Author: Loni Prinsloo

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.

Loon, spun out of the search giant’s X innovation lab in July, is teaming up with Telkom Kenya to build a network of high-flying balloons to connect people in the East African country

MTN Group is making “great progress” with Nigerian authorities in talks about US$10.1-billion in claims, encouraging Africa’s largest wireless carrier that it can settle the long-running dispute out of court.

Vodacom Group shares fell after the wireless carrier with the most South African customers reported slower revenue growth in its domestic market, as a sluggish economy hurt consumer spending.

South African telecommunications tower company Atlas Tower is in talks to bring in partners from the country’s black majority to help it expand at home and enter new markets, according to sources.

Econet Wireless Zimbabwe plans to list its financial units as a single entity on the country’s stock exchange and sell a majority stake in network operator Liquid Telecom Zimbabwe back to the firm’s parent company.

Former Vodacom Group executive Romeo Kumalo has started a tech-focused South African investment firm and aims to raise as much as R2.9-billion in an initial public offering next year, sources say.

MTN Group has boosted sales ahead of targets in the third quarter, showing its ability to grow the business even with a major regulatory spat that’s rocked shares of Africa’s largest wireless carrier.