VAST Networks, once valued at over R1 billion, was shut down in 2019 after failing to turn a profit. Founded in 2014 as a joint venture between Dimension Data and Naspers, the company aimed to provide carrier-grade Wi-Fi across Southern Africa. Despite significant investment and expansion, VAST struggled to monetize its services. After unsuccessful sale efforts, the company’s assets were liquidated in 2021, fetching just R492,295 at auction.
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The seventh BizNews Conference, BNC#7, is to be held in Hermanus from March 11 to 13, 2025. The…
