Author: Loni Prinsloo

Government will consider a proposal for a once-off wealth tax during an economic recovery planning meeting on Monday, according to a report on Sunday.

Naspers remains on the lookout for acquisitions even as economies around the world grind to a halt in the face of the coronavirus pandemic.

Helios Towers’ plans to expand following last year’s London share sale may have been waylaid by the coronavirus outbreak, but the Africa-focused company has $350-million primed and ready for when deal-making can resume.

MTN Group will push on with a plan to reduce its majority stake in its Nigerian business, though turmoil caused by the coronavirus may require the sale to be done in smaller chunks than anticipated.

MTN Group said its Iranian business is still able to achieve strong sales growth in the short term, even as the unit battles to overcome ongoing US sanctions and the rapid spread of the coronavirus.

A labour union is trying to prevent Telkom from continuing with a plan to cut as much as 20% of its workforce to cope with falling sales in its landline business and a weak South African economy.

SAP Africa’s head said the German software company is battling to complete investigations after allegations its employees paid kickbacks for government business in East and Southern Africa.

Vodacom Group sees its African financial services business as a cornerstone of growth as the wireless carrier expands into products such as funeral insurance and loans of as little as $2.

Vodacom is in talks with Cell C about taking on the smaller rival’s contract-paying mobile phone customers, a move that would strengthen its position as South Africa’s telecommunications market leader, sources said.

Cell C’s creditors aren’t giving up on a takeover offer from rival Telkom, which South Africa’s third largest mobile network operator rejected last week.