Author: Duncan McLeod

Telkom has disclosed in its integrated report, published on Monday, that it will pay its outgoing group CEO R20-million to retain his services for the two years between March 2020 and March 2022.

Sipho Maseko, who announced last week that he will step down as Telkom CEO next year, saved the company from impending ruin. That might sound like an overstatement; it’s not. By Duncan McLeod.

Sipho Maseko is stepping down as CEO of the partially state-owned telecommunications group Telkom after nine years in the job. He will depart on 30 June 2022.

Vodacom Group reported a strong 9% advance in revenue in the first quarter of its 2022 financial year, reaching R24.8-billion. If it hadn’t been for rand strength, the figure would have been 14.2%.

State-owned logistics giant Transnet has fallen victim to a cyberattack, a report said on Friday. Details are still sketchy, but Transnet said an IT-related problem has affected container operations.

South Africa’s mobile operators, including Vodacom, MTN and Rain, are set to face a big challenge to their business models from an unexpected quarter: fixed-line broadband. By Duncan McLeod.

Naspers-controlled consumer Internet investment group Prosus is leading an R18.2-billion funding round in Indian food-delivery giant Swiggy. Japan’s SoftBank Group is a co-investor in the round.

CIVH, the Remgro-controlled company that owns Dark Fibre Africa and Vumatel, is now worth more than Telkom, the company that once enjoyed an absolute monopoly over telecommunications in South Africa.

Remgro said on Monday that it is participating in a the second tranche of a rights offer by CIVH, the parent of fibre telecommunications companies Vumatel and Dark Fibre Africa, aimed at reducing debt.

A pandemic-led boom in online shopping in South Africa has seen Woolworths report a 118% increase in online food sales in the 52-week period to 27 June 2021.