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28/11/2022

Twitter CEO Elon Musk says new user signups to the social media platform are at an “all-time high”, as he struggles with a mass exodus of advertisers and users fleeing to other platforms over concerns about verification and hate speech.

Signups were averaging over two million per day in the last seven days as of November 16, up 66% compared to the same week in 2021, Musk said in a tweet late on Saturday.

He also said that user active minutes were at a record high, averaging nearly 8 billion active minutes per day in the last seven days as of November 15, an increase of 30% in comparison to the same week last year. Hate speech impersonations decreased as of November 13 compared to October of last year.

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28/11/2022

MoMo Payment Service Bank has launched a bill payment options for its users.

According to the firm, this option will allow users access to an inexpensive way to purchase prepaid electricity units, renew cable TV, betting, and loan collection bills to specific vendors.

The firm stated this in a statement. It said, “The goal of MoMo Bill Payment is to improve financial inclusion by providing an easy way for people to move money, access financial information, and make bill payments.

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28/11/2022

The Securities and Exchange Commission says it will not be considering cryptocurrencies in its push for digital assets.

The commission in February 2021 suspended the approval of cryptocurrencies and related products and warned the investing public against crypto and crowdfunding platforms.

Despite the ban, Nigerians continued to show interest in the crypto market. In May 2022, it released guidelines on the issuance and custody of digital assets in the country, a move seen as supporting the adoption of crypto.

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25/11/2022

Uber Eats advertisement has been deemed misleading by The Advertising Regulatory Board (ARB) in terms of the Code of Advertising Practice.

According to the ARB report, Rina Hartzenberg brought the advertisement to the regulator, which she believes suggests that Uber Eats customers can order from multiple restaurants at once.

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25/11/2022

Twitter’s billionaire owner Elon Musk announced Friday that the platform would be launching differently colored badges to distinguish between accounts.

“Sorry for the delay, we’re tentatively launching Verified on Friday next week,” he tweeted.

“Gold check for companies, grey check for government, blue for individuals (celebrity or not) and all verified accounts will be manually authenticated before check activates.”

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25/11/2022

Thousands of Amazon warehouse workers across about 40 countries plan to take part in protests and walkouts to coincide with Black Friday sales, one of the busiest days of the year for online shopping.

Employees in the US, UK, India, Japan, Australia, South Africa and across Europe are demanding better wages and working conditions as the cost-of-living crisis deepens, in a campaign dubbed “make Amazon pay”. The campaign is being coordinated by an international coalition of trade unions, with the support of environmental and civil society groups.

“It’s time for the tech giant to cease their awful, unsafe practices immediately, respect the law and negotiate with the workers who want to make their jobs better,” said Christy Hoffman, general secretary for UNI Global Union, one of the campaign’s organizers.

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24/11/2022

The Airline Operators of Nigeria has expressed displeasure about the numerous issues in the aviation industry, adding that the Federal Airports Authority of Nigeria is responsible for the flight delays and cancellations.

They said the inadequacy of critical infrastructure at the airport is responsible for the numerous flight delays in the country.

This was disclosed at a press conference on Wednesday in Abuja.

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24/11/2022

Amazon plans to spend more than $1 billion (R16.94 billion) a year to produce movies that it will release in theatres, according to people familiar with the company’s plans, the largest commitment to cinemas by an internet company.

The world’s largest online retailer aims to make between 12 and 15 movies annually that will get a theatrical release, said the people, who asked not to be identified because the company is still sorting through its strategy.

Amazon will release a smaller number of films in theatres next year and increase its output over time. That number of releases puts it on par with major studios such as Paramount Pictures.

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24/11/2022

Mr. Price has released its interim results and reports that its telecoms segment generated R570 million in revenue during the 26 weeks from 2 April to 1 October 2022.

The company said that this is a 9.2% increase in revenue.

It also noted that its telecoms segment now contributes 3.9% to all retail sales.

Mr Price said cellular merchandise and data is now available in 683 stores across the group.

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24/11/2022

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22/11/2022

Eskom has announced a reduction in the load-shedding stages it plans to implement in the coming week.

According to a statement on Sunday afternoon, the utility initially planned to implement stage 5 load-shedding during the evenings from 16:00 to midnight until Wednesday.

