News

MTN Group had a barnstorming 2021. The pan-African telecommunications group, despite its size, was the best performer among technology shares in South Africa last year. TechCentral’s annual analysis of the best (and worst) performing tech shares listed on the JSE shows MTN pipped Ellies Holdings to top position with a 12-month return of a stunning 183.6%. The performance in MTN shares came as investors warmed to the group’s growth strategy, improving prospects in key markets like Nigeria, its decision to exit the Middle East, management’s focus on reducing debt, and opportunities in growth areas like fintech, among other things. Rival Vodacom Group, by contrast, eked out an 8.2% improvement in its share price in 2021. But with big corporate activity on the go, including the acquisition of Vodafone Egypt, it’ll be interesting to see whether it’s Vodacom or MTN’s share price that performs better in the year ahead. Two small-cap shares occupied the second and third positions in...Read More

Sbu Shabalala...Read More

Adapt IT has formed an independent board committee to assess Huge Group’s unsolicited bid to buy the software company in an all-share deal valuing it at R795-million. Huge Group made the unexpected “general offer” to Adapt IT shareholders last week. Adapt IT has now, as required under South African takeover rules, constituted the independent board of directors, which is made up of Craig Chambers, Oliver Fortuin, Zizipho Nyanga and Catherine Koffman — the full complement of the company’s non-executive directorship. This board will advise shareholders on the Huge Group offer as required under the takeover regulations. It will also appoint an independent expert to issue a report on the offer and to express an opinion on whether the terms and conditions are fair and reasonable to Adapt IT shareholders. News of the creation of the independent board comes two days after Huge Group said it had secured the backing of more than three-quarters of its shareholders for its pursuit of Adapt IT....Read More

Software services group Adapt IT on Monday published full-year financial results to 30 June 2020 that showed remarkable resilience in the face of the Covid-19 pandemic and lockdown....Read More

Following its bullish trading statement....Read More

JSE-listed software services company Adapt IT saw a massive jump in its share price on Wednesday after it issued a surprisingly upbeat trading statement....Read More