Mark Shuttleworth is taking the South African Reserve exchange controls system that effectively forced Shuttleworth to move his wealth out of the country. In an interview with technology news website TechCentral, Shuttleworth said that South Africa’s exchange control system is “long past its sell-by date”. If Shuttleworth is success- ful, the case could significantly change foreign currency controls in South Africa where regulation currently makes foreign currency transactions a laborious and expensive process.
Nokia is hosting an event in New York in July that suggests a new breakthrough in mobile camera technology. The Finnish manufacturer is not saying much about its plans, but seems to be preparing for a big announcement.
Telkom Mobile now has a subscriber base of 1.5m customers. The number came from Telkom’s latest group results presentation and showed that the mobile division – which was launched recently to supplement Telkom’s 8ta brand – turned R1.4bn in the year to end March, running at a loss of R1.7bn.