Mergers, Acquisitions and Financial Results Archive

Telecoms in Africa

AfDB Supports Satellite Communication in Africa-A Senior Loan of US$ 25 million to finance the New Dawn Satellite Project

The Board of Directors of the African Development Bank (AfDB) Group on Wednesday in Tunis approved a loan of US$ 25 million for the New Dawn Satellite Project. The project…

On The Money - In Brief

- Hutchison Telecommunications International Ltd., a majority shareholder in Kasapa Telecommunication Company in Ghana, said it will invest $5 billion from the sale of its Indian unit in new and…

IT GETS DARKER ALL THE TIME IN TELKOMLAND: THE HIGH COST OF TELCORDIA DISPUTE

Last week, this column noted how Telkom had been roughed up by the Supreme Court of Appeal, and how it now faces the very real prospect of paying up to…

DIALOGUE AIMS FOR R40 MILLION IN ALTX DEBUT

Call-centre operator Dialogue Group is planning to raise about R40m to grow its business by listing on the AltX in September. The company says it can more than double in…

Nigeria’s Government cancels NCC-Netvisa mobile phone anti-theft payment deal

The Federal Government at the weekend slammed a cancellation order on a deal approved by the Nigerian Communications Commission (NCC) to impose a mandatory monthly fee on all mobile phone…

Makamba and Mutasa buy out Telecel International’s Zimbabwe stake

Telecel Zimbabwe’s major shareholders James Makamba and Jane Mutasa have gained control of the firm after paying US$3.5 million to Telecel International for the an 11 percent stake. This brings…

Telkom South Africa could face crippling strike

Services at Telkom and the Post Office will be shut down if demands by workers are not met, the Communication Workers Union (CWU) said in Johannesburg on Wednesday.Mass action by…

Eaton Towers secures $60m for Uganda expansion

Eaton Towers, the African tower ownership and management company, has secured $60 million in debt financing from Standard Bank Group, acting through Stanbic Uganda, and the International Finance Corporation (IFC),…

AccessKenya FY revenues grow 75% to KES 1.6 bln

AccessKenya Group posted a 75 percent increase in revenue to KES 1.57 billion for the full year 2008. Pretax profit before extraordinary items rose by 65 percent to KES 211…

DELTA CAPITAL CAPITALISES ON BOOMING MARKET

Delta Capital has launched a US$75 million regional telecoms fund, to allow investors to take advantage of the strong growth in the industry. The Delta Capital Middle East and North…

On The Money - In Brief

- South African mobile phone operator MTN Group said it has paid $3.6 billion for its first settlement in its takeover of international mobile phone company Investcom. MTN confirmed that…

Morrocan Meditel Looking to Float 25% by Year-End

Moroccan telecoms operator, Meditel is planning to float at least a quarter of its shares on the local stock exchange before the end of this year, local newspapers reported. The…

South Africa’s mobile operator, Cell C Improves, But Still No Net Profit

Cell C has made an operating profit of US$4.9 million in its most recent trading quarter, showing that efforts to turn the company around after six years in business are…

On the Money News - In Brief

- In South Africa, banking group Absa and cellular network operator Vodacom have signed a “multimillion-rand agreement”, which they say will “accelarate the pace of mobile innovation and expand the…

Ghana called on to list Vodafone, Airtel shares

Leading officials within the Ghana government have called on the country to float its minority shares of Vodafone Ghana and Airtel Ghana in an effort to boost productivity and trade…

Vimpelcom explores sale of African, Asian units

Amsterdam-headquartered, New York-listed international telecoms group Vimpelcom intends to sell several of its businesses in emerging markets across Africa and Asia, as part of a rationalisation of the group’s global…

Zain joint venture buys 31% stake in Wana

Kuwait’s Zain Group announced on Saturday it has agreed to buy a 31% stake in Moroccan fixed-wireless and mobile operator Wana via a newly established joint venture. Zain Al Ajial,…

ZANTEL PAYS 350M DIVIDENDS TO ZANZIBAR GOVERNMENT

Zantel, a cellular phone company has paid TS350 million (US$285,000) to the Zanzibar government as its share of dividend for a two year period from 2005-2007. Zantel board chairman Salem…

VODACOM OFFERS $480M FOR MTEL IN NIGERIA

In May 2007, South Africa's Vodacom has signified its seriousness to acquire a majority stake in NITEL's mobile subsidiary, Nigerian Mobile Telecommunications Limited (MTel), with an offer of $480 million to…

DATATEC TAKES OVER UK HARDWARE, SOFTWARE AND SERVICES COMPANY

Technology group Datatec has made the first move to spend some of the £13,9m it raised through a secondary listing in London, by spending £6m on a UK company. The…

UGANDA’S UTL LISTS SHS 30BN BOND TO FUND EXPANSION PLAN

Uganda telecom limited (utl) has issued a Shs 30bn bond due in 2008, says utl boss Aimable Mpore. This is part of its Shs 54bn Medium Term Note Programme (total…

South Africa’s Altech increases profit by 17%

JSE listed Allied Technologies Limited (Altech) has announced the group’s interim results for the six months ended 31 August 2009. “I am particularly pleased with the strong performance that has…

Chinese Invest Big Into IT and TV in Rwanda

A Chinese based company has officially launched a subsidiary in Rwanda to provide digital Pay-TV and broadband Internet services. The locally registered Star Africa Media Co. Ltd is a subsidiary…

Rwanda: Financial Literacy Game Launched in Schools

Visa Inc. and the government of Rwanda on Wednesday officially launched financial literacy in schools across the country dubbed 'Visa Financial Football game.'Financial Football is a free computer game that…

Wendel to buy stake in IHS Holding

European investment firm Wendel and its subsidiary Oranje-Nassau Developpement have announced the signing of an agreement with IHS Holding to acquire an equity stake in the tower company. Wendel will…

Nigeria’s First Bank and Others Finance US$240 Million for MainOne Fibre Cable

First Bank of Nigeria Plc in collaboration with Skye Bank and African Finance Corporation (AFC), have signed a US$240 million financing deal with MainOne Cable Company, a private sector-led initiative…

On The Money - In Brief

- Telecom Egypt has released financial results for the twelve months ended 31 December 2008, revealing a 10% rise in net profits against the same period a year earlier to…

Rwandan Govt, World Bank Pen $24 Million ICT Deal

The World Bank last week signed the recently approved $24m (approx. Frw13Bn) infrastructural grant with the Government of Rwanda. The grant will finance the availing of broadband infrastructure to different…

ODD COUPLE TELKOM AND VODACOM MAY PART

Telkom and Vodacom are sending out signals that their long and often fiery relationship is coming to an end, with Telkom looking likely to sell its 50% stake to Vodacom's…

GHANA TELECOM DEBTORS COULD NEGOTIATE PAYMENT TERMS

Ghana Telecom Company in the Volta Region has asked its debtors to come forward and negotiate concessionary terms for repaying their accumulated debt of five billion cedis. Osei Afriyie, a…

READERS’ RESPONSES:

ISSUE 334: BATTLE FOR CHEAP EDUCATION COMPUTER HOTS UP I read about the cheap laptops in Balancing Act today. I have been wondering at Negroponte's success at deceiving the ICT4D…

NEW KENYAN ORGANISATION TO HELP ICT ENTREPRENEURS

There is a new private technology business development network - c4IDEA.com - with a mission to promote the rapid growth of innovative and profitable technology-driven ventures in Kenya, was launched…

NDEGWA FAMILY BUYS AFRICAN LAKES TECHNOLOGIES FROM TROUBLED GROUP

The troubled African Lakes group is selling African Lakes Technologies to the Kenyan Ndegwa family. The company has been based in Kenya for two years, having moved its main operation…

Globacom denies owing billions of naira to distributors

Nigeria’s second telecommunications carrier, Globacom, has denied that it is owing its distributors billions of naira and is treating them unfairly. Bode Opeseitan was speaking in response to questions by…

IN BRIEF:

- Mobinil Egypt has reported its results for the second quarter ended 30 June 2007 which show sales rose 37% year-on-year to EGP2.07 billion (US$370 million). EBITDA climbed 28.3% to…

ICT gets lion's share of venture capital funding

THE information and communications technology (ICT) sector attracted the lion's share of venture capital funding in the three and a half years to July, according to data released this week.A…

SA’s Naspers rumoured to be buying Souq.com

South African media giant Naspers is rumoured to be acquiring a stake worth approximately US$40 million in Al Jabbar Internet Group's subsidiary Souq.com, in the largest investment in an e-commerce…

MTN, Telkom outsourcing deal talks drag on

South African operator Telkom has disclosed that it remains in discussions with rival MTN in regards to the potential extension of the existing roaming agreement between the two companies to…

Mauritius Telecom profit down 5%, listing still on

Mauritius Telecom said 2008 post-tax profit fall 5 percent to 1.9 billion rupees ($59 million) on increased interest payments. Mauritius Telecom, which dominates the fixed line and mobile markets and…

Local shareholders looking to sell their Vodacom Tanzania stake

Tanzanian shareholders holding a 35% stake in domestic mobile operator Vodacom Tanzania have reportedly approached the regulator, the Tanzania Communications Regulatory Authority (TCRA), seeking permission to sell their shares to…

IFC INVESTMENT HELPS IMPROVE AND EXPAND MTC-CELTEL MOBILE SERVICES IN FIVE AFRICAN COUNTRIES

IFC, the private sector arm of the World Bank Group, last week announced that it will provide financing to five subsidiaries of Celtel International B.V. to help expand and upgrade…

EGYPT'S ORASCOM TELECOM SAYS Q1 NET INCOME UP 7 PCT

Egypt's Orascom Telecom Holding (OTH) , one of the biggest telecommunications firms in the Middle East, said on Tuesday net profit rose 7 percent to $168 million in the first…

On The Money - In Brief

- CommuniTel has rejected a public overture to join forces with empowerment consortium Nexus Connexion, which has been guaranteed a 19% stake in the second telephone network operator.   -…

KENYAN INVESTMENT FIRM SEEKS TO INTEREST MTN IN VIVENDI’S SAFRICOM STAKE

A leading Kenyan investment firm said last week it had approached South Africa’s MTN Group to lead a consortium in bidding for a stake in the country’s second largest mobile…

On The Money - In Brief

- The African Development Bank Group (AfDB) and Main One Cable Company on Wednesday signed a loan agreement of $61 million towards the development of a submarine fiber optic cable…

Money News - In Brief

- Hunger Safety Net Programme (HSNP) is an unconditional cash transfer programme targeted at the chronically food insecure. The goal of the HSNP is to reduce extreme poverty in Kenya.…

Bank of Africa deploys Clear2Pay mobile banking solution

The Bank of Africa is to provide customers in thirteen countries with further mobile financial services after inking an agreement to use of Mobile Internet Banking (MIB) solution provided by…

Zimbabwe: Mugabe Nephew's Telecel Zimbabwe Bid Challenged

President Robert Mugabe's nephew Patrick Zhuwawo's bid to take charge of the country's third biggest mobile network Telecel Zimbabwe was challenged in the High Court on Tuesday.Zhuwawo recently published a…

Sierratel secures USD29 million expansion loan from India

The Sierra Leone Parliament ratified a loan agreement of $29,452,856 for the modernization and expansion of the network and telecommunications infrastructure of Sierratel. The loan agreement was provided by the…

Vodafone Egypt expects revenue growth slowdown in 2008

Wireless operator Vodafone Egypt expects revenue growth to slow to between 18%-20% in 2008, Reuters is reporting, with the cellco claiming that the increased competition and market penetration in the…

Beget Pins Hopes On Schools Business in South Africa

Beget is pinning its recovery hopes on a deal to serve as a sub-contractor on a much-delayed tender to supply internet access to schools in Gauteng. The technology developer produces…

CASH-FLUSH VODACOM 'ON PROWL FOR MAJOR BUY'

Vodacom is planning a multi- million-rand acquisition to catapult it further in the internet arena, and has set its sights on a technology group that is welcoming its overtures. CEO…

