Network Investment pays off for Vodacom

MOBILE communications company Vodacom on Wednesday reported an 8.7% rise in group revenue to R21.741bn for the quarter to December 31 2015.

 

Group data revenue for the quarter increased 27.5% to R5.52bn, while group active customers grew by 6.8% to 65.2-million and active data customers by 14.5% to 30.3 million.
South African service revenue was up 7.2% at R12.707bn, with international service revenue increasing 15.4% to R4.581bn.

Investors: Facebook Class Action Lawsuits to Go Ahead

A federal judge certified the legal proceedings, Reuters reports, saying investors who claim they lost money could pursue their claims as groups.

Facebook told the BBC that it was disappointed with the decision and it has launched an appeal against it.

The firm's initial public offering (IPO) in May 2012 raised $16bn (£10bn).

Ireland UTV Media agrees sale of TV stations to ITV for £100m

The media company has operated in Northern Ireland since 1959 when it became the first commercial television channel in Ireland.

It launched a station in the Republic of Ireland in January this year.

But the new Dublin station struggled to find an audience and is expected to lose almost £12m this year.

In August UTV Media confirmed it was in talks regarding the potential sale of its television assets to ITV.

 

"Outstanding service"

Stakeholders Propose Strategies to Rev up Tax Revenue- At BusinessDay forum

At a forum organised yesterday by BusinessDay in partnership with the Federal Inland Revenue Service (FIRS) and PricewaterhouseCoopers (PwC), stakeholders suggested strategies that could help government rev up income through taxes, especially in the face of the present lean oil revenue.

Samuel Ogungbesan, immediate past acting FIRS chairman, suggested that the first step would be to populate a central tax database that would provide adequate information on those eligible to pay taxes, as obtainable in France with over 32 million tax payers and South Africa.

He said there was need to further push for an efficient tax revenue collection process, but that this would only happen if the entire tax system was computerised in order to check the present trend of running after taxpayers.

 

There is also the need for other stakeholders to challenge the tax system, he said, as he bemoaned the discord between policy makers and regulators, and kicked against the resolution of the National Assembly on the enactment of the FCT Board of Internal Revenue despite informed counsel by the office of the erstwhile minister of finance, Ngozi Okonjo-Iweala.