This will now be reduced to stage 4 load-shedding, which will run until 05:00 daily.

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22/11/2022

TikTok now being referred to as a Chinese surveillance too by Two Senators in the US is being weighed by Biden’s administration on letting the video sharing app keep operating in the US after being issued a bipartisan warning

“It’s not just the content you upload to TikTok but all the data on your phone, other apps, all your personal information, even facial imagery, even where your eyes are looking on your phone,” Arkansas Republican Tom Cotton said on “Fox News Sunday.”

TikTok is “one of the most massive surveillance programs ever, especially on America’s young people,” he said.

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22/11/2022

Muibi Kehinde is the founder and CEO of MKH Investments, a real estate development company driven by its goal of creating sustainable real estate opportunities in Nigeria.

In an exclusive interview, Muibi Kehinde shares his journey into Real estate, how his company has fared since inception and his future expectations for MKH Investments.

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11/11/2022

Amazon, Ecommerce Giant has developed a robot capable of identifying and handling individual items, a milestone in the e-commerce giant’s efforts to reduce its reliance on the human order pickers who currently play a key role in getting products from warehouse shelves to customers’ doorsteps.

The robotic arm, tipped by a set of retractable suction devices, is called Sparrow.

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11/11/2022

Elon Musk, in his first address to Twitter Inc. employees since purchasing the company for $44 billion, said that bankruptcy was a possibility if it doesn’t start generating more cash, according to people familiar with the matter.

The warning came amid a tumultuous start to Musk’s reign at the social media company a two week period in which he has fired half of Twitter’s staff, ushered out most of the top executives and ordered the remaining employees to stop working from home.

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11/11/2022

MTN and South African Revenue Services (SARS) are battling a case where the mobile network operator demands clarity about how VAT should apply to airtime vouchers according to PricewaterhouseCoopers (PWC)

Currently, SARS demands that operators collect South Africa’s 15% VAT from airtime voucher purchases at the point of sale.

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10/11/2022

Adidas on Tuesday named Bjorn Gulden, chief of rival outfitter Puma, as its new CEO as the German sportswear giant seeks to emerge from months of turbulence.

The Norwegian former professional football and handball player will take on the role from January next year, replacing current CEO Kasper Rorsted.

He faces big challenges at Adidas, which has seen sales hit by coronavirus restrictions in key market China, and recently ended a profitable partnership with rapper Kanye West over his anti-Semitic outbursts.

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10/11/2022

The expiration of Telkom’s contract to supply IT services to the South African Post Office (SAPO) could affect the provision of social grants to millions of South Africans.

While reports over the weekend said Telkom threatened to cancel its IT services to SAPO due to R225 million debt that SAPO owes it, the 40.5% state-owned telecommunications company said it was because a contract between the two was expiring.

The Sunday times reported over the weekend that Telkom threatened to terminate its service to SAPO over the debt. Approached by News24 for comment on Monday, SAPO spokesperson Johan Kruger said the entity “does not comment on active contracts”.

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10/11/2022

After a train carrying export coal to Richards Bay was derailed near Ulundi on Tuesday, Transnet said it would meet with traditional leaders in the area as it is extremely concerned about disruptions to its operations.

“Transnet Freight Rail will over the next few days be engaging with amakhosi and the South African Police Service to resolve threats to the organisation as well as disruptions to its operations along the North Corridor this past week,” the rail utility said in a statement.

Earlier on Tuesday, Transnet reported that a train carrying export coal to Richards Bay derailed outside iNtshamanzi, near Ulundi. The cause of the incident is under investigation.

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07/11/2022

Finance Minister Enoch Godongwana and Public Enterprises Minister Pravin Gordhan met with World Bank president David Malpass on Saturday to finalise funding to convert the recently decommissioned Komati coal power station in Mpumalanga into a renewable power station.

With the R9 billion concessional loan in place, Komati is set to become the first major coal power station in the country to be converted into a renewable station with 150MW of solar, 70MW of wind, and 150MW of storage batteries.

Komati’s decommissioning was announced at the end of October after the station reached the end of its life, after being in operation since 1961.

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07/11/2022

Former Twitter CEO Jack Dorsey said he regrets growing the company too quickly as the social media platform downsizes following its recent sale to Elon Musk.

