Mobius Motors Secures an Acquisition Deal Days After Announcing its Shutdown
The Kenya-based automaker, Mobius Motors secures a 100% acquisition deal days after announcing its shutdown. In a notice, Mobius Motors director Nicolas Guibert announced that on August 14, the company accepted a bid for a 100% acquisition, although the buyer’s identity remains undisclosed. The transaction is expected to be completed
South Africa Publishes an AI Policy Framework
Department of Communications and Digital Technologies in South Africa publishes a AI policy framework. The formal consultation process is expected to wrap up by the end of September 2024, with the department accepting feedback on the framework via email. The document stresses that to fully harness AI’s potential, the country
Competition Commission South Africa: What is It?
The Competition Commission South Africa (CCSA) plays a crucial role in fostering economic growth and ensuring that markets operate fairly and efficiently. Established in 1999 as a part of the broader competition law framework. The CCSA is responsible for promoting and maintaining competition in South Africa’s markets. Its primary objective
South African Competition Commission Okays Octotel Deal
South African Competition Commission okays Octotel deal. The commission has given conditional approval for the deal for a consortium led by African Infrastructure Investment Managers, comprising STOA and Thebe Investment Corporation, to acquire Octotel from Actis, a UK-based investment firm. The deal follows a significant expansion of the Octotel since Actis
MultiChoice Arrests Two Suspects in Piracy Crackdown in South Africa
MultiChoice arrests two suspects in piracy crackdown in Cape Town, South Africa. This is following a successful raid by MultiChoice Group and the Milnerton police on another alleged piracy ring. According to the group, this development forms part of its broader anti-piracy strategy, which has led to successful raids in
Telcos in Nigeria Mull Partial Service to Support Tariff Hike Push
TTelcos in Nigeria mull partial service to support tariff hike push. This is to manage their services while pushing for tariff hikes due to mounting financial pressures. At an event tagged ‘’Telecom Industry 2.0: The Next Investment Frontier in Nigeria.’’, Engr. Gbenga Adebayo, Chairman of the Association of Licensed Telecoms Operators of
MTN and IHS Towers Resumes Negotiations on Governance Issues
MTN and IHS Towers resumes negotiations on governance issues. This follows the renewal of tower leases covering 26,000 sites across six African markets. MTN CEO Ralph Mupita stated that the renewal of these contracts places MTN’s operations in the respective markets on a more sustainable footing. He added, “We look
Wendy Ackerman: Non-Executive Director of Pick n Pay Holdings Limited
Wendy Ackerman is the co-founder and Executive Director of Pick n Pay Stores. Wendy and her late husband Raymond are the power couple behind one of South Africa’s pre-eminent FMCG retailers, Pick n Pay, which has over 450 stores throughout South Africa, southern Africa and Australia. Alongside raising her family,
Uber Announces Results for Second Quarter 2024
Uber announces results for second quarter 2024, operating in 61 cities across seven countries in sub-Saharan Africa. They saw a 19% YoY increase in gross bookings, reaching $40.0 billion in Q2 2024, globally. Mobility bookings rose 23% YoY to $20.6 billion, while delivery bookings grew 16% to $18.1 billion. Trips
Kenyan Gig Drivers Defy e-hailing Apps, Set New Rates Amid Fare Dispute
Kenyan Gig drivers defy e-hailing apps, set new rates amid fare dispute. They’re refusing to carry passengers, resisting the newly imposed rates. With this development, the drivers expect ride-hailing companies will be compelled to review current rates, beginning with raising the minimum fare from KSh180 ($1.40) to KSh300 ($2.33). This
