MTN’s network spending in South Africa fell 17.1% while Nigeria received nearly three times as much in capital investments.
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MTN Group faces a R3.9-billion write-down, cash it cannot move and a stake it cannot sell, just as Washington escalates.
New shareholders have taken up shares in Frogfoot, Vox and Hypa in a transaction valuing the businesses at R14.4-billion.
Households will not be able to choose who sells them electricity when South Africa’s competitive electricity market opens.
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Five months after taking over as CEO of Sita, Bongani Mabaso has not changed his bullish attitude about the agency’s potential.
Communications minister Mondli Gungubele has lamented the slow pace of “digital transformation” in South Africa.
Apple enacted its long-awaited iPhone price increase with as much subtlety as possible.
Blue Label Telecoms, which is seeking control of Cell C, plans to bring in a new strategic investor into the mobile operator.
Load shedding is expected to stay at elevated levels for the foreseeable future as Eskom battles breakdowns.
Naspers-owned Prosus has launched an aggregated generative AI tool called PlusOne across its portfolio of companies.
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A digital artwork by humanoid robot Sophia was sold at auction on Thursday for more than R10-million) in the form of a non-fungible token.
Intel will greatly expand its advanced chip manufacturing capacity as the new CEO announced plans to spend as much as $20-billion to build two factories and to open up its facilities to outside customers.
Chinese gaming and social media group Tencent Holdings, partially owned by Naspers spin-off Prosus, on Wednesday reported a market-beating 26% jump in quarterly sales, helped in part by its online gaming business.
Shares in Taiwan’s TSMC fell nearly 4% on Wednesday after Intel announced a $20-billion plan to expand its advanced chip manufacturing capacity, even as Taiwan’s economy minister sought to downplay the impact.
MTN has dominated headlines for all the wrong reasons since news of the Nigerian fine hit the headlines last Monday. The company’s share price fell by more than 22% in the week that followed. There has been a lot of criticism directed at management for this mess as it appears to have
MTN has enlisted the help of the South African government and is meeting with Nigerian officials “at the highest level” as it moves to fight off a damaging US$5,2bn fine by the Nigerian
