RainFin, a start-up promising to disrupt the financial services sector by allowing credit-worthy South Africans to engage in person-to-person lending, cutting out the banks in the process, has sold 49% of its equity to … a bank. The Cape Town-based company has sold the equity to Barclays Africa for an
Government has not received any reports that the economy has been affected by power cuts, water & environmental affairs minister Edna Molewa said on Thursday. Briefing reporters at parliament on behalf of cabinet, Molewa said a call had been received from Eskom on Thursday morning concerning the power cuts which
The City of Cape Town started implementing “stage three” power cuts on Thursday, the city said. “Stage three is the highest level of load shedding possible,” said spokesman Neil Ballantyne. The schedule of affected areas was available on the city’s website. “The city will keep
Yolisa Phahle has been named as the new CEO of M-Net South Africa, parent company MultiChoice said on Thursday. Phahle is currently director for local interest channels at M-Net. She joined the group in 2005 as GM of Channel O. In 2009, she was appointed as director
Eskom will start power cuts from 9am on Thursday, a spokesman confirmed. “There will be load shedding in different suburbs across the country,” said Eskom spokesman Andrew Etzinger. He said it was likely to continue until 10pm. Municipalities were informed of the need
Eskom declared an emergency on Thursday morning and warned of possible power cuts. Spokesman Andrew Etzinger said seven days of heavy rain had left coal stocks wet. “We have asked our large industrial customers, to reduce their consumption by 10%, but it appears
MTN has a “number of options on the table” if the sale of spectrum is included in Vodacom’s looming deal to buy Neotel. “If the transferability of spectrum is something that becomes kosher in a market context, we’d be in a position to capitalise on that change,” MTN
Telkom CEO Sipho Maseko “omitted facts” in his open letter at the weekend to his counterparts at MTN and Vodacom and his comments were “a bit rich”. That’s the word from MTN South Africa CEO Zunaid Bulbulia, who told TechCentral on Wednesday
Judgment on whether the e-tolling legislation is unconstitutional and invalid was postponed in the Western Cape high court on Wednesday. Judge Owen Rogers said he would need time to deliberate on arguments around the tagging of the Transport Laws and Related Matters Amendment Act
MTN South Africa is under severe pressure, the telecommunications group’s full-year results for the year ended 31 December 2013 show. Revenue declined by 6,1%, with downward pressure on margins. Although the group’s South African operation showed “signed of improved performance” in the second half
