Telecom
Vantage Capital Exits Vumatel

Vantage Capital, Africa’s largest mezzanine debt fund manager, has announced that it has fully exited its investment in Vumatel, the largest fibre-to-the-home network provider in South Africa.

The company was established in October 2014 by Niel Schoeman and Johan Pretorius, industry veterans who had previously started up the Birchman Group and Conduct Telecom before creating Vumatel.
Vumatel started out its life rolling out South Africa’s first fibre optic network to homes in Parkhurst by partnering with internet service providers who provided connectivity to their residential customers whilst Vumatel remained the owner and operator of the infrastructure.
At the time of Vantage’s investment in 2016, Vumatel had deployed its open-access fibre optic network across fourteen suburbs in Johannesburg, passing 16,000 homes and had secured around 4,000 subscribers. It had also received an equity investment from Investec Equity Partners.
Whilst banks were unwilling to fund the company at this early stage in its life, Vantage recognised the tremendous potential of the business and supported it with R250m ($17m) of capex funding to accelerate its rollout.
Today, just four years later, Vumatel has become the largest provider of fibre to the home in the country. Over the life of Vantage’s investment, the number of homes passed has grown forty-fold and the number of subscribers fifty-fold as the company has laid thousands of kilometres of cable.
Vumatel has also played a major role in upgrading the infrastructure of South African schools by providing free uncapped fibre services to public and private schools that its networks bypass.
In 2018, Vumatel was recognised with a prestigious award from the South African Venture Capital Association for the best medium-sized South African growth champion.
Last year, CIVH majority owned by Remgro acquired full ownership of Vumatel after initially securing a 34.9% stake in 2018.
Vantage’s investors were beneficiaries of this transaction from both ends as Vantage had in a separate transaction provided New GX, a black owned and controlled investor, with mezzanine funding to part-finance their fibre-related assets including local manufacturing capacity.
Vantage exited the New GX transaction in 2018 and last week, Vantage’s mezzanine facility was refinanced by Vumatel after it secured substantial funding from a consortium of South African banks.
To date, Vantage has now successfully exited twelve investments across its three generations of mezzanine debt funds generating cumulative proceeds of R4.2bn ($360m) and x-money of 2.3x (1.8x in dollars).
Luc Albinski, co-managing partner at Vantage Capital, pointed out that “Vumatel is one of our many success stories, where we have supported businesses with mezzanine debt to achieve their growth ambitions. In this investment, we saw the opportunity to partner with an exceptional management team in a fast-growing sector and we are proud of the role Vantage played in unlocking the exceptional growth that Vumatel has since delivered.”
Warren van der Merwe, co-managing partner at Vantage Capital, added: “The Vumatel investment is an excellent case study of how mezzanine debt can unlock growth opportunities where banks remain risk-averse. In this way, Vantage plays an important role in supporting mid-size corporates before they are sufficiently established to fully fund their operations and growth ambitions with bank debt.”
Hugo van den Heever, associate partner at Vantage Capital, added “we have focused a lot of attention on the technology infrastructure sector with its high growth potential. In line with our pan-African mandate, we have looked at opportunities across the continent including markets such as Nigeria, the East African Community and Egypt. We hope to be able to announce further investments in this sector shortly.”
Telecom
Court Bans Kenyan Telcos from Recycling SIM Cards

Kenya’s High Court has ruled that mobile phone numbers are not disposable assets, but constitutionally protected digital identifiers, striking at the core of a long-standing industry practice of arbitrarily reassigning inactive SIM cards without the owners’ consent.

