Author: Gugu Lourie

South African Airways (SAA) is putting someone else in charge in a bid to turnaround the ailing national carrier. The South African National Treasury said on Thursday that former Chief Officer for Vodacom Business Vuyani Jarana will be taking the reins as CEO at SAA. He will commence his duties after Vodacom has officially released him. He is responsible for Vodacom Enterprise Business National Treasury believes that Jarana is a right person to turn around the ailing national carrier. It said Jarana has, among others, transformed and positioned Vodacom Business as a growth engine of Vodacom, growing its contribution to…

Rob Shuter has been CEO of MTN for close to five months and is already stirring things up at one of the emerging markets’ biggest mobile phone operator by subscribers with a call to step up the telco’s plans to win more mobile data and digital services customers. “In fact, if you look at this big growth engines of data and digital services, I think MTN already made a good start,” declared Shuter during the interim results presentation at the company’s headquarters in Fairlands. In the six months to end-June, MTN recorded a 9.1% rise in data users putting its…

MTN, Africa and the Middle East biggest mobile phone operator, swung back into profit for the six months to end-June, as it signs up more data and mobile money service customers. In a competitive Africa and Middle East market where regulatory uncertainty increases every day, MTN has reported a 217 cents headline earnings per share (HEPS) versus a 271 cents headline loss in the same period last year, hit by the Nigerian regulatory fine of 474 cents. HEPS is the main profit gauge in South Africa. The group also added 2.7 million active mobile money customers in the period, pushing…

Are you looking for the best on-demand cleaning services? The On-Demand Economy is defined as the economic activity created by digital marketplaces that fulfil consumer demand via immediate access to and convenient provisioning of goods and services. The on-demand cleaning services are one of the fastest growing industries in the country. There are more than 900 000 domestic workers in South Africa, so it is one of the biggest sources of employment in the country. There is a great opportunity for many people find employment and be uplifted by on-demand cleaning platform. Here we offer an overview of some of…

Cassper Nyovest, Family Tree CEO, delivers his brand new music video for his 2017 Single ‘DESTINY’, off his 2017 studio album titled “Thuto”. The DESTINY single music video is caught up in the world of virtual technology. Watch the Video Below: Twitter fans of the super star are loving the video and have created a #DestinyVideo hashtag. By the time of publication, the video was approaching 40 000 views on YouTube. Here is Twitter reaction below: I think this guy nailed it. #DestinyVideo 🔥😢 He Got to explain the depth of @CassperNyovest Visuals on Destiny 😎😎 @TeamNyovest4 pic.twitter.com/ZgbTedx4Ox — #SameStageAsCassper (@RealSuffo)…

South Africa’s Pick n Pay initiated a voluntary severance package (VSP) in April to remove 10% of roles and functions in its business because of improvements in technology. The retailer said on Monday in its trading update published on the JSE that the VSP is now complete and the company has removed close to 10% of roles and functions. “The Voluntary Severance Programme is one of several steps we have taken to make our business more competitive in what is a tough trading environment. For reasons of timing, it will have a material impact on our first half result,” said…

Don’t be left in the dark with what’s disrupting the financial services industry in South Africa. The FinTech (Financial Technology) sector is experiencing explosive growth in the country. It is revolutionising the financial services landscape and it has created a new marketplace for innovation. It is revolutionising the financial services landscape and it has created a new marketplace for innovation. It helps the unbanked to have access to digital financial services. South African FinTech firms are expanding into the rest of the African continent as it offers growth opportunities. Here are the top 10 South African FinTech companies, in no…

South African government has taken an initiative to amend the National Land Transport Act in an effort to accommodate e-hailing services which include Uber, Zebra and Taxify. “As we speak there is an amendment bill in parliament which is being assessed by the portfolio committee on transport,” Transport Minister Joe Maswanganyi said. Addressing a media briefing on Thursday on the outcome of the meeting between the Department of Transport, the Meter Taxi Associations and the E-Hailing Operators, the Minister said public hearings on amending the act are expected to start soon. “We cannot predetermine the outcome of the amendment bill…