RECOVERY SPARKS SPESCOM’S SHARES IN SOUTH AFRICA

Shares in telecoms company Spescom temporarily gained 16% last week to reach a 52-week high of 140c as it posted interim results showing a return to profitability. A year ago…

CORRECTIONS AND RESPONSES

ISSUE 46: LATE CORRECTION ON TANZANIA SPECIAL www.eThinkTankTz.org ISSUE 165: ZAMTEL HAS DIGITALISED 70 PERCENT OF ITS NETWORK Its the number of lines not the technology! Interesting to read that…

On The Money - In Brief

- Telkom has been accused of reaching a secret deal to drop a court case against its subsidiary, Vodacom, to avoid telling its new public shareholders about the potentially costly…

Money News – In Brief

- Gabon Telecom, part of the Maroc Telecom group, has reported that its total wireless, internet and wireline revenues grew by 28% year-on-year in the first nine months of 2012…

MTN South Africa reports 22% rise in first-half profit, beats market estimates

South Africa-based regional wireless operator MTN Group has reported a 22% increase in profits for the six months ending 30 June 2013, beating market expectations, buoyed by a strong rise…

Nedbank snaps up a third of GloCell

Nedbank Capital has acquired a 32,9% stake in cellular service provider GloCell in a private equity transaction for an undisclosed sum.GloCell is one of South Africa’s largest distributors of prepaid…

URA orders permits firm to pay sh5b

Face Technologies, the company which issues driving permits in Uganda, has not paid taxes in the past five years, the tax body has said. The Uganda Revenue Authority has consequently…

Guine Telecom to receive USD50m in Chinese investment

China is to invest USD50 million to develop telecommunications facilities in Guinea Bissau’s national PTO Guine Telecom under the terms of a bilateral agreement between the two countries. Guine Telecom…

Uganda’s ICT Ministry Fails to Utilise Sh5b budget money

The information and technology ministry (ICT) used only 19.4% of the money allocated to it during the 2007/08 financial year. The MPs on the ICT committee yesterday expressed surprise on…

VAT CONFUSION OVER NEW TELEPHONE TARIFFS IN NIGERIA

Confusion has continued to trail the adjustments made by mobile and fixed telecommunication operators to their tariffs as a result of the 100 per cent increase in the value added…

On The Money - In Brief

- Telecom Egypt (TE) has recorded a 9% increase in 1Q sales to EGP2.4 billion (USD426 million) compared to the same period of 2006. Net profit increased 22% to EGP585…

SUITORS TOO SLOW BUT ERP.COM DOOR IS OPEN

Software supplier ERP.com says talks with two potential bidders have come to nothing, prompting the withdrawal of a cautionary announcement to end the uncertainty over its future independence. The discussions…

On The Money - In Brief

- Mozambique’s Minister of Transport and Communications, Paulo Zucula, has revealed plans to partly privatise incumbent mobile operator, mCel. According to the plan at least 5% of company shares will…

On The Money - In Brief

-Western Union and Orascom Telecom have teamed up to introduce mobile remittance services across some of Orascom's markets in the developing world. The idea is to offer a 'low-principal, high-frequency…

Growth strategy pays off for Vox Telecom

Strong organic growth and strategic acquisitions boost alternative telco’s performance Alternative telecommunications operator Vox Telecom has announced a 231% jump in revenues, to R869 million, in its unaudited results for…

On The Money - In Brief

- Telkom South Africa has reported an 8.4% rise in operating revenue to ZAR51.62 billion (USD7.32 billion), though operating profit fell back 1.4% to ZAR14.47 billion. The fall in earnings…

CORRECTIONS

Issue 354: Kenya Special The average price of a DSL subscription should have been KS3,000 (US$45), not KS30,000. This makes it one of the cheaper broadband prices for a country…

NIGERIAN MTC ANNOUNCES IMPROVED EARNINGS

The Mobile Telecommunications Company (MTC) has announced its first quarter 2006 results, reflecting increased earnings The financial highlights of the results released weekend showed that subscribers' base had climbed to…

Vodacom announces BEE partners

Vodacom announced the preferred strategic partners for the Vodacom South Africa BEE transaction Alan Knott-Craig, CEO of Vodacom Group, today announced the preferred strategic partners for the Vodacom South Africa…

WHAT READERS SAY

ISSUE 358 – BGAN LAUNCH CORRECTIONS In this issue you stated that Inmarsat had re-launched its Regional BGAN Service. In fact, the system is not Regional BGAN (RBGAN) which will…

ZIMBABWE NET*ONE ON THE LOOK FOR A BUYER

Talks to dispose of a 49 percent stake in Zimbabwe's ailing state-owned cellular operator, Net*One, have reached a crucial stage, with South Africa's MTN understood to be one of the…

GILAT BUYS OUT IP PLANET

Israeli Gilat Satcom Ltd , a wholly owned subsidiary of Satcom Systems Ltd., has announced the acquisition of another Israeli company IP Planet Network Ltd. Both are major satellite bandwidth…

ECONET CHALLENGES TAKEOVER BIDS FOR ECONET WIRELESS NIGERIA

Zimbabwe’s Econet Wireless International (EWI) is challenging the legality of potential take-over bids from South Africa’s Vodacom and Egypt’s Orascom Telecom for Econet Wireless Nigeria (EWN), the second largest mobile…

Mauritius Telecom reports rising pre-tax profits

Mauritius Telecom (MT) said pre-tax profits rose 17% year-on-year to MUR2.4 billion (USD89.1 million) in 2010, driven by strong growth at its mobile division. MT added that net profits rose…

Telecom firm injects $100m for facelift

Dar es Salaam. Vodacom Tanzania managing director Rene Meza has said his firm plans to invest more in building mobile data business, network operations, and financial distributions to boost and…

Orange Uganda launches mobile money

French-owned mobile network provider Orange has launched its mobile money service in Uganda in partnership with Post Bank and Pride Microfinance, two of the country’s major financial institutions.Orange Uganda CEO…

South Africa’s Broadband Infraco posts another loss

State-owned broadband infrastructure operator, Broadband Infraco has reported a 40% decline in revenue for the financial year ended March 2013, to R237.4 million, citing shrinking volumes of business from Neotel.The…

Millicom Acquires 88 per Cent Stake in Rwanda’s Rswitch

Tigo-RwandaMillicom, which runs Tigo Rwanda has said it has bought an 88 per cent stake, RSwitch, a national payment switch. The controlling stake was bought from Frankfurt-based African Development Corporation.RSwitch…

On The Money - In Brief

- Wireless holding group Millicom International Cellular has reported first quarter results for the three months ended 31 March 2008 which show a 42% increase in revenues to USD801 million…

On The Money - In Brief

- Dimension Data today reported revenue growth of 15.9%, to $1.45 billion, with both group operating profit and group operating margin increasing “considerably” for the first six months ended 31…

UNISYS SELLS BEE STAKE

Unisys has become the latest multinational to sell equity in its local operation to a black economic empowerment (BEE) company. Unisys Africa announced that it had signed a letter of…

XANTIUM TO MAKE DEBUT ON JSE'S ALTX

Black-empowered Xantium Technology Holdings becamee the first company to make its stock exchange debut on the JSE Securities Exchange SA's AltX board last week, joining five other companies that switched…

CELTEL BURKINA FASO RAISES USD5.25 MILLION THROUGH PUBLIC BOND

Celtel Burkina Faso, MSI Cellular’s operator in West Africa, has become the first independent cellular operator in the region to raise money through a public bond, with the issue of…

Orascom Doubts Vimpelcom Can Resolve Algerian Dispute

The Chairman of Egypt's Orascom Telecom has expressed doubts about Vimpelcom's chances in settling the ongoing and lengthy dispute over Orascom's Algerian subsidiary with the Algerian government.Orascom Telecom is currently…

Cote d'Ivoire: Opinions Divided On Mobile Banking

With the introduction of 'mobile banking', mobile phone users can now do more than exchange information on their handheld devices: they can also perform financial transactions. The new mobile service…

Ethiopia moves on mobile money

After months of wrangling, the Ethiopian government has at last approved mobile money in the country and opened the door for banks and micro-finance institutions to provide transaction-based banking online.The…

Vodafone Mulls $6 Billion Spoiler Bid for Maroc Telecom

Flush with expectant cash from the sale of its Verizon stake, Vodafone is reportedly mulling a spoiler bid to buy a majority stake in Maroc Telecom, which is currently up…

Altobridge Files for Bankruptcy - 130 Jobs at Risk

An Irish telecoms provider, Altobridge that specialized in rural network infrastructure has filed for bankruptcy.A short statement on the company's website confirmed the development. The news could put around 130…

READERS RESPONSES:

ISSUES 294 & 304 – CAMEROONIAN ISPS I was just reading the article on the revolution Kikao has brought for Internet users in Cameroon and kind of got mixed feelings…

CHOICE BUYS ITSELF OUT OF DIMENSIONS DATA IN SOUTH AFRICA

Two years after announcing plans to buy itself out of the Dimension Data stable, black-empowered Choice Technologies has found an investor to fund the move. Choice approached the National Empowerment…

On The Money - In Brief

- Billionaire Naguib Sawiris said Wind SpA, the unprofitable Italian phone company he's offered to buy for 12 billion euros ($15.4 billion), will eventually be merged with Orascom Telecom Holding…

BYTES TECHNOLOGIES TAKES TOUGH LINE ON TAKEOVER OFFER FROM CS HOLDINGS

Shareholders in tarnished technology group CS Holdings are to be offered a cash payment of 5c less than last week's trading price in a take-it-or-leave-it offer from Bytes Technologies. Bytes…

On The Money - In Brief

- The Nigerian Stock Exchange (NSE) announced that the planned IPO for the state-owned telecommunications company, NITEL, would be launched in November. The IPO will be Nigeria’s largest offering and…

France Telecom Demand for U.S.$385 Million Compensation Over Telkom Kenya's 'Vanished' Assets

France Telecom will start negotiations with the Government a sum in compensation almost equal to the purchase price of the company because it says that it is not able to…

South Africa: Vox Telecom results a mixed bag

Vox Telecom released it’s results for the six months to the end of February 2011, claiming that although their financials are under pressure, the Group’s strategy is “on track.” The…

Zambia: CSO Switches to New Inflation Technology

The Central Statistical Office (CSO) will start using new technology to calculate the national inflation rate to improve efficiency and transparency, director John Kalumbi has said.Mr Kalumbi said the new…

Kenya: M-Pesa Agents Conned By Safaricom 'Engineers'

Embu West District Security Committee has raised the alarm over theft from MPesa outlets.The committee chairman, acting DC Daniel Obudo said conmen pretending to be Safaricom engineers have swindled M-pesa…

Nigeria’s Globacom sets its sights on Comium takeover

Nigerian integrated telecoms firm Globacom has set its sights on struggling Ivorian cellco Comium Cote d’Ivoire, Agence Ecofin reports, quoting a source close to the company’s owner, Dr Michael Adenuga.…

Benin determined to sell 80% of Libercom to international investor

In a statement issued on 20 February 2014, the Beninese government announced its decision to open the capital of Libercom an international private telecom operator. Libercom is the mobile subsidiary…

Tingo Eyes $25m Deal For 51% Stake In Nigerian Telco

Indigenous phone maker, Tingo Mobile has expressed interest in acquiring a 51 percent stake in Lagos-based Mass Telecom Innovation Nigeria Plc (MTI) for $25 million as it bids to develop…

NIGERIAN NTERCELLULAR APPROVES US$137.5 MILLION DEAL

Shareholders of Intercellular Nigeria PLC. (INP), a pioneer wholly Nigerian-owned private operator has approved the offer of US$137.5 Million investment deal from South African telecom operator, GVT/Telecel. At the meeting…

APOLOGIES

Apologies to all our readers for sending out last week's issue twice. Due to a DNS resolution problem at our service provider the first issue appeared to disappear into a…

