Thursday, 09 February 2017
Nigerian Fine Continues To Haunt MTN Group As It Expects To Report Significant Losses For The 2016 Financial Year
Credit: MTN Group
MTN Group released a statement saying that it expects to report a loss on HEPS (Headline Earnings Per Share) for the 2016 financial year due, significantly, to the regulatory fine imposed on it in Nigeria. “Shareholders are therefore advised that MTN expects to report negative basic headline earnings per share (HEPS) and basic earnings per share (EPS) for HY2016. In the prior year comparable period MTN reported HEPS of 654 cents and EPS of 653 cents.” MTN Group said in the statement. MTN Group agreed that its Nigerian subsidiary, KMTN Nigeria, will pay Nigerian authorities $1.05bnfine for missing a deadline to cut off unregistered SIM cards from its network. With this announcement shares in MTN Group on the Johannesburg Stock Exchange fell more than 4 percent at market open today and went on to reach lowest levels since December 2016 during the day.
UberCHOMA Launched In Kenya With Free Nyama Choma Deliveries On Friday
Uber have announced free nyama choma (grilled / roast meat meals) deliveries for anyone who is successful with their #UberCHOMA request between 12pm (noon) and 14h00 on Friday 10 February) in Nairobi’s Westlands and Town areas. The promotion, or rather what seems to be an “experiment” is in partnership with “Roast by Carnivore”. We say this is likely an experiment as Uber have already launched UberEATS in Johannesburg and Cape Town (South Africa) and are likely looking to either test demand for food delivery or onboard potential customers for food delivery services in Nairobi. But then again, what do we know, we are mere mortals and not soothsayers. Nom nom nom.
Millicom To Sell Tigo Business In Senegal To Wari Group For $129 Million
Millicom have announced that they have signed an agreement to sell their Tigo business in Senegal to Wari Group for USD 129 million. Wari Group, based in Senegal, operates a platform for digital financial services in Africa and is expected to build on the Tigo Money service to expand its business. In 2016 Millicom sold its activities in the Democratic Republic of Congo to Orange, and recent reports suggest it's also considering the sale of its Tigo Ghanabusiness. Tigo Senegal had 3.55 million mobile customers as of September 2016. Its share is still less than half of incumbent Orange, which dominates the mobile market with a 55 percent share. Based in Senegal, Wari is a digital platform specialising in money transfer and bill payment services. The platform counts over 1,000 partners and its services are available in over 60 countries, with 45,000 paying points across Africa.
Echo Mobile's Smart Matatu App Enables Commuters To Report Instances Of Bad Driving In Real Time
Echo Mobile, a Nairobi-based technology firm, is seeking to confront this problem through a mobile app dubbed 'Smart Matatu', which is designed to enhance the passengers' involvement in safety measures in order to curb misconduct by matatu drivers. The mobile app was developed at the University of California Berkeley in collaboration with the University of Nairobi, and is currently undergoing a pilot on the Rongai and Kibera matatu routes, which have seen quite a number of incidents, including one where four people lost their lives and six were injured in September of 2016. So far, the response has been overwhelmingly positive, especially from the cooperative societies (SACCOs) that the matatu owners belong to. The app includes a feature where the owners are able to monitor the operations of their vehicles remotely.
Linda Khumalo, Chairperson of the South African Digital Content Organisation explains briefly what the fourth industrial revolution is all about. Linda also takes us on a short history of the previous three industrial revolutions dating back to the 1800s.