Author: Gugu Lourie

Praveen Maharaj on Wednesday dismissed reports linking him to death threats made in a WhatsApp Group against MDPS (Mobile Diesel Power Systems). Maharaj, who is a regional manager of Mobax for the Eastern Region off KwaZulu-Natal, said through his lawyers in an email to TechFinancials that he vehemently denies ever having made any of the published statements. Earlier this month, TechFinancials issued a report detailing death threats against MDPS in a WhatsApp Group. The correspondence was shared by a concerned WhatsApp group member to the owners of MDPS, who later shared it with Vodacom KZN and the Parliament Portfolio Committee…

Cell C, which is 45% owned by JSE-listed Blue Label Telecoms, appears to be sinking deeper into trouble. The struggling mobile operator has defaulted on the payment of interest on a $184 million (R2.7 billion) loan, which was due in December 2019, along with interest and capital repayments related to bilateral loan facilities with Nedbank, China Development Bank, the Development Bank of Southern Africa and the Industrial and Commercial Bank of China. Blue Label shares were hard hit by the news, sending its shares 12.58% lower at R2.78 by 02:11 pm on Tuesday in Johannesburg bourse. The company and Net…

We live in a digital world. Digital technologies are advancing at a rapid pace, connecting people around the world and creating new and exciting opportunities. More than any time in human history, people have greater access to knowledge, services and resources as a result of technological advancements. The impact of automation, artificial intelligence, and the Internet of Things (IoT) is felt almost everywhere, in all countries, industries, and everyday life. “However, while the impact of digitization is widespread, the benefits it yields are distributed unevenly,” says Tae Yoo, Cisco’s senior VP of Corporate Affairs. “It is important to understand a…

MDPS (Mobile Diesel Power Systems) is out of business because a report was tampered with which exonerated the KwaZulu Natal-based small business, the chairperson of the Parliament Portfolio Committee on Small Business Development Ruth Bhengu, said in a voice clip. The company is involved in a fierce battle with mobile phone giant Vodacom after settling out of court with Sweden’s telecoms giant Ericsson. The central claim is that Vodacom suspended its services after false claims related to buying diesel for running the mobile phone operators’ generators for its mobile phone towers in KwaZulu Natal. MDPS has never made any admissions…

Mini to launch Mini sharing in Sandton. Mini Sharing allows Mini owners to make their vehicles available to friends, family or colleagues via app. It’s no secret that Mini offers drivers an unrivalled exhilarating go-kart feel, transforming even the most mundane journey into something much more fun. The car-sharing scheme is being tested for local conditions ahead of its launch in the third quarter of 2020 as a pilot programme in the key urban area Sandton, in Johannesburg. Initially, Mini Sharing will be available to a closed group of users, although plans are afoot to expand the offering to other…

Strategic South African towns, which include Bethal, Jozini, Makhado, Welkom, etc, may receive priority support from the South African government. The support to a group of 61 towns may be in a form of state funding. The South African government revealed the plan this week in a new draft National Spatial Development Framework (NSDF). The plan is open for public comment until 20 March. The NSDF is described as the first of its kind and according to the government it seeks to make a bold and decisive contribution to bringing about the peaceful, prosperous and truly transformed South Africa, as…

Blue Label Telecoms expects its earnings for the six months ended 30 November 2019 to increase by at least 20%. The company informed investors on the JSE on Thursday that this translates to basic, headline and core headline earnings per share improving by at least 2.52 cents, 3.00 cents and 2.28 cents. The company, which owns 54% of struggling mobile phone operator Cell C, attributed the expected improved earnings to Cell C’s writedown. Blue Label Telecoms and Net 1 have written down to zero the value of their stake of the embattled mobile network, Cell C, which last year reported…

Africa’s most valuable company said in a statement on Wednesday that it intends to repatriate the proceeds to South Africa to buy back its own shares.

Skynamo (formerly Honeybee CRM) – a  Stellenbosch founded software firm – has secured R434 million ($30 million) from software investor, Five Elms Capital. Skynamo will use the investment to accelerate the adoption of its field sales mobile app and cloud-based management platform, while scaling up operations to improve service to its rapidly growing customer base in the US, UK Apostille and Southern Africa. The software company serves its customers from its South African and London offices and has chosen Atlanta as its US headquarters. Skynamo integrates with ERP and accounting software such as Sage, Acumatica, SAP, Xero and Quickbooks to provide…

by Prabashni Naidoo Autonomous, or self-driving cars will make driving safer, smarter and more efficient. Equipped with internet connections, often wireless local area networks, enables self-driving cars to speak to each other and the environment around them. One feature allows the cars to keep their distance and synchronise braking to avoid accidents. Autonomous cars will include features such as lane assist, collision avoidance and automatic calls to emergency services to create a safer driving experience.  Some automotive brands are taking automation a step further, innovating to enable vehicles to communicate with nearby infrastructure and even pedestrians, adding a new dimension…

MTN Cameroon CEO, Hendrik Kasteel, will be leaving MTN at the end of March, due to personal reasons.

