Vodacom Group has updated its profit outlook on the back of the acquisition of East Africa’s largest mobile phone company that’s helping it push into financial services.
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Vodacom will acquire a 51% stake in South African Internet of things specialist IoT.nxt, the telecommunications group said on Monday.
Despite continued rapid growth in demand for data by customers, Vodacom South Africa eked out a meagre 3.9% increase in data revenue in the 2019 financial year as price cuts and lower out-of-bundle tariffs impacted the top line.
JSE-listed telecommunications company Huge Group has acquired a shareholding in Pansmart, an authorised distributor of Panasonic voice, video and CCTV products in South Africa.
President Cyril Ramaphosa has a formidable challenge: picking a cabinet that can dismantle a shadow state of corruption and revive the flagging economy.
Bitcoin surged more than $1 000 this weekend to the highest level since August, as cryptocurrencies extended their rebound from a slump last month.
Between 6 March, the day before MTN announced its results for the year to December, and 9 May, when it published a first-quarter trading update, its share price has increased by 36%.
When e-commerce platform Jumia listed in New York last month, it was heralded as Africa’s first unicorn to go public.
Amazon.com CEO Jeff Bezos has announced he is going to send a spaceship to the moon.
President Cyril Ramaphosa has the full backing of the ANC to reduce the size of the cabinet after the elections, senior official Fikile Mbalula said.