into our struggling economy. Today, Ramaphosa announced that the country will be moved to level 2 lockdown. A hard lockdown was imposed at the end of March to curb the spread of COVID-19 while giving the government time to prepare the healthcare system for the expected spike in virus infections. Today marks 142 days since the lockdown began. The coronavirus…

South Africa will be moved to a level 2 lockdown next week, President Cyril Ramaphosa announced on Saturday evening. “As South Africa moves to lockdown Level 2 on August 18, prohibitions on the sale of alcohol and tobacco products will be lifted. Gyms and fitness centres will be permitted to reopen. Appropriate restrictions and safety precautions will apply to protect public health,” said Ramaphosa. Ramaphosa was addressing South Africans on developments in our country’s risk-adjusted strategy to manage the spread of COVID-19. A hard lockdown was imposed at the end of March to curb the spread of COVID-19 while giving the…

South Africa to lift alcohol and cigarette ban as the country is moved to level 2 lockdown. A hard lockdown was imposed at the end of March to curb the spread of COVID-19 while giving the government time to prepare the healthcare system for the expected spike in virus infections. Level 3 of the lockdown began on 1 June and enabled the sale of alcohol. The South African government implemented an alcohol sales ban early on when COVID-19 hit the country, as part of its public health response to contain the spread of the virus. The ban was intended to reduce the…

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…

Mobile operators refrain from investing in the deployment of new rural network sites. During the festive season, when rural folks who work in cities return home, networks get overloaded or operators end up developing short-term solutions. This is understandable. Operators try to maximise their revenues by deploying every possible new network site that can deliver incremental revenues. However, Vodacom seems to be changing its strategy or seeing more value in deploying new network sites in rural areas of South Africa. The Vodafone-owned company is planning to deploy 20 new base stations in urban areas and 18 new base stations in…

Black investors in Phuthuma Nathi, the broad-based black economic empowerment arm of pay-TV operator MultiChoice SA, are in line to share more than R1 billion in dividends. Phuthuma Nathi shareholders own 25% of MultiChoice SA through the Phuthuma Nathi entity. In 2019, shareholders voted to combine Phuthuma Nathi and Phuthuma Nathi 2 into one scheme. The combination of these entities resulted in one listed scheme with a single Phuthuma Nathi share price. The transaction did not have any meaningful impact on the number of shares held or their attributable value. Phuthuma Nathi will receive R1.5 billion of the R6 billion dividend declared by…

All Welkom Yizani, the black economic empowerment shares of media group Media 24, will receive a dividend of 34 cents a share for the 2020 financial year. Welkom Yizani holds 15% stake in Media 24, a print media domination operation in the Naspers stable. Welkom Yizani investors will receive a dividend of R6.2 million in 2020 resulting in a dividend of 42.5 cents a share before tax, said Media 24 in its annual report. Welkom Yizani, Media24’s broad-based black economic empowerment scheme, began trading its shares on the Equity Express Securities Exchange (EESE) in November 2018. In 2016, Naspers, a…

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…

Teddy Daka, the boss of JSE-listed Etion, is looking to take the company internationally as he aims to cut business risks associated with slower growth in South Africa. The diversified digital technology company is seeking expansion opportunities in Latin America and South-East Asia. It is already testing its Internet of Things (IoT) solutions in those markets. Etion is using lean startups to test its IoT solutions in Latin America and South-East Asia. The aim is to support the sustainable long-term growth of its fast-growing business unit, Etion Create and Etion Secure (LAWTrust). “There’s an opportunity, nonetheless, by internationalising and we…

Shoprite has fired the starting gun on its expansion in South Africa, joining the fast-growing digital banking market where new players are signing up thousands of customers. Africa’s largest food retailer has launched its new Money Market Account, a free transactional account to give customers more ways to save, send or spend their money. Shoprite operates more than 2,934 outlets in 15 countries across Africa and the Indian Ocean Islands. The retailer is likely to compete with new digital banks such as TymeBank, Discovery Bank and South Africa’s big 5 banks – ABSA, FNB, Standard Bank, Nedbank and Capitec – the moment it…

