Author: Gugu Lourie
By Ujuh MTN Zakhele received R836 million in dividend income from MTN Group for the 2014 financial year but the Black Economic Empowerment (BEE) scheme will not be paying dividend to its investors. This is carried in the 2014 MTN Zakhele financial results which were published yesterday. The dividend income was much improved when compared to the R658 million received in 2013. MTN Zakhele directors said the dividend income was first used to pay for operational costs as well as taxes. Thereafter, the dividend income was used to pay down MTN Zakhele’s debt. MTN Zakhele chairperson Thulani Gcabashe said “The…
By Ujuh MTN Zakhele announced that it has applied for a further extension for the exemption of its share trading platform as it works towards a JSE listing. This suggests that MTN Zakhele will miss the June 30 default deadline to list on the JSE. MTN Zakhele, like other companies operating own shares over-the-counter (OTC) trading platforms, have been ordered by the Financial Services Board (FSB) to meet new standards. MTN Zakhele opted to abandon its OTC and to list on the JSE. All along MTN Zakhele trading platform has been operating on temporary exemptions from the FSB new rules.…
MTN remains firm on its offer, pledges to fully restore operations and reaffirms its zero tolerance stance on violence and intimidation By Staff writer As the industrial action by service employees enters its tenth day, MTN has reaffirmed that it will not budge on the offer it has tabled to striking employees and has once again pledged to bring the disrupted operations into full operational mode and safeguard the lives of non-striking employees and protect its infrastructure and facilities. The strike has had minimal impact on MTN’s core operations which are running optimally. Reports that the strike has culminated…
By Jennifer Shukusky In the world of online dating, nothing is as it seems. But that doesn’t stop many of us from leaping to the wrong conclusions about people. A recent paper presented at the Annual Conference of the International Communication Association and reported on in the press suggested that when evaluating photographs from online dating profiles, men and women judge enhanced and un-enhanced photos somewhat differently. Enhanced photos, those in which a person has used makeup, hair styling, filters, or post-editing, were rated by both men and women as more being attractive. But while women also rated men in these…
By Staff Writer Large crowds at sports matches can mean frustratingly slow uploads of status updates and selfies, and make it all-but-impossible to view the video instant replays that you get when watching the big game at home. Vodacom’s latest full-stadium Wi-Fi solution is an African first and heralds the introduction of the smart stadium where connectivity issues will be a thing of the past and fans get the best of both worlds. Rugby fans visiting Loftus Versfeld will be able to connect to Vodacom’s new high-density Wi-Fi network, with faster data connectivity than ever before. The solution is the…
Net1, which is involved in a legal brawl with SASSA and AllPay regarding a R10 billion government tender, is indirectly expanding into the lucrative Chinese market through the acquisition of 44% minority stake in Transact24 (T24), a specialist Hong Kong-based payment services company. By Gugu Lourie The company didn’t disclose the value of the transaction. However, the company that owns Zazoo that is in a process of internationalising its mobile virtual card didn’t disclose the value of the transaction. T24 is a Hong Kong-based Payment Services Company, established in 2006, with offices and satellite entities in Australia, Singapore, China, Mauritius, South…
By Emmanuel Tsekleves Now that the sun is shining and the temperature is rising, it’s officially sickie season: go to work, or get struck down with “flu”, a “24-hour virus”, or that faithful stand-by, the dodgy prawn takeaway. Figures show that over a third of employees in the UK admit to pulling a sickie at some point or other. But things may be changing soon – wearable tech such as the Apple Watch, Microsoft Band, Fitbit, or Jawbone Up may become mainstream within a few years, bringing health monitoring capabilities that reveal how your body is performing. It’s not inconceivable that…
By Gerhard Botha Telematics and big data have generated much interest globally within the insurance industry. Yet, there is still reluctance amongst some SA insurers to adopt these practices. While local firms have the capability and know-how to implement, the low margins seem to compel them to remain conservative. The prevalence of fraud in the industry has also necessitated many insurance firms to focus on security and other preventative measures, instead of investing in the likes of telematics and big data. Limited budgets mean that these technologies are simply not on the priority list. Scepticism around the benefits that these…
Adam Wakefield Johannesburg – International companies that supplied content to South Africa via online streaming or subscription services should pay their fair share of tax, PwC said on Tuesday. Such multinational companies did not have to comply with the same tax rules as their local counterparts, and in some instances were not taxed, head of indirect tax for PwC Africa Charles de Wet said in a statement. “We are living in an era of unprecedented digital change. South Africa’s tax laws are outdated and have not kept pace with the growth of the digital economy,” he said. “Digital giants should…
By Staff Writer Chief Executive Officer of MTN SA, Ahmad Farroukh, has apologised to customers for service disruptions resulting from the industrial action by employees affiliated to the Communications Workers Union (CWU). The strike, which commenced last Wednesday, has led to the closure of the 808 Call Centre and disrupted other services centres including retail stores and the high value repair centre. In a bid to end the labour dispute, MTN has made great strides to address the employees’ bonus pay concerns with a comprehensive bonus offer of 8% in 2015, and a guaranteed 12% bonus in 2016. MTN maintains…