Author: Gugu Lourie

South Africa’s competition watchdog has blocked Naspers deal to acquire WeBuyCars, a dealer in used vehicles in South Africa. The Competition Tribunal announced its decision on Friday issued an order prohibiting the proposed transaction involving MIH eCommerce Holdings (MIH), trading as OLX South Africa (OLX), and WeBuyCars. MIH is ultimately controlled by Naspers, a JSE-listed group. The reasons for the Tribunal’s prohibition will be made available in due course. The Commission – which investigates and assesses large mergers before referring them to the Tribunal for a decision – recommended that the proposed transaction should be prohibited as it is likely…

The WACS (West Africa Cable System) undersea cable, which is critical to South Africa connection with the world, is broken again. TENET, which is the operating partner of the South African national research & education network (SA NREN), said it detected the break by 23:28 last night. We are observing our WACS capacity as down since 23h28 UTC/27th March 2020. A call has been logged with our provider for feedback. Traffic has failed over to SEACOM and EASSy cable systems and there is currently no impact for SA NREN traffic. — SA NREN Operational Updates & Alerts (@RENAlerts) March 28,…

The number of confirmed coronavirus cases has reached 1170, an increase of 270 cases since Thursday, the South African government confirmed. Minister in the presidency, Jackson Mthembu, said on Friday evening that health minister Dr Zweli Mkhize had asked him to relay the figure. Earlier on Friday, it was announced that two people had died as a result of Covid-19, the respiratory illness caused by the coronavirus. However, Mthembu clarified that one of the deaths was confirmed to be linked to Covid-19. The second case, he said, was linked to Covid-19 but had not yet been confirmed. In light of…

Vodacom has appointed businessman Saki Macozoma to the role of chairman of the Vodafone-owned mobile company. Chairman Jabu Moleketi will retire and step down from its board at its next annual general meeting. Macozoma’s appointment is effective from 22 July 2020. He was first appointed to Vodacom’s board in July 2017. He also assumes the role of chairman of the Nomination Committee and will step down from the Audit, Risk & Compliance Committee. “The board expresses its thanks to Jabu for his leadership and valuable contribution to both the board and Vodacom over the past 11 years and wishes him…

South Africa has reported its first deaths resulting from coronavirus, says Minister of Health, Zweli Mkhize. “This morning, we wake South Africans up with sad news that we now have our first deaths resulting from COVID-19,” he said in a statement. “These two deaths occurred in the Western Cape. One at a Private Hospital and the other at a Public Hospital. “We will give more details later on, when we announce the latest confirmed COVID-19 cases, which have increased from yesterday’s number and have tipped the 1000 mark.” All the #21daysLockdownSA drama that unfolded just outside our flat around…

Seedstars, the Swiss-based private group of companies with a mission to impact people’s lives in emerging markets, is happy to announce its Global Seedstars Summit will be held exclusively online, from March 31 to April 3rd, 2020. With a mission to create a positive impact through technology and entrepreneurship, the company has decided to digitally redesign its international Summit, to ensure the safety of its partners and community in the scope of the exceptional COVID-19 sanitation crisis. As Online Seedstars Summit, themed BEYOND, is approaching, we could not be prouder to be part of a community that is eager and…

Resources and Energy Minister Gwede Mantashe says the possibility of load shedding during the 21-day nationwide lockdown is unlikely. “The supply of fuel to the relevant critical and essential services, as well as the supply of coal to Eskom for electricity supply and liquid fuels production, are critical during this period. “Supplying Eskom with coal is a requirement and with the lockdown, demand will be very low so it is unlikely that we will have load shedding,” said the Minister. Mantashe made the remarks, during a joint media briefing with the Ministries of Arts and Culture and Telecommunications, where each…

Transport minister Fikile Mbalula has stated that South Africa’s minibus taxis (as well as Uber and Bolt) and Shoholoza Meyl will be banned from the road during the lockdown. Trains will not be operating, long-distance has been shut down in terms of Shosholoza Meyl, Mbalula told 702. “This affects everybody, that includes Uber, Bolt and e-hailing systems and taxis.” On Monday, President Cyril Ramphosa announced a 21-day lockdown of the country effective from midnight on 26 March. Also read: Coronavirus: How To Make Donations To SA’s COVID-19 Solidarity Fund The South African Government has set up a Solidarity Fund, which…

