Latest news with #NqobileDludla
The Star
13 hours ago
- Business
- The Star
Shoprite's Checkers trials high-tech shopping trolleys in South Africa
A Checkers smart trolley, called the Xpress Trolley, in Cape Town, South Africa, April 24, 2025. Checkers shoppers may soon use the "smart" trolley, which tracks a running total and allows payment directly on the trolley, Shoprite said on Tuesday. Checkers/Handout via REUTERS JOHANNESBURG (Reuters) -Shoppers at Checkers supermarkets in South Africa could soon be cruising the aisles with "smart" trolleys that let them know how much money they are spending and include in-built payment terminals, the chain's owner Shoprite said. Similar high-tech shopping trolleys have been rolled out or piloted in other countries including Chile via Walmart, and the U.S. and Australia through Coles, but this is the first time they are being trialled in South Africa. The pilot comes as Shoprite's upscale Checkers chain ramps up its challenge to Woolworths for South Africa's mid-to-affluent consumers in the lucrative upmarket retail space. The two retailers have been investing heavily in sleek store designs, cutting-edge retail technology and premium product lines. Following initial testing by office employees at a Checkers supermarket in Cape Town from mid-August, 20 of the new trolleys will be made available to customers at two of the chain's stores, Shoprite said in a statement on Wednesday, without saying how much it had invested. Called the Xpress Trolley, the shopping cart lets shoppers scan items as they go, track a running total on a digital screen and pay directly on the trolley without needing to queue at a check-out. The screen also assists with in-store navigation. Shoprite said the trial was part of its strategy "to become South Africa's most profitable and seamless omnichannel retailer". (Reporting by Nqobile Dludla;Editing by Helen Popper)
Time of India
2 days ago
- Business
- Time of India
South Africa's MTN swings to first-half profit, raises guidance
By Nqobile Dludla JOHANNESBURG: Africa's biggest telecoms operator MTN Group swung to a half-year profit, it said on Monday, as macroeconomic conditions, inflation and foreign exchange rates in key markets showed improved stability. South Africa-headquartered MTN reported headline earnings per share of 645 cents in the six months to June 30, compared to a headline loss of 256 cents a year earlier. Earnings before interest, tax, depreciation and amortization (EBITDA) margins expanded by 7.1 percentage point to 44.2%, driving EBITDA growth of 42.3% in constant currency to 46.7 billion rand ($2.65 billion). Group service revenue grew by 23.2% to 105.1 billion rand as data and fintech revenues increased by 36.5% and 37.3%, respectively. The Nigerian naira, which had decimated its largest unit's profit in the previous year, exhibited greater stability against the U.S. dollar in the first half. Ghana's cedi, meanwhile, strengthened year-to-date against the rand and the U.S. dollar, Group CEO Ralph Mupita said. The approval of price adjustments in Nigeria, which were phased in during the reporting period, largely benefiting the second quarter, boosted MTN Nigeria and the group's service revenue growth . MTN South Africa continued to navigate competitive pressures in its prepaid segment and reported service revenue growth of 2.3%. The operator also raised its medium-term guidance for group service revenue growth to a percentage in at least the high-teens from at least the mid-teens.
Time of India
10-06-2025
- Business
- Time of India
South Africa's Telkom resumes dividends as earnings jump 62.3%
By Nqobile Dludla JOHANNESBURG: South African telecommunication firm Telkom reported on Tuesday a 62.3% rise in full-year earnings and resumed dividends after a four-year suspension, declaring also a special dividend of 98 cents per share. In 2020, the operator of South Africa's biggest fixed-line network announced the suspension of dividends for the next three financial years starting in 2021 to conserve cash for spectrum auctions and strengthen its financial position. However, after reaching the initial target, the under-pressure operator delayed resuming dividend payments as it faced challenging market conditions. "This year's robust performance and strategic execution allow us to share the fruits of our success with shareholders by distributing both an ordinary and a special dividend. In total, the group will return 1.3 billion rand ($73.28 million) to its shareholders," Telkom said in a statement. Telkom, majority-owned by the government, said its headline earnings per share for continuing operations rose to 467.5 cents in the year ended March 31, up from 288.1 cents a year earlier. Telkom - which owns a big chunk of the fast growing home and business fibre market - declared a final dividend of 163 cents per share. Revenue increased by 3.3% to 43.8 billion rand, surpassing expectations due to strong growth in mobile service revenue, which rose 10.2%, and fibre-related data revenue, up 10%. Analysts surveyed by LSEG had forecasted revenue of 43.5 billion rand. Group adjusted earnings before interest, tax, depreciation and amortization (EBITDA) jumped by 25.1% to 11.7 billion rand, while the EBITDA margin expanded by 4.7 percentage points to 26.9% due to cost-optimization initiatives.
