Checkers Rewards Programme Has Attracted Over 4.7 Million Customers

Checkers, Africa’s largest supermarket group in November 2019 introduced its new rewards programme, called Checkers Xtra Savings. The programme was to compete with Pick...

Latest Posts

MTN Takes Interim Measures To Preserve Liquidity of MTN Zakhele Futhi

The liquidity of MTN Zakhele Futhi has been impacted by MTN’s decision not to declare a dividend in its financial results for the six...

Spring Into Action This Spring – 6 Steps To Buying The Perfect Home

Spring is one of the best seasons to buy a home. The weather is warming and the positive shift in weather is prompting people...

Lawyer Belinda Mapongwana Appointed as Chairperson of MTN Zakhele Futhi

MTN Zakhele Futhi, the black economic empowerment scheme of MTN Group, has tapped lawyer Belinda Mapongwana as its chairperson. Mapongwana will replace Sindisiwe Mabaso-Koyana, who...

Avon Commemorates International Peace Day With a Premier Film on Domestic Violence

Global beauty and cosmetics company Avon will be joining the global community in commemorating International Peace Day on September 21, and the company will...

Rain is Now Valued at More Than R15 Billion, Making it Bigger Than Telkom

South African mobile data network operator Rain is now valued at more than R15 billion by its parent company African Rainbow Capital (ARC). The valuation places Rain above Telkom, South Africa’s biggest fixed-line telephone group, which is valued at more than R12 billion on the JSE.

In an investment update published on Tuesday, ARC said: “The ARC Fund’s investment in Rain increased from R2, 5 billion at 30 June 2019 to R3, billion at 30 June 2020, mainly as a result of a fair value write-up of R479 million (2019: R364 million).”

ARC owns 20.7% stake in Rain.

Rain, partly owned by Patrice Motsepe, Paul Harris and Michael Jordaan, is taking on established players such as Vox, Vumatel and Telkom’s OpenServe in the lucrative broadband space.

ARC also revealed Rain experienced a surge in subscriber numbers as people were required to work from home.

“Economic and social activities have increasingly moved online, including schooling, entertainment and connecting with family and friends,” it said.

ARC added that by the end of April 2020, Rain had rolled out 447 5G towers and aims to increase this to 1500 by December 2021.

“Ultimately more than 2000 5G towers in larger metro areas throughout South Africa are planned, bringing ultra-fast broadband connections to homes and small businesses at an affordable cost.”

Rain 4G roll-out has also progressed well, with 5,500 active sites live as at the end of April.

Rain has three main income streams. Firstly, it earns roaming income from Vodacom in terms of an infrastructure and services agreement.

It secondly earns revenue from 4G data sales and also earns some income on the fixed reseller business which is in the process of being wound down to create capacity to expand the 5G network. The 5G network was launched in September 2019, thereby making South
Africa one of the first countries in the world to deploy this new technology.

Latest Posts

MTN Takes Interim Measures To Preserve Liquidity of MTN Zakhele Futhi

The liquidity of MTN Zakhele Futhi has been impacted by MTN’s decision not to declare a dividend in its financial results for the six...

Spring Into Action This Spring – 6 Steps To Buying The Perfect Home

Spring is one of the best seasons to buy a home. The weather is warming and the positive shift in weather is prompting people...

Lawyer Belinda Mapongwana Appointed as Chairperson of MTN Zakhele Futhi

MTN Zakhele Futhi, the black economic empowerment scheme of MTN Group, has tapped lawyer Belinda Mapongwana as its chairperson. Mapongwana will replace Sindisiwe Mabaso-Koyana, who...

Avon Commemorates International Peace Day With a Premier Film on Domestic Violence

Global beauty and cosmetics company Avon will be joining the global community in commemorating International Peace Day on September 21, and the company will...

Don't Miss

Telkom Taps Ex-MTN Executive and Openserve Boss as Board Members

Telkom has announced the appointment of new board members after the retirement of independent non-executive directors Santie Botha and Khanyisile Kweyama. Botha and Kweyama will...

Vodacom Zero-Rates New COVID Alert SA App

This past week, the national Department of Health (DoH) launched a COVID Alert SA App – in partnership with Discovery - to strengthen the...

Judi Bola Online: A Complete Guide on Sports Betting

Games or sports have always been a relaxing and entertaining activity for all of us. There are different kinds of outdoor and indoor games...

Vodacom Joins SADC’s TCIB Instant Payments Scheme

Vodacom Group and the SADC Banking Association have signed a memorandum of understanding that will allow the Vodacom Group to join the South African...

New York-Based DCG Buys Naspers-Backed Luno

Luno, one of the largest crypto exchanges in Africa, has been bought by New York-based Digital Currency Group (DCG). Luno is backed by Naspers and...

Stay in touch

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