Musk on Thursday and Friday slashed over half the staff, affecting almost every team at the company. The cuts, expected to involve about 3 700 jobs, have fueled questions about whether Twitter will have the resources to keep crucial systems running effectively, including during the United States midterm elections on Tuesday.

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07/11/2022

Facebook-parent Meta will become the latest tech firm to scale back its workforce, with plans to layoff thousands of employees this week, US media reported Sunday.

The Wall Street Journal, citing people familiar with the matter, reported that the layoffs could impact “many thousands” of Meta employees and that an announcement was expected as soon as Wednesday.

As of September 30, Meta had about 87,000 employees worldwide across its different platforms, which include social media sites Facebook and Instagram as well as messaging platform Whatsapp.

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04/11/2022

Elon Musk, Twitter’s new boss plans to make the ability to edit tweets free for all its users, Platformer’s Casey Newton reports.

Newton has learnt that this is one of the other significant changes the “Chief Twit” has demanded staff make to the social media platform’s functionalities.

The highly-demanded feature is currently only available in the United States, Canada, Australia, and New Zealand, and only to those who pay for a Twitter Blue subscription.

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04/11/2022

The Central Bank of Nigeria on the 26th of October, 2022 announced its intentions of redesigning Naira notes consisting of the ₦200,₦500 and ₦1,000 respectively

An announcement which was made by the CBN Governor, Godwin Emefiele who also indicated that the Naira notes will begin circulation from the 15thb of December 2022 which will be used with the existing notes until it’s deadline which as fixed for 31st of January 2023 by the CBN.

The new development has sparked a few questions like why now? What does this mean for the country’s economy?, What does this mean for entrepreneurs?

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04/11/2022

MTN South Africa has published its quarterly trading update for the three months ended September 2022, revealing that service revenue grew by just 2.2% year-on-year in South Africa.

For the third quarter of 2022 (Q3 2022), MTN South Africa reported service revenue of R10.15 billion, slightly better than the R9.93 billion in the third quarter of 2021 (Q3 2021).

MTN attributed the relatively muted service revenue growth to trading environment pressures and load-shedding.

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02/11/2022

MTN’s Mobile Money (MoMo) service in Ghana is taking a hit from the introduction of a levy on electronic transfers which came into effect in May, with revenue from person-to-person (P2P) transactions slipping by double digits in the mobile operator’s nine months to end September.

Ghana’s government has imposed a 1.5% levy on the value of all electronic transfers, including banks, specialised deposit-taking institutions, payment service providers and electronic money issuers, as a means to earn revenue from digital services. The levy is in addition to other applicable charges.

The operator said revenue from P2P transactions declined by 13.3% year-on-year in the three quarters to end September, with the contribution of MoMo to service revenue falling to 19.1% from 22.8% previously. The firm also took a decision to reduce P2P transaction fees by 25% to cushion the effect on its customers.

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02/11/2022

Shares of Uber rocketed higher Tuesday after it reported a surge in quarterly revenue and described consumer demand as remaining robust.

The ride-hailing service scored a 72 percent jump in third-quarter revenues to $8.3 billion, thanks in part to the benefit of an acquisition in Uber’s freight business.

The company reported a $1.2 billion loss, citing a hit to Uber’s equity investments and the effect of stock-based compensation expense.

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02/11/2022

Amazon.com Inc. shares fell on Tuesday, with the e-commerce and cloud-computing company closing below $1 trillion in market value for the first time since the early days of the Covid-19 pandemic more than two years ago.

The stock fell 5.5% to end at $96.79, representing a market capitalization of $987.4 billion.

Shares closed at their lowest level since April 2020, and have dropped 42% this year. At its Nov. 18 peak, Amazon boasted a market cap of nearly $1.9 trillion.

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01/11/2022

Elon Musk consolidated his control of Twitter Inc. on Monday after the entire board was dismissed.

Musk, 51, completed his purchase of Twitter last week for $44 billion and immediately started molding the company to his liking.

One of the first steps he took was to fire four of the most senior executives of the company, including Parag Agrawal, the chief executive officer.

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01/11/2022

MTN Group Ltd. asked the Nigerian government to reverse a directive cancelling an increase in telecom tariffs implemented by operators last month, citing rising costs in the industry.

