ADSL on its last legs in South Africa

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  By   Daniel Puchert Partially state-owned telecommunications company Telkom announced in its financial results for the year ending 31 March 2025 that its ADSL subscribers had more than halved to under 30,000. According to the company’s operational data, ADSL lines decreased from 64,959 in March 2024 to 29,770. This 54.2% decline highlights that the legacy broadband technology is slowly approaching the end of the road. Telkom’s ADSL business peaked at the end of March 2016 with 1.01 million subscribers — two years after fibre upstart Vumatel  broke ground in Parkhurst . What followed was a sharp decline in Telkom ADSL subscribers. Customers connected to its copper networks decreased by more than 500,000 over the next four years. This was partly driven by Telkom itself, which began actively switching off its copper network in some neighbourhoods. If it did not have fibre in the area, it would offer a “fixed line lookalike” wireless service that ran over its cellular ...
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Capital hotel group to buy Fairmont Zimbali Resort in R240m deal

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 Nivashni Nair

Senior reporter
  
19 March 2021 - 12:04
The Fairmont Zimbali Hotel went into voluntary business rescue in September last year.
The Fairmont Zimbali Hotel went into voluntary business rescue in September last year.
Image: Supplied

The luxurious Fairmont Zimbali Resort on KwaZulu-Natal’s north coast is likely to open its doors as The Capital Zimbali in September, after a R240m deal with The Capital Hotels and Apartments.

The Capital Hotels and Apartments has been confirmed as the business rescue practitioner’s preferred bidder for the resort, with the deal likely to be completed once conditions precedent - including Competition Commission approval - have been met.

The Fairmont Zimbali Hotel went into voluntary business rescue in September last year.

At the time, its owners said the prolonged lockdown, “the longest in the world to date with limited support from government”, had eroded its revenue base.

The Capital group will invest R30m in an extensive renovation and refurbishment project on the 18-acre property, located in the heart of the exclusive Zimbali Coastal Resort eco-estate.

KZN's Fairmont Zimbali Hotel enters into business rescue

The owners of the luxurious Fairmont Zimbali Hotel announced on Thursday that the hotel has entered into business rescue
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“The Capital Hotels and Apartments has built its portfolio of hotels by investing in the market at times when others would not, by identifying suitable distressed properties to add depth and value to our mix of business and leisure offerings,” said The Capital Hotels and Apartments MD Marc Wachsberger.

He said the Fairmont Zimbali Resort was an iconic landmark on the KwaZulu-Natal north coast and a destination of choice for SA's domestic leisure market, as well as conference organisers.

“We are looking forward to welcoming guests to the property in September, once the rollout of Covid-19 vaccines has made domestic travel more appealing, and the country is beyond the anticipated third wave of the pandemic.”

Economic development, tourism and environmental affairs MEC Ravi Pillay welcomed the news of a deal that will save dozens of jobs at the establishment.

We expect visitor numbers to start increasing, especially during the Easter season.
KZN tourism MEC Ravi Pillay

“We are delighted with this development, especially because 143 jobs will be saved as part of the process. What is even more interesting is that the potential buyer is planning a multimillion-rand investment in the establishment. This means more jobs may be created as part of that process.”

Pillay said the deal augurs well for the province's economic recovery efforts.

“The tourism sector was one of those hardest hit by the Covid-19 pandemic. This is why it is one of the sectors we will be focusing on as we double efforts to recover the economy across sectors”.

Pillay said as there were encouraging signs of recovery in the tourism sector, it was even more important to adhere to all the safety protocols meant to curb the spread of Covid-19.

“We expect visitor numbers to start increasing, especially during the Easter season. While we encourage domestic visitors to explore our province, we are equally working hard to limit the spread of the virus. We encourage both the establishments and visitors to adhere to all the safety protocols.”

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