Author: Gugu Lourie

Vodacom said today that the ongoing power outages have been disastrous for the South African economy and the industry as a whole. The telecoms company, which is part of Vodafone, said it has spent more than R4 billion on backup power solutions such as batteries and generators since 2020, and another R300 million in the last financial year on additional operating costs in the form of diesel, security and maintenance. “We remain confident that the ‘virtual wheeling’ pilot project that we’re pioneering with Eskom, South Africa’s power utility company, will be signed off in the near term and that this…

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Vodacom today announced that its super-app VodaPay has 3.3 million registered users. “I am particularly encouraged by the traction and transaction volume growth that our VodaPay super- app continues to attract through its 5.7 million downloads and 3.3 million registered users,” said Shameel Joosub, CEO of Vodacom. Vodacom added that VodaPay has registered over 100 mini-apps on the platform and is constantly adding more merchants “as we scale the apps and grow transaction volumes”. VodaPay provides a digital shopping, lifestyle and financial platform for consumers and businesses. “Our financial services strategy is supported by a dual-sided ecosystem across consumers and…

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African telecommunications services and managed services provider Seacom says it has suffered a cyber security incident. The incident occurred yesterday and was confined to its hosting environment, Seacom said in a statement. However, the company added that the cyber attack affected a small number of its customers, all of whom have been personally notified and are being kept updated on recovery plans. “Our initial investigation has found that no customer data has been compromised,” Seacom said in a statement. “We want to assure our managed services, corporate and wholesale customers that the impact was limited to a small server environment…

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LinkedIn is cutting 716 jobs and will begin phasing out InCareer, its local jobs app in China, by August 9, 2023. “Though InCareer experienced some success in the past year thanks to our strong China-based team, it also encountered fierce competition and a challenging macroeconomic climate,” said LinkedIn CEO Ryan Roslanky in a letter to staff. “While these decisions are essential for our business, they also mean that some of our teammates will be leaving LinkedIn for new opportunities. We are committed to providing our full support to those impacted.” LinkedIn, which is owned by Microsoft, plans to open up…

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South Africa-based ThisTree Technology Distribution has partnered with NPP Power, the fourth largest manufacturer of lithium-ion batteries in China, to sell and distribute batteries in the South African market to drive the energy transition. NPP operates five different production facilities, including one in Ho Chi Minh City, Vietnam, and four in China (Dongguan, Guangzhou, Henan and Hunan). NPP Power has established sales offices in mainland China and overseas offices in North America, Europe and Africa to establish itself as a global player in the energy transition. NPP is entering the South African market for the first time. The company plans…

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Wi-flix, the fastest-growing streaming platform in Africa, has expanded its presence to Zambia following the launch of its packages with MTN. The streaming platform is already available in Kenya, Ghana, and Nigeria. The streaming service is now available to consumers in the southern African country, providing over 30,000 hours of the best entertainment to Zambian audiences. MTN Zambia subscribers now have access to thousands of hours of unlimited premium content with the launch of Wi-flix in the Zambian market. Users can take advantage of daily, weekly, and monthly data packages starting as low as K1 + free 50MB for a…

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The Empire Partner Foundation has today announced it is pioneering a tech week event, and awards program, which will give South African innovators the chance be recognised for their tech contributions at the inaugural event in Johannesburg at Gallagher Estate, on November 6 2023. The tech week and awards extravaganza will see hundreds of tech innovators gather in Johannesburg for the action packed event. The South African Annual Tech for Innovation and Social Impact Awards will be hosted in collaboration with the MICT SETA. This inaugural event celebrates the work of individuals and organisations in the technology sector who have…

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Access Bank Plc’s parent company Access Holdco has raised $300 million to further to strengthen the bank’s capital base as proceeds of this will supplement the capital needs of its African expansion strategy. “The investment takes the form of a Tier 1 capital qualifying mandatory convertible instrument and is expected to improve the bank’s shareholders’ funds and total capital ratios,” Access Holdings said in a statement. PAC Capital Limited (PAC) acted as the Lead Financial Adviser and Fund Arranger to Access Holdco on its recently concluded $300 Million Investment Finance Facility. Speaking in relation to the facility, Humphrey Oriakhi, the…

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NovFeed, a Tanzania-based biotech company, has won the $1 million grand prize in the inaugural Milken-Motsepe Prize in AgriTech Awards. The company received the $1 million grand prize for its proprietary technology that converts organic waste into nutritious, sustainable and traceable plant-based protein ingredients and concentrated natural biofertilisers for the food system. The Milken-Motsepe Prize in AgriTech is the first in a series of multi-year, multi-million dollar innovation competitions and programmes to promote technological advancement towards the UN Sustainable Development Goals (SDGs). The awards were presented at the Milken Institute Global Conference in Los Angeles, California. View the Milken-Motsepe Prize…

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MTN announced today that it has rolled out over 2 500 5G sites across its markets, mainly in South Africa and Nigeria. “In 2022, we rolled out 1 570 5G sites, mainly in South Africa and Nigeria, bringing our total number of 5G sites to 2 527,” Ralph Mupita revealed in MTN Group’s intergrated annual report. “We increased smartphone penetration to 58.0% of our customer base (up 3.8pp), as we continued our push for greater digital and financial inclusion.” MTN is rolling out 5G after winning spectrum in the Independent Communications Authority of South Africa (ICASA) auction. Additional spectrum is…

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