Author: Loni Prinsloo

Vodacom Group fell the most in more than two months after it reported falling sales in South Africa, where a slower than expected economic recovery dampened consumer spending.

WorldRemit, a UK company that specialises in money transfers into Africa, plans a new funding round in the next six months ahead of a potential initial public offering or buyout.

Vodacom is paying out “reasonable compensation” to a former employee for his idea to develop a popular call-back service after a former CEO first took credit for the product.

Eskom is said to be considering the sale of smaller assets as the state-owned power utility weighs solutions to a liquidity crisis that contributed to a wave of rolling blackouts.

Liquid Telecom received a $180-million cash injection from UK development finance institution CDC Group as Africa’s largest fibre network operator expands broadband infrastructure across the continent.

Telkom is considering making an offer to buy a majority stake in Cell C that would lead to a combination of South Africa’s third- and fourth-largest mobile phone companies, according to people familiar with the matter.

Vodacom is keeping some of its South African franchise stores shut after members of opposition party Economic Freedom Fighters allegedly vandalised outlets in protest of an image of their leaders at an event hosted by the wireless carrier.

Naspers has its sights set on acquisitions as it targets “significant investments” for its $10-billion cash pile in the next couple of months, chief financial officer Basil Sgourdos said.

Naspers first-half earnings climbed 39% as it made further progress in turning a profit at its myriad Internet businesses, it said on Friday.

The group’s chief innovation officer, Herman Singh, is expected to leave to start his own tech venture, sources said, following chief technology officer Babak Fouladi out the door.