On The Money - In Brief

- Nile Satellite Company - NileSat announced 1H FY04 results ending June, in which bottom line advanced 14.3% to reach USD4.0 million versus USD3.5 million in 1H FY03. Sales revenue…

EGYPT’S ORASCOM COMPLETES FINANCING ON ALGERIAN DEAL

Orascom Telecom Holding (OTH) has announced the closing of €545 million in debt and equity financing by its mobile services subsidiary in Algeria, Orascom Telecom Algeria. A portion of the…

Uganda: Telecoms Funding Dries Up in 2010

Paul Busharizi and David Mugabe of New Vision spoke to Themba Khumalo, the MTN Uganda CEO, on the telecom industry projections, future investments and penetration. Q: Do you think the…

MTN South Africa net profit is down while revenues increase by 9.2%

MTN Group revenues increased by 9,2% to R111,9 billion and earnings before interest, tax and depreciation ("EBITDA") by 6.7% to R46,1 billion based on a sound operational performance for the…

Bharti Airtel to Pay $62 Million for Telecom Seychelles

Indian mobile operator, Bharti Airtel, said that its board had approved its acquisition of Telecom Seychelles in a deal valued at $62 million, in its bid to increase its presence…

Visa, Mastercard Eye Kenya as Use of Plastic Cards Rises

Use of plastic cards to purchase goods and services in East Africa is on the rise, as consumers shift from cash and cheques, latest statistics show. However, the value of…

MTN to boost service quality with USD1bn investment

Nigeria’s largest mobile operator by subscribers, MTN Nigeria, has confirmed it plans to invest USD1 billion in its wireless network during 2012 to improve the quality of services, citing MTN…

Nigeria Will not Licence Telcos for MobileMoney -Tunde Lemo

Tunde Lemo, deputy governor, Operations, at the Central Bank of Nigeria (CBN) has pooh-poohed what appeared to be the global model for mobile money payment system, the Kenya M-Pesa stating…

Maroc Telecom stake sale to be completed in two months

UAE Etisalat's planned deal to buy a majority stake in Maroc Telecom will be finalized in 1-2 months, Morocco's Minister of Foreign Affairs told reporters on Wednesday.France's Vivendi SA in…

What a carve up! Struggling yu subject to bids from Safaricom and Airtel

According to an unconfirmed report by Standard Media, Indian conglomerate Essar Group has received bids of up to KES8.5 billion (USD96.7 million) for an unspecified stake in Essar Telecom Kenya,…

MTN to Invest $350m in Uganda

MTN Group President and CEO Phuthuma Nhleko visited the country recently. Paul Busharizi talked to him about MTN's challenges in Uganda and their future plans. What is your impression of…

TELEKOM MALAYSIA SELLS OFF ITS MALAWIAN MOBILE STAKE

State-controlled Telekom Malaysia Bhd. said it is selling its 60 percent stake in Telekom Networks Malawi to Econet Wireless Global, a global telecommunications company, for US$24.5 million (euro20.1 million). Telekom…

EGYPTIAN TELECOMS SECTOR UNDERGOING RESTRUCTURING

After multiple postponements and much last-minute deal making, Vodafone Egypt, the country’s second mobile operator, has listed on the Cairo and Alexandria Stock Exchange (CASE). Meanwhile, news that the company…

Four of eight shortlisted companies submit Zamtel bids

Of the eight companies shortlisted in the sale process of a 75% stake in Zambian fixed line incumbent Zambia Telecommunications Company (Zamtel), only three have submitted bids. According to the…

Egypt: MobiNil aims for LINKdotNET deal completion within a month

Egyptian Company for Mobile Services (MobiNil), Egypt’s largest mobile network operator by subscribers, has revealed that it has set a deadline by which it aims to complete the acquisition of…

MTN Group has unveiled its financial results for the six months ended 30 June 2010

South Africa-based MTN Group has unveiled its financial results for the six months ended 30 June 2010, announcing an 11.4% increase in aggregate users, to 129.2 million subscribers. MTN hailed…

Money – In Brief

- The retail subsidiary of computing company Toshiba, Toshiba TEC, has bought a 12% stake in digital self-service company Yeahpoint, based in South Africa and Australia, to boost its presence…

On the Money – In Brief

- The United Bank for Africa (UBA), the-pan African banking group, has introduced Africard in Zambia to promote online shopping and payments in the southern African country. The product is…

Ghana to introduce internet-powered payment system for traders

The Ghana Interbank Payment and Settlement System (GIPSS) is to introduce an Internet-powered payment system that will link some local financial service providers with their counterparts in Nigeria and Francophone…

South Africa: Now Mabuza buys Telkom shares

Days after newly appointed Telkom CEO Sipho Maseko dug into his own pocket to buy up R1m of the telecommunications group’s shares, its chairman has now done likewise.Telkom revealed to…

Portugal Telecom to Sell More of Africa Holding; To Keep Majority Stake

Portugal Telecom plans to sell a further stake in its Africa Holding, but wants to keep a controlling position, deputy Chief Operating Officer Zeinal Bava said Wednesday on the company's…

On The Money - In Brief

- Britain's BT is reportedly interested in a possible stake acquisition of the Algerian state-owned phone company Algerie Telecom. According to business sources in Algiers, a mission will take four…

VODACOM BID TO ENTER NIGERIA HITS NEW HITCH

Vodacom’s bid to enter the Nigerian cellular market, by buying 51% of Econet Nigeria for 230m, is starting to look shaky, after the signing of the deal was postponed without…

Didata All Set for 'Sweet Spot of IT Spend'

Dimension Data Holdings expects to deliver modest constant currency revenue growth in the year to next September as the IT services solution provider's markets are likely to improve, says CEO…

Nigeria’s centre switch Begins Operation

A major landmark achievement had been made in the nation's e-payment system, following the completion of the Nigeria Central Switch (NCS) project by the Nigeria Inter-Bank Settlement System (NIBSS), a…

Accesskenya Blames Weaker Shilling for Profit Drop

Internet service provider, AccessKenya has reported a 59 per cent drop in profit after tax, which the company attributes to price cuts and a weaker Kenyan shilling. The earnings after…

MTN launches mobile money transfer in Rwanda

MTN Group and MFS Africa today announced the launch of an online money transfer service. MTN Mobile Money customers can now receive international remittances directly on their mobile phones. The…

Money News in Brief

- Equity Bank and MasterCard on Tuesday announced the launch of Equity Debit and Credit cards featuring MasterCard's PayPass technology. This makes Kenya and Equity Bank the first in Africa…

Nigeria Makes Another Attempt At Selling State-Owned Networks

Nigeria's National Council on Privatisation (NCP) has formally appointed a liquidator to sell the assets held by the state owned landline network, Nitel and its MTel mobile network subsidiary.The company…

GFH to Invest Three Billion Dollars in 'Tunis Telecom City' Mega-Project

President Zine El Abidine Ben Ali was briefed last Thursday about a project by the international financial company, Gulf Finance House (GFH) to set up a 3 billion dollar mega-…

African Drive Pays Dividends for ACTowers

Buyoant conditions in the cellular market and the eager pursuit of opportunities in Africa have paid off spectacularly for African Cellular Towers (ACTowers), which constructs cellular masts and exports them.…

LETTER FROM BURKINA FASO

I live and work in Burkina Faso and of course use internet access and have been excited to see the arrival of DSL to the capital , Ouagadougou, and access…

VODACOM HEADS OFF FOR NIGERIA WITH TELKOM IN TOW

Vodacom Group has dragged along its parent company, Telkom, Africa's largest telephone group, in its second attempt to enter the Nigerian cellphone market after the botched bid for a controlling…

TELECOM NAMIBIA’S MUNDO STARTEL STAKE CONFIRMS ITS ENTRY INTO ANGOLA

Telecom Namibia announced its entry into the Angolan telecommunications market with the acquisition of a 44% stake in Mundo Startel, reports The Namibian. The deal, which was sealed in Luanda,…

On The Money - In Brief

- Telecom Egypt’s chairman, Eng. Okeil Bisheer, said that the offering of Telecom Egypt shares in the capital market would not take place before September 2004, at which time the…

Kenya: Safaricom Changes Method of Recruiting M-Pesa Agents

Leading mobile phone provider, Safaricom, is changing tack on its method of recruiting mobile money transfer, M-pesa, agents by introducing a new system known as Aggregator Model, which removes the…

On The Money - In Brief

- The Egyptian government is believed to be considering the sale of a portion of its 80% stake in fixed line incumbent Telecom Egypt, Reuters reports. A final decision has…

Zimbabwe: Leo Mugabe Eyeing 20 Percent Telecel Stake

President Robert Mugabe's nephew, Leo, is positioning himself to snap up a 20% stake in Telecel Zimbabwe amid reports of an escalating fight to control the country's second largest mobile…

On the Money News: In Brief

* Reuters reports that Russia’s Vimpelcom and Naguib Sawiris are ‘close’ to signing a term sheet for the sale of the Egyptian tycoon’s holding company Weather Investments, which owns 50%-plus-one-share…

Millicom Profits Jump on Higher Revenues

Millicom International has reported that its second-quarter revenues rose by 14.6% to US$1.12 billion, boosted slightly by currency fluctuations. Revenues were up 20.7% excluding the impact of the full consolidation…

DRC court suspends auction of Vodacom unit shares

The Democratic Republic of Congo Supreme Court has suspended a planned mandatory auction of shares in the local unit of South African mobile phone provider Vodacom, the parent company said…

Naspers Sells $750 Million in Africa’s First Debt Sale Since May

Naspers Ltd. (NPN), Africa’s largest media company, sold $750 million of seven-year debt in the region’s first overseas corporate bond sale in two months as it seeks funds to pay…

Business Connexion & Telkom merger still on track

Business Connexion (BCX) has revealed that Telkom has made an offer to acquire the entire share capital of BCX by way of a scheme of arrangement.According to BCX, the Long-Stop…

Workers Seek Review of Nitel/Mtel Privatisation in Nigeria

Telecommunication workers under the aegis of National Association of Telecommunications Employees (NATE) and the Senior Staff Association of Communications, Transport and Corporations (SSACTAC) have called on the Minister of Information…

Nigeria’s Federal Government to sell shares in Galaxy Backbone

Plans are underway by the Federal Government to sell stakes in Galaxy Backbone Plc, but Government will still retain a strategic hold on the government-owned infrastructure service provider for security…

On The Money - In Brief

- Celtel International has completed a USD74 million refinancing deal in Kenya which will fund network rollout across the country. The syndicated loan will mature in five years. Parent company…

On The Money - In Brief

- SA’s AST has reported positive earnings before interest, tax, depreciation and amortisation for the six months to December, compared with a loss for the previous interim period. A headline…

READERS RESPONSES

ISSUE 187: POSTCARD FROM WSIS IN GENEVA - EVERYBODY KNOWS THIS IS NOWHERE Splutter, choke, cough, wheeze...I don’t believe it. Here I am, setting up the plan for obliterating the…

On The Money - In Brief

- Tanzania’s communication sector has emerged as a strong growth-driver of the economy for the year 2008/09. According to the Minister for Finance and Economic Affairs Mr Mustafa Mkulo, the…

Vodacom Savings Plan May Hit Distribution Partners in South Africa

Vodacom is targeting R500m in savings next year, a move that is likely to negatively hit distribution service providers.Vodacom's direct costs, which includes distribution of starter packs, are R20bn, while…

Kenya: Safaricom Cancels 27 Contracts Over Fraud

Listed mobile service provider Safaricom has terminated its contracts with at least 27 dealers over alleged fraud.The company announced the decision  lastTuesday to allow for investigations into a suspected fake…

Africa Cellular Towers Forced into Liquidation by Creditor

South Africa based Africa Cellular Towers (AC Towers) has been placed into provisional liquidation after a major creditor sought a winding up of the company last Friday.The company, listed on…

Tanzania’s government securities go online

Bidding for government securities in Tanzania has gone online courtesy of a new system launched by the Bank of Tanzania (BoT). The new online system for bidding government securities has both…

