Pick n Pay Confirms Launch of PnP Mobile on MTN’s Bozza Network

Pick n Pay has confirmed the launch of its own mobile virtual network operator (MVNO). Techcentral reported on Tuesday that Pick n Pay will be...

Latest Posts

ICASA To Charge Telcos For COVID-19 Temporary Emergency Spectrum

The Independent Communications Authority of South Africa (ICASA) announced today that it had approved the amendment of the ICT COVID-19 National State of Disaster...

Business Leaders Should Know The Right Questions To Ask of the New Digital Economy

Simon Sinek, American author and motivational speaker has some great advice for us as we adapt to changing times. “If you go down the...

Toyota Taps Vodacom For In-Car Streaming Services

Toyota South Africa Motors (TSAM) has selected Vodacom as partner to provide in-car streaming services. The new streaming service will be available to Toyota Connect...

Discovery CHRO Tswelo Kodisang is the 2020 CHRO Of The Year

The second annual CHRO Awards celebrated the best and brightest of SA’s HR leaders and the overall winner was Discovery's Tswelo Kodisang. Kodisang, Discovery...

SA govt sells 14% stake in Vodacom to PIC

By Staff Writer

The South African government said on Wednesday it has sold its 13.91 per cent stake in Vodacom to the Public Investment Corporation (PIC)  to help to finance the R23 billion allocation to Eskom.

The National Treasury in a statement said: “In arriving at a decision to dispose of its stake in Vodacom to the PIC, “government undertook a market sounding exercise where numerous organisations presented proposals for raising the funding to be allocated to Eskom.”

It added: “Government considered a wide range of options including the sale of listed shareholdings it holds directly, the disposal of listed stakes held indirectly through Development Finance Institutions (DFIs), the sale of government’s unlisted shareholdings in state owned companies (SOCs) or their subsidiaries, the ring-fencing and sale of assets held by SOCs and the sale of other assets, such as property, owned by the state.”

The National Treasury said the  sale of the Vodacom stake was the most viable option for ensuring that government was able to swiftly realise the proceeds and inject equity into Eskom to bolster the utility while simultaneously ensuring government was still able to deliver on its strategic objectives.

“The PIC’s offer to Government was in line with pricing quoted by other institutions when taking into account the large size of the stake and also provided the added benefit of keeping the shares within the broader family of public sector-related institutions,” said treasury.

Latest Posts

ICASA To Charge Telcos For COVID-19 Temporary Emergency Spectrum

The Independent Communications Authority of South Africa (ICASA) announced today that it had approved the amendment of the ICT COVID-19 National State of Disaster...

Business Leaders Should Know The Right Questions To Ask of the New Digital Economy

Simon Sinek, American author and motivational speaker has some great advice for us as we adapt to changing times. “If you go down the...

Toyota Taps Vodacom For In-Car Streaming Services

Toyota South Africa Motors (TSAM) has selected Vodacom as partner to provide in-car streaming services. The new streaming service will be available to Toyota Connect...

Discovery CHRO Tswelo Kodisang is the 2020 CHRO Of The Year

The second annual CHRO Awards celebrated the best and brightest of SA’s HR leaders and the overall winner was Discovery's Tswelo Kodisang. Kodisang, Discovery...

Don't Miss

SA’s Minibus Taxi Passengers To Get Free Internet Access

Leep Africa, a Johannesburg-based South African company, has developed the world’s first Internet of Things (IoT) mobile hotspot network. Its product, Leep Connect, will...

Google, Telkom Pledges To Invest in South Africa’s Growth

A total of 50 companies, including Google and Telkom, have pledged R109.6 billion at the third annual South Africa Investment Conference. Today’s collective pledge brings...

Vodacom Business Launches Exciting New Solutions Powered By 17 AWS Services

Vodacom Business has worked with Amazon Web Services (AWS) Professional Services, to develop the Vodacom Business Cloud Acceleration Suite for organisations who are looking...

Checkers Sixty60 Wins Gold at the Loeries

Checkers Sixty60 picked up a gold award in the Service Design category at the 2020 Loerie Awards. Sixty60, the first one hour grocery delivery service...

Capitec and Empowerment Capital Invest In FinTech Firm Xago

Xago announced on Wednesday that it had received a substantial investment from Imvelo Ventures.  Xago is an innovative South African FinTech that focuses on an...

Stay in touch

To be updated with all the latest news, offers and special announcements.