Author: Gugu Lourie
Patrice Motsepe’s TymeBank has attracted foreign investment of more than R1.6 billion from investors in the UK and Philippines. The digital bank said the new investors are UK-based Apis Growth Fund II, a private equity fund managed by Apis Partners, and the JG Summit, which is one of the largest and renowned conglomerates in the Philippines and owned by the Gokongwei family. The company said both these investors are experienced in financial services in emerging markets. African Rainbow Capital (ARC) has made an additional investment to ensure it maintains its position as anchor shareholder in Tyme. Following the completion of…
The U.S. Federal Communications Commission (FCC) on Monday announced a proposal to use $3.2 billion in emergency funds to subsidize broadband service for millions of households. The aim is to assist families struggling to pay for internet service during the pandemic. If approved, the Emergency Broadband Benefit Program could provide $50 a month to millions of households, and more in tribal lands. The FCC is an independent agency of the United States government that regulates communications by radio, television, wire, satellite, and cable across the U.S. The acting chairwoman of FCC, Jessica Rosenworcel, announced that under the proposal, qualifying households…
Netflix today launched a new feature called “Downloads For You”, which will automatically download recommended shows or movies to your mobile device based on your tastes. The feature is being rolled out globally starting today and soon will start testing on iOS. Three years ago, Netflix introduced Smart Downloads so you can find the next episode of your favourite show – even when you’re on the go. Now, we want to make discovering your next new favourite series or film quick and easy whether you’re connected or not, said Patrick Flemming, Netflix’s director of product innovation. “Today, we’re launching Downloads For You,…
The EoT team at Bosch Research will deploy a node on the network and assist in testing the first phase of Fetch.ai’s next-generation blockchain with a view to running nodes and applications on the v2.0 main-net after it is launched in March 2021.
Software development to be faster and easier throughout the lifetime of the vehicle.
Allegations have surfaced suggesting that a select group of current and former Cell C executives may have secretly apportioned to themselves parts of the struggling business. Insiders, who are making the allegations, however, said Cell C CEO Douglas Craigie Stevenson and chief financial officer Zafar Mohammed were not part of the select group. The insiders point to what they said was the “opaque” new shareholding for Cell C as described in filings at ICASA. “Some former and current executives ‘hijacked’ a part of the business for themselves,” claimed an insider who spoke on condition of anonymity. “Some former and…
Pharmacy group Dis-Chem has reported that online sales grew by 218.7% for the 22-week period from 1 September 2020 to 2 February 2021 compared to the previous corresponding period in 2019. “Our online sales continue to be positively impacted as consumers prefer staying safe and shopping from the comfort of their homes,” the listed pharmaceutical chain said on Wednesday. The company also said the change in consumer shopping behaviour due to COVID-19 continued to impact our sales mix and in turn, our margins. Despite the strong top-line growth, margins are still lagging pre-COVID-19 levels. Revenue grew by 12.1% to R11.6…
Etion announced on Tuesday its chief executive of 16 days, Elvin de Kock, is stepping down due to health issues. The JSE-listed tech group said in a statement that de Kock’s resignation is effective from 31 May 2021. It added that de Kock will, however, remain on the board of directors of Etion as a non-executive director. Etion also informed investors that Richard Willis, a non-executive director, has been appointed as the acting GCEO. Willis appointment is effective from 1 June 2021. The company said Willis will oversee the completion of the disposal process. The company announced at the end…
Phuthuma Nathi, a MultiChoice BBBEE share scheme, is looking for 22 000 shareholders who owned shares and did not receive dividends between 2006 and 2020. There is R207 million in unclaimed dividends, waiting for their rightful owners. TechFinancials has received a request from shareholders who want to know how to check if they qualify to claim these unpaid dividends. We have uplifted information from Phuthuma Nathi’s website about how to check if you qualify to claim unpaid dividends. Shareholders who owned Phuthuma Nathi shares and have not received dividends between 2006 and 2020, can claim their dividends by: Contacting the Phuthuma Nathi call centre…
The Independent Communications Authority of South Africa (ICASA) has appointed Judge Thokozile Masipa as chairperson of the new five-member Complaints and Compliance Committee (CCC). Masipa, who was a presiding judge in the 2014 trial of Oscar Pistorius for the killing of Reeva Steenkamp, will serve as the chairperson of the CCC. She previously served as a member of the Broadcasting Monitoring and Complaints Committee, – the predecessor of CCC. The CCC is an independent tribunal established in terms of section 17A of the Independent Communications Authority of South Africa Act, 2000 (Act No13 of 2000) to, among others, investigate and…