Author: Loni Prinsloo

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.

Cell C has begun talks to delay debt payments and hired consultants to probe its business practices and advise on a restructuring.

Government is considering a R3.2-billion guarantee for the country’s cash-strapped national broadcaster to help it raise money from lenders, according to a report.

IBM is starting up so-called camps across Africa to train hundreds of engineers and scientists in quantum coding as the US tech giant readies to take hold of commercial opportunities on the continent.