TNM net profit more than doubles

Telekom Networks Malawi (TNM), the country’s second largest mobile operator by subscribers, has posted net profit after tax of MWK5.243 billion (USD11.9 million) for the twelve months ended 31 December…

MTN, Bharti resume merger talks

Merger talks between India’s largest carrier, Bharti Airtel, and pan-MEA operator MTN have been restarted a year after they were last abandoned. The news comes in the wake of the…

South Africa’s WebAfrica sells stake to fund own network

The Competition Commission has approved the sale of a 30% stake in internet service provider (ISP) Web Africa to Vodacom reseller the Smartcom consortium. According to Matthew Tagg, MD of…

On The Money - In Brief

- Telkom South Africa says it expects first-half earnings per share (EPS) to fall by between 14% and 20% compared to 1H 2006. The firm says earnings are being hit…

GHANAIAN SHAREHOLDER TUSSLE - AREEBA BATTLE TO BE JOINED

Ruling on arguments to set aside an action against Areeba by a Ghanaian businessman, Richmond Aggrey, over the sale of the company for $5.83billion to MTN Incorporated of South Africa…

ECONET TO SEEK SHARE REVERSAL SPLIT

ECONET Wireless Holdings Limited will be seeking shareholder approval at its forthcoming annual general meeting, slated for October 28, for a share reversal split of a maximum of 10 percent…

CORRECTION

ISSUE 236: ANGLO-AMERICAN FIXED AND MOBILE CONSORTIUM KNOCKING ON DRC'S DOOR British Telecom is not involved in setting up a consortium in DRC and Rob Hewitt (named as a BT…

RESPONSES

Issue 193: Telecentres special: Reaching those parts the market cannot yet reach I am Italian consultant, and I want to point out that the market, and the organization I work…

Customers Owe Over Akz 144 Million to Angola Telecom

The customers of the Angola Telecom, among individuals, public and private institutions, owe up to a total of about AKz 144,6 million to the referred telecommunications company since 2000 in…

ICT Company Seeks Investor for $50m Fixed-Line Deployment Project

Nigeria's robust mobile telecommunications market (GSM network) has obscured the urgent need for a fixed line broadband network that can provide stable, high speed, high quality and low cost connectivity.The…

Vodacom‘s revenue growth fuelled by new subscribers and data services

Vodacom signed up new 1,2m customers in SA in the first quarter of its 2012 financial year, taking its total subscriber base in the country as measured by active Sim…

Money News - In Brief

- Liberian mobile operator Cellcom, part of the Cellcom Telecommunications group, plans to invest up to USD60 million in new mobile technologies as it looks to overhaul its network and…

Kenya: Broker Back Office System to Help Curb Fraud At NSE

The NSE has rolled out an automated broker back office system that will reduce risks involved in securities trading at the bourse.It is anticipated that the BBO system will improve…

Orascom Egypt reports 66% plunge in net profit resulting from foreign exchange devaluation

Egyptian telecoms group Orascom Telecom has reported its fiscal results for the three-month period ended 31 March 2008, revealing a steeper than expected decline in net profit. Orascom posted a…

Kenya’s BPO sector faces bleak future as foreign deals dip

Hopes that the Government bandwidth subsidy to call centres would spur growth and increase employment in the sector could be dampened by the global financial crisis. At least two business…

SAFARICOM IN SKYHIGH GROWTH IN KENYA

Low denomination scratch cards and growing subscriber base have boosted Safaricom's income levels considerably. East Africa's largest mobile phone provider, Safaricom, has made a record pre-tax profit of KES 12.2bn…

ALTRON REPORTS SOLID INTERIM RESULTS BASED ON GOOD PERFORMANCE BY GROUP COMPANIES

The Altron group’s results for the six months ended 31 August 2005 have shown good growth with a 16% increase in headline earnings per share, 17% increase in revenue, from…

SA MINISTER ANNOUNCES SNO DATE AND SHAREHOLDINGS...FOR NOW

The Minister of Communications, Ivy Matsepe-Casaburri, has finally announced that the companies which will comprise the SNO will be granted a licence on 17 September. In her announcement, made during…

POOR RESULTS MAY PUSH TISCALI TO SELL ITS SOUTH AFRICAN BUSINESS

One of South Africa’s larger ISPs Tiscali South Africa might be sold by its Italian parent after the European business released a poor set of financiual results this week and…

South Africa: UCS Software Units to Merge Under Argility

Software group UCS will merge its software businesses by the end of the financial year to create an enlarged entity that will boost its market position.UCS will consolidate the software…

MTN BEE Shares Oversubscribed

Communications group MTN says its Zakhele Offer to the Black public to subscribe for approximately R1,6 billion worth of shares was oversubscribed more than 1.7 times. The offer raised approximately…

Money News - In Brief

- France Telecom is looking to buy a majority stake in Congo China Telecom, a mobile network operator in the Democratic Republic of the Congo, which is 51% owned by…

Money News - In Brief

- Bharti Airtel, the owners of Airtel Zambia has signed a strategic cooperation agreement with Sanlam, a leading South African financial services group for the distribution of insurance and health…

Eritrea's Eritel announces the selling of shares

In a move aimed at boosting the Eritrean telecommunications operator’s economic standing and liquidity, Eritel on Wednesday announced that it had begun to sell off a large number of shares.The…

MTN to offload its BTS in Rwanda and Zambia

South African telco MTN has received the first round of bids for its base transceiver stations (BTS) in Zambia and Rwanda, TMT Finance reports. According to the article, MTN is…

TTCL intends to acquire Airtel shares

National fixed line operator Tanzania Telecommunication Company Limited (TTCL) has reportedly indicated that it intends to acquire the 35% stake currently owned by Indian-backed operator Airtel, thus giving the government…

Vodafone, Vodacom alliance explore Nigeria market stakes through local subsidiary, Gateway Communications

World’s largest mobile phone company, Vodafone of UK and South Africa’s mobile phone company that it controls, Vodacom, are jointly intensifying their search for stakes in the Nigerian telecoms market…

On The Money - In Brief

- A Senate Extra-ordinary Session approved the Regional Communication Infrastructure Programme Rwanda project (RCIPRW) worth $24million. The project to be funded by the World Bank through the International Development Association…

Telkom South Africa Needs More Time for Talks on Its Convoluted Vodacom Transaction

A convoluted two-part deal for Telkom to shed its 50% stake in Vodacom and sell everything else it owns to a black empowerment group is taking a while to negotiate,…

SHAREHOLDERS GET IN TELKOM'S WAY IN SOUTH AFRICA

Telkom CEO Papi Molotsane and chairman Nomazizi Mtshotshisa couldn't have looked more uncomfortable when an elderly shareholder bustled to the podium after an exhausting two-hour annual shareholders meeting on Friday…

SOUTH AFRICA: VODAFONE PAYS R16BN TO ACQUIRE VENFIN STAKE IN VODACOM

In the second-largest foreign direct investment in post-apartheid SA, British-based cellular group Vodafone has made an offer to buy Venfin's 15% stake in Vodacom for R15,6bn to boost its holding…

BUSINESS CONNEXION GETS GREENLIGHT FOR BIDVEST DEAL

Business Connexion has Competition Commission approval for the acquisition of Bidvest Network Solutions (Bidnet). The transaction will be effective from November. Business Connexion's acquisition will give the company a foothold…

A WEEK OF MIXED NEWS FOR ECONET - TWO MONTHS TO PAY LICENCE FEE IN KENYA

Econet is a company about which there is never a shortage of news despite the fact that it is actually one of the smaller regional mobile players. The good news?…

On The Money - In Brief

- SA’s Spescom says the revised offer from black-owned fund management company Vantage Capital has received shareholder approval.

On the Money - In Brief

- Vodafone is in early stage talks about selling its controlling stake in Vodafone Egypt, the country's second-largest mobile phone operator, in a deal that could be worth BP3bn ($4.3bn).-…

iBurst invest R100m into fibre network in Gauteng

Privately held telecommunications company iBurst is investing more than R100m in a fibre-optic communications network in Gauteng to help it better address the corporate market and grow its retail consumer…

Telecom Italia down after Sawiris proposed $3.8 bln cap hike

Shares in Telecom Italia fall 1 per cent in early trading after Egyptian tycoon Naguib Sawiris put on the table a 3-billion-euro ($3.89 billion) capital hike.Sawiris told Reuters that he…

Kenya: Treasury to Formulate New Rules On Mobile Money Tax

The Treasury is working on new regulations on taxing mobile money transfer services aimed at leveling the playing field for all operators.Finance minister Njeru Githae said a 'minimum charge per…

Kenya: Orange, Airtel Gain Ground on Safaricom in Kenya

Airtel and Orange, Kenya's second and third largest mobile networks, have made the most of Safaricom's slide to gain market shares over the last quarter.Figures from the Communications Authority of…

Kenya to adopt regulatory mobile phone banking legislation

Kenya is set to adopt a series of laws aiming to regulate new areas of its financial sector, and particularly mobile banking. The new legislative package includes a project aiming…

Starcomms Makes History as the First Telecom Firm to List On Stock Market

Starcomms Plc, Nigeria's fourth largest telecommunications company yesterday made history in the industry by becoming the first operator to get listed on the Nigerian Stock Exchange (NSE). Before Monday's listing…

Simeka's Take over of Sahara is Off in South Africa

The ambitious R867m takeover of computer manufacturer Sahara by the far smaller technology group Simeka BSG has been scrapped, only four days after the pair announced the deal. Simeka CEO…

On The Money - In Brief

- The Kenyan government raised Sh2.5 billion (about US$35) from airtime charges in the first seven months of the year, according to the Central Bank of Kenya (CBK). Airtime revenues…

ECONET WIRELESS GROUP TO SEEK UK STOCK MARKET LISTING

Econet Wireless Group has announced plans to seek a listing on the London Stock Exchange (LSE) through an initial public offering that the company estimates will raise between US$400 million…

On The Money - In Brief

- Vodacom and Altech today confirmed that an agreement has been signed whereby Altech’s wholly-owned subsidiary, Altech Autopage Cellular, will be a preferred Independent Service Provider to the Vodacom network…

On The Money - In Brief

- South African information technology group Datatec last Monday announced that it has acquired United States group Solution Technology for a maximum consideration of USD15,7-million.The $15,7-million consideration for the acquisition…

CORRECTION

ISSUE 203: VODACOM RENAMES ECONET NIGERIA AND SNAPS UP 51% OF DISTRIBUTOR SMARTCALL While it is true that Vodacom Group (Pty) Ltd has acquired a 51% equity stake in Smartphone…

Mustek Rejects Datatec R101m Offer for Comztek

Datatec’s plans to bolster its African operations suffered a setback on Friday when Mustek 's board rejected its R101m offer to buy Comztek Holdings. Mustek, which owns 41.84% of Comztek,…

Affordable healthcare insurance product for Kenyans launched

Leading integrated communications provider Safaricom Limited has partnered with leading insurer Britam, Changamka Microhealth - one of Kenya’s pioneering mobile Health Financing technology providers and PSI, a leading global health…

MTN Guinea To Launch Data, Payment Services

Amid growing interest in mobile technology and infrastructure in Guinea, mobile services operator MTN Guinea has announced plans to roll out data and payment services in March.The company’s CEO Phumzile…

On The Money - In Brief

- All telecom operators in Uganda could be required to list a given percentage of their shares on the Uganda Securities Exchange (USE). "Subsequent to the proposed review, the issue…

As Mcel’s net profit is up by 12%, the company embarks on a large expansion plan in Mozambique

Mozambique's largest mobile phone operator, Mcel (Mocambique Celular), has guaranteed that all of the country's 128 districts will be linked to the Mcel network by 2009. At a meeting in…

Booming Mobile Sector Attracts $75 Million in New Investment in Uganda

A year ago, the government ended the duopoly that had given exclusive rights to MTN Uganda and Uganda Telecom Ltd. Barbara Among reports the Uganda communications sector attracted over Ush127.7…

