Policy documents in national treasury’s 2020 budget review suggest government will soon significantly relax controls over the export of South African-owned intellectual property.
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Naspers’s Prosus, through its OLX Brazil business, has agreed to spend R9.9-billion to buy Grupo ZAP, described as one of the fastest-growing technology companies in the South American country.
Technology group Alviva Holdings reported a slump in earnings for the six months ended 31 December 2019 due to woes in its ICT distribution segment, a change in accounting rules and foreign exchange losses.
JSE-listed technology services group Datatec is exploring the possibility of listing the Latin American arm of its Logicalis subsidiary on the Brazilian stock exchange, B3.
Sentiment in South Africa’s manufacturing industry fell to the lowest level in more than a decade in February as the prospect of continued power cuts weighed on confidence.
While big technology shares in the US have continued to hit new highs in 2020 – among them, Microsoft, Apple, Amazon, Google and Nvidia – JSE-listed IT companies have had a torrid start to the new decade.
Microsoft has become the latest technology giant to reduce its quarterly outlook based on the outbreak of a novel coronavirus that’s slowing production of computers.
South Africa must make progress on structural reforms before banks like Goldman Sachs Group can help draw foreign capital to the country.
If the US stock market is like a giant stone wall whose structural integrity depends entirely on the sturdiness of five tech megacaps, it didn’t act like it on Tuesday.
It’s been a grim start to 2020 for some South African-listed technology companies, which have seen their shares battered on weak earnings updates and negative investor sentiment.