Author: Staff Writer
MTN Group announced on Thursday that it has completed the sale of ATC joint ventures. Africa’s largest mobile phone operator sold ATC joint ventures for R8.9 billion. The sale is part of MTN’s asset realisation programme (ARP), introduced in March 2019, which aims to reduce debt, simplify its portfolio, reduce risk and improve returns. Subsequent to MTN Group’s announcement on 11 March 2020 reporting its 2019 annual results and the conclusion of the disposal of its stake in ATC Uganda for R2,2 billion, MTN confirms that regulatory approvals have now been received for the disposal of its stake in ATC…
In these uncertain times, only one thing is really certain, and that’s that every company and its dog wants to tell you what it’s doing in the wake of the Corona crisis. Yet amidst the benign platitudes, gloomy headlines and pervasive uncertainty, here’s some really, really good news: TymeBank, South Africa’s first digital bank, will honour their commitment to their customers and keep their interest rate unchanged at 10%. Worth noting is that TymeBank has taken this decision before the Reserve Bank makes its announcement later today and likely cuts the benchmark interest rate by a considerable amount. TymeBank’s bold…
As part of its efforts to continuously give consumers more than what they bargain for, Telkom has announced that it has revamped its FreeMe offerings. From 20 March 2020, new Telkom mobile customers will get a bit of everything on the New FreeMe plans. This means more benefits across all tariff plans and MORE Monate for everyone. Some of the new product offerings like all network calls and extra data for streaming will be available across all packages. “Customers are at the core of how we innovate and improve our product offering. Over the years, we have been able to…
SA Express has suspended its operations effective as of Wednesday as a result of the Coronavirus (COVID-19). “In light of adverse recent developments including the impact of the COVID-19 pandemic, SA Express announces that it will suspend operations from 18 March 2020 until further notice,” said the airline in a statement on Tuesday night. In light of the suspension, the airline will accommodate its customers on alternative flights. In addition, all non-critical SA Express staff will be placed on compulsory leave during this time. “The airline will utilise this period to review its current network and streamline operations for improved…
South Africa’s communications watchdog has temporarily suspended all public hearings, the regulator said on Wednesday. The Independent Communications Authority of South Africa (ICASA) said in a statement it was reviewing its day to day business to align itself accordingly in order to mitigate the spread of COVID-19. In view of President Cyril Ramaphosa’s address to the nation on Sunday, 15 March 2020, ICASA has activated the crisis management initiatives as required by the organisation’s Business Continuity Policy to ensure its preparedness to respond to the COVID-19 pandemic. The following decisions have been taken in this regard: All public hearings have been…
South Africa is feeling the real impact of the rising numbers of the Covid-19 pandemic in both its communities and economy. The JSE is focused on ensuring the health and wellbeing of its people at all times. In line with World Health Organisation (WHO) guidelines and national government, the JSE proactively implemented several precautionary measures to ensure that its employees are able to work safely and enable continuous trading in its capital markets. The JSE is of the view that the most prudent approach is to keep markets open to enable all market participants to conclude transactions in accordance with…
Staying informed about the latest news on the virus is the first step in stopping its spread. That’s why news outlets all over the world are dedicating entire news teams, segments and broadcast schedules keeping audiences up to date on every development. In South Africa, DStv has made a selection of channels available to all South Africans for free through DStv Now, the company said in a statement. DStv Now is the online version of DStv and it’s free to DStv subscribers. Watch on a smartphone, tablet, laptop, computer, smart TV or Xbox. In response to the COVID-19 situation, DStv Now has added…
South Africa’s Grindstone Accelerator announced on Tuesday it has concluded partnership agreements with Google for Startups and Deloitte to extend its reach. Grindstone confirmed Google for Startups as a technology partner in South Africa, where it will provide Google for Startups programmes to future Grindstone cohorts. Kevin O’Toole, Google’s Global Head of Accelerator Strategy, Operations, Partnerships and Programs, unpacked the opportunity: “The ‘Grindstone Google for Startups’ initiative will connect Grindstone to an elite group of the world’s top accelerators, allowing it to share information and leverage resources. Grindstone will be able to access Google’s global network, insights from the company’s…
The National Treasury will later this month kick off a consultative process on the taxation of electronic cigarettes from 2021. This comes after Finance Minister made the announcement in the 2020 Budget. In a statement, the Treasury said: “Government is concerned about the potential long term health harm related to the use of these products”. In recent years, new generation products such as electronic nicotine delivery systems (ENDS) and electronic non-nicotine delivery systems (ENNDS) have been introduced in the market. The Treasury said these products, also known as electronic cigarettes (e-cigarettes), are battery-powered devices that do not burn or use…
Human Settlements Minister Lindiwe Sisulu says government will ask the banking sector and the Council for Scientific and Industrial Research to help in finding ways of using technology to fast-track the issuing of title deeds. She said this when Ministers in the Social Services cluster fielded oral questions at the National Assembly on Wednesday. This comes as she told Members of Parliament that while the department – through its provincial and municipal offices – has issued just under 30 000 title deeds to date, more needs to be done to fast-track the delivery thereof. “To assist us to fast-track this, we…