Johannesburg, 14 April, 2020 – A two-week lockdown extension in South Africa means an even greater blow to the country’s already fragile economy. Around the world, governments and corporates are attempting to put measures in place to prevent widespread unemployment and poverty from being the inevitable result. This week, Cell C outlined its plans to help people earn money via the gig economy during lockdown.
The mobile operator has made R2 million available for jobbers through gig technology company M4Jam.
“In late 2019, Cell C worked with M4Jam when we initiated a project to understand the dynamics of the informal telecommunications retail market. Jobbers assisted with mapping informal traders nationwide using geo-location data,” explains Douglas Craigie Stevenson, CEO of Cell C. “The Covid-19 pandemic is having a devastating impact on people’s livelihoods in the informal sector. Cell C wanted to make a direct difference and has provided funding that will pay users or jobbers to complete training tasks from the safety of their homes and all via mobile devices during the lockdown.”
Most of the jobbers who find part-time, temporary work through M4Jam are not employed in the formal economy and rely on gig-work for income. The project is scheduled to run over three weeks and the average pay-out per jobber is estimated to be R310 per week.
According to M4Jam CEO, Georgie Midgley, in support of the government’s bid to curb the spread of COVID-19, M4Jam has removed all location-based jobs off their platform, which is having a upsetting effect on our jobbers who rely on us for day-to-day living. As much as it is required to protect our public health institutions, it also requires an urgent and focused response to provide alternative sources of income for South Africans who are formally unemployed.
M4Jam currently has 320 000 registered jobbers, many of whom have already assisted Cell C in its national rollout of mapping informal traders.
In its COVID-19 jobber support project, Cell C will provide incentivised training for jobbers to complete in the comfort of their own homes via their mobile devices. The curriculum provided is intended to further upskill the Cell C jobbers to both provide income through lockdown and make jobbers more marketable as gig economy participants once lockdown is lifted.
The three-week curriculum consists of 48 micro-lessons on COVID-19 topics, Cell C product related topics, general training on being successful as a regular jobber and better data collection while in the field.
Jobbers will be paid on successful completion of micro-lessons, with payments disbursed evenly over the three weeks of the curriculum into their M4Jam wallet. These funds are accessible via EFT, cash withdrawals at specific retailers, purchasing of data, airtime and other virtual products.
Each jobber will receive a digital certificate of completion at the end of the training and this will be added to the jobbers’ digital CVs.
Midgley says, “M4Jam is very grateful to Cell C for their contribution and we are calling on other South African corporates to replicate this example. It will impact livelihoods during lockdown and further the country’s skills development goals to help boost the economy once lockdown is over.”
Net1 completes sale of remaining stake in DNI for ZAR 860 million and provides COVID-
19 update – Moneyweb.co.za
JOHANNESBURG, April 1, 2020 – Net1 (Nasdaq: UEPS, JSE: NT1) today announced that it
has completed the sale of its 27.5% remaining interest in DN Invest Proprietary Limited
(‘DNI’), as follows:
– A 24.3% equity stake in DNI was sold to MIC Investment Holdings Proprietary Limited
(‘MIC’), one of the most highly regarded investment companies in South Africa, for a
cash consideration of approximately ZAR 760 million (or $42.7 million at an exchange
rate of $1/ZAR 17.80 at March 31, 2020); and
– The remaining 3.2% equity stake was sold to DNI through a share buyback mechanism
on deferred payment terms for approximately R100 million (or $5.6 million at an
exchange rate of $1/ZAR 17.80 at March 31, 2020). The consideration will be received
over 24 months, bearing interest at market related rates, with an initial six-month interest
and capital repayment holiday.
‘We are pleased to conclude yet another key milestone of our strategic plan. We look forward to
an ongoing strategic partnership with DNI in order to address our common objectives in the
distribution of value-added-services across South Africa,” said Herman Kotzé, CEO of Net1.
‘Our immediate focus is to ensure the safety and wellbeing of our employees, partners and
customers during the COVID-19 pandemic. Over the past month, we have realized in excess of
$4.60/share in cash from asset sales and therefore remain comfortable with the Group’s
Our key market in South Africa went into a 21-day nationwide lockdown starting on March 27,
2020. We believe there is limited impact on our Q3 2020 operations, with a modest adverse
impact in South Korea in February prior to the closing of our sale of KSNET and the last two
weeks of March in South Africa. We expect the lockdown in South Africa to have a more
significant impact on our Q4 2020 results, specifically due to the industry-wide waiving of
certain fees during this period, the suspension of non-essential financial and other services and
the ability to do marketing and acquire new customers during a lock down. We will provide
further updates with our Q3 2020 results in May 2020.