Eskom, the state-owned power utility which supplies the country with 95% of the electricity is in crisis and unable to keep the lights on. Electricity is central to the broader development agenda. Electricity is also essential for basic things like charging one’s mobile phone or powering a household water pump and heater. For more read: What lies behind Africa’s lack of access and unreliable power supplies MTN, the country’s second-biggest mobile phone operator, is continuously seeking opportunities to extract energy efficiencies where possible and to maintain investment in renewable sources of energy. This strategy is to help MTN not to be 100%…

Toyota is exploring a new flight path for mobility through a new collaboration with Joby Aviation (Joby), an aerospace company that is developing and commercializing all-electric air taxis. The California-based aerospace company that has been working on electric aircraft for over a decade. The collaboration reflects Toyota’s recognition of the long-term potential of the urban air mobility. Toyota was part of a previous Joby funding round that closed in 2018, helping the secretive startup raise $100 million. As the lead investor in Joby’s $590 million Series C financing, Toyota is continuing to leverage emerging technologies to provide “Mobility for All”,…

Tech giant Naspers boss CEO Bob van Dijk, who is also a CEO of Prosus, has sold shares in in the company worth close to R1 billion. The company announced on Wednesday on the JSE stock news that the shares were awarded by the company through its share incentive scheme. “Bob van Dijk exercised share appreciation rights in the Naspers Global Ecommerce Share Appreciation Rights plan (vesting on dates as per above) and received 414 932 Naspers N ordinary shares in settlement of the gain. He then sold 414 932 Naspers N ordinary shares,” the company disclosed. The tech firms,…

Estonia based ride-hailing app Bolt plans to expand to 40 South African locations during 2020. The ride hailing company, formerly known as Taxify, said on Thursday it also plans to increase its staff complement in support of the service’s expansion strategy. The company, which currently employs 150 people in South Africa, said this would be made possible by new funding. The tech and transport company has signed a  €50 million (R801 million) venture debt facility with the European Investment Bank (EIB). The capital will be used to improve and expand the platform’s ride-hailing technology as well as personalised mobility services like…

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…

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…

The founders of MDPS (Mobile Diesel Power Systems) have received death threats from a ‘Vodacom manager’, who was based in KwaZululu-Natal (KZN), a source from parliament disclosed. MDPS, which was founded by Peet and Heidi-Anne Thuynsma, is suing Vodacom for close to R100 million in damages. They claim their services were suspended overnight by Vodacom leaving them with bad debts. The couple’s central argument is that Vodacom suspended their services after false claims related to buying diesel for running the mobile phone operators’ generators for its mobile phone towers in KZN. MDPS has never made any admissions to the fraud…

As an e-mobility pioneer, BMW has already delivered half a million electrified vehicles to customers worldwide. For more read: BMW Sold Half A Million Electric Cars Worlwide The German carmaker announced on Tuesday that a total of 145,815 electrified BMW and MINI vehicles were sold worldwide in 2019 – an increase of 2.2% over the previous year. The BMW i brand continued its positive sales trend last year with the BMW i3 and the BMW i8, which both saw a 12.1% increase to 42,073 units. This makes BMW i3 and the BMW i8, the top-selling electric cars in the BMW…

In South Africa, Vodacom continuously experiences an inconsistent supply of electricity due to load-shedding negatively impacting operational costs as a result of increased diesel consumption and new batteries. The South African Government has also recently introduced a carbon tax that will further increase the operating costs of running Vodacom’s network sites. In 2019, Vodacom said it consumed 474 GWh of electricity, predominantly from grid power and diesel and petrol. The company added in its recently published Sustainability Report that its carbon footprint was 640 926 tonnes of CO2 e (2% increase from 2018), predominantly as a result of growth 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…

“Just Eat is not an acquisition we wanted to make at any cost,” argues Bob van Dijk, CEO of Prosus, after the tech giant walked away from the bidding war that started last year against rival Takeaway. Just Eat investors controlling 80.4% of its shares have finally backed Takeaway’s all-stock bid, which values the company at about £6.1-billion (R114-billion). The Amsterdam-based Takeaway has won the bidding war. Takeaway has placed a 5.9 billion pound ($7.7 billion) share offer that will create one of the world’s largest meal delivery companies. However, van Dijk said the tech giant believe that its final…

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…