FirstRand ups stake in Optasia in R1.5-billion deal

FirstRand ups stake in Optasia in R1.5-billion deal

Banking group FirstRand has increased its shareholding in JSE-listed fintech Optasia to 26.1% after acquiring an additional 6% stake in a deal worth about R1.48-billion. The banking group purchased 74.1 million ordinary shares at R20 each on 25 March from an entity owned by Bassim Haidar, Optasia’s founder and non-executive director. The transaction follows FirstRand’s…

Read More
Westcon-Comstor signs Infoblox distribution deal for southern Africa

Westcon-Comstor signs Infoblox distribution deal for southern Africa

Nickey Mannya, director for cyber security and next-generation solutions at Westcon-Comstor Southern Africa. Westcon-Comstor has signed a distribution agreement with Infoblox to extend its cyber security and networking offering in southern Africa. In a previous ITWeb article, Westcon-Comstor tabled its ambition to specialise in security as part of its growth strategy. The firm said it would…

Read More
Remgro cashes in from Vodacom-Maziv deal

Remgro cashes in from Vodacom-Maziv deal

The much-anticipated Vodacom-Maziv fibre deal successfully cleared critical regulatory approvals last year. Remgro reported a robust set of interim results for the six months ended 31 December, with headline earnings per share surging 38.5% to 931 cents and interim dividends increasing 80.2% to 173 cents per share. A key driver of this growth was Community…

Read More
Africa Needs to Fight for a Better Deal On World Trade Rules – It Should Lead the Charge On These 3 Priorities At This Week’s WTO Meeting

Africa Needs to Fight for a Better Deal On World Trade Rules – It Should Lead the Charge On These 3 Priorities At This Week’s WTO Meeting

African countries face many trade barriers today. Wealthier countries subsidise their farmers, making African agricultural exports less competitive. Global trade rules promise extra support but are rarely implemented. Many African countries also lack the infrastructure, funding or political will to build industries. This leaves them stuck exporting raw materials instead of higher-value finished goods. They…

Read More