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Fitbit’s fall signals end of wearables hype

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As the market leader, Fitbit has always been regarded as being synonymous with wearables in general. Its launch as a public company was at a point when the hype of wearables was at a peak with claims of the technology bring about a revolution in

Spotify surpasses 50m paid subscribers

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Spotify has surpassed 50m subscribers, extending its lead over rivals Apple Music, SoundCloud and Google as the world’s largest paid music streaming service. The service, owned by Stockholm-based Spotify, has been growing

Snap sparkles on debut, worth $29bn

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Snap, maker of the disappearing photo app that relies upon the fickle favour of millennials, jumped in its trading debut after pricing its initial public offering above the marketed range. Shares opened at US$24 and

Bank of Baroda ‘closing’ Gupta accounts

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Bank of Baroda’s South African unit has started closing accounts of companies controlled by the Gupta family, according to three people familiar with the matter, potentially leaving the friends of President

MTN ‘comfortable’ with Blue Label deal

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MTN South Africa CEO Mteto Nyati has said the mobile operator is “comfortable” with its distribution partnership with JSE-listed Blue Label Telecoms, despite the latter’s plan to acquire a 45% stake in mobile

Net1 to buy 15% of Cell C

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Net1 UEPS Technologies, the company whose subsidiary Cash Paymaster Services manages the payment of welfare to 17m South Africans under a controversial tender, is acquiring a 15% stake in

Chaos as welfare payments crisis deepens

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South Africa’s welfare agency said it withdrew its application to the nation’s highest court to extend a payment distribution contract with Net1 UEPS Technologies the day after it filed it. That’s added to