The local unit of Africa’s largest wireless carrier, the Lagos-listed MTN Nigeria Communications Plc, is engaging with the industry regulator to push through the price increase, Chief Executive Officer Karl Toriola said on an investor call on Monday.

The Nigerian Communications Commission this month ordered mobile companies to reverse the 10% tariff hike, citing the non-approval of its board.

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01/11/2022

Pick n Pay has expanded its Bitcoin payments trial to 39 stores across South Africa’s major cities, the retailer has announced. It plans to roll out to all its stores in the coming months.

“While for many years crypto was something for specialists on their computers, or used by early adopters trying it out, things are changing,” Pick n Pay stated.

According to the retail giant, the Financial Sector Conduct Authority’s recent declaration of cryptocurrency as a financial product paves the way for cryptocurrency as a mainstream payment method.

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31/10/2022

Elon Musk has begun laying the groundwork for a round of layoffs at Twitter days after taking ownership of the social media platform.

The billionaire entrepreneur, who completed his $44 billion acquisition Thursday, has asked managers to draw up lists of team members who could be let go, according to a person with knowledge of the matter. The person asked not to be identified discussing private conversations.

Headcount reduction could commence as early as Saturday, the New York Times reported earlier. A representative of San Francisco-based Twitter didn’t immediately respond to a request for comment Saturday.

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31/10/2022

The network operator commercially launched its 5G network last week in partnership with Huawei at a glitzy event in Johannesburg’s Wanderers cricket stadium.

Telkom consumer business CEO Lunga Siyo announced that they had 123 active 5G sites on the network and would focus on fixed wireless access products at launch.

Telkom’s mobile network managing executive, Lebo Masalesa, said they have already started testing mobile 5G.

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31/10/2022

A meeting was held among members of the South African intelligence and its American counterparts hours before the US embassy issued a statement warning of a possible terror attack in South Africa.

According to reports from Insiders, the meeting comprised of SSA and CIA and members and the parties clashed over the lack of information the US was willing to provide about the possible event.

It was confirmed by the US intelligence officials that the target of the possible terrorist attack was the annual Johannesburg Pride march, but gave no further information to make this intelligence convincing.

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28/10/2022

Apple Inc. was alone among the world’s top five smartphone vendors to register growth in the third quarter this year as the mobile market suffered a double-digit decline.

Global leader Samsung Electronics Co. slumped 8% to 64 million units in the three months ended September, while Chinese vendors Oppo and Vivo were each down at least 20%, according to the latest data from Canalys and Counterpoint researchers.

Weak demand in China, which Samsung called out as a major drag on its sales of phone components this week, has weighed on the industry this year.

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28/10/2022

Elon Musk completed his $44-billion (R789.4-billion) acquisition of Twitter Inc., according to people familiar with the matter, putting the world’s richest man in charge of the struggling social network after six months of public and legal wrangling over the deal.

Among Musk’s first moves: changing the leadership.

Departures include Twitter Chief Executive Officer Parag Agrawal; Vijaya Gadde, the head of legal, policy and trust; Chief Financial Officer Ned Segal, who joined Twitter in 2017; and Sean Edgett, who has been general counsel at Twitter since 2012, according to people familiar with the matter

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28/10/2022

Blue Label co-CEO Brett Levy told investors Thursday that Cell C will not engage in a price war with MTN, Vodacom, and Telkom’s mobile division.

“We are not getting into any dogfights. We are not getting into any war with any networks,” Levy stated.

“Our price is very competitive as it is,” he asserted.

Responding to questions, Levy also said that Blue Label’s board is considering buying the remaining 50.47% of Cell C.

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27/10/2022

Transnet, State-owned logistics company is to receive its first cash injection from the fiscus in decades as it battles to recover from flood damage and a shortage of locomotives due to contractual problems with manufacturers.

Finance Minister Enoch Godongwana announced R5.8 billion of support for Transnet in the Medium-term Budget Policy Statement. The money is allocated specifically for repairing infrastructure damaged by the recent floods (R2.9 billion) and R2.9 billion to procure spare parts and new locomotives from China’s CRRC Corporation.

Transnet has been in dispute with CRRC for several years after it terminated an extensive procurement programme for new locomotives mid-stream, as the contracts were tainted by corruption. In response, CRRC refused to supply the locomotives that had been procured with spare parts.

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