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Five things making headlines in South Africa today

Net1 second quarter results, Twitter gains, MultiChoice is searching for bidders, Liberty trading forecast, and Zuma may get a lifeline.

Here’s what caught our attention on Friday

  • Net1 second quarter results for 2018

Net1 Universal Electronic Payment Solutions (UEPS) Technologies released results for the second quarter of the 2018 financial year on Friday. For the three months ending December 31, revenue fell by 4% in rands, from $151 433 in 2016, to $148 416 in 2017. The fundamental earnings per share also fell 11% in rands, from 0.43 in 2016 to 0.39 in 2017.

  • Twitter gains revenue

Social media platform Twitter reported gains in revenue on Thursday, after four quarters of stagnant growth. The growth was driven by the addition of the video content feature, and other improvements to the app. Bloomberg reported that the news of gains has encouraged advertisers to increase their spending on the social network.

  • MultiChoice looking for bidders

Since Multichoice made the decision to boot out Gupta-owned news channel ANN7 from the DStv bouquet, the entertainment provider is on the search for a 24-hour news channel. MultiChoice said it is inviting interested parties to bid, in its proposed intention to produce and operate a black-owned news channel, TechCentral reported.

  • Liberty anticipates improvement

Liberty will release its trading statement for the financial year ending December 2017, on March 2.  The group has said that it expects normalised headline earnings per share to be between 1% and 15% higher than the year ended December 31 2016. Basic earnings per ordinary share and headline earnings per ordinary share are also expected to be between 40% to 50% higher.

  • ANC plans for Zuma

News this week revolved completely around the presidency and the ANC’s decisions to remove President Jacob Zuma. The latest is that talks are still continuing and that the ANC may not fire the president, but instead he may leave by terms of negotiation, Reuters reported.

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