Roelof Botha, the grandson of former South African foreign affairs minister Pik Botha, was closely involved in the funding of social networking site Tumblr, which Yahoo this week agreed to buy for US$1,1bn. Pretoria-born Botha, who served on Tumblr’s board of directors, was also a key role player in the $1,5bn, 2002 sale
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The government employees’ pension fund is to acquire a 25% stake, worth about R500m, in Independent News and Media SA, according to a report on Tuesday. According to Business Day, the fund already owns a 19,5% stake in Times Media Group, which publishes Business Day and other major titles in
The National Energy Regulator of SA (Nersa) has granted Eskom a licence for its Sere wind farm in the Western Cape, the power parastatal said on Monday. “This is an exciting milestone in Eskom’s move towards a cleaner energy mix,” Eskom CEO Brian Dames said in a statement. “Sere is our first
US senator John McCain has introduced a bill that proposes forcing cable television operators to allow Americans to subscribe to only the channels they choose rather than having to pay for bouquets of channels, many of which they never watch. The prospect of paying only for the channels
The department of communications, which recently appointed a new spin doctor in the form of Wisani Ngobeni to manage the growing fall-out over allegations of nepotism and corruption against its minister, Dina Pule, has again gone on the attack against the Sunday Times. At the weekend, Ngobeni
Altron has made an offer to buy out the minority shareholders in its subsidiary Altech, the two JSE-listed companies announced on Friday. The move sent Altech’s share price soaring by more than 30% on Friday afternoon, shortly after news of the offer was published. The move had been widely expected
Gijima nonexecutive director Andrew Mthembu has resigned from the board of the troubled JSE-listed technology services company after nine years as a director. Mthembu was Gijima’s lead independent director and chairman of the remuneration committee. The resignation is with immediate
Limpopo and Mpumalanga are to get a high-speed broadband network after state-owned infrastructure company Broadband Infraco said it intends rolling out fibre-optic networks in the provinces. Broadband Infraco CEO Puleng Kwele says the “northern ring capacity
India’s Tata Communications has rubbished talk that it plans to sell its South African subsidiary, telecommunications operator Neotel. Company spokesman Rozzyn Boy on Friday said Tata had no intention of selling the company. “We don’t have any plans to sell Neotel, no
Telkom looks set to shut down its telex network because of lack of use and ever-shrinking revenues from the ageing service. The move is expected to affect as many as 26 employees. The move comes as a long-running legal battle finally heads to the high court in Pretoria next week. Telkom is facing a