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…

Media personality, entrepreneur, and philanthropist Bonang Matheba (Queen B to her more than eight million social media fans) has been persistent from a young age. “I was turned down at least 25 times before I got my first big break as a presenter of LIVE on SABC, and each rejection was heart-breaking. Especially when you’re young, you don’t understand why they haven’t picked you for a part, it’s very painful,” she says. “But it has been a great lesson for me that you must try many things, find what you love, and even then you probably won’t get it on…

I have been using the Crosscall Core-T4 for a few weeks. In that time, I realised that this impressive tablet is more than just an outdoor mobile office for professionals – its also a mobile entertainment centre. It stands out from its competitors such as CAT S32 and Samsung’s Xatch Pro tablets. Since I am not employed in agriculture, construction, or mining sectors, my review of the Crosscall Core-T4 tablet is limited to what it can do for me as a tech hack and entertainment junkie. Yes, we know the Crosscall Core-T4 is touted as a rugged tablet. During the…

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, Cell C, and Telkom. But can you believe it, according to the Number Portability Company (NPC) the average number of numbers ported every month is 76 058? The low number of customers porting their numbers could indicate that consumers are happy with their network operator – Vodacom, MTN, Cell C, and Telkom. Number Portability is a process that enables end-users to retain their telephone numbers when changing from one network operator to…

MTN South Africa has spent more than R50 billion on upgrading its network infrastructure in the past five years. South Africa’s second-biggest operator has improved its Long Term Evolution (LTE) population coverage to over 96%. It is a standard for wireless data transmission that allows for faster downloads of your favourite music, websites, and videos. It is definitely much faster than the previous technology, 3G. LTE – sometimes referred to as 4G LTE – also offers less buffering and better streaming. MTN has rolled out low band LTE, which uses spectrum bands below 1GHz. This improves coverage and significantly improves the…

South Africa’s Telkom has published its 2020 integrated annual report, which shows the group’s ownership by geographical region. As of 31 March 2020, Telkom is 50.5% owned by institutional investors, 40.5% held by the Government of South Africa, 6.4% is owned by non-institutional investors, and the remaining 2.6% is held as treasury share. Broken down into geographical regions, Telkom’s ownership is as follows: South Africa – 44% United States of America – 37% United Kingdom – 9% Europe – 6% Rest of the world – 4% Despite South Africans owning 44% of the telco, foreigners seem to have an appetite for…

South Africa is finally seeing a glimmer of light at the end of the COVID-19 tunnel and President Cyril Ramaphosa could announce eased lockdown restrictions later this week. Health Minister Dr Zweli Mkhize announced on Saturday that there are now a total of 553,188 cases of coronavirus in South Africa, reflecting an increase of 7,712 cases from the 545,476 infections reported previously. The data shows that there are 301 new COVID-19 related deaths, taking the total to 10,210 casualties. A steady decline in the infection rate and other critical indicators have raised hopes that the worst of the pandemic’s first…

Telkom boss Sipho Maseko’s total remuneration was reduced by R2 million in 2020 financial year to R21.8 million versus R23.2 million in 2019, according to the company’s latest annual report. Maseko took home guaranteed pay of R8.8 million and R10.5 million in vested shares. He also received R2.4 million in dividends on shares that weren’t vested. Telkom’s highest-paid executive was former chief financial officer Deon Fredericks, who retired as chief investment officer. He was paid a total of R26 million, including R16 million in vested shared and 5.7 million in severance pay. Fredericks was followed closely by Alphonzo Samuels, who…

As part of its plan to exit the Middle East, MTN is in talks to sell MTN Syria to TeleInvest, the operator disclosed on Thursday. “As part of this process, we are in advanced discussions to sell our 75% stake in MTN Syria to TeleInvest, which is the minority shareholder in MTN Syria with a 25% holding,” MTN said. “As part of the review of our portfolio, we believe the group is best served to focus on its pan-African strategy and to simplify its portfolio by exiting the Middle East region in an orderly manner over the medium term.” TeleInvest…