MTN South Africa has finally reached a consent agreement with the Competition Commission over data prices, more than six weeks after rival Vodacom did the same.
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Unprecedented demand for online services and entertainment during Covid-19 pandemic lockdowns, along with a scramble for haven investments, have helped set South African stocks on course for a record month.
The designation of the toll operations of Sanral as an essential service during the coronavirus lockdown is being questioned by both the Organisation Undoing Tax Abuse and the Automobile Association.
Excitement over bitcoin’s upcoming halving and an overall risk-on environment are pushing up cryptocurrencies, with the largest token reaching its highest level since before the coronavirus-induced crash.
MTN Group has asked a US court to dismiss a case filed against it, in which it’s alleged the company paid protection money to the Taliban in Afghanistan, endangering the lives of US servicemen.
Seacom, which started life exclusively as an undersea cable operator, has slowly been expanding into new areas, including national backhaul and business connectivity. Now, it’s getting into the consumer ISP market.
Not all businesses are suffering during the lockdown. When Enrico Ferigolli and Vincent Viviers, the founders of alcohol delivery app Bottles, learnt that government was banning liquor sales, it came as a shock.
MTN Group shares rose more than 4% in Johannesburg on Wednesday after its biggest unit, MTN Nigeria Communications, posted a solid financial report for the first quarter of the year.
Finance minister Tito Mboweni said the South African economy could contract as much as 6.4% this year due to the coronavirus outbreak and the budget deficit could swell to more than 10% of GDP.
Alphabet shares surged after first-quarter results and upbeat executive comments showed the company’s cloud and YouTube businesses kept growing in the midst of the Covid-19 pandemic.