TELKOM LESOTHO TO BE SOLD OFF BY ESKOM - ECONET HAS FIRST OPTION TO BUY

Eskom has announced that it will sell its interest in Mountain Communications, the consortium (with Econet) that owns Telkom Lesotho. Econet has a first option to buy out its consortium…

On the Money – In Brief

- Johannesburg — Vodacom said earnings per share and headline earnings per share for the six months to September will rise to between 285c and 307c.Vodacom said that earnings per…

Kenya: Safaricom Takes Battle to Banking Halls With M-Shwari

Vodacom director of Financial Services Micheal Joseph pose with models during the launch of M-Shwari money services at Windsor yesterdayThe thin line between Mobile money services and banking services has…

Money – In Brief

- Senegalese telecoms service provider Sonatel has reported an 11% rise in net income for the year ended 31 December 2012 to XOF171 billion (USD349 million), from XOF154 billion in…

Malawi: TNM plans to diversify through ISP acquisition

Telekom Networks Malawi (TNM), the country’s second largest mobile operator by subscribers, has revealed in an announcement on its website that it is currently involved in negotiations to acquire the…

South Africa’s Blue Label Seeks Opportunities in Latin America

Telecoms player Blue Label has set its sights on ambitious expansion in the emerging markets of Latin America by forming a joint-venture company in Mexico. Blue Label Mexico is owned…

Telkom Fee Cut to boost BPO activities in South Africa

The trade and industry department has delivered on one of the first targets in its industrial policy framework, clinching discounted telecommunications prices from Telkom to lure business services to SA,…

HUAWEI SELLS STAKE TO BEE CONSORTIUM

Telecommunications equipment maker Huawei Technologies has sold a 31% stake in its South African operations for R6,3m to Nulane Investments. The move will make the Chinese company fully compliant with…

Kenya: Safaricom Seeks State Partnership

Listed mobile phone firm, Safaricom Ltd is anchoring itself to provide shared services to the government as the latter moves to embrace information communications and technology. Though the government expects…

Money News in Brief

- South African investment firm Shanduka Group has bought a minority stake in MTN Nigeria from three private investors, reports Reuters. Without disclosing the size of the stake, Shanduka said…

Ghana: Tigo invests $3.2 Million in overhead fibre project

Tigo Ghana has started work on a USD 3.2 million overhead fibre-optic cable project. The project is part of efforts to boost customer experience in the Western and Ashanti regions.…

On The Money - In Brief

- In Kenya, some investors of the Safaricom Initial Public Offering (IPO) are yet to receive their share refunds over a month after the results were unveiled. The investors from…

Portugal Telecom Reports Strong African Growth During 2007

Portugal Telecom's subsidiaries in sub-Saharan Africa have announced an annual increase of 19.9% to 842.5 million euro, underpinned by a 52.3% increase in subscribers to 4.37 million. Africa Holding, a…

Cisco surprises with all-share equity deal in South Africa

Nasdaq-listed networking giant Cisco Systems has become the first US hi-tech company to sell shares in its business to local black investors. Cisco has shunned the route of equity equivalents,…

NIGERIA'S VGC COMM BOUGHT FOR US$100M, ADEBAYO RESIGNS

VGC Communications Limited, a wireline Private Telephone Operator in the Ikoyi and Victoria Island axis with a recent entry into Port Harcourt, has changed ownership. It has been bought over…

UCS LOOKS TO DOUBLE PROFIT ON CONSOLIDATION

Software developer UCS believes it can more than double profit margins in coming years, having consolidated six units into one and set up a software factory in Centurion. Consolidation has…

Zimbabwe Reaches Turning Point and ICT Investment Ramps Up

Zimbabwe has reached a turning point in its destiny and ICT markets in the country are taking off, according to a new study published by Technology Strategies International in partnership…

What's in It for Nitel’s future Core Investor?

The Nigerian Government confirmed that Transcorp will stay in place as the managers and owners of Nitel until a new strategic investor can be found. But a report in This…

On The Money - In Brief

- Egypt's Orascom Telecom and Kurdish operator Korek Telecom have agreed to a $2.2 billion joint venture that would provide immediate access to the northern region of Iraq and four…

BOTSWANA’S BTC POSTS USD23 MILLION PROFIT

Botswana Telecommunications Corporation (BTC) has announced a profit of P139 million (USD23 million), 18% more than the P118 million the corporation made in 2005. BTC is extremely pleased with its…

On The Money - In Brief

- There’s a rumour circulating that MTN will buy Econet’s Botswana operation Mascom Wireless. But as a reader, you will know that you should never believe rumours. - The Spanish…

MTN CONSIDERS LISTING IN NIGERIA

In a bid to broaden its Nigerian shareholder base, mobile phone company MTN Group (MTN) will consider some options including listing its Nigerian subsidiary in Lagos during the first quarter…

ECONET WIRELESS IN "BATTLE OF CONTROL" FOR ZIMBABWEAN TELECOMS BUSINESS

Econet Wireless, Zimbabwe’s largest mobile operator, is negotiating to acquire a yet-to-be-named telecommunications business, which was reported last week as a "battle of control" by founder and major shareholder Strive…

South Africa: Securedata Africa 'Stable and Ready for Growth'

Software firm SecureData Holdings said last week that its SecureData Africa division was now stable and well positioned to seek additional revenue growth. Earnings in SecureData Africa fell last year…

Treasury Opens Bids for Safaricom IPO in Kenya

The countdown to the Safaricom Initial Public Offer (IPO) began yesterday with the opening of the technical bids for consultancy services.The bids now go to the technical committee for evaluation.…

AccessKenya goes into the red in 2010

Stiff competition in the Internet market has pushed listed Internet service provider, AccessKenya into loss making. The firm, whose share price at the Nairobi Stock Exchange, early this month sank…

Algeria’ Djezzy GSM reports 2.6% growth in revenues to DZD36.7bn

 Algeria’s leading cellco Djezzy GSM has posted its financial results for the second quarter of 2013 ended 30 June, reporting 2.6% growth year-on-year in revenues to DZD36.7 billion (USD464.157 million)…

AccessKenya Maintains Positive Outlook of Year's Targets

Technology services company, AccessKenya, is braving turmoil in the economy from the recent post-election turmoil with a growth projection of more than 50 per cent. Jonathan Somen, the company's managing…

DIALOGUE TO RAISE USD7M AHEAD OF ALTX LISTING

Call-centre specialist Dialogue Holdings aims to raise R51m (USD7 million) in a private placement of 51-million shares ahead of its AltX listing on September 19. Institutional investors in SA have…

BOTSWANA - MTN’S MASCOM PURCHASE RUNS INTO DELAYS

South African-owned mobile group MTN's USD128 million bid to buy a 44% stake in Botswana’s largest cellco, Mascom Wireless, has not yet been finalised and the sale is still subject…

KENYAN TELECOMS SECTOR EXPECTS TO RING UP BILLIONS

Kenya's telecommunications sector expected to earn 70 billion Kenyan shillings (R5.65 billion) this year but faced challenges from government red tape and delays in truly liberalising the sector, industry analysts…

On The Money - In Brief

- Egypt’s Orascom Telecom is one of the bidders for state-run Pakistan Telecommunication Co (PTCL). - Enterprise solutions provider Baan announced last week that Invensys plc has approved the sale…

FUR FLIES AS SOUTH AFRICAN SNO BIDS COME UNDER ATTACK

It has not been a good week for the two bidders for the SNO franchise in South Africa. Many of those who are attacking the process have vested interests but…

Senegal: Sonatel taps African growth but liquidity a concern

Solid growth in West Africa's telecommunication markets will buoy shares in Senegal operator Sonatel throughout 2010, but the illiquidity of its stock on the regional bourse could hold back gains,…

Seacom hunts for investors in race to link EA to high speed Internet

A South African company last week raised the stakes in the race to connect East Africa to the global network of high speed Internet with an aggressive drive to recruit…

New Twist in NITEL Privatisation Raises Hope

Nigerians at the weekend hailed the decision of the Bureau of Public Enterprises (BPE) to open talks with Omen International Consortium, the reserved bidder for the privatisation of Nigerian Telecommunications…

Dimension Data extends AccessKenya offer

Dimension Data has announced that its offer to AccessKenya shareholders has been extended by one day, as a result of the Idd-ul-Fitr public holiday last Friday.AccessKenya said in a statement…

Gamtel close to bankruptcy, according to newspaper report

Barely less than one year, after Gambia's incumbent Gamtel was privatized, the Company is close to bankruptcy, according to highly placed company officials, who spoke to the local Freedom Newspaper.…

SOUTH AFRICA’S INTERCONNECTIVE SERVICES RISES ON BIGGER OFFERING, MARGINS

Voice and data specialist Interconnective Solutions has inched its way further into profitability by broadening the range of services it offers and concentrating on those with a fatter profit margin.…

On The Money - In Brief

- The Egyptian Cabinet has approved the offering of 20% of Telecom Egypt's shares to the public. The shares will be split into two tranches for individual investors and financial…

ICT ENTREPRENEUR FUND ENABLIS BROADENS NETWORK

Another 16 South African entrepreneurs have been inducted by Enablis, a Canadian government-funded organisation. The induction of 16 new members brings to 33 the total number of South African technology…

RESPONSES

ISSUE 158: AFRICAN INTERNET FRAUD BEYOND 419s Great article as usual - you said all that has to be said ... Nigerian connection, we have our Nima boys too. Again…

On The Money - In Brief

- A report in the Guardian newspaper says the government of Tanzania is preparing to acquire the remaining 35% it does not already own of national incumbent Tanzania Telecommunications Company…

MTN to Buy UBA-Owned XS Broadband in N4 Billion Deal in Nigeria

South African mobile operator, MTN Nigeria has agreed to acquire XS Broadband Limited (Formerly UBA Capital & Trust Ltd), a fixed wireless access licensee owned by UBA PLC in a…

South Korean investments may facilitate technology transference

Luanda — The Angolan government expects that South Korean businessmen help in intensifying the economic cooperation between the two countries, based on mutual benefits and advantages, facilitating the transference of…

Burkina Faso’s Onatel Raises US$60 million in IPO

The Burkinabé government has raised 29 billion CFA francs (US$59.6 million) from the sale of a 20% stake in fixed-line incumbent Onatel through an initial public offering (IPO), according to…

On The Money - In Brief

- Eygpt based, Orascom Telecom has agreed to refinance a tranche of its debt with a new US$2.5 billion five-year debt facility with 12 Egyptian and international banks. The company…

On The Money - In Brief

- Algerie-Telecom will issuefrom 17 September to 17 October 2006 a 20 billion dinar public bond (nearly US$350 million), the company's chairman, Slimane Kheirdine, announced. The issue of bonds is…

CISCO'S SUB-SAHARAN AFRICAN REGION HAS ITS BEST QUARTER

Cisco Systems Sub-Saharan Africa (SSA) says the second quarter to 29 January was the best in US dollar terms in the office's nine-year history. Describing the quarter as an exceptional…

IN BRIEF:

- In Ghana, Kofi Kludjeson who was involved in the theft of money from mobile operator Kasapa and disqualified from being a director of company for four years in 2005…

World Bank grants over US$70 million for infrastructure development in Liberia, Sierra Leone and Sao Tome and Principe

The World Bank board of directors has approved three major projects for three West African countries, totaling US$71.5 million dollars. The projects are aimed at boosting Information Communications Technology (ICT)…

Why Reunert bought ECN Telecoms

JSE-listed Reunert’s acquisition of ECN Telecoms will be good for both companies and for the industry, says ECN CEO John Holdsworth.Reunert announced the deal on Monday, confirming speculation that ECN…

UBA, Citibank Give MTN Côte d'Ivoire $150 Million Facility

United Bank for Africa Group (UBA) and a host of other financial services institutions, led by Citibank, are providing a $151 million five-year loan facility to MTN Cote d'Ivoire, in…

On The Money - In Brief

- Econet Wireless International is confident that its long-running shareholders dispute with VMobile (formerly Econet Wireless Nigeria) will be resolved within the next few months. The arbitration ended on 3…