About Net1 (www.net1.com)
Net1 is a multinational financial technology company with a presence in Africa, Asia and
Europe. Net1 leverages its proprietary banking and payment technology to distribute low-cost
financial and value-added services to underbanked consumers and small businesses. The
Company also provides transaction processing services, including being a leading payment
processor and bill payment platform in South Africa. Net1 leverages its strategic investments in
banks, telecom and mobile payment technology companies to further expand its product
offerings or to enter new markets. Net1 has a primary listing on NASDAQ (NasdaqGS: UEPS)
and a secondary listing on the Johannesburg Stock Exchange (JSE: NT1). Visit www.net1.com
for additional information about Net1.
This press release contains forward-looking statements that involve substantial risks and
uncertainties. All statements, other than statements of historical fact, included in this press
release regarding strategy, future operations, future financial position, future revenues, projected
costs, prospects, plans and objectives of management are forward-looking statements. The
Company may not actually achieve the plans, intentions or expectations disclosed in its forward-
looking statements. Actual results or events could differ materially from the plans, intentions and
expectations disclosed in the forward-looking statements that the Company makes. Factors that
might cause such differences include, but are not limited to: the Company failing to execute its
South African strategy; the unknown impact of the current COVID-19 pandemic; and other
important factors included in the Company’s reports filed with the Securities and Exchange
Commission, particularly in the “Risk Factors” section of the Company’s Annual Report on
Form 10-K for the fiscal year ended June 30, 2019, as such Risk Factors may be updated from
time to time in subsequent reports. The Company does not assume any obligation to update any
forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Group Vice President, Investor Relations
Phone: +1 917-767-6722
Media Relations Contact:
Bridget von Holdt
Business Director – BCW
April 1, 2020
Rand Merchant Bank, a division of FirstRand Bank Limited
Date: 01-04-2020 04:45:00
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14 February 2020 – 3G Mobile (Pty) Ltd (a Blue Label subsidiary) officially acquired by DNI-4PL Contracts (Pty) Ltd .
With offices in South Africa, Botswana, Namibia and Mauritius, 3G Mobile supplies and distributes mobile phones and tablets to major retailers across South Africa and Sub-Saharan Africa and has become one of the continents leading distributors.
3G Mobile currently has presence in Lesotho, Mozambique, Swaziland and Zambia.
Radical partnership leads to youth employment and transformative education
A few of The Columba graduates engaging in an experiential learning activity at a Radical partnership leads to youth employment and transformative educationLeadership Academy to gain skills like problem solving; working in teams; communicating and personal mastery to better equip them for the working world.
As we celebrate Youth Month, we recognise the two most urgent challenges facing young South Africans: education and employment. A partnership between Columba Leadership and Money for Jam (M4JAM) has produced a bold new solution to these issues – a scalable business model that creates employment, helps drive education, and ensures sustainable community development.
This partnership was established as a result of the fact that South Africa is the most unequal society in the world, with youth unemployment close to 60%. ”Micro-jobbing and micro-training using mobile technology will do to traditional employment and education what Uber has done to transport,” says Andy Payne, Chairman of M4JAM. “Our partnership will enable us to become the biggest employer of youth in the country within the next five years,” he adds.
Micro-jobbing platform, M4JAM, and youth leadership programme, Columba Leadership, have partnered to help address their mutual visions of youth empowerment, employment and skills development.
“Around the world education systems designed for the industrial era are not providing young people from under-served communities with the tools to succeed in the modern, post-industrial economy. Ethical leadership, sustained employment, and responsible capitalism in an inclusive economy have never been more important. South Africa’s current unemployment crisis demands an urgent and effective response,” continues Payne.
The Columba / M4JAM partnership addresses these issues by using experiential learning of values to build character or grit with participation in projects to improve communities that builds skills like problem solving; working in teams; communicating and personal mastery. M4JAM on the other hand offers a unique way to address unemployment by providing a steady stream of micro-jobs to young job seekers.
