Vodacom Group’s latest trading update, for the quarter ended December 2018, makes for sobering reading, particularly for those invested in the telecommunications sector.
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The weak South African economy, coupled with consumers “optimising” promotional data, has led to a surprise decline in Vodacom’s service revenue in the quarter ended 31 December 2019.
Vodacom Group fell the most in more than two months after it reported falling sales in South Africa, where a slower than expected economic recovery dampened consumer spending.
WorldRemit, a UK company that specialises in money transfers into Africa, plans a new funding round in the next six months ahead of a potential initial public offering or buyout.
Communications minister Stella Ndabeni-Abrahams appears to have deleted a tweet in which she told Vodacom to “shut up”, accusing the mobile operator of a “poor PR stunt” related to its “settlement” with former employee Nkosana Makate.
Watch out, SuperSport! Vodacom, through its entertainment-streaming platform Video Play, has secured the rights to live-stream the 2018/2019 FA Cup football tournament.
In the podcast this week, Duncan McLeod and Regardt van der Berg chat about the “settlement” between Vodacom and Nkosana Makate, the operator’s former employee who claims to have invented the “please call me” service.
The former Vodacom employee who claims to have come up with the idea for the “please call me” service has rejected a settlement tabled by the operator’s CEO, Shameel Joosub, describing the amount offered as “shocking and an insult”.
Communications regulator Icasa will hold public hearings later this month to determine what its role should be in regulating cybersecurity in South Africa.
Altron’s continued turnaround, under the leadership of CEO Mteto Nyati, delivered the best performance among technology shares listed on the JSE in 2018, TechCentral’s annual review of the sector shows.