Author: Gugu Lourie
The Information Communication Technology Union (ICTU) has asked Investec to explain the ‘devaluing’ of the “Believe Phantom Option Shares Scheme (Believe Share Scheme)” awarded to Cell C workers a few years ago. In a memorandum seeking clarity on the matter, the ICTU says: “We require Investec to make available the audited financial reports received by Investec from Cell C, which informed Investec as the fund administrators to render the share scheme to be deemed to have lost monetary value.” The union added: “We question and require a detailed explanation of the non-communication on the share scheme to the registered individual shareholders from…
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 retire from the board with effect from 25 September and 31 December 2020, respectively. South Africa’s biggest fixed-line telephone operator informed investors on Wednesday that they will be replaced by Alphonzo Samuels and Hemmanth Singh. “Telkom welcomes Messrs Samuels and Singh to the Board of Directors, and looks forward to their contributions to the company,” Telkom said in a statement. “The company also extends its gratitude to Botha and Kweyama for their contributions over the…
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 Rand Merchant Investments (RMI), through its fintech investment arm, AlphaCode. Both have sold their stakes to BCG. It is a global cryptocurrency company that makes it safe, easy to buy, sell, store and learn about cryptocurrencies with over 5 million customers in more than 40 countries. DCG is a global enterprise that builds, buys and invests in blockchain companies. It is also an investment firm that has backed more than 160 blockchain companies around the…
The arrival and rapid rise of the digital economy presents South Africa with an opportunity to reverse the pervasive, triple scourge of unemployment, inequality and poverty. But to harness the promised benefits of digitalisation, South Africa must create a commercial and regulatory environment designed to extract those benefits and distribute them in a way that ensures inclusive economic growth. The South African competition watchdog, the Competition Commission, has published a paper title “Competition in the Digital Economy” which aims to inform its government and corporate stakeholders of its approach to regulating competition in the digital economy. As an open economy,…
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 n Pay’s SmartShopper and Woolworths’ WRewards. The Checkers Xtra Savings Programme gives customers extra cash savings on more than 1,000 products every month. Checkers has revealed that it has signed up 4.7 million customers since inception in November 2019. “It delivered from day one on the group’s objective to ensure our customers save more every day,” the company informed investors on Tuesday. “This has been further entrenched with the successful launch of our personalised offers programme.…
The opportunities for mobile payments arrive at a pivotal time. African countries such as Nigeria and Ethiopia are now welcoming more investment in mobile services, according to a new report by Boston Consulting Group (BCG) titled Five Strategies for Mobile-Payment Banking in Africa. The COVID-19 crisis has provided a further opportunity. Mobile payments make social distancing easier, and these new digital solutions can help businesses and consumers cut their day-to-day expenses at a time of financial stress. At the same time, many African economies have strong and resilient fundamentals, including a young, fast-growing population and ongoing improvements in the business environment and governance.…
The Independent Communications Authority of South Africa (ICASA) is now changing gears and informing operators that the auction for the high-demand spectrum will be completed no later than 31 March 2021. That’s noteworthy considering the regulator promised to auction the 4G and 5G spectrum by 31 December 2020. None of this is all that surprising, however, mainly because the goalpost has been shifted several times by the regulator and government. ICASA announced today that the Invitation To Apply (ITA) for both the Wireless Open Access Network (WOAN) and the International Mobile Telecommunications (IMT) spectrum, also known as high demand spectrum…
Telkom has introduced a SmartBroadband SIM-only 1TB LTE deal for R999 that can be subscribed to on a 24-month contract with a device or on a month-to-month contract. The SmartBroadband Wireless post-paid LTE data product is available only on Telkom LTE/LTE-A 2300MHz and 1800MHz coverage. The SmartBroadband 1TB Wireless post-paid data offer, includes 1000GB anytime data per month. “Telkom’s SmartBroadband Wireless is bringing you something bigger than big with the first-ever Terabyte offer in South Africa,” the company said. “For a limited time only, you could be one of the first customers to take advantage of this crazy, game-changing deal…
The new S-Class is described by Mercedes-Benz as a saloon that uses digitisation for a car that responds empathetically to the needs and wishes of its driver and passengers. The S-Class stands for the fascination of Mercedes-Benz: legendary and traditional engineering expertise defines the luxury segment in the automobile industry. No date yet for delivery in South Africa, but the new S-Class can be experienced with all the senses – seeing, feeling, hearing and smelling – while offering numerous innovations in the areas of driver assistance, protection and interaction, according to Mercedes-Benz. The German carmaker says with this new saloon…
As a company that stand for women, Avon believes that behind every woman, there is a compelling and inspiring story to tell. This is the story of Myrtle Moodley, Avon Independent Business Owner.