African Rainbow Capital (ARC), an investment firm founded by business mogul Patrice Motsepe, has acquired 20% stake of wireless broadband operator Rain, previously known as Wireless Business Solutions. “We are delighted to partner with ARC and look forward to the strategic value they bring to the team”, Paul Harris, Rain Chairman, said in a statement on Friday. “In addition, they enhance our already significant BEE (black economic empowerment) ownership credentials”. ARC is a fully black-owned and controlled investment company with stakes in various financial services businesses. To date, Rain has rolled out over 1 000 sites and 1 500 base stations…

A universe of linked devices, services and people is the key to a new era of competitiveness. Imagine a universe of intelligent products, processes and services that communicate with each other and with people over the internet. From smartphones and smart meters to medical devices and sensors, connected devices collect data that creates efficiencies and reduces waste for consumers and companies alike. The Internet of Things (IoT)will transform companies and countries, opening a new era of economic growth and competitiveness, according to the global consulting firm Accenture. Researcher IDC predicts that the IoT market will reach $7 billion in 2020…

MTN retain its position as South Africa’s most valuable brand in 2017, valued at R40.8 billion ahead of its rival Vodacom, which came in second and is valued at R25.3 billion and Standard Bank in the third position. Brand Finance has published a list of the top 50 most valuable brands in the country for 2017. The project is a joint effort between Brand South Africa, Brand Finance, and Brand Africa. However, according to the report, even the top brands have seen a decrease in value. Even though MTN was again number one, the telecoms giant has seen over R13-billion…

There is a consensus that Information and Communication Technologies (ICTs) hold great promise for development by connecting people to more accurate and up-to-date sources of information and knowledge. But in Africa ICTs have been inequitably distributed and as a result, several people are unable to enjoy the benefits of the digital economy. However, open access fibre infrastructure deployment has the potential to bridge the digital divide. The use of open access fibre infrastructure is more vital in South Africa, where the digital divide remains a stark reality, despite more than half of all adults in the country now having Internet…

South Africa’s Telkom seems to be on everyone’s lips these days. However, for the first time in many years, the conversation is positive. The stock has risen 264% in past year, giving the company a R34 billion market value. Its main shareholder, the South African Government, might sell part or all of its 39.3% shareholding in the Telco that generated R3.9 billion in profit in the 2017 financial year. The charts below show how Telkom shares have performed in recent years The Telco rewarded shareholders with an annual dividend of 422 cents per share in 2017. At 31 March 2017,…

Telkom, South Africa’s largest fixed-line telephone group, is moving ahead with the creation of a new entity to complement its new business structure. In April 2017, Telkom formed a wholly owned subsidiary, Gyro, to manage its masts and towers, property development and property management services. However, the Telco didn’t disclose how will this company be built. The wait is over, the company led by Sipho Maseko revealed in its latest annual report plans to beef up Gyro. According to the report, Telkom and Gyro have entered into a sale of business for shares transaction in terms of which Telkom is…

Isaac Mophatlane, the CEO of BCX who left the technology company in May 2017, received R11.7 million in total remuneration, according to Telkom’s latest annual report. As part of the package, Mophatlane’s remuneration was R5.8 million and received R5.3 million in incentive bonus plus R520 000 in fringe and other benefits. According to the Telkom report, he was not granted any long-term incentives such as shares in the telco. The departure of Mophatlane was condemned by South Africa’s Black Business Council (BBC). At the time, in a statement, BBC said it “believes (Mophatlane) was forced out”. Mophatlane and his late…

Telkom boss Sipho Maseko was paid R25.9 million in the 2017 financial year as South Africa’s largest fixed-line telephone group reported a 3.9 billion in profit versus R2.3 billion in the same period last year. As part of his total remuneration, Maseko’s guaranteed package was R7.4 million and was also rewarded with R8.8 million in short-term incentives and also gained R9.6 million in long term incentives or vested shares). While Deon Fredericks, Telkom’s chief financial officer, was paid R13.5 million in total remuneration, which consists of a R5.3 million guaranteed package and R4.3 million in short-term incentives plus R3.8 million…

South Africa’s political uncertainty is slowing down mergers & acquisitions activity in the rest of the continent after inbound deal volumes in the first quarter of 2017 dropped 45%. This is no surprise because almost half the continent’s M&A activity flows through South Africa. South Africa has entered recession for the first time in eight years, piling pressure on a government facing corruption allegations and credit downgrades. For more read: South Africa slips into recession, heaping pressure on Zuma Political instability, high unemployment and credit ratings downgrades have dented business and consumer confidence in South Africa. “Further, almost half the…

