ADSL on its last legs in South Africa

-
Image
  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 ...
Post a Comment

Nedbank rewards two borrowers with loan settlements

-

 BUSINESS REPORT

COMPANIES
ACCORDING to the bank, it settled Jennifer van Tonder’s personal loan and Naomi Rheeder’s home loan after they were identified as having demonstrated consistent management of their respective loan accounts. | Nadine Hutton, Bloomberg.
ACCORDING to the bank, it settled Jennifer van Tonder’s personal loan and Naomi Rheeder’s home loan after they were identified as having demonstrated consistent management of their respective loan accounts. | Nadine Hutton, Bloomberg.

Nedbank rewards two borrowers with loan settlements

By BR Reporter Time of article published May 11, 2021

Two Nedbank customers had their loans settled by the bank through its Greenbacks programme after they continued paying their instalments through the Coronavirus pandemic.

According to the bank, it settled Jennifer van Tonder’s personal loan and Naomi Rheeder’s home loan after they were identified as having demonstrated consistent management of their respective loan accounts.

The bank said the two customers managed to continue making payments, even through the pandemic and its associated economic crisis.

Nedbank said the Greenbacks programme encouraged good money management, particularly loan management under the Responsible Borrower package.

“This package is linked to Nedbank Home Loans, Personal Loans, and Vehicle Asset Finance offerings and is free to join, with customers rewarded through a competition mechanism,” it said.

According to the bank, clients were entered into a quarterly competition for their qualifying loan products.

“The eligibility for the quarterly competition is to have all respective instalment payments for each qualifying loan product paid up for the full quarter, with the prize being a settlement on the outstanding balance of the loan up to the value of R1.5 million. The higher the customers’ level in the programme, the more entries they get into the competition and the greater their chances of winning,” added the bank.

Nedbank executive for loyalty and rewards Dharmesh Bhana said: “This is compelling to consumers, who were rewarded for practising sound money management.

“For the bank, the obvious benefit is a reduction in default rates, but over the long-term, consumers reap the benefits of making smarter lending choices and managing their debt obligations well, supporting a strong credit record, as well as the chance to reap life-changing rewards, like winning your Home Loan back, as an example,” he said.

Rheeder said: “Since Lockdown started in March 2020, I was concerned about what would happen and if I would still have a job. I made sure that I had some provisions in case something happened, so I would only buy what I needed and save money to cover unexpected expenses over several months.

“My husband and I were lucky to keep our jobs, but some of our family members weren’t as fortunate. So, after we covered our home loan and other obligations, we helped them where we could. My husband also helped and collected clothes and food for homeless people who were living in a nearby park,” she said.

ADVERTISING

Van Tonder, who took out the personal loan to help her daughter with a dental procedure, said: “I was lucky to keep my job, although still working from home. Some people were not as fortunate, and others struggled to manage their finances to prepare for the hard times.

“It takes a strong and disciplined person to manage debt and personal finances. Besides the pandemic, the economy was very depressed and as the country recovers, people need to save more for the future,” she added.

BUSINESS REPORT ONLINE

FINANCIAL AND BUSINESS SERVICECAPE FLATS

SHARE THIS ARTICLE:

Comments

Post a Comment

Popular posts from this blog

If everyone on Earth sat in the ocean at once, how much would sea level rise?

-
Image
  There are a lot of people, but the oceans are very big.   Rosley Majid/EyeEm via Getty Images If everyone on Earth sat in the ocean at once, how much would sea level rise? March 29, 2021 2.07pm SAST Author Tony E. Wong Assistant Professor of Mathematical Sciences, Rochester Institute of Technology Disclosure statement Tony E. Wong does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment. Partners Rochester Institute of Technology  provides funding as a member of The Conversation US. The Conversation is funded by the National Research Foundation, eight universities, including the Cape Peninsula University of Technology, Rhodes University, Stellenbosch University and the Universities of Cape Town, Johannesburg, Kwa-Zulu Natal, Pretoria, and South Africa. It is hosted by the Universities of the Witwatersrand and Wester...
Read more

Andrew Watson: The 'most influential' black footballer for decades lost to history

-
Image
  By Andrew Aloia BBC Sport Last updated on 11 October 2021 11 October 2021 . From the section Football Watson was a trailblazer who helped transform how football was played There are two murals of black footballers facing one another across an alleyway in Glasgow. One helped shape football as we know it, the other is Pele. Andrew Watson captained Scotland to a 6-1 win over England on his debut in 1881. He was a pioneer, the world's first black international, but for more than a century the significance of his achievements went unrecognised. Research conducted over the past three decades has left us with some biographical details: a man descended of slaves and of those who enslaved them, born in Guyana, raised to become an English gentleman and famed as one of Scottish football's first icons. And yet today, 100 years on from his death aged 64, Watson remains something of an enigma, the picture built around him a fractured one. His grainy, faded, sepia image evokes many differen...
Read more

Which countries have the world’s largest coal reserves?

-
Image
  Visual Capitalist Elements   | September 15, 2021 | 8:58 am   Intelligence   Australia   USA   Coal   The Countries With the Largest Coal Reserves Cheap and abundant coal remains one of the largest sources of energy worldwide, even as governments set out goals to reduce greenhouse gas emissions. While jurisdictions in Europe and North America have been phasing out coal use in power generation, it has been on the rise in Asia. China and India are scrambling to provide electricity to a growing population and relying on coal power plants to meet demands despite the environmental costs. SIGN UP FOR THE ENERGY DIGEST Sign Up This infographic takes a look into the  BP Statistical Review of World Energy 2021 , and the 11 countries that make up  89%  of the coal reserves globally. Coal Reserves, by Country While countries need to phase out coal by 2040 to achieve the Paris Agreement goal of limiting global warming to 1.5ºC, consumption in key ...
Read more