Rain has taken the wraps off its new mobile offering, escalating the fight with bigger rivals Vodacom, MTN and Telkom.
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The wireless data provider is set to record more than R2-billion in full-year Ebitda, after IFRS 16 adjustments, shareholder ARC Investments said.
Rain, which provides wireless, data-only services, plans soon to launch a mobile service, one of its shareholders said.
Michael Jordaan, investor in wireless broadband upstart Rain, said on Tuesday that consolidation in South Africa’s telecoms market is inevitable.
Load shedding is proving to be a hugely expensive problem for South Africa’s mobile operators.
Telkom and Rain have walked away from a transaction that could have seen the JSE-listed operator buying the wireless broadband upstart.
Semiconductor giant Nvidia will launch its GeForce Now cloud gaming platform in South Africa in 2023 in a deal with Rain.
Following the collapse of discussions between MTN and Telkom, Rain said it remains engaged with Telkom about a possible deal.
Shares in Telkom plummeted more than 10% on Friday after a report suggested talks with rival MTN Group about a takeover had stalled.
Vodacom said on Wednesday that it has broken the 2Gbit/s barrier on its 5G network, achieving a transfer speed of 2.4Gbit/s.