Author: Gugu Lourie
If you’ve ever wondered how to make your money work harder for you, you’re in the right place. Compound interest has the magical ability to turn modest savings into a substantial nest egg over time. This article unveils the best tips to leverage this financial phenomenon effectively. Whether you’re just starting your financial journey or looking to optimize your existing investments, these proven strategies will pave the way for a prosperous future. Plan, save, and invest are the best way to reach your financial goals. Use these tips to get started: Take Advantage of Retirement Accounts If you want to…
Vodacom announced on Friday that its revenue climbed 36.9% to R35.7 billion for the qaurter to end-June 2023, lifted by Vodafone Egypt and financial services. The Vodafone-owned company completed the acqusition of Vodafone Egypt acquisition in December 2022, presents a unique opportunity to advance the company’s multiproduct strategy, called the System of Advantage. This strategy aims to deliver diversified, differentiated offerings to our customers, further strengthening and growing its relationships with them. Group service revenue grew 43.8% in the quarter to almost R29 billion, positively impacted by the acquisition of Vodafone Egypt and rand depreciation of almost 20% against our…
Vodacom today announced that its super-app VodaPay has reached 6.7 million downloads in the quarter ended 30 June 2023. “Our super-app, VodaPay, reached 6.7 million downloads and launched free deposits and added ‘send money’ and cash-out services in the quarter,” Vodacom informed investors on Friday. The super-app VodaPay still has 3.3 million registered users. VodaPay provides a digital shopping, lifestyle and financial platform for consumers and businesses. During the quarter, Vodacom launched free deposits and added ‘send money’ and cash-out services, allowing customers to deposit and withdraw funds from their VodaPay digital wallets. Deposits and withdrawals can be made at…
Eskom today announced the departure of its former chief operating officer Jan Oberholzer from the energy group. Eskom said in a brief statement that it parted ways with Oberholzer by mutual agreement. His last day with Eskom will be 31 July 2023. Oberholzer was on a fixed-term contract to provide support to the Koeberg Nuclear Power Station long-term operation (LTO) and Kusile Power Station projects, said Eskom. “Eskom expresses gratitude to Mr Jan Oberholzer for his dedicated service, expertise and valuable contributions during his tenure. We wish him well in his future endeavours.”
Former Telkom CEO Sipho Maseko is threatening to walk away from buying a controlling stake of the partially state-owned telco. Sunday Times’ Business Times reported today that Maseko is now looking for opportunities elsewhere and will not revised the offer submitted by his consortium to buy Telkom. The consortium comprises Maseko’s Afrifund, Axian Telecom and the Government Employees Pension Fund, managed by the Public Investment Corporation (PIC). “We are definitely walking away. The board has made it clear that they are not willing to engage with us at all,” Maseko told Sunday Times Business Times. He added that the consortium…
“It is our hope that this Huawei Innovation Centre will be a springboard for the launch of new local ICT enterprises that create jobs,” said President Cyril Ramaphosa. Speaking at the opening of the Huawei Innovation Centre at Woodmead in Huawei’s Office Park, Ramaphosa added that government hoped the centre would be a springboard for new business processes that would grow SA ‘s economy and support national development goals. The centre brings together Huawei’s various business units in a hub for collaboration with local partners, app developers and ICT-focused SMEs. He said the opening of the centre is a sign…
William Mzimba, the CEO of Vodacom Business, a subsidiary of JSE-listed Vodacom Group, has resigned. Sources told TechFinancials that Mzimba is leaving Vodacom Business at the end of September 2023. Mzimba joined Vodacom five years ago as chief officer of Vodacom Business to replace Vuyani Jarana. Internally at Vodacom, no one gave him a chance to succeed. They whispered that this man from Accenture couldn’t repeat the great feat achieved by Jarana at Vodacom. In the past five years, Vodacom, Mzimba has delivered enormous value at the Vodafone-owned mobile phone company. He ensured that Vodacom Business continued to fire on…
JSE-listed Telkom Group on Friday announced it has rejected an offer of a constortium led by its former CEO Sipho Maseko. Shareholders are referred to the Telkom announcement published on SENS on Monday, 12 June 2023 relating to an unsolicited non-binding indicative letter from a consortium consisting of Afrifund Investments Proprietary Limited, Axian Telecom and the Government Employees Pension Fund, managed by the Public Investment Corporation (collectively, the Consortium) for the acquisition of a controlling stake in Telkom (the Indicative Proposal). “The Telkom board of directors (the Board) having considered the Indicative Proposal, has decided not to continue discussions with…
The Gauteng government has announced that it wants to work with technology companies and innovators to help fight rising crime. Gauteng recorded 1 556 murders between January and March 2023. Speaking at the Huawei Eco-Connect Sub-Saharan Africa 2023 conference in Sandton on Thursday, Premier Panyaza Lesufi warned: “If we can’t fight crime, it will be the end of us all in this province.” He added: “We must ensure that we use the technology that is available and ensure that we push back crime in our province.” Premier Lesufi implored technology companies to join the Gauteng government in…
The South African government plans to connect 1.7 million households to high-speed internet. The project will be realised through the development of infrastructure that will be used by partner internet service providers (ISPs) to provide fee-based internet services. The Minister of Communications and Digital Technologies, Mondli Gungubele, said the construction of infrastructure for access has not yet started. In May 2023, the Treasury confirmed access to the allocated funds and the process to finally disburse the funds has started, he said. Gungubele was responding to parliamentary questions from Inkatha Freedom Party MP Zandile Majozi. Majozi wanted to know what progress…