Metrofibre Networx, the fibre broadband company led by former Absa CEO Steve Booysen, has secured a new shareholder in the form of African Rainbow Capital (ARC), whose directors include billionaire Patrice Motsepe and former Sanlam CEO Johan van Zyl
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First National Bank intends to axe 600 employee positions and close 40 retail branches as its customers shift to digital banking, according to a report. Bloomberg reported on Monday afternoon that the weak economy had also contributed to the cost-cutting
Technology group Altron expects to report a 90c/share headline loss in the year ended 29 February 2016, a deterioration from the loss of 3c/share reported a year ago, it warned shareholders after markets closed in Johannesburg on Monday. This compares to a headline
The chairman of the South African Post Office has hit back at parliament’s standing committee on public accounts (Scopa) for questioning his commitment to the state-owned entity. Simosezwe Lushaba was lambasted by Scopa for failing to attend the committee’s
Hetzner’s data centre in Midrand, north of Johannesburg, is the site for an extension of the Johannesburg Internet Exchange, Internet exchange operator INX-ZA said on Monday. It’s the first time that Jinx has been expanded beyond its
Seacom is expanding its business services division to Cape Town and Durban, a year after launching the division in Gauteng. At the same time, the company is establishing an office in Cape Town. Seacom, which operates a high-capacity subsea
Police are investigating a case of malicious damage to property after a cellphone store was broken into at the Musgrave Centre shopping mall in Durban on Sunday morning, police said. “Tills were left open and the safe was tampered
Moody’s Investors Service has placed the ratings of 11 South African regional and local governments and three government-related entities under review for possible downgrade. In addition, Moody’s has changed to
Cape Town-based open-access fibre-to-the-home broadband provider Octotel has announced plans to expand to the upmarket Atlantic seaboard suburbs of Mouille Point and Bantry Bay in the next two months. The company said on
MTN on Friday warned shareholders that reports that it has proposed to pay 300bn naira (about US$1,5bn; R23bn) to settle the fine imposed on it by the Nigerian Communications Commission