The Public Investment Corporation (PIC) is to sink US$1bn into African investments and equities, according to finance minister Nhlanhla Nene. “The PIC will, in the new financial year, also focus on developmental investments in Africa, with a
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The Movement for Transformation in Media in South Africa called for a probe on Monday into the transformation of Times Media Group. “We have seen a concerted effort by the largely white-owned and -run media houses, in this case specifically the TMG, to discredit black business
A shake-up of the telecommunications landscape in Africa may be in the offing after US giant AT&T said in an interview with Bloomberg that it was interested in acquiring UK-listed Vodafone. AT&T said, though, that it was not interested in acquiring Vodafone’s operations in emerging markets, but only its
Search giant Google is to invest US$12m (R120m) in the Jasper Power Project, a 96MW solar photovoltaic plant in South Africa’s arid Northern Cape province. When completed, Jasper will generate enough electricity to power 30 000 homes and will be one of the largest solar installations in Africa. Google has committed
Altron’s offer to buy out minority shareholders in subsidiary Altech and delist the technology and telecommunications company from the JSE is fair, analysts says. Last Friday, Altron made the offer, its second in six years. Both Altech and Altron are listed entities. The move sent
The performance of IT services group Bytes was the only bright spot in an otherwise poor set of annual financial results from JSE-listed conglomerate Altron, whose numbers were dragged down by subsidiaries Altech and Powertech. Group headline earnings per
Altron and its subsidiary Altech are still engaged in talks, the outcome of which could have a material effect on the share prices of the two JSE-listed groups. Though neither has said what the discussions are about, it’s widely speculated that Altron is preparing to make an offer to minority shareholders in Altech
Altron and subsidiary Altech both cautioned their shareholders within moments of one another on Friday that they were in talks that could have an impact on the share prices of the two companies. The move has ignited speculation that Altron could have another go at delisting Altech, which
Communications minister Dina Pule is “confident” that the board of Telkom will “help the state achieve its developmental goals” while ensuring that the telecommunications group remains “commercially sustainable”. Pule made the remarks in a written statement following her first meeting with Telkom’s board
The government’s decision in August to retain two Telkom directors who small institutional investors wanted removed and vote off four independent investors has led to speculation that the purge of the board was driven by a long-term plan for the company