Kenya’s Safaricom bond opens to seek first Sh5bn

Safaricom’s Sh12 billion bond has open following the approval from financial regulators. It announced that it will be seeking an initial Sh5 billion at a price to be announced later.…

Kenya: Safaricom Bond Issue Raises Sh4.5 Billion

Safaricom has raised Sh4.5 billion it had targeted through a bond issued last month, boosting the telecommunication company's war chest for making new capital investments to safeguard its market share…

Money – In Brief

- Nigerian CDMA operator, Starcomms, is negotiating to close a deal that will enable it acquire the troubled Telkom SA-owned Multi-links. A report in ThisDay said that the deal was…

Millicom purchases remaining shares of Chad venture

Millicom International Cellular S.A has purchased the remaining shares in two joint ventures, Navega in Central America and its business in Chad, for a proportional total of $60 million. Millicom…

Datacentrix performance hit by new Government in South Africa

Datacentrix last week released its interim results for the six months ended 31 August 2009, saying its performance was knocked by unrealised government deals. Chairman, Gary Morolo says the company…

Deloitte flags concern over South Africa’s SNO

Neotel’s ability to continue as a going concern has been questioned by its independent auditors, Deloitte & Touche. But CEO Ajay Pandey, speaking to TechCentral in an exclusive interview, says…

SA firm raises stake in IS Kenya to 80%

Dimension Data’s Internet Solutions (IS) subsidiary has increased its shareholding in its Kenyan unit from 51% to 80%, as part of a long-term strategy to increase its presence across East…

Telkom South Africa Delays Outsourcing Over Concern About World Cup Service Delivery

Telkom's goal of saving up to R1.3bn a year by hiring another company to run its core networks has been put on hold, with the Solidarity union saying Telkom fears…

BOTSWANA’S CITIZENS INVESTMENT LOSES MASCOM BID

Citizens Investments, owned by Gaborone businessman Kagiso Mmusi and lawyer Rizwan Desai, has lost the bid to acquire a 50.01 per cent stake in Mascom Wireless. According to The Star…

MTN contributes GH¢222.8 million to Ghana’s revenue in 2008

The Telecommunication sector's contribution to Ghana's Gross Domestic Product (GDP) currently estimated at almost 10 per cent more than tripled from 1.8 per cent to 6 per cent between 2000…

SAUDIS UNVEIL US$1BN PLAN FOR AFRICA

Saudi Arabian company HiTs Telecom is making a major push into Africa, with an acquisition under its belt and a $1 billion investment plan.  HiTs wants to set up eight…

France Telecom buys 40% share in Meditel for USD837m

France Telecom (FT) has agreed to buy a 40% stake in Morocco’s second largest mobile operator Medi Telecom (Meditel) for EUR640 million (USD837 million) from its domestic owners, state investment…

Qatar's Qtel, Purchases Tunisiana for U.S.$1.2 Billion

Tunis — Reuters reports that Orascom Telecom has sold its 50 percent stake in Tunisian mobile operator Tunisiana to a Qatari-Tunisian consortium for $1.2 billion.The consortium includes Qatar Telecom's (Qtel),…

EOH acquires Microsoft specialist Belay in South Africa

JSE-listed IT services company EOH has acquired Belay, a 200-person IT solutions provider based in Midrand that specialises in Microsoft technology.The value of the deal has not been disclosed and…

Safaricom targets to buy Seven Seas Technologies

Safaricom is mulling acquiring a majority stake in another local IT service firm Seven Seas Technologies (SST) as it races to reduce its reliance on the voice market that is…

MTN South Africa Extends Negotiations With India’s Bharti

MTN says shareholders are referred to the cautionary announcement and to the renewal of cautionary announcement released on SENS on 25 May 2009 and 6 July 2009 concerning discussions regarding…

On The Money - In Brief

- Brett Goschen, CEO of MTN Ghana, has said the telecom market leader in Ghana would float shares in the near future to enable Ghanaians to own part of and…

Kenya’s Safaricom Buys stake in local ISP company

Safaricom has acquired a controlling stake in a Kenyan ISP as it prepares for a serious assault on the data market. Already a leader in voice, where it has a…

FLAK FLIES IN BATTLE FOR CONTROL OF ECONET WIRELESS NIGERIA

The attempt to recapitalise Econet Wireless Nigeria is causing major turbulence amongst the shareholders and management of the company: - The three State Governments that are shareholders Lagos, Akwa Ibom…

Egypt won't allow Telecom Egypt to buy Orascom IT units

The Egyptian government will not allow Telecom Egypt to purchase two information technology units, up for sale by Orascom Telecom, preferring private investors as buyers, the communications minister said. "We…

UGANDAN MPS QUERY CHINESE FIBRE OPTIC LOAN

Members of Parliament are furious that the government has signed a memorandum of understanding with a Chinese firm to construct fiber optic network before the legislature approves a US$30 million…

South Africa: Shopping Spree by Datatec 'Is Pre-Emptive'

Global technology firm Datatec has been on a shopping spree, buying small to medium-sized enterprises in emerging markets to bolster its operations.The technology industry is recovering from the recession, which…

Telkom Kenya to Invest Sh3bn in Network Upgrade

Telkom Kenya is investing Sh3 billion in a stronger network with higher internet speed as the battle in telecommunications shifts to data.The Communications Commission of Kenya on Wednesday gave the…

On the Money – In Brief

Kenya's economy could be losing up to KShS3.2 billion ($38 million) in taxes through influx of illegally-imported counterfeit mobile phones, denying the country significant economic benefits, a Nokia anti-counterfeiting expert…

South Africa: FNB to use its ECNS licence for value-added services

It has a licence to operate, what is it doing with it? First National Bank says it will not be using its ECNS (Electronic Communications Network Service) licence to become…

Shs 7 trillion collected via e-tax payments

At least Shs 7 trillion worth of revenue resulting from 1.4 million payments have so far been receipted through electronic tax payments. This revenue is a result of over 360,000…

Egypt Rejects France Telecom’s Mobinil Bid Appeal

France Telecom SA’s appeal was rejected in its bid to buy the remaining shares of the Egyptian Co. for Mobile Services, said Khaled Seyam, deputy head of Egypt’s financial regulator.…

NSSF to Acquire Shares in MTN Uganda

The National Social Security Fund, NSSF is in negotiations to purchase shares in MTN Uganda, a leading telecommunications firm, Business Power has learnt. Information exclusively available to Business Power indicates…

CHINESE FIRMS TO ACQUIRE INTERCELLULAR, CELLCOM

Two Chinese firms- Huawei Technologies and ZTE have indicated interest in acquiring major stakes in Intercellular Nigeria Limited and Cellcom Limited, Minister of Communications, Chief Cornelius Adebayo, has said. Intercellular…

MOROCCO TO SELL ITS SHARE IN MAROC TELECOM BEFORE 2007

Morocco intends to sell the rest of its share in Maroc Telecom Company, which amounts to 34%, towards the end of this year, reported Reuters, based on a document released…

On The Money - In Brief

- Uganda Telecom Ltd listed a 54-billion Uganda shilling ($27 million) five-year issue of commercial paper on the Uganda Securities Exchange on Tuesday to raise funds to finance its expansion…

On The Money - In Brief

- Zimbabwe mobile operator, Econet has reduced to 20 percent its stake in Afre Corporation after selling five percent in a drive to dispose of all non-telecommunication assets. The telco…

SAFARICOM SETS NEW RECORD WITH SH17 BILLION IN PROFITS IN KENYA

Record profits at Kenya's leading mobile phone company will see Sh4 billion in dividends paid out to its shareholders, even as Sh18 billion is ploughed back into new investments. Safaricom…

Kenya seeks firms to set up second data facility

The government is calling on the private sector to partner with it in setting up a second national data centre, in a move likely to boost the country’s information and…

IFC, Sede Invest $1.25 Million in Technology

The International Finance Company, a member of the World Bank Group, and the Soros Economic Development Fund, have both invested $1.25 million of equity into Esoko, a Ghanaian technology firm.The…

Money News - In Brief

- Air Liquide Foundation, the development wing of Air Liquide SA, based in France, has presented  Ghana’s Eremon Senior High Technical School with a new GH¢25,000.00 Information and Communications Technology…

Nigeria’s Globacom Gets 2% Of Ghana Telecom Subscriber Market in First Month

Nigeria’s Globacom has acquired two per cent market share of the total Ghana telecom subscriber base just after a month of launching its operations in the West African country, according…

Essar eyes merger with Warid in Uganda

The Ruias-owned Essar Group is looking at merging its telecom licence for Uganda with the Dhabi Group’s operations in that country. The Essar Group will hold a majority stake in…

Nigeria’s Federal Government Picks BNP Paribas As Advisers for Nitel Privatisation

As the December deadline for the race to pick a new core investor for Nitel draws near, the Federal Government has picked BNP Paribas as its adviser on the deal.…

South Africa’s Cell C Makes first Operating Profit

Cellular operator Cell C has turned an operating profit for the first year in its seven-year history, reversing a loss of R349m to post a profit of R321m. The main…

ACCESSKENYA RAISES $1.4 MILLION TO EXPAND ITS INTERNET SERVICE

Corporate Internet service provider AccessKenya has raised over Ksh100 million ($1.4 million) through a private placement of its shares and those of its sister company, Broadband Access Ltd. Managing director…

ORASCOM EGYPT CONSIDERS CLOSER TIES WITH HUTCHISON

Egypt’s Orascom Telecom Holding is considering raising its stake in Hong Kong’s Hutchison Telecommunications International by 3.3%, according to reports quoting CEO Naguib Sawiris. "We are currently building our reserves…

CELTEL PAYS LE27 BILLION TAX TO GOVERNMENT IN SIERRA LEONE

Celtel's Financial Manager and Acting Managing Director, Andy Jones has disclosed that by virtue of the position of Celtel as a corporate citizen doing business in Sierra Leone, it now…

Nigeria's NASDRA seeks $100M to buy stakes in RASCOM

The National Space Development and Regulatory Agency of Nigeria (Nasdra) has asked for $100 million from the Federal Government to buy shareholding in the Regional African Satellite Communications Organisation (RASCOM),…

ARC Telecoms makes official entrance into the South Africa’s telecoms space

ARC Telecoms has officially entered the hyper-competitive and increasingly volatile South African communications space with a mandate to dedicate its technologies, services and consultancy to the small and medium business…

Rural Communication Fund Lauded in Uganda

Rural telecommunication and broadband penetration in Uganda has risen to 14%, higher than in Nigeria and Ghana, because of the clarity of government policy and use of strict targets, a…

South Africa: Intel arm invests $5m in Altech

Intel Capital on Thursday announced it has reached an agreement to invest US$5m in JSE-listed technology group Altech. It is the first investment in SA by Intel Capital, the investment…

Money News - In Brief

- Adlevo Capital, a private equity fund and Intel Capital, the global investment and M&A organization of Intel Corporation, has announced that they have made a growth investment into Rancard…

Nigeria: e-Wallet apprehension grips farmers

The introduction of the e-wallet scheme, according to the firm in charge of it, has saved Nigeria billions of naira, but is the facility making things easy for farmers as…

Nigerian Starcomms Q2 net loss trebles, revenue up 7%

Nigerian fixed-wireless operator Starcomms has posted its fiscal results for the six months ended 30 June 2009, recording a 7% rise in revenue year-on-year to NGN16.9 billion (USD107.8 million). The…

Blue Label Eyes Further Expansion in Africa

Technology and telecoms company Blue Label is getting ever more ambitious in its global expansion plans, by exploring opportunities in Nigeria and Ghana and setting its sights on the huge…

Telecom Namibia Eyes Billion Dollar Growth

Telecom Namibia (TN) has an ambitious plan to achieve N$1.35 billion in revenue by 2010. According to the latest report of the Telecom Industry Association (TIA), the worldwide revenue growth…

HEAVY WEATHER AHEAD FOR BUSINESS CONNEXION

  IT group Business Connexion is fed up with the time it’s taking for the competition authorities to make a final decision on Telkom’s offer to buy it out. “This…

