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Virgin Mobile, the first virtual mobile network operator to be launched in South Africa, has been placed into voluntary business rescue.

Andile Ngcaba, the former chairman of Dimension Data Middle East & Africa, is suing the company over alleged racial discrimination and after it allegedly violated an undertaking over equal pay.

Airtel Africa plans to sell about 4 500 telecommunication towers across five countries including Tanzania and Madagascar to help reduce $3.5-billion of debt and prepare for looming bond repayments.

As bitcoin begins testing levels last seen at the peak of the end-of-2017 bubble, South Africa has yet another cryptocurrency exchange in an increasingly crowded market.

The government has eased the terms of a R576-million bailout given to state defence company Denel for the financial year that ends in March 2021, officials said.

Bitcoin’s surge during US election week has pulled cryptocurrency performance further ahead of major asset classes this year.

Bitcoin is in rally mode once more. Whether it’s uncertainty from the US election, the future of the pandemic or simply more investor interest, the cryptocurrency is at the highest level since January 2018.

South African cryptocurrency traders can expect a tightening tax net in the near future, with the revenue service paying close attention to crypto activity in the country.

The JSE has signed a deal with a company called Globacap Technology to create a blockchain-based private placements platform to allow small and medium-sized firms to raise capital.

Facebook’s WhatsApp will roll out disappearing messages to users this month, which will delete posts in a chat after seven days, mirroring rival platforms such as Signal.