Image sourced from Town Press Cell C has released its interim results for the six months to June 2020. This inside look at the telco shows that it made a R7.5 billion net loss after tax. This loss, according to a report by My Broadband, was due to a number of ‘once-off costs’, and also reflects impairments to the value of R5 billion. Normalised earnings showed a 64% improvement to R1.8-billion, reflecting the overall impact of the new management team’s strategic focus on optimising its network as well as its emphasis on more profitable customers. However, overall revenue was at R6.9-billion compared to the six months of the previous year (2019: R7.4-billion). More than 89% of its revenue comes from service revenue which was 6% lower at R6.5-billion, while hybrid and Fibre-to-Home saw an in...
Image sourced from Town Press As the fourth industrial revolution becomes reality on a global scale, the need for learners to master STEM (Science, Technology, Engineering and Mathematics) subjects has never been more important. According to STEMblogSA, this revolution will create more jobs than technology displaces, but STEM skills will be more critical than ever, given that between 65% and 85% of jobs that will exist in the future, currently do not exist. STEM subjects don’t just equip learners with know-how about how jobs in the future will work, it teaches them critical and creative thinking to navigate this space. In South Africa, the importance of STEM education is vital. The country lags behind a lot of other nations in the world in equipping its youth with STEM knowledge; in 2019, ...
Image sourced from Town Press Cell C has appointed David Shimkins to its board, as one of the shareholder representatives for Net1. Shimkins will replace Paul Edwards with immediate effect. In line with Cell C’s shareholder agreement, Net1 can appoint two directors to the board. The Net1 representatives will be Alex Smith and David Shimkins. Net1 recently made these changes to its board. Shimkins is said to be a highly proficient deal executive with a deep knowledge of debt and capital markets and experience across a variety of industry sectors. He is the founder of Nitinol Capital, a company that invests in and facilitates alternative debt and equity transactions. Prior to this, he was a partner at Calculus Capital and Capital Investment Advisory and also held positions at Grin...
Major telecommunications companies MTN, Cell C and rain have zero-rated the OLICO Maths Education Programme which provides puzzles and problem-solving activities, competitions, games and weekly challenges to keep learners busy, connected and engaged. This decision followed the closure of schools in the COVID-19 pandemic’s local lockdown restrictions, which compounded learning challenges even further for the notoriously under-resourced youth in some of South Africa’s largest townships. Launched in 2008, the OLICO Maths Education Programme has provided effective and increasingly popular after-school tutoring and training in Alexandra, Diepsloot, Bosmont, Dunoon and Heideveld, and partners using OLICO maths content are working in Soweto, Ivory Park, Khayelitsha, Gugulethu and deep-rural Easte...