South African Bitcoin Brothers’ investors accept R80 million payoff

Creditors of the collapsed Africrypt scheme have negotiated a $5 million (R80.7 million) payoff with an anonymous outside investor. Documents MyBroadband has seen indicate that the parties negotiated a successful compromise, accepted by both sides, which must now be made an order of the court. This is expected to happen at the end of January 2022. Africrypt was a cryptocurrency …

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How much South Africa’s top tech CEOs got paid — including one who earned R100 million

The best-paid tech executive in South Africa over the last year was Datatec CEO Jens Montanana, who earned R100 million in salary and bonuses. Two other executives — former MTN CEO Rob Shuter and Vodacom CEO Shameel Joosub — earned R74 million and R55 million, respectively. While many business leaders highlighted that these competitive salaries are required to keep top …

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Uber fined R5.3 million in Belgium

Uber has been ordered to pay a 300,000 euro (R5.35 million) penalty, adding to the challenge of a court-ordered partial shutdown imposed on its ride-hailing service in Brussels earlier this week. The Dutch-speaking Brussels Court of Appeal told two of the company’s units to pay 150,000 euros each when it backed a complaint by a Brussels taxi firm, according to …

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Takealot shrinks trading loss to R31 million

The Takealot Group grew revenues by 36% while decreasing trading losses to “near breakeven” of $2 million (R31 million), Naspers reported in its interim results for the six months to 30 September 2021. “This is an improvement of 67% (67%), driven by higher gross margins at Takealot.com’s general ecommerce platform and Superbalist, which improved trading profit margins by one percentage …

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Tesla Model 3 sold for R2.2 million

To call Elon Musk’s Tesla a success would be an understatement. In just over a decade, the Pretoria-born billionaire has pivoted the company to profitability and, what’s more, transformed the motoring industry. Not too long ago, the prospect of going electric would have doused the flames running through a petrolhead’s veins. No longer. Musk’s range of all-electric vehicles has made …

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