Netcare, one of South Africa’s largest private hospital groups, announced on Wednesday that visiting hours at hospitals have been suspended, except in specific special circumstances, as a further precaution against the spread of COVID-19. Today, the number of local coronavirus cases have increased to 709. “In light of the severity of the COVID-19 pandemic, we needed to take extraordinary measures to protect all healthcare teams and our patients who cannot be discharged,” says Dr Richard Friedland, Netcare chief executive officer. The following measures will apply: All visiting hours for general wards, ICUs and the high care units will be suspended with…

All South African restaurants, takeaways and food delivery will be closed during South Africa’s 21-day coronavirus lockdown, said Minister of Tourism Mmamoloko Kuyabi-Ngubane. In a letter to the restaurant industry on Tuesday, Kuyabi-Ngubane said: “In compliance with the nation-wide lockdown it should be noted that ALL restaurants, cafes, bars, coffee shops will be required to comply with the nation-wide lockdown for 21 days.” “Such service providers have NOT been included on the list of what has been deemed essential services during the lockdown and will NOT be permitted to operate and will thus need to be closed for the duration,”…

The South African Government has set up a Solidarity Fund, which South African businesses, organisations and individuals, and members of the international community, can contribute to Ameliorate the impact of the coronavirus. “The Fund will focus efforts to combat the spread of the virus, help us to track the spread, care for those who are ill and support those whose lives are disrupted,” said President Cyril Ramaphosa. “The Fund will complement what we are doing in the public sector.” This Fund will be chaired by Ms Gloria Serobe and the deputy Chairperson is Mr Adrian Enthoven. The Fund has a…

As part of a swift and extraordinary action to deal with coronavirus, President Cyril Ramaphosa announced measures to assist businesses that may be in distress and a windfall for some individual taxpayers. “Using the tax system, we will provide a tax subsidy of up to R500 per month for the next four months for those private-sector employees earning below R6,500 under the Employment Tax Incentive,” said Ramaphosa. He added that this will help over 4 million workers. The South African Revenue Service will also work towards accelerating the payment of employment tax incentive reimbursements from twice a year to monthly to…

South Africa’s online florist NetFlorist is venturing into the delivery of fresh fruits and vegetables. The service is available to potential customers around Johannesburg North and Pretoria as people stay at home due to Covid-19 pandemic. As the country’s leading national B2B Fruit and Vegetables wholesaler and distributor, Fruitspot has partnered with NetFlorist to ensure the safe and timeous delivery of fresh produce, South Africa’s online florist said on its website. “When we’re delivering produce to the recipient, we ensure that our fruits and veggies arrive as fresh and as delicious as the day they were picked. To accomplish this, low-tech, inexpensive…

Struggling mobile phone operator Cell C, which destroyed shareholder value for JSE-listed firm Blue Label Telecoms, on Monday reported a R4 billion operating loss for the six months to 31 December 2019. Strangely, Cell C CEO Douglas Craigie Stevenson believes the green shoots of the turnaround strategy, which was implemented from March 2019 onwards, are now visible. The company’s full-year operating loss came in at R3.94 billion versus R7.36 billion loss in 2018. The company attributed the improvement to operational improvements and right-sizing. The group revenue was down to R15.2 billion versus R15.7 billion in 2018. The company also lost 2.9…

In these uncertain times, only one thing is really certain, and that’s that every company and its dog wants to tell you what it’s doing in the wake of the Corona crisis. Yet amidst the benign platitudes, gloomy headlines and pervasive uncertainty, here’s some really, really good news: TymeBank, South Africa’s first digital bank, will honour their commitment to their customers and keep their interest rate unchanged at 10%. Worth noting is that TymeBank has taken this decision before the Reserve Bank makes its announcement later today and likely cuts the benchmark interest rate by a considerable amount. TymeBank’s bold…

South Africa’s communications watchdog on Thursday called on mobile operators to offer free services during the coronavirus situation. The country has recorded the highest number of people in Africa who have tested positive for Covid-19 or coronavirus. “ICASA (The Independent Communications Authority of SA) is requesting all network service providers to heed the call to enable the country to mitigate the spread of COVID-19, by facilitating easy and affordable (and/or free) access to data,” the regulator said in a statement. The regulator added that it was engaging the sector on possible ways of radiofrequency spectrum relief for the duration of…

