Company news in brief

Telkom announces executive changes Telkom has appointed Tsholofelo Molefe as its new Group chief financial officer (CFO), as former CFO Deon Fredericks will move to the role of chief investment officer (CIO) .According to a statement issued by the company on Tuesday morning, the CIO role will allow greater focus on Telkom’s investment strategy.“Our most recent set of annual financial results shows that our new revenue streams are beginning to offset Telkom’s traditional revenue streams. This confirms that we made the right investment decisions at the right time,” said Group CEO Sipho Maseko.-Fin24Vodafone to list Ghana unit on local stock marketVodafone’s Ghana business plans to list on the local stock market after restructuring its loans, the head of the local unit told Reuters on Tuesday.Yolanda Zoleka Cuba said Vodafone was in talks with the West African country, which owns a 30% stake, to restructure its debt.The world’s largest mobile group by revenue paid US$900 million for a 70% stake in state-run Ghana telecom in 2008 while the government retained the remaining 30% with an enterprise value of around US$1.3 billion at the time.-Nampa/ReutersEight protesters injured at Glencore’s smelterGlencore said on Tuesday that eight people were injured at its South African smelting operations in the North West province during a protest.Glencore said a security company at its Wonderkop Smelter fired rubber bullets to disperse the protestors, who were demanding employment, resulting in eight people sustaining minor injuries.-Nampa/ReutersLong4Life to buy fashion retailer Rage South African investment firm Long4Life has agreed to buy fashion retailer Rage for 3.9 billion rand (US$287.5 million) to strengthen its lifestyle brands business.The amount will be settled through a combination of shares and cash from internal resources and bank debt, Long4Life said in a statement on Tuesday.As part of the deal, Long4Life, which targets investments with a lifestyle focus, will issue 270 million ordinary shares at 5.50 rand per share, worth 1.5 billion rand in total.-Nampa/ReutersTwitter ramps up fight against abuse and malicious botsTwitter said it’s making changes to combat abuse and malicious automated accounts, including requiring more authentication for new users, in an effort to address complaints that social networking services have allowed harassment and manipulation to run rampant.For the first time, Twitter is going to require confirmation of an email address or phone number to sign up for an account. The company, which promotes itself as a place for public conversation over news and events, has long been criticised for making it too easy for malicious actors to create multiple spam accounts.-Fin24

Company news in brief

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Company news in brief

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