The Never-Ending Debt Crisis: EOH’s Search for a Fig Leaf

In a desperate bid to turn the corner, EOH Holdings, a JSE-listed IT services group, is counting on a theatrical performance of cost-cutting and financial wizardry to wipe out its massive debt burden. The company’s new senior leadership team, led by interim CEO Marius de la Rey and CFO Ashona Kooblall, claims they can conjure up a healthy balance sheet without selling off any of its prized assets, but the skeptics are already piling up.

The group’s latest results, released this week, highlight the magnitude of the task at hand. EOH’s revenue has plummeted to a paltry R6 billion, down from R12 billion just a few years ago, as it struggled to secure new business in a tough economic environment. Debts have piled up, with interest-bearing bank loans totaling R644 million as of the 2024 year-end, although the company has managed to reduce these by R41 million in the past year.

But Kooblall’s solution is not a ordeals and divestitures, but rather a more audacious approach: get efficiencies to flow directly into free cash flow by shedding R160 million to R200 million in costs from the business. The cost-cutting drive targets the bloated head office, which was built to support a R12 billion company, but now only needs to serve a R6 billion entity.

"We’re not going to sacrifice our people, because we’re a services business," Kooblall assured, as if to quell any doubts about the company’s commitment to its employees. "We will be repaying our debts in the normal course of business."

Of course, there’s a catch: EOH may not be able to muster up the dough to start paying dividends anytime soon. But don’t worry, the company’s going to play a trick, courtesy of its sharp accounting skills: it might just buy back its own shares to prop up the price and boost the value of its treasury, rather than sharing it with the faithful shareholders.

And as for the ghost of state capture, the corporate crooks, and the so-called "expensive paper" deals that nearly destroyed the company, Kooblall assures us that EOH has fully distanced itself from those dark days. A "strong risk background" and experience working with US financial regulators have equipped her to keep a hawk’s eye on the company’s governance, she claims. Ethics, schmethics – but hey, at least the company’s not corrupt anymore, right?

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Eskom’s Desperate Attempt to Stay Ahead of the Game: A Hard Hail Mary Pass at Network Performance Monitoring

In the vast expanse of the ICT sector, the National Treasury’s eTenders portal has been eerily quiet this week, recovering from a weekend of technical woes. But just as the industry was starting to get a little too chill, along comes Eskom, throwing a spotlight on its latest tender, and it’s a doozy: a request for network performance monitoring through the addition of smart nodes to its TAP aggregation devices. Because, let’s be real, in the fast-paced world of energy supply, one minute of downtime is one minute too long.

In this high-stakes game, Eskom sees itself getting left behind by the Joneses (or, in this case, the smart nodes). But fear not, for these smart suckers are about to make it happen. Eskom’s bid for network performance monitoring through TAP aggregation is all about keeping its proverbial eyes on the ball. With a clever trick bag full of tricks, this utility is on the hunt for a wizard of a solution that will keep its network nimble, efficient, and on the offense against those pesky cyber threats.

So, how’s it plan to do it? Easy: with an integrated system, allowing for advanced services like full packet capture and analytics, it’ll be able to pre-process or filter traffic, perform advanced services like deduplication and 1:1 Netflow generation, and even save a copy of the production network traffic flows to a network DVR (recorder node) for later replay. And let’s not forget about analytics for network troubleshooting, security incident response, and security threat hunting.

Other tenders worth a look:

• SITA is inviting proposals for preventative and corrective infrastructure maintenance for SAPS’ 69 terrestrial radio (Tetra) high sites in Gauteng: a whopping 36-month contract, folks!
• Development Bank of Southern Africa is seeking a service provider to supply, deliver, and install an end-to-end solution for an e-mail cleansing solution for itself and its clients. Wow, talk about a whole lotta emails!
• Sentech wants a service provider to help manage online declarations for all Sentech employees and non-directors: transparency, accountability, and compliance, anyone?
• South African Bureau of Standards is advertising for a laboratory information management system: think spreadsheets, but for science!
• And last but not least, Special Investigating Unit is on the hunt for a service provider to provide a wide area network, data, and telephony service, including maintenance of network, data, and telephony connectivity: think critical infrastructure, people!

In conclusion, the ICT sector is heating up, and it’s time to step up your game. Whether you’re a consultant, a vendor, or an individual with a passion for all things tech, there’s a spot for you on this exciting adventure. So, gear up, put on your thinking caps, and get ready to join the conversation!

The ol’ EOH practically begging for mercy as they succumb to yet another desperate attempt to reclaim relevance. This time, they’re ditching their “Holdings” moniker for iOCO Limited, because, you know, “branding initiatives” and all that jazz.

The real question is, will this lame attempt at a rebranding succeed in sweeping their sordid past under the rug? After all, EOH’s tunnel-visioned leadership has seen them nose-dive into the abyss, leaving their shareholders in the lurch. A shadow of their former selves, they cling to the hope that a mere name change will somehow magically erase the stench of corruption and corruption-related fines still hanging over their heads.

But will it be enough to distract from the fact that their group revenue has flatlined, their operating profit is in shambles, and their debt is still growing like a festering wound? We doubt it.

And yet, they’re expected to blame it all on the “one-off restructuring costs” and “decline in group revenue” as if these are the only issues at play. Spoiler alert: IT SERVICE PROVIDERS WHO ENGAGE IN MASSIVE CORRUPTION AND ARENA OF GREED DON’t get to claim they’re in a “transformation phase.”

The real crisis lies in the crumbling leadership, the hemorrhaging of talent (read: sanity), and the decaying trust between the company and its stakeholders. Renaming a company isn’t going to fix the rot from within.

But hey, who knows? Maybe the folks at EOH are counting on us all to forget the countless corporate scandals, the destroyed reputations, and the indelible marks of shame. We’re not willing to give them the benefit of the doubt just yet.

“Get Ready for a World of Betrayal: Xsolla’s Parental Controls Exposed!

Are you tired of feeling helpless as your children splash away their hard-earned cash on games and in-game purchases? Do you cringe at the thought of worrying about their digital safety and financial security? Well, fear not, dear parents, for Xsolla has come to the rescue with their parental controls solution!

This revolutionary tech titan’s latest offering is not just a stopgap measure, but a comprehensive suite of tools designed to safeguard young gamers from the evils of excessive spending and online harassment. And to make it even sweeter, Xsolla’s solution is certified with the prestigious COPPA and GDPR-K badges, giving you peace of mind that your kids are protected from the grasp of scammers and predators.

But that’s not all, folks! With Xsolla’s Parental Controls, you’ll have the power to:

* Age-gate transactions, ensuring that minors can’t splurge away their allowance
* Receive real-time notifications and approvals for transactions, so you’re always in the loop
* Monitor and control transaction history, so you can keep tabs on your child’s online activities
* Set spending limits and permissions, giving you a say in what your kids can and can’t buy

According to Anton Zelenin, Chief Product Officer, Fintech at Xsolla, “We believe that creating a safe and secure environment for young gamers is essential. Our COPPA-certified Parental Controls empower parents and developers by ensuring transparency and safety in gaming transactions. We’re committed to helping developers meet regulatory requirements while providing peace of mind to families.”

So, are you ready to take back control and give your kids the freedom to game guilt-free? Dive into Xsolla’s Parental Controls today and join the fight for a safer, more secure gaming experience for all!”

Black Friday to be Slammed with Cash-Strapped Consumers Ready to Splurge

A sudden jolt of good news for struggling retailers, as the average take-home pay in South Africa has hit a record high, just in time for the annual Black Friday shopping frenzy. This year, the downtrodden consumer has finally getting back some spending power, thanks to a perfect storm of declining inflation, plummeting fuel prices, and record-low interest rates.

According to the latest figures from BankservAfrica, the average take-home pay in South Africa has reached a whopping R17,171 in September, the highest level since the series began. And, in real terms, salaries adjusted for inflation have rocketed by a staggering 5.6% year on year.

"The economic gods have finally smiled upon the cash-strapped consumer," says Elize Kruger, an independent economist. "With confidence boosting, and the silent treatment of load shedding, the saving grace of politics, and a rate cut for the first time in over three years, the dam has burst – and the consumer is ready to party."

The numbers are even more impressive when broken down by sector. Transport and finance, for instance, saw a whopping 7% and 6.6% increase in average salary in the first half of 2024, respectively. This, combined with the anticipated spending power of the consumer, is set to fuel a Black Friday shopping extravaganza like no other.

"This is the perfect storm of economic growth, and the cash-strapped consumer is ready to unleash its fury on the shelves," says Kruger. "The Black Friday sales are going to be a bloodbath, with consumers slashing through the aisles to snap up the latest deals and discounts."

But don’t just take her word for it. The data is clear: the average nominal take-home pay is set to rise by a whopping 6.3% this year, while real take-home pay has increased by a dizzying 2.2% in the first nine months of 2024.

And, in case you’re still on the fence, a quick glance at online shopping habits suggests the average South African is more eager than ever to part with their hard-earned cash. Online shopping sales are expected to skyrocket, with Black Friday set to be the icing on the cake.

So, grab your credit card, and get ready to freak out – Black Friday is about to get a whole lot wilder.