EMERGE AFRICA BUYS INTEGREAR SYSTEMFLO

Emerge Africa, the master value-added reseller (VAR) in Africa for business process management (BPM) company Global 360, has bought the Systemflo division of Integrear, Global 360’s local partner for the…

ZIMBABWE'S TEL*ONE LOOKS SHORT OF CASH AS IT PAYS ONLY USD1 MILLION ON USD168 MILLION CONTRACT WITH HUAWEI

Zimbabwe's sole landline provider Tel*One has paid Chinese telecommunications firm Huawei Technologies close to US$1 million for the supply of equipment to roll out an ambitious five-year development plan. It…

NIGERIAN TELECOM FIRM RELTEL RAISING FUNDS ON THE INDIAM MARKET

elTel, a Nigeria-based telecom company, is looking to raise funds and find a strategic partner from India. The company has appointed the Mumbai-based investment banking firm Strategic Capital Ventures Ltd…

D50 MILLION NEEDED FOR GAMTEL AIRSPAN PROJECT

Mrs Neneh Macdouall-Gaye, Secretary of State for Communications and Information Technology has revealed to the National Assembly that Gamtel still needs D50 million for the completion of the roll-out of…

Zamtel has spent US$31 million on its national fibre network

Zamtel has spent US$31 million on laying the optic fibre network countrywide, Transport and Communications Deputy Minister Mubika Mubika told Parliament last week. The deputy minister told the House that…

On the Money – In Brief

-Telkom’s revenues from voice telephony plummeted in the past year, falling by 19,1% to R6,9bn. The fall was only partly offset by a 14,9% increase in data revenues.In the six…

IFC gives details of $115m syndicated loan to Vodafone Ghana

The International Finance Corporation (IFC), a member of the World Bank Group, says the $115 million syndicated loan for Vodafone Ghana came from Chinese, German, and African institutions.According to a…

Kenya - M-Pesa transactions over Sh300,000 to be checked

The Central Bank is proposing to start investigating all mobile money transfer services above Sh300, 000 a week, a move that may see business people affected for fear of unnecessary…

Brymedia revives NITEL interest

Brymedia has renewed its interest in acquiring the assets of fixed line incumbent Nigeria Telecommunications (NITEL) as the ailing telco undergoes liquidation, Brymedia’s CEO Adrian Wood told local newspaper This…

VimpelCom agrees to sell African assets

Operator group VimpelCom is to sell its interests in operations in Burundi and Central Africa Republic (CAR) for a combined $65 million.Its subsidiary Global Telecom Holding is to sell Telecel…

On The Money - In Brief

- Kasapa Telecom Limited on Thursday signed onto the Ghana Business Code (GHBC) becoming the only telecommunication service provider to do so since the set of rules to guide ethical…

On The Money - In Brief

- Starcomms has posted revenues of NGN17.5 billion (USD150 million) for the first six months of 2008, up 101% year-on-year and in line with its growth projections, reports local newspaper…

Tanzania Snub Fails to Dent Safaricom’s IPO

Stockbrokers have expressed confidence that the non-participation of Tanzanians in the ongoing Safaricom IPO is unlikely to significantly affect the issue's subscription level. The brokers say that though the Tanzanians'…

TWO  NAMIBIAN IT GIANTS MERGE

In a move intended to enhance capacity-building and to keep pace with global changes, two IT giants merged last week Wednesday. The merger involving GijimaAst and Information Technology Department which…

WATANIYA CLOSES FINANCING FOR TUNISIANA DESPITE ARBITRATION

Kuwait’s Wataniya Telecom has announced the closing of US$442 million in debt financing by its mobile services subsidiary in Tunisia, Orascom Telecom Tunisie operating under the brand name Tunisiana. The…

On The Money - In Brief

- The Ethiopian Telecommunications Corporation (ETC) has revealed plans to invest ETB5.4 billion (USD644 billion) in the expansion of its telecoms infrastructure in the Ethiopian fiscal year, which began on…

VIVENDI RE-AFFIRMS ITS COMMITMENT TO HANG ON TO MAROC TELECOM STAKE

French group Vivendi Universal is to sell its 55% in Monaco Telecom as it has sold its 60% in Kencell but will hold on to its stake in Maroc Telecom,…

TELEPASSPORT TO LIST ON JSE'S DEVELOPMENT CAPITAL BOARD

A veteran player in a relatively new aspect of the telecoms industry is going public with a listing on the JSE's development capital board. TelePassport is the country's oldest provider…

Axiz R170.9m Takeover 'Will Open New Markets for Pinnacle'

Pinnacle Technology has acquired Axiz Technology for R170.9m to create one of the largest distributors of technology products in the country.Pinnacle CEO Hano Coetzee said the transaction would add new…

Helios Towers Eyes Investments in Telecom Sector

Helios Investment Partners, the private equity fund that owns a quarter of Equity Bank's shares, is seeking to deepen its presence in Kenya by raking up its investments in the…

DR Congo banking on wage revolution for state workers

For civil servants working in the Democratic Republic of Congo, the arrival of mobile banking has been just short of a miracle.Aside from getting paid on time, workers are now…

Matiang’i rules out Safaricom reprieve from licence terms

ICT secretary Fred Matiang’i has vowed to tie the renewal of Safaricom’s licence to the voice quality checks that show the mobile phone operator is non-compliant.Dr Matiang’i said the government…

Kuwait’s Zain hunts North Africa M&A

Kuwaiti telecommunications giant Zain Group is scouting out acquisition opportunities in North Africa, its CEO told Arabian Business.The group, one of the largest telcos in the region with a presence…

Angola Cables gets USD260m bank guarantee for cables; Movicel expands 4G

Angolan banks have approved a USD260 million bank guarantee for the Angola Cables consortium, earmarked for building the South Atlantic Cable System (SACS) undersea fibre-optic cable connecting the African country…

Morocco's Wana financial future is uncertain

Shares in Moroccan conglomerate ONA were suspended from trading in Casablanca on Monday after its board fired Chairman Saad Bendidi due to ballooning costs at start-up telecoms venture Wana. Former…

SH2.1 BILLION REFUNDS FOR ACCESSKENYA IPO INVESTORS

The majority of the over 26,000 retail investors who applied for AccessKenya Initial Public Offer (IPO) are set to receive a meagre 900 shares. These are applicants who applied for…

CELTEL TAKES OVER VMOBILE IN NIGERIA

Celtel International, a branch of the MTC group, has concluded an agreement for control of 65% of Vmobile, one of the leading mobile telecommunication operators in Nigeria, for over 1…

SA’S TELKOM CONTINUES TO MAKE HIGH PROFITS IN ABSENCE OF SNO

Telkom last week announced strong group annual results for the year ended March 31, 2004, with healthy increases in operating revenue and operating profit, positive cash flow growth, and excellent…

VODACOM vs ECONET - A COURT ORDER, A SACKED JUDGE AND A DEREGISTRATION

Econet’s battle with the shareholders of Econet Wireless Nigeria and Vodacom has more twists and turns than a race in Monte Carlo. This week there were three significant developments: 1.…

IN BRIEF:

- Mauritius Telecom has announced a Rs 6.3 billion turnover and a  Rc 1.9 billion profit after tax  for 2006, an increase of 19% compared to the previous year. Sarat…

Vodacom Group reports solid Q2 growth

Pan-African cellco Vodacom has announced revenues of ZAR14.4 billion (USD1.9 billion) for the three months ended 30 June 2010. This figure represents a 0.7% rise, from ZAR14.3 billion recorded in…

Zimbabwe: Econet in Contractual Wrangle

The contractual wrangle between Namibian-based mobile operator, Trustco Mobile and Econet Wireless, has taken a new twist as the former has applied for an urgent interdict in Zimbabwe's courts against…

South Africa: Alan Knott-Craig buys MXit

A few weeks ago Memeburn revealed that instant messaging platform MXit was rumoured to be in sale talks with startup investment firm World of Avatar. We can now confirm that…

Etisalat draws strong bank demand for $8 billion Maroc Tel bid loan

Abu Dhabi telecom group Etisalat is set to sign an $8 billion loan facility next week with as many as 16 banks to help fund its Maroc Telecom stake bid,…

Seacom hunts in Africa

Submarine cable operator, Seacom will be on the lookout for growth opportunities in Africa this year.The company says it anticipates strong growth in the African telecoms market as the impact…

Eight in for Sotel Chad

Eight parties have met the criteria for pre-qualification ahead of the privatisation of Chadian telco Sotel, in which the government is selling an 80% stake, TMT Finance has learnt.The tender…

On The Money - In Brief

- A maximum fine of R100,000, some form of private censure and a slap on the wrist were what three directors of Blue Label Telecoms received from the JSE late…

EGYPT WELL-PLACED AS THE NEXT HOT SPOT FOR IT OUTSOURCING

Yankee Group says that it thinks Egypt could soon become the India of the Middle East as it seeks to develop its share of the global outsourcing market. As this…

On The Money - In Brief

- Celtel has secured a $70 million (about Shs128b) funding for its expansion plans in Tanzania. In addition, it is anticipated that Celtel Tanzania will access an additional $15 million…

CORRECTION

ISSUE 210: ZAMBIAN COMPUTER SOCIETY PRESIDENT RECOMMENDS COMPUTER REGISTRATION Our Zambia correspondent misunderstood that Computer Society of Zambia President Milner Makuni was actually opposed to the registration of computers. The…

IFC INVESTS USD100M IN MTN NIGERIA

The International Finance Corporation (IFC) has provided a USD100,000,000 (about N137bn) to MTN Nigeria as a long term debt and equity financing to expand its nationwide GSM cellular telephone network…

Zimbabwe: POTRAZ has over US$20 million in unused Universal Service funds

More than US$20 million under the Universal Services Fund is lying idle at the Postal and Telecommunications Regulatory Authority of Zimbabwe after the authority failed to come up with a…

Accesskenya Merges Two Subsidiaries

Telecommunications company AccessKenya has consolidated its two subsidiaries under one operating company in a move expected to cut operating costs and create a more effective management structure.AccessKenya is taking advantage…

Ghana: GhIPSS opens satellite offices to support e-zwich

The Ghana Interbank Payment and Settlement Systems (GhIPSS) has opened five satellite offices across the country to ensure that e-zwich services are running effectively throughout the country.The offices located in…

Kenya: M-Pesa Fraud Losses Less Than One Percent - Safaricom

Safaricom yesterday said losses occasioned by fraud arising from its money transfer M-Pesa are negligible compared to credit card fraud.Chief executive Bob Collymore said the money lost in M-Pesa fraud…

Zain reports Sudanese revenue growth

Kuwaiti telecoms giant Zain has reported 18 per cent growth in its Sudanese revenue despite a 35 per cent devaluation of the Sudanese pound during 2013.The Zain Group has operations…

Globacom mulls sale of Ghana, Benin, Ivorian units - report

Globacom is said to be assessing plans to reduce some of its telecommunication holdings, which could include subsidiaries in Ghana, the Republic of Benin or Cote d'Ivoire, TMT Finance reported,…

AFRICA CELLULAR TOWERS GAINS ON DEALS IN WEST AND CENTRAL AFRICA

Telecommunications infrastructure and support systems supply group Africa Cellular Towers has continued to benefit from trading conditions. The company, which listed on AltX in November last year, increased net profit…

AFRICAN TELECOMS WINS AFRICAN LAKES BID WITH INCREASED CASH OFFER

Last Friday African Telecoms Company announced that its increased cash offer had secured it control of 52.66% of African Lakes. The revised offer of £18.50 in cash per share values…

On The Money - In Brief

- Cellular network operator Vodacom increased its total customer base by 25.1% to 9.6 million in the six months to 30 September. Group revenue of R11.29 billion was 19.6% higher…

New Generation Communication offers US$2.5 billion for Nitel but China’s Unicom denies involvement

It all started so well but the recent announced preferred bidder seems to have been struck down by the curse that seems to affect everything associated with Nitel. New Generation…

