Author: Gugu Lourie

JSE announced on Thursday that it has agreed the terms of a commercial arrangement with Globacap Technology (Globacap) to establish a blockchain-enabled private placements platform. The company said the platform will enable the raising of infrastructure finance and to allow small-to-medium sized issuers to raise capital in South Africa. The deal includes digital registry services, and remains subject to licensing approval requirements. “As private capital markets continue to grow in importance, and are an increasingly attractive alternative source of capital for issuers, the JSE intends to create a centralised platform for issuers to effectively and efficiently raise capital,” the JSE…

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JSE and Nasdaq-listed listed Datatec announced on Thurday that its subsidiary Logicalis Group has acquired a 65% interest in iZeno, a specialist in Digital Transformation solutions based in Singapore. iZeno has a team of 85 skilled employees who have delivered, implemented and optimized enterprise solutions to more than 300 clients across finance, manufacturing, banking, gaming, healthcare, telecom and retail industries. The company is headquartered in Singapore with additional operations in Malaysia, Indonesia and Thailand. The deep skills iZeno has in DevOps, application modernization, customer experience and hybrid cloud strongly enhances the scope of services offered by Logicalis and will accelerate the…

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President Cyril Ramaphosa has highlighted preparation – through the Infrastructure South Africa (ISA) project preparation roundtable – as the key to unlock South Africa’s post COVID-19 economic recovery. “This roundtable is the beginning of a more dedicated and structured approach to project preparation. It paves the way for greater private sector participation in this crucial stage of the project life-cycle. The South African government is committed to financing project preparation,” he said. The President delivered the opening address at the ISA project preparation roundtable at the Gallagher Convention Centre in Midrand on Tuesday. The ISA project preparation roundtable aligns with…

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Thousands of South Africans from every nook and cranny of the country painted the country pink on Saturday as they walked with a purpose and to make a difference in different locations across the country to pledge their support to the fight against breast cancer in the first-ever virtual Avon Justine iThemba Walkathon. The 15th edition of the Avon Justine Walkathon, which is the biggest breast cancer awareness walkathon in the Avon world, was hosted virtually due to lockdown restrictions on social gatherings. Nonetheless, the event was coordinated from the nerve centre at the Avon Justine Head Office in Johannesburg…

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Huawei, rain and Wits University have jointly launched South Africa’s and Africa’s first 5G laboratory, which gives students access to a live 5G environment to build knowledge of the revolutionary technology’s applications for the local market. The 5G Innovation Lab, situated at the Wits Tshimologong Digital Innovation Precinct, is part of a longer-term joint innovation programme between business and the leading academic institution. It is aimed at driving innovations to promote social progress for South Africa in the digital era or fourth industrial revolution (4IR). In terms of the collaboration, Huawei provides its end to end 5G solution, supported by…

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The boss of Etion, Teddy Daka, and Dr Snowy Khoza, the chairman of the group, have resigned from the diversified digital technology company. The resignation of Daka is effective from 31 January 2021 and that of Dr Khosa is effective 31 December 2020. Daka will remain as a non-executive director of the board of Etion. The JSE-listed firm said the decision by Daka to step down follows a strategic decision by the board to dispose of its various operating subsidiaries/divisions. For more read: Teddy Daka’s Etion Explores Asset Sale to Create Shareholder Value The company announced last week that it…

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MTN South Africa attracted 1.9 million new customers to its Bozza network for the quarter ended 30 September 2020. The mobile phone company said this pushed its total local subscribers to 30.9 million. “The majority of additions were prepaid customers, reaching a total of 24,3 million and marking the largest quarterly increase in nearly 18 months. Postpaid subscriber numbers remained broadly flat at 6,6 million, primarily as a result of churn on short-term COVID-19 related deals,” the company informed investors on Friday. “Excluding the net impact of these deals, the postpaid subscriber base increased 168 100 for the quarter.” MTN…

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The Dutch arm of South African internet titan Naspers, Prosus announced on Friday plans to acquire up to $5 billion (R82 billion) in total of Naspers and Prosus shares. The company said this was a further step to crystalise value for shareholders. The deal follows earlier actions such as the unbundling of MultiChoice Group and the listing of Prosus on Euronext Amsterdam last year. The company added that the purchase of Naspers and Prosus shares also represents a meaningful investment in the group’s strong internet portfolio. It is regarded as a good use of capital, given full market valuations evident in…

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Canal+ has increased its shareholding in pay-TV operator MultiChoice to 12% as the Vivendi’s own company continues to see value in the South African-based firm. MultiChoice on Thursday informed investors that Canal+ has increased its stake to 12% of the company’s total ordinary shares in issue. “As a publicly held company, MultiChoice regularly engages with its strategic partners and maintains an open dialogue with the investment community,” MultiChoice said. “The group’s policy is not to comment on its individual shareholders nor on its interactions with them. The company remains committed to acting in the best interests of all shareholders and to create…

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JSE-listed Etion is considering selling off business units to create shareholder value for its investors. The diversified digital technology company did not specify how much it hopes to raise from asset sales. In  August, Teddy Daka, the boss of Etion, told TechFinancials that is looking to take the company internationally as he aims to cut business risks associated with slower growth in South Africa. The firm, which is seeking expansion opportunities in Latin America and South-East Asia, informed investors on Wednesday that its board had initiated an investigation into various options available to Etion to unlock value for its shareholders.…

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