Archive for August, 2012

Aug 29 2012

SA losing the internet race

Published by under More News,Opinion,South Africa

South Africa is losing the internet race on the continent of Africa, thanks to the SA government’s inability to get fast internet to the masses at reasonable prices.

As I’ve said before, this is not an insignificant failure. The internet can generate lots of growth and jobs for the country. Look for instance at this research by the World Bank. Also read this article of mine on the topic.

In the latest issue of The Economist, probably the best magazine in the world, they wrote about the positive influence of the internet on the Kenyan economy. This is a story worth reading. If only to be reminded again of what South Africa and its people are missing out on.

I placed the complete article in a PDF. Please click here: The Economist. (If you get an error, which is likely, then click again, on repeat, that is.)



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Aug 10 2012

Extra dividend boosts Naspers’ acquisition kitty

Published by under Companies,Europe,More News

According to German blog Mydividends.de Mail.ru, Russia’s biggest internet firm (in which Naspers holds a 29% stake) sold (some, or all) of its Facebook shares to pay an extraordinary dividend of $3.80 U.S. per share. In total $795 million U.S. will be paid out to shareholders on Aug. 17.

Then Naspers’ “acquisition kitty” will be roughly $231 million fuller. Not bad.

Here is the report of Mydividends.de and here the official press statement of Mail.ru. Note: the official statement doesn’t mention the Facebook sale.

Not known, is whether Mail.ru sold all or just some of its shares in Facebook and at what price Mail.ru sold. Before this sale, Mail.ru held 2.33% of all Facebook shares.

Mail.Ru Group also (still) holds 21.35% in QIWI, 39.99% in Russian social network “VKontakte”, 1.41% in Zynga Game Network Inc., 4.63% in Groupon Inc. and smaller stakes in a number of small Russian and Ukrainian internet companies.

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Aug 02 2012

At last, at last…

Published by under Europe,More News,Opinion

At last someone in Germany has seen finance minister Wolfgang Schäuble for what he is: not good enough for the job.

This article appeared in the Financial Times Deutschland this morning under the headline: Schäuble – a disappointment

The second head reads: That Schäuble is one of Germany’s best-loved ministers, is unjustified. In reality, his record is disastrous in the 4 main areas of his responsibility.

It was written by Marie-Christine Ostermann, national chairperson of the association Die Jungen Unternehmer.

I rest my case…


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