Yahoo
05-06-2025
- Automotive
- Yahoo
China's BYD to nearly triple South Africa dealers' network by next year
By Nqobile Dludla JOHANNESBURG (Reuters) -Chinese electric-vehicle giant BYD plans to nearly triple its dealership network in South Africa by next year as it looks to grow its market share in the country, a senior executive told Reuters. BYD's move comes at a time of growing competition in Africa's largest automotive market, where sales of new energy vehicles are rising and other Chinese companies - such as GAC, Chery and GWM - are also making inroads. Launched in 2023, with its BYD battery electric ATTO 3 vehicle, the automaker has about 13 dealerships. "By the end of the year, we will have about 20 dealerships around the country. The aim is to expand that to about 30, 35 the next year," Steve Chang, General Manager of BYD Auto South Africa told Reuters in an interview on Wednesday. BYD currently offers six models in the South African market, with its plug-in hybrid Shark pick-up, hybrid SEALION 6, and pure electric SEALION 7 SUV models launched in April, completing its hybrid and electric dual-powertrain strategy. The dealership expansion will help BYD become a fairly known brand and capture more buyers across a country that is slowly transitioning to electrified vehicles. In 2024, sales of new energy vehicles - a term that describes battery-powered fully electric vehicles and plug-in hybrid cars - rose to 15,611 units from 7,782 units in 2023, according to data from automotive industry body NAAMSA. While the share of NEVs to total car sales is still low, BYD is hoping to capture the market early on, in preparation for a meaningful transition, Chang said. "We want to educate and cultivate the market of South Africa and make sure that the South African consumers can catch up with the rest of the world," Chang added. The uptake of electric vehicles and investment in Africa is quite slow relative to emerging market peers due to limited charging infrastructure, unstable power supply and high import duties compared to fossil-fuelled cars. But BYD sees potential. "South Africa is actually one of the most important automotive markets in the southern Hemisphere. It's probably the biggest market in all of Africa, so it's a market that we have to look at and see how we can develop the market," Chang said.
Time of India
19-05-2025
- Business
- Time of India
Vodacom pursuing joint fibre ventures in Africa broadband push
By Nqobile Dludla JOHANNESBURG: Vodacom Group is pursuing partnerships for joint fibre ventures as Africa's second largest mobile operator looks to accelerate the roll out of high-speed broadband coverage across its markets. With the voice market slowing in parts of the continent including South Africa, telecom companies such as Vodacom and rivals MTN and Airtel Africa have doubled down on high-speed internet, an area long dominated by fibre companies such as Maziv-owned Dark Fibre Africa and Vumatel in South Africa. Vodacom wants to merge with Maziv but the deal has been prohibited by South Africa's competition authorities. Asked what will happen if its appeal with the Competition Appeal Court fails, Vodacom Group CEO Shameel Joosub said on a call with journalists that since funding for the proposed deal is still in the bank, the operator has "opportunities" to look at where else it could invest the money. "We will pursue fibre joint ventures in all our markets," Joosub said, adding that Vodacom had already set up a new entity in Tanzania and was working on fibre in Mozambique. "We're looking at different opportunities and different share the same ambition of wanting to make sure that we can provide connectivity," he added. The ideal joint venture structure for Vodacom would be a 50-50 split with Vodacom not concerned about controlling any vehicle, Joosub said. Rolling out fibre organically is a slow and costly expansion option at a time when mobile operators need to make up ground on existing fibre networks. Homes and businesses connected by Vodacom reached 198,000 in the year ended March 31, while its own fibre passed almost 166,000 homes and businesses. Vodacom, majority-owned by UK-based Vodafone, has 211.3 million mobile network customers across eight African countries. It is also partnering with satellite providers, including Amazon's Project Kuiper. Joosub said Vodacom could also potentially partner with Elon Musk's Starlink as "satellite is a necessary part of being able to expand coverage to everyone".
