Author: Staff Writer

Business rescue in South Africa is experiencing a crisis of trust, mainly due to the low success rate experienced by lenders as well as the unsuitability of business rescue practitioners (BRPs). This is one of the key findings of the 2022 Deloitte Africa Restructuring Survey, which was launched in Johannesburg today. The survey was conducted between January and February this year among 111 C-suite executives and restructuring professionals including lawyers, lenders, advisors and business rescue practitioners in South Africa, Kenya and Nigeria. The survey also predicts an increase in distressed Mergers & Acquisitions (M&A), or companies selling to get out…

JSE-listed EOH announced that it has concluded an agreement to divest of its Network Solutions (EOH-NS) and Hymax businesses to SEACOM, which owns Africa’s largest network of ICT infrastructure, for a consideration of R144.9 million. The proceeds from the sale, net of costs, will primarily be applied to reduce EOH debt further. EOH-NS and Hymax have vast experience in the delivery of wholesale and managed service solutions for the networking and voice segments of the telecommunications industry. EOH-NS and Hymax are also strategic and essential partners to a variety of enterprise clients covering multiple verticals across the private and public…

Vodacom introduces Linea, a watch which gives customers peace of mind knowing they are in a position to reach out for assistance from a trusted contact when they need help the most. Launched under the “Connected by Vodacom” range, Linea features a panic button which sends an SMS to five pre-determined trusted contacts with a 30-minute real-time monitoring functionality. When required, the owner of the watch can simply push the panic button on the device, and their pre-determined trusted contacts will immediately receive an alert via SMS, with a date, a time and a live GPS location link to a…

Standard Bank has reached the one million customer mark on its low-cost banking solution MyMo, which is designed for people who don’t like spending their hard-earned cash on fees but still want all the features of a transactional bank account. This milestone comes off the back of the recent announcement that Standard Bank now has over 10 million customers in South Africa due to significant growth in 2021, this is attributed to its customer acquisition growth and investments towards digitising the bank. As consumers, we are naturally inclined to always look out for value for money, but especially when cash…

Volvo Car South Africa has confirmed the new pure electric XC40 P6 Recharge will soon join its increasingly electrified range of vehicles. While the XC40 P8 Recharge AWD already available in South Africa employs twin electric motors (one on each axle), the P6 features a single unit – permanently sealed and maintenance free – mounted at the front. With peak outputs of 170 kW and 330 Nm, the new front-wheel-drive variant offers lively performance, completing the obligatory 0-100 km/h sprint in just 7.4 seconds. Thanks to a low-mounted, high-voltage 69 kWh lithium-ion battery, the P6 Recharge is able to travel…

ADP, a global technology company providing human capital management (HCM) solutions, has acquired Sage’s South Africa payroll outsourcing business. This acquisition marks a strong partnership between the two businesses in South Africa over the past 12 years. By integrating Sage South Africa’s local payroll expertise with ADP’s global reach and comprehensive human capital management (HCM) solutions, ADP can provide clients with an enhanced experience to help to grow and scale their business. Founded in 1981 and headquartered in Newcastle-upon-Tyne, Sage provides leading technology to small and medium businesses with the visibility, flexibility, and efficiency to manage their finances, operations and…

US-based data centre giant Equinix today announced it has completed its deal to acquire West African data centre and connectivity solutions provider MainOne for an enterprise value of $320 million, marking the beginning of its expansion into the African continent. The completion of this acquisition augments Equinix’s long-term strategy to become a leading African carrier-neutral digital infrastructure company by being able to bring a full range of transformative technologies and connectivity to Nigeria, Ghana and Cote d’Ivoire. This acquisition will extend Platform Equinix into West Africa, giving organizations based inside and outside of Africa access to global and regional markets.…

IQ Logistica today announces the launch of Farmers Friend, a new companion Farming Operations Mobile Application. The app is a new tool for farmers to use in-field to manage their full farming operations straight from their phones or tablets. It offers a new way for farmers to easily view, manage and access all of their operational data to mitigate risks, successfully implement lucrative stakeholder relationships and optimize their yield opportunities. The app comes as a complementary tool against their successful web application which allows farmers to store, manage and access all of their agricultural operational data in order to amplify…

MTN SA is ramping up investment to modernise existing and deploy new network infrastructure across Limpopo and Mpumalanga. The R820 million investment will go toward MTN’s “Modernisation of Network South Africa project” (MONZA) as well as expanded rural reach, 5G expansion and restoration of vandalised network infrastructure. “Our aim is to significantly enhance access and open the door to new digital opportunities for many more people across the province. Our investment is specifically targeted at increasing network coverage, improving throughputs, and connecting the previously unconnected,” says Kagiso Moncho, General Manager: Northern Region from MTN South Africa. The MONZA rollout in…

SmartWage, an innovative HR and communications technology startup, has raised $2 million or R29 million. The oversubscribed seed funding round was raised to support SmartWage’s vision of transforming Africa’s workforce through digital inclusion, particularly for frontline employees like cashiers, restaurant staff, security personnel, and healthcare workers.  SmartWage is giving enterprises a simple yet effective way to digitise their most time-consuming HR processes, helping them save time and money in order to focus on what matters most – people. The product gives employees without email the ability to receive company-wide communication, access their payslips, request leave and get access to financial…