Author: Duncan McLeod

Shares in Telkom soared shortly after markets opened in Johannesburg on Friday as investors took cheer from the fact that the it won’t be burdened with rival Cell C’s debt problems.

Cell C is pulling the plug on Black, its ill-fated video-on-demand platform in which it invested well north of R1-billion since its launch just two years ago.

Vodacom Group on Thursday rubbished a report suggesting its CEO, Shameel Joosub, will soon leave the helm of the telecommunications operator to take on a new role as CEO of Vodafone Africa.

Remgro-controlled telecommunications group Community Investment Ventures Holdings, the parent of Dark Fibre Africa and Vumatel, has appointed Raymond Ndlovu as CEO.

Just two days after the news that Vodacom’s chief technology officer, Andries Delport, is leaving for Remgro-controlled telecommunications provider CIVH, the group has announced the exit of its chief financial officer, Till Streichert.

Remgro-controlled CIVH is quietly becoming a serious player in South Africa’s telecoms landscape – one that has the potential, if it executes well on its plans, to become a major contender in a rapidly shifting sector.

Telecommunications equipment vendor Ericsson predicts that the worldwide number of 5G subscriptions will soar to 2.6 billion within six years.

Outgoing Vodacom Group chief technology officer Andries Delport will join CIVH as CTO where he will drive the strategy around the Remgro-controlled group’s big expansion plans in the telecommunications sector.

Vodacom Group’s long-serving chief technology officer, Andries Delport, has resigned after 23 years with the telecommunications operator.

JPMorgan has declined to comment on suggestions that it pressured First National Bank, through parent FirstRand, to shut the bank accounts of South African cryptocurrency exchanges.