African Rainbow Capital Financial Services Holdings (ARC FinHoldCo) announced on Thursday that it has invested R300 million South Africa’s first fully digital bank TymeBank. ARC FinHoldCo increased its holding in TymeBank to 100% over the course of the year, new partners were introduced resulting in a sell-down of control to 65.5% at 30 June 2019. The bank, which is backed by billionaire Patrice Motsepe, said it was embarking on a capital raise which will see the ARCH FinHoldCo interest diluted further. TymenBank is adding 3 500 and 4 000 customers per day, with about 40% of bank accounts being active…

South African mobile data network operator rain, which recently launched its intelligent 5G transport network, continues to invest in its 5G network across the country, said investors African Rainbow Capital (ARC). In an investment update published on Thursday, ARC said: “Overall, the growth prospects for Rain remain optimistic.” The company said Rain’s revenue growth has been encouraging and significant progress was being made to further improve on network performance and stability. “Rain is well-positioned to become a major player in the 5G data market,” said ARC. ARC added that during October 2019, Rain launched the country’s first 5G network for…

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…

aYo, a mobile micro-insurance joint venture between MTN and SA’s third-biggest insurer Momentum Metropolitan, seems to be winning the minds, hearts and wallets of existing and new customers. In 2017, Momentum Metropolitan and MTN launched aYo, a micro-insurance joint venture. It began its roll-out in Uganda in January 2017 and has also been deployed in Ghana and Zambia. With insurance penetration low in many countries in the African region, aYo aims to draw on the resources and capabilities that both companies provide to improve this and offer relevant, accessible and easy-to-use insurance solutions to consumers. “Our aYo joint venture recorded…

The hybrid BMW i8 Coupé and the BMW i8 Roadster will make way for a new range of all-electric models. BMW announced on Wednesday that the production of its i8 plug-in hybrid sports car will end next month, nearly six years after it was introduced in a big way to the German automaker’s lineup. This is the final stretch on the way to the “Hall of Fame” of BMW sports cars for the i8. The BMW i8 started its worldwide success story as a unique symbiosis of futuristic design and pioneering technology. The BMW Group’s first plug-in hybrid model paved…

The SA Post Office announced on Wednesday that Coronavirus or COVID-19 delays mail to and from the Far East. he South African Post Office advises its clients that it cannot accept mail destined to the following countries: China Malaysia Indonesia Taiwan South Korea Sri Lanka Vietnam Bangladesh and Kuala Lumpur The Post Office said mail to Hong Kong is not affected. The airline carriers currently used by the SA Post Office for transport to and from these countries are unable to uplift mail due to challenges caused by the Coronavirus pandemic, it added. “As a result, mail from these counties…

MTN, Africa and the Middle East biggest mobile phone operator delivered a strong set of results for the year to end-December 2019, as it signs up more data and mobile money service customers plus mobile telephony subscribers. “We added 18 million customers to reach a total of 251 million and increased our data users by 17 million to 95 million and our fintech customers by 7 million to 35 million,” said Rob Shuter, the CEO of MTN Group. “This growth is central to our belief that everyone deserves the benefits of a modern connected life. We also saw improvements in…

The latest data released today by MTN shows that the number of active Mobile Money (MoMo) users increased by 7,5 million to a total of 35 million, generating a monthly ARPU of $1,15 in the year to end-December 2019. “The value of MoMo transactions in the year was $96,1 billion ()R1.54 trillion), with 9 200 transactions processed per minute (up from 6 800 per minute in 2018),” the company said. The launch of MoMo in South Africa and Afghanistan brings to 16 the number of markets in which we are currently live. “In November we launched MTN Homeland, a mobile remittance…

MTN Group on Wednesday disclosed that its instant messaging platform, Ayoba has reached 2 million monthly active users. To ensure Africa doesn’t miss out on the instant messaging revolution, MTN launched its own instant messaging platform, Ayoba, in March 2019. “Ayoba is now live in 12 markets and has registered two million monthly active users,” said  MTN’s CEO, Rob Shuter. Ayoba was integrated into 12 MTN markets and is also available across multiple markets on the Google Play Store and via the Ayoba website as an OTT offering. MusicTime! is now live in six MTN markets. “We plan to continue…