Telkom – Telcordia R230 million settlement

Telkom and Telcordia dispute may cost Telkom millions of Rands after recent settlement. A dispute between Telkom and Delaware based telecoms service provider Telcordia arose in 2001 after Telkom felt…

On the Money News: In Brief

*Bharti Airtel of India has revealed plans to invest USD150 million over the next three years to expand Zain Tanzania’s networks and services. Bharti considers the Tanzanian market ripe for…

Money – In Brief

- FNB bank announced that it is seeing a rapid uptake of cellphone banking in Africa. The bank has recorded year on year growth of 376% in Zambia, 277% in…

Top Ten investments in African Telecommunications

Africa has been seen in recent years as an excellent opportunity to invest in telecommunications infrastructure, with many countries receiving trillions of dollars in funding in order to upgrade GSM…

Rwanda: Traders to Get E-Tax Training

Traders in the country will begin to receive training on the usage of electronic tax payment platforms in a move aimed at easing the process of tax collection.Starting in May,…

Bank of Zambia revokes Celpay’s licence, ceases its operations

The Bank of Zambia has revoked an operating licence for Celpay Zambia Limited, a mobile banking and payment solution service provider for failure to sustain its operations.According to the bank,…

Heirs Holdings invests in Planet Labs revolutionary satellite technology

The pan-African proprietary investment company has announced its investment in US start-up Planet Labs’ innovative satellite manufacturing technologyHeirs Holdings, the pan-African proprietary investment company founded by Tony O. Elumelu, CON,…

Sonatel sees 11% increase in sales and profits in 2013

The Senegalese telco Sonatel has reported an 11.1% increase in net profit for full year 2013 to XOF189.6 billion (USD397 million). Sonatel, which is backed by France’s Orange Group and…

NATCOM raises US$1.5 million in Sierra-Leone

Sierra Leone's National Telecommunications Commission (NATCOM) has raised close to US$1.5 (five billion leones) to beef up its work. According to the outgoing chairman of NATCOM, Kanji Daramy, his commission…

MTC TARGETS 70 MILLION SUBS AND US$6 BILLION EBITDA BY 2011

Twenty operations of the MTC Group are this week meeting in Tanzania to discuss the operator’s new growth strategy – ACE (acceleration, consolidation, expansion). ACE will be the group's driving…

Telkom South Africa Quiet On TelOne Acquisition

Telkom is giving nothing away in response to rumours that it is negotiating to buy 60% of Zimbabwe's state-owned telephone operator, TelOne. Speculation has been circulating in Zimbabwe for several…

India Bharti Bids $US 10.7 Billion for Zain Africa

Five months after the collapse of a proposed tie-up between MTN and India's Bharti Airtel, the two are set to go head-to-head in Africa's cellphone industry, after Bharti launched a…

Unitel Approves US $800 Million Investment Plan

The Angolan mobile-phone operator Unitel approved Wednesday, in a general assembly, a USD 800 million investment plan for the 2010/2011 period. According to a press release of the company that…

South Africa: Airtime scam’ led to MTN arrests

Six suspects, not 10 as earlier reported by Sapa, were arrested on Thursday morning at MTN’s head office near Roodepoort. The operator explains the six — two of whom were…

Nigeria: Cashless Lagos - Penalty On Cash Limits Starts

Banks in the nation's commercial centre, Lagos State, have started charging penalty from customers who withdraw or deposit cash above the limits stipulated by the Central Bank of Nigeria (CBN)…

Money News – In Brief

 - E-commerce specialist PayPal has launched its services in Egypt. The electronic payment alternative has now launched in Egypt and Lebanon, said Elias Ghanem, the general manager of PayPal for…

Libya to allow private mobile phone company to operate

Plans to open the Libyan mobile phone market to the private sector have taken a step forward with the announcement by Communications Minister Osama Siala that a tender will be…

Orange hires adviser for African exit

French operator Orange has mandated Lazard to find a buyer for its mobile telecoms business in Uganda, hot on the heels of the sale of Warid Telecom’s local unit to…

Discussions on Nigcomsat’s Privatisation have started

Vice-President Goodluck Jonathan met with the National Security Adviser (NSA) and other stakeholders, to decide on t he proposed privatisation of the Nigeria Communication Satellite Limited ( NIGCOMSAT). The proposed…

MAROC TELECOM’S ANNUAL REVENUES UP 10.1%

Maroc Telecom 2006 consolidated revenues increased 10.1% to 22,615 MAD due to the good performances of all its business activities. 2006 fourth quarter consolidated revenues increased 5.1% to 5,532 MAD…

NIGERIAN MTEL'S MARKET SHARE DROPS

Barely three months after Mobile Telecommunications Limited (MTel) was taken over by its new owners, Transcorp, there are indications that the mobile communications firm is yet to find its feet…

VIVENDI UNIVERSAL TAKE MAJORITY SHAREHOLDING IN MOROCCAN TELECOM

French group Vivendi Universal announced it had acquired a majority stake in the profitable Moroccan operator Maroc Telecom, confirming its strategy of focussing on telecommunications. It said it had added…

TELEKOM MALAYSIA OFFERS TO STEP BACK FROM INTERNATIONAL ARBITRATION

Telekom Malaysia Bhd will not write off its soured investment of over UD$38 million (RM144.4 million) in Ghana Telecom. Its chairman Tan Sri Muhammad Radzi Mansor said Telekom still hoped…

Cellcom Gives Shares To Employees in Liberia

Cellcom, one of the leading companies in the country, has offered 20 shares to each of its employee as a means of making them owner of the company. Speaking during…

Zim’s NetOne faces cash shortage and owes US$28 million

Bureaucratic red-tape and serious shortage of cash are the major issues threatening the viability of Zimbabwean government-owned NetOne mobile company. NetOne, once Zimbabwe’s leading cellular mobile company is now playing…

Orascom Elects Listing Unit on ZSE

Orascom Telecom has spurned members of an investment consortium bidding for shareholding in Telecel Zimbabwe and instead proposed a listing of its Zimbabwean unit on the Zimbabwe Stock Exchange (ZSE).President…

On the Money News - In Brief

- According to Reuters, London based telecoms company, Eaton Towers, has secured a $150 million private funding from the Capital International Private Equity Funds to enable the company to roll…

South Africa’s network readiness index below par

The Global Information Technology Report 2012 has been released by the World Economic Forum, examining the success of 142 countries in using information and communications technology to boost economic competitiveness.The…

Investrust Zambia unveils mobile banking

Zambia’s Investrust Bank has launched a mobile banking service branded Invest Mobile. While unveiling the service, Investrust Bank’s managing director Friday Ndhlovu said existing customers will first benefit from the service…

KT considers bid for 35% TT stake, Tunisiana secures USD133m loan

South Korea’s KT Corp has announced that it is in the early stage of talks to purchase a 35% stake in state-backed telco Tunisie Telecom (TT) from Emirates International Telecommunications…

Data services fuel MTN sales growth in 2013

South Africa’s MTN Group, which has operations in 22 countries across Africa and the Middle East, has reported a 12% increase in turnover for 2013 to ZAR136.49 billion (USD12.70 billion),…

Cell C claims to have lost revenue market share due to MTRs

South African wireless operator Cell C has revealed that its revenue market share in the country has declined since 2010, when telecoms regulator the Independent Communications Authority of South Africa…

Samsung to Boost Investments in Africa

Korean mobile phone and electronic goods manufacturer, Samsung Electronics, says it will increase investments in sub-Sahara Africa. The firm has regional offices in Nairobi, Lagos and South Africa. Its African…

DBSA GRANTS R484M LOAN TO NEXUS TO HELP ROLL OUT NEOTEL

Neotel has received additional funding of R484 million to add to the R2 billion loan granted last month to the second national fixed-line telephone operator. The new loan was secured…

ORASCOM SCORES GREEK OPERATORS IN US$4.4 BILLION DEAL

The Egyptian billionaire Naguib Sawiris agreed Wednesday to buy TIM Hellas Telecommunications from two buyout firms in a deal that valued the Greek cellphone company at about €3.4 billion and…

EXPANSION INTO AFRICA IS TOO COSTLY SAYS VODACOM’S CEO

Cellular operator Vodacom has conceded that it may never manage to expand into more countries, forcing a shift in strategy away from geographic growth towards fancier services including mobile television.…

SHORTLIST FOR NITEL PRIVATIZATION ANNOUNCED

Nigeria's Bureau of Public Enterprises (BPE) hopes to release a short-list of potential buyers for the controlling stake in Nitel, the state-owned fixed and mobile telecoms operator in that country,…

TATA GROUP CHASING 26% STAKE IN SOUTH AFRICAN SNO

The Indian Tata group has bid for a 26 per cent stake in South Africa’s Second Network Operator (SNO). If successful, the acquisition will give the conglomerate the mandate to…

ZIMBABWE'S SNO IS SHORT OF FUNDS AND CANNOT ROLL-OUT

Teleaccess (Zimbabwe) (Pvt) Ltd, controversially licensed by cabinet last year as the second national fixed telephone operator, is unable to roll out its project due to lack of funds. Official…

ERICSSON’S SOUTH AFRICAN OPERATION IS STAR OF ITS STABLE

Ericsson’s South African subsidiary has achieved a year-onyear increase of 148% in sales, making it the star performer among Ericsson’s 25 global marketing units.In a traditionally quiet quarter, Ericsson had…

MUGABE’S NEPHEW CLAIMS 10% OF TROUBLED TELECEL

Beleaguered businessman James Makamba’s chickens are flocking home to roost at the worst possible time as it emerged last week that while he languishes behind bars, President Robert Mugabe’s nephew,…

Zimbabwe: Celsys' Financial Performance Improves

Listed information and communication company, Celsys Limited recorded a significant improvement in the trading performance for the first quarter of the 2009/2010 financial year, with revenue increasing to US$650 000…

Sentech still not spent R500 million promised for a national broadband project and unlikely to get more

Government's problem child, Sentech, has not been allocated any funding for its national broadband network over the next few years. Sentech has been tasked with rolling out a national wholesale…

Stakeholders Harp On Improved Technology in Nigerian Telecom Sector

President of the Association of Telecommunications Companies of Nigeria (ATCON), Titi Omo-Ettu, and key players in the telecom sector have emphasised on the need to focus on improved technology and…

On the Money – In Brief

- The Commonwealth Telecommunications Organisation (CTO) concluded its historic 50th Council meeting in Colombo, Sri Lanka last week with the decision to support the launch of a Commonwealth Telecom Development…

Malawi: TNM sees rise in FY 2010 revenue, EBITDA

Mobile operator Telekom Networks Malawi (TNM) has announced its results for the twelve months ended 31 December 2010, reporting a 21% year-on-year increase in revenue to MWK9.93 billion (USD64.8 million).…

Kenya’s tech incubator, iHub receives $150,000 in funding from Google

Kenya’s technology incubator and innovation hub, iHub recently received about $150,000 in funding from Google.The hub formally announced the funding news and according to them will be using the new…

88mph partners with Google to boost African tech ecosystem

Africa’s leading tech accelerator 88mph has partnered with technology giant Google in a venture expected to boost the African tech Ecosystem, by providing extended hands-on support for local startups. Aiming to…

Safaricom to Increase Capital Spending as It Rolls Out Cable

Safaricom Ltd., Kenya’s biggest company by market value, plans to increase capital expenditure by 8 percent for the fiscal year through March as it extends cable to meet demand for…

Zimbabwe: Telone Revenue Up 8 Percent

TelOne's revenue performance for the first quarter surged eight percent compared to the same period last year, Managing director Mrs Chipo Mtasa has said.Speaking in an interview at the sidelines…

Vodafone Targets Telecoms Market in Nigeria

The largest mobile telecommunications network company in the world, Vodafone Group, has expressed its desire to enter the Nigerian market. Speaking at a conference in Barcelona, Spain, the Chief Executive…

MTN Spends N660 Million On Diesel Monthly in Nigeria

South African mobile-phone company, MTN, said it spends $5.5million (