Telkom Group CEO Sipho Maseko has taken a haircut to his remuneration in the 2020 financial year after no short-term incentives were paid to executive directors.
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Index heavyweight Naspers dropped 4.4% after US President Donald Trump signed a pair of executive orders prohibiting US residents from doing business with the Chinese-owned TikTok and WeChat apps.
A pact between South Africa’s government, labour unions and business to cut Eskom’s debt won’t include a pledge to use the pensions of state workers as had been initially proposed.
Liquid Telecom South Africa has made no decision yet about retrenching staff but has begun a consultation process with employees that could – and probably will – lead to job losses in the months ahead.
MTN Group will exit its operations in the Middle East to become an Africa-only-focused telecommunications operator, CEO Rob Shuter announced on Thursday.
South African business leaders are growing increasingly concerned that the government doesn’t have the will or capacity to overcome the economic devastation wrought by the coronavirus pandemic.
MTN South Africa is feeling the impact of the lost revenue from former roaming partner Telkom, with the company’s service revenue declining by 2.5% year on year despite a strong operational performance.
MTN Group is planning to sell part or all of its R4.2-billion interest in Jumia Technologies as it looks to pay down debt and enter new markets, according to people familiar with the matter.
Samsung Electronics unveiled its latest Galaxy Note smartphone on Wednesday hoping to regain ground against rivals Huawei and Apple as the smartphone market begins to recover from its Covid-19 slump.
Cell C said on Tuesday that it is making “good progress” in what it calls a “complex recapitalisation” aimed at ensuring the financially troubled mobile operator survives the debt noose around its neck.