Latest news with #SfundoParakozov
The Star
05-08-2025
- Business
- The Star
South Africa's Telkom profit rises on subscriber growth and fibre services
FILE PHOTO: Shoppers walk past a branch of South Africa's mobile operator, Telkom, in Johannesburg, South Africa, April 17,2025. REUTERS/Siphiwe Sibeko/File Photo JOHANNESBURG (Reuters) -South Africa's Telkom reported a 6.5% rise in quarterly core profit on Tuesday, helped by subscriber growth and increased use of its "next-generation network" (NGN) offerings as it ditched legacy services. Earnings before interest, tax, depreciation and amortisation (EBITDA), came in at 2.8 billion rand ($155.62 million) in the first quarter ended June 30, South Africa's third-largest telecom company said in a statement. Overall group revenue rose 1.1% to 10.82 billion rand with mobile service revenue and Openserve's fibre data revenue up 7.8% and 11.3%, respectively. Telkom said mobile data subscribers surged 27.5% to 17.2 million, while there was a 17.5% increase in the number of homes connected with fibre. The majority state-owned company has been investing in migrating customers away from copper-based technology to offerings such as fibre and long-term evolution - a 4G wireless standard - as customers seek faster internet services. ($1 = 17.9928 rand) (Reporting by Sfundo Parakozov;Editing by Kirsten Donovan)
Zawya
30-05-2025
- Business
- Zawya
Mozambique central bank cuts main interest rate to 11%
Mozambique's central bank cut its main interest rate to 11.00% from 11.75% in a decision announced on Friday. The Bank of Mozambique has now lowered its main lending rate for nine policy meetings in a row. The Southern African country's annual inflation rate slowed to 3.99% in April from 4.77% in March, reversing a trend where inflation had been on the rise since October's disputed election. (Reporting by Custodio Cossa; Writing by Sfundo Parakozov; Editing by Alison Williams and Joe Bavier)
Zawya
05-05-2025
- Business
- Zawya
South Africa records budget deficit of $704mln in March
South Africa recorded a budget deficit of R13.11bn ($704m) in March 2025. This is compared with a surplus of R3.36bn in the same month last year, National Treasury data showed on Wednesday, 7 May 2025. All rights reserved. © 2022. Provided by SyndiGate Media Inc. ( Sfundo Parakozov
