Author: Loni Prinsloo

Atlas Tower is selling its South African tower portfolio to shareholder SBA Communications for R2-billion.

The company that runs Africa’s largest public Wi-Fi network is being liquidated after the unprofitable business failed to secure new investors.

EOH Holdings plans to sell a further R1-billion of non-core businesses in 2020 as it reorganises and reduces debt.

South Africa’s third-biggest mobile operator has put core parts of the business up for sale as it struggles with R9-billion of debt and deepening losses.

A group of local banks have committed to provide temporary liquidity and extended the maturity of R1.2-billion of debt that was due to be repaid last month, Cell C said.

Shareholders in telecommunications company Vox, including Rand Merchant Bank, have agreed to buy out fellow investor Investec as part of a R2-billion recapitalisation of the company.

Naspers is looking to invest in machine learning as Africa’s largest company seeks to expand following an Amsterdam listing of assets including a stake in Tencent Holdings.

Naspers has received enough votes from shareholders to proceed with an Amsterdam listing of assets including a R1.9-trillion stake in Chinese Internet giant Tencent Holdings.

MTN Group’s first-half earnings rose as Africa’s largest wireless carrier pushed ahead with an asset disposal plan and saw strong profit growth in its biggest market of Nigeria.

Jumia Technologies’ plan to expand its online retail and trading platform in less developed parts of Africa has long had one significant challenge: a lack of formal addresses for deliveries.