The empowerment partner's option to buy almost a fifth of the company expires as it cannot raise funding.
The company is now worth R6.8 billion, based on its current share price of R13.09.
The group showed R1.919 billion in revenue growth, earnings of R77.3 million and headline earnings per share of 39.6 cents.
Horizon offers 20c a share to buy a 15% stake in verification company Muvoni, as the latter seeks to go private.
LG Premium Service Centre Launch
LG South Africa has launched its premium service centre in Midrand, Johannesburg. The centre aims to make it easy for LG customers to get their LG appliances fixed directly with LG.
Microsoft is downgraded to a sale and its shares drop on the back of a substantial first-quarter slump in PC sales.
The entity mulls several options, after the Johannesburg bourse cancels its stocks over its failure to report year-end results.
The company sees higher-margin business, as it moves its clients onto its own platform.
TymeBank announces Retail Capital buyout
TymeBank has reached an agreement with Retail Capital and its shareholders to acquire 100% of the fintech SME funder’s shares, subject to regulatory approval. #newsvideo #TymeBank #Itinbanking
Mobile banking apps have seen phenomenal growth and acceptance by customers in South Africa. So which bank has the best one? I set out to find out.
The company has a budget of between R700 million and R800 million for a local acquisition.
The Guma Group, founded by Gijima's chairman, agrees to subscribe for 36.5% of a rights offer that aims to raise R150 million.
The Absa banking app services all clients, from individuals, to businesses and households.
The company denies there are governance issues and accuses the Kirsh family of being "mischievous".