Author: Staff Writer

JSE-listed Blue Label Telecoms reported tentative signs of recovery after writing down of Cell C, which was a drag on its financials. As the carrying value of Blue Label’s investment in Cell C was fully impaired for the year ended May 2019, the financial results of Cell C did not have any impact on Blue Label’s earnings for the current year, the company informed investors. The comparative year reflected the negative contributions to core headline earnings by Cell C of R2.6 billion. Blue Label Telecoms disclosed that revenue fell 10% to R21.1 billion in the year to end-May 2020. Headline…

The National Student Financial Aid Scheme (NSFAS) terminated a tender to supply students with laptops after corruption allegations. NSFAS Administrator, Dr Randall Carolissen, says a new tender for the supply and delivery of laptops will be submitted to Government Printing Works on Friday for publication on 4 September 2020. NSFAS was informed on 4 June 2020 by Higher Education, Science and Innovation Minister, Blade Nzimande, that the scheme would manage the procurement process of laptops for NSFAS funded students, currently registered at universities and Technical and Vocational Education and Training (TVET) colleges for the 2020 academic year. “NSFAS then prepared…

Today sees the launch of a new mini-documentary and case study series about very young African entrepreneurs designed to enable high-school and university educators to engage students meaningfully about entrepreneurship as a career path. #ItStartsWithYou sheds light on eight very young Africans whose passions, commitments and grit showcase what it means to embark on an entrepreneurial journey at a young age. The documentaries reveal new role models for other youth who might be considering entrepreneurship. Through the series, the Anzisha Prize is intentional in highlighting the importance of support from parents, educators, investors and policymakers if young people are to…

The South African Social Security Agency (SASSA) has called on its approved beneficiaries of the R350 COVID-19 grant to change their payment methods from the post office to a bank account. SASSA  said in a statement published on Tuesday that it will once again open its system for approved applicants to change their preferred method of payment for the special COVID-19 SRD grant. The window period is scheduled for Monday 31 August to Sunday 06 September 2020, 24 hours a day. During this period, beneficiaries can change from receiving their grants at the post office to receiving them through their…

Mauritius has been a popular holiday destination for South Africans for many years, but the government’s recent concessions have made it more accessible and affordable for South Africans to retire, live and work than ever before. In June 2020, the Mauritian government’s changes to investment thresholds, the extension of work, residence, retirement permits, and attractive property acquisition options, led to renewed interest from South Africans, says Marisa Jacobs, Director at Xpatweb. “Skilled professionals and business owners with families in South Africa are taking note of Finance Minister Renganaden Padayachy’s changes and adjustments for foreigners. It is now easier to buy…

Enygma Ventures announced on Tuesday that it has made a R 4.2m investment into Job Crystal, South Africa’s recruitment company.  “Never has there been a more critical time to get South African’s back into work,” says Sarah Dusek, managing partner and co-founder of Enygma Ventures. “We see the recruitment industry as vital in South Africa’s economic recovery enabling employers to navigate finding the right talent, quickly and efficiently, getting more people back to work sooner.” This investment into Job Crystal will enable this female-led company to develop incredible technology to speed up the process of recruitment making it easier for…

MTN is launching a new prepaid data campaign called MyTown Offers which will allow customers to get specific data bundles based on where they live. The aim of the tailor-made and town-specific data bundles is to suit the needs and budgets of people according to their towns. With MTN MyTown Offers, customers just need to dial *136*2# or *142# and select “MyTown Offers” to access special offers – all personalised just for them based on their pockets and their hometown. MyTown Offers are now available in 85 townships and suburbs across South Africa. The offers are: 500MB daily at R10…

Standard Bank has acquired a 35% equity stake in digital escrow company TradeSafe Escrow. TradeSafe is an online escrow platform that safeguards the buyer’s funds in trust in a transaction involving two or more parties. The funds are only released to the seller, and other approved beneficiaries once the buyer receives the goods or services in the agreed condition. Established in 2013, TradeSafe is the longest-running digital escrow company in South Africa. TradeSafe was also the first digital escrow organisation in the world to offer an API gateway which allows for online marketplaces and stores to offer escrow payments to…

Vodacom Group has announced Raisibe Morathi as its new Group Chief Financial Officer (CFO). Her appointment is effective 1 November 2020, when she will also be appointed to the Vodacom Group Board. As one of the most experienced and one of very few African black female CFOs of a listed company in South Africa, Raisibe’s appointment underscores Vodacom’s commitment to driving diversity across the workplace. Raisibe joins Vodacom from Nedbank Group, where she was the Group Chief Finance Officer since 2009. She was responsible for leading a team of over 900 people involved in finance and operations and focussed on…

South Africa is the first region to benefit from a new, white-label mobile payment, customer loyalty and rewards programme, with the launch of UBU International. The platform-based ecosystem converts the massive power of mobile search for products and services into feet through the doors of local physical and digital retailers. Many businesses have been severely impacted by the COVID lockdowns. Those who have survived the last couple of months are looking for ways to aggressively boost sales. A new platform-based solution addresses this challenge while allowing consumers to support their local retailers as well as their communities. The UBU International…