Strong Performance Among JSE-Listed Tech Firms in 2025
In 2025, several technology companies listed on South Africa’s Johannesburg Stock Exchange (JSE) experienced significant share price increases. Notable performers included Weaver Fintech, Blue Label Unlimited, MTN Group, iOCO, and Telkom, each posting gains of over 70% throughout the year.
Underperforming Giants in South Africa’s Tech Sector
Conversely, some of South Africa’s prominent technology firms faced challenges, with Mustek, Altron, Reunert, Lesaka Technologies, and Bytes Technology Group seeing declines in their share values, excluding dividends. This disparity highlights the varied performance landscape within the sector.
Insights from TechCentral’s Analysis of JSE Technology Stocks
TechCentral conducted a thorough analysis of the share prices of 12 companies within the JSE’s technology sector. This analysis also considered technology-driven businesses that don’t fall within traditional categories. While carriers like Vodacom Group, MTN Group, and Telkom were included, the analysis excluded Cell C, newly listed on November 27, 2025, and fintech newcomer Optasia.
Year-over-Year Price Comparison for Major Stocks
The evaluation involved comparing each stock’s closing price from January 3, 2025, to that of January 2, 2026. The analysis also encompassed MultiChoice Group, presently delisted, but only until its delisting date of December 10, 2025. The following are the best-performing stocks in the JSE for the past calendar year.
Weaver Fintech’s Transition to a Data-Driven Business Model
Weaver Fintech, once known as Homechoice International, has shifted successfully from a mail-order specialist to a data-focused fintech corporation. Offering loan services, insurance, and “buy now, pay later” (BNPL) options, it now serves over 3.7 million customers. The company’s BNPL service, PayJustNow, has emerged as a leading solution in South Africa, allowing customers to manage payments for high-value items effectively.
Achievements and Challenges for Blu Label Unlimited
Blu Label had a remarkable year in 2025, undertaking a significant restructuring of its operational model alongside the successful listing of Cell C in the fourth quarter. Rebranding efforts transformed Blue Label Telecoms into Blu Label Unlimited Group. The company witnessed a substantial rise in its share price, which surged to over R17 in August, more than tripling its January opening price. However, following the release of its annual results in August, the stock dropped by over 20%, indicating market expectations for a quicker recovery.
MTN Group’s Recovery from Previous Challenges
MTN Group’s share price demonstrated a remarkable rebound, reflecting a turnaround after a challenging year in 2024 marked by macroeconomic pressures, particularly in Nigeria. In the first half of 2025, MTN reported a 23.2% rise in services revenue to R105.1 billion, with comprehensive earnings per share soaring by 300% to R6.57, reversing significant previous losses. By November, MTN had celebrated a milestone of surpassing 300 million customers, closing at R169.92 on January 2, showcasing 82% annual growth.
iOCO’s Successful Turnaround Strategy
iOCO, formerly EOH, demonstrated compelling growth in 2025 due to its effective turnaround strategy focused on reclaiming market share and restoring its image. Completing its financial year on July 31, the company reported profits of R258 million, a significant recovery from a R54 million loss the previous year. With a staggering 257% increase in operating profit, iOCO’s strategic changes—including a revised management structure and rebranding—contributed to a burgeoning profit per share, nearly doubling from the previous year.
Telkom’s Reinvention and Return to Dividends
Once a state-run monopoly, Telkom has repositioned itself as a strong competitor in South Africa’s telecommunications arena, particularly within the growing prepaid market. 2025 marked the return of dividend payments for Telkom after a four-year hiatus, distributing R1.3 billion to shareholders following the profitable sale of its mast tower business, Swiftnet. The company’s “One Telkom” strategy has fostered sustained revenue growth, bolstering EBITDA margins and overall financial performance despite challenges in the South African market.