“We do not believe that the formal sector is going to provide the levels of employment we need to effectively address unemployment in this country,” says Rob Taylor, founding chairman of Columba. “M4JAM, being at the forefront of micro-jobbing, offers opportunities for our graduates to earn an income while studying and making a social contribution by creating new jobs in the informal economy,” he adds.
The Columba / M4JAM partnership has been shortlisted for the Unilever Global Development Award, supported by Business Fights Poverty. The nomination is a result of their efforts towards creating sustainable economic freedom for the youth of South Africa.
“We call on all South Africans to spend Youth Month developing solutions to the growing crisis of inequality,” says Taylor. “We welcome all interested parties to join and support our efforts to create significant and sustainable economic opportunities for young South Africans,” he concludes.
For more information on Columba Leadership and M4JAM please feel free to visit their websites
We have some very exciting news that we would like to share with you!!!
It was announced last night that M4JAM and Columba Leadership are finalists for the Unilever Global Development Award!!!
So, I am sure you are asking what is the Unilever Global Development Award? Well, this award identifies and recognises Businesses that demonstrate a positive impact on the Global Goals for Sustainable Development to end poverty, protect the planet and ensure prosperity for all.
Here is why M4JAM and Columba Leadership were nominated for the Award.
“M4JAM’s main goal is simple to define: it wants to be the biggest creator of jobs for youth in South Africa, a country where youth unemployment is close to 60%. For M4Jam – a micro-jobbing platform that connects potential employees to companies through an app – its experience in ‘informal’ markets, coupled with its tech-based platform, will help it to achieve its goal; last September it partnered with Columba Leadership (CL) which has a national network of values based social entrepreneurs. Collectively the two organisations hope to unlock opportunities for young people in underserved communities to participate in supply chains traditionally dominated by large corporations. 5,000 graduates from 130 schools in six provinces have taken part in this burgeoning programme to date.”
The finalists comprise of the following Companies: Agro America; Ayzh; Carlson Rezidor Hotel Group; Grassroots Eco-build; Live Well; Modelez International; R Twining and Co;
The Society for Engineering and Technology in Africa Foundation; Sproxil; Sunny Money; Water Health and What 3 Words
M4JAM will be presenting in London in May and the Winner will be announced in July
For more information please follow this link: (http://awards.bitc.org.uk/home-page/the-unilever-global-development-award-shortlist)
Microjobbing Can Help Graduates Gain Professional Experience – M4JAM
Employers require practical, work-based experience, which graduates often do not have prior to entering the workplace, so graduates often cannot gain employment owing to the lack of experience, says microjobbing platform Money for Jam (M4JAM) CEO Richard Dunn.
This chicken-and-egg problem can potentially be addressed through the use of a microjobbing system that sees business providing measureable and commercially valuable work-based experience. Graduates gain experience and companies are able to access graduates with a proven record of work, he says.
Microjobbing provides a platform for businesses to break down large projects into small tasks or ‘jobs’ that graduates can complete and be reimbursed for, merging the idea of on-demand services in business with the concept of ‘jobs on demand’ for those who need them most.
“However, beyond providing a short-term financial solution, microjobbing can address the need for skills development because microlearning fits well with the microjobbing model,” he avers.
Microlearning is a modular delivery approach to elearning, where content is structured into a series of short, concise and dynamic lessons often in the form of a video, infographic or other rich media delivered by means of a mobile device. Each is a complete learning experience while also supporting a greater learning sequence.
“Importantly, just as microjobbing taps into the mobile technology boom by providing work that can be done whenever and wherever, microlearning enables people to access digital, educational content via their mobile devices.
“This makes it particularly effective for engaging with millennials who are already accustomed to interacting with mobile devices – and mobile penetration across Africa continues to increase. Microlearning also reduces the time and resources needed for training a much larger group of individuals, while offering learners convenience and flexibility to fit in their training whenever and wherever they can – depending on what they need and when they have time,” says Dunn.
Microjobbing, therefore, has the dual role of providing a source of income for those who are unemployed or underemployed, as well as acting as a platform for microlearning to potentially uplift these individuals so that they can find employment or even try their hands at entrepreneurship.
“Matching skills development with economic opportunity is crucial as one cannot exist without the other. Finding new and sustainable ways to increase the pool of skilled workers using a medium they understand is an essential part of enabling growth. Therefore, microjobbing, with its potential to help make ends meet and drive skills development, can have a significant beneficial impact on the economy.”