The internet economy will reach $4.2 trillion in the G20 countries, including South Africa as a member state. If it were a national economy, the internet economy would rank in the world’s top five, behind only the US, China, Japan, and India, and ahead of Germany, according to The Connected Word: The Internet Economy in the G-20 Report, published recently. Despite internet economy getting bigger, the economic impact of internet economy is not experienced by all South Africans. But Reshaad Sha, chief strategy officer and executive director at Dark Fibre Africa (DFA), says the internet access is becoming synonymous with…

The battle for control of the bank accounts of African consumers through mobile money – essentially the use of mobile phones to access financial services – is about to get competitive. The mobile money industry has now reached a major milestone: more than half a billion mobile money accounts were registered as of the end of 2016, with more than 170 million active accounts around the globe, according to GSMA. The association said more than 40% of the adult population in Kenya, Tanzania, Zimbabwe, Ghana, Uganda, Gabon, Paraguay, and Namibia are using the mobile money on an active basis (90-day).…

OLX – the world’s leading classifieds platform focused on emerging markets, both mobile and online – has reached more than 330 million active users worldwide, compared to 240 million in 2015, Naspers’ latest integrated report shows. The classified company has garnered more than 60 million monthly new net listings on its platform. Furthermore, OLX has recorded 75 million users that make use of its mobile apps monthly on average in 40 countries. Co-founded in Brazil in 2006 by Fabrice Grinda and Alec Oxenford, OLX became part of the Naspers – Africa’s largest tech and media firm Naspers – family in…

By Staff Writer Following the launch of the new Golf TSI and Golf GTI facelift in May, Volkswagen has introduced two more performance models in the Golf range namely the Golf R and Golf GTD. With over 350 000 Golf’s sold in South Africa since its launch four decades ago, the updated version of the seventh generation Golf is once again redefining its market segment by bringing ‘big car’ technology to the compact family car class. The Golf R’s popularity in South Africa continues to strengthen and together with the GTI makeup nearly 60% of Golf sales in South Africa.…

For years now South Africa’s mobile phone operators have been accused of milking customers with higher data prices while banking exorbitant profits. The data prices have come under sharp scrutiny from consumers leading to  #DataMustFall on social media and consumers calling for the boycott of mobile phone operators not dropping their prices. In a surprise move, Vodacom on Thursday promised its more than 39 million customers lower data prices. Vodacom, South Africa’s biggest mobile phone operator, announced on Thursday that its effective price for mobile data dropped 18.9% in the first quarter to end-June 2017. Shameel Joosub, Vodacom Group boss,…

Vodacom, a South African-based mobile phone operator, reported a 3.9% revenue growth to R20.7 billion in the first quarter to end-June 2017, buoyed by sales of smart data-enabled devices on its network in its home market. Led by Vodacom South Africa, the home market of the Vodafone-owned company, to a 7.8% rise in revenue brought by a 17% jump in equipment revenue, showing the successful delivery of the telco’s strategy of driving the uptake of data-enabled devices. The company, which is in a process of buying a 35% stake in Kenya’s Safaricom for R35 billion, said the sale of smartphones…

By Staff Writer Telkom’s Openserve on Wednesday announced a reduction in IP Connect (IPC) pricing and speed as well as price changes to its Openserve Fibre Broadband (OFB) access portfolio. The new pricing will be effective from 1 August 2017. “Openserve has been working to improve the country’s broadband eco-system, with the objective of continuously reaching more South African’s in more places with our broadband access.,” Alphonzo Samuels, Openserve’s Chief Executive Officer, says. In May Openserve announced price cuts, which took effect in June. “We are cognisant of the positive effect that accessible broadband services can have on the economy of…

PayFast  – with more than 80 000 registered merchants – is celebrating its 10th birthday amidst a flurry of FinTech players and crypto currencies such as Bitcoin set to challenge its business. The company was launched by Jonathan Smit in 2007 in South Africa. This South Africa’s Biggest Online Payment Gateways was set up make online transactions simple, secure and accessible to all South African sellers and buyers. Even though in 2007 online retailing in South Africa was still in its infancy, PayFast would revolutionize the local e-commerce landscape, starting with the launch of their proprietary product: Instant EFT. Instant…