Alibaba Group founder Jack Ma has used his first visit to South Africa to encourage governments in Africa to support small businesses to address the crippling challenge of unemployment.

MTN Group CEO Rob Shuter has moved to downplay the short-term impact and potential of 5G wireless technology, particularly in the markets in which it operates, saying it’s a “technology searching for an application”.

MTN Group has warned that renewed US-led economic sanctions against Iran had once again tied up funds in its second biggest market, scuppering plans to turn the country into a cash cow after years of troubles.

Naspers’s Video Entertainment unit, which has oversight of DStv parent MultiChoice, has created a new Connected Video unit and appointed a CEO to lead it.

Cryptocurrencies slumped on Wednesday, with bitcoin tumbling below $6 500 for the first time since July.

MTN South Africa has improved profitability on the back of a strong retail consumer business, though its enterprise segment is not turning around as quickly as had been hoped, putting pressure on service revenue growth.