In a landmark decision that could reshape telecom regulation and digital identity frameworks across Africa, sitting at Milimani Law Courts in Nairobi, Justice Lawrence Mugambi declared that reassigning a phone number without the original owner’s consent violates the right to privacy.
The ruling effectively elevates a SIM card into the same legal category as personal data tied to an individual’s private life.
At the heart of the ruling is Article 31 of the Constitution, which safeguards citizens from unnecessary disclosure of private information and interference with communications.
The court found that in today’s digital economy, a registered mobile number functions as a critical gateway to sensitive personal data, linking users to mobile money platforms like M-PESA, banking systems, email accounts, and social media profiles.
“When mobile digital identity is lost through reallocation or recycling without interrogating the reasons behind inactivity, it creates an avenue for unauthorised disclosure of delicate information,” the judgment stated.
The case, brought by Erastus Ngura Odhiambo, petitioner and former prisoner, challenged the routine telecoms practice of deactivating SIM cards after prolonged inactivity and reassigning them to new users.
Odhiambo lost access to his mobile phone number due to inactivity while serving his lengthy sentence.
He argued that the practice exposes individuals to serious risks, including misdirected financial transactions, intercepted one-time passwords, and unintended access to private communications.
The court agreed, highlighting how recycled numbers can result in strangers receiving confidential messages, authentication codes, and even being added to private messaging groups, effectively inheriting fragments of another person’s digital life.
Justice Mugambi also criticised the rigidity of SIM deactivation policies, calling them “arbitrary” for failing to consider legitimate reasons for inactivity such as incarceration, studying in restricted environments, or living abroad.
“Incarceration does not strip an individual of their constitutional rights to privacy and identity,” he noted.
For telecom operators, including Safaricom, the ruling introduces a significant compliance burden. The court outlined three strict conditions before any number can be reassigned.
Telcos must obtain informed and verifiable consent from the original owner, issue a public notice and conduct traceability efforts over a reasonable period.
More importantly, the court further directed that telecoms firms must implement technical safeguards to prevent data exposure to the new user.
The Office of the Attorney General has been given six months to translate these directives into enforceable regulations.
Telecom
Binance Earn: Simple Way to Earn Rewards on Idle Crypto Holdings

Binance Earn offers cryptocurrency users an accessible way to generate rewards on idle digital assets without active trading or constant market monitoring.

Binance Earn
As the crypto market matures, more holders seek productive uses for their assets rather than leaving them dormant in wallets. Binance addresses this through Binance Earn, where users allocate supported cryptocurrencies to various reward products for automatic yield generation.
The platform emphasises simplicity with a “set-and-forget” model: users select assets, pick a product, and rewards accrue passively in the background. This appeals especially to long-term holders aiming to enhance portfolio value over time without day-to-day involvement.
Binance Earn provides flexible options for instant liquidity access alongside fixed-term products for defined commitments, catering to diverse strategies and risk appetites.
“We’re seeing growing interest across Africa in ways to make crypto holdings more productive without active trading,” said Larry Cooke, Africa Head of Legal at Binance. “Simple, ‘set-and-forget’ solutions are becoming increasingly relevant as more users take a longer-term approach to digital assets.”
The feature reflects shifting user behaviour towards holding and gradual growth amid volatile markets, where reward rates fluctuate based on conditions, liquidity, and structures.
Users must assess risks and alignment with personal goals, as crypto remains volatile. Binance Earn positions itself as a key tool in Africa’s rising digital asset adoption, enabling hands-off participation in the ecosystem.
Telecom
New Gmail Scam Mimics Security Alerts to Steal User Data

Cybersecurity researchers at Malwarebytes Labs have exposed a sophisticated new Gmail scam where fraudsters send fake Google security alerts via phishing emails, texts, and pop-ups, tricking users into a deceptive four-step verification process that harvests login credentials, GPS locations, contacts, and other sensitive data for account takeovers.

Gmail
Disguised as routine checkups, these alerts mimic Google’s official pages to create urgency, prompting victims to install malicious “security tools” that grant hackers real-time access to Gmail and linked services—Corey Donovan, president of Alta Technologies, warns legitimate checks never come unsolicited or demand downloads, urging users to close suspicious prompts immediately and verify via official Google account pages instead.
The scam’s rise amplifies risks during travel, where public Wi-Fi hotspots—especially “evil twin” fakes like slight misspellings of “Airport_Free_WiFi”—enable interception of banking details, emails, and malware installs; Donovan advises disabling auto-connect, using VPNs for HTTPS sites only, avoiding logins altogether, and crafting strong passwords with mixed characters plus two-factor authentication.
Shoulder surfing on public transport and outdated devices compound threats, as fraudsters glimpse screens or exploit unpatched vulnerabilities—keeping phones updated with post-update privacy reviews limits app access to location or commutes, while skipping work emails in view maintains confidentiality on the go.
Nigeria’s heavy reliance on digital banking and crypto heightens vulnerability, as scammers exploit rushed travellers; Donovan stresses: “Cybercriminals target busy airports and stations knowing guards drop—stay cautious, update devices, lock privacy, and never rush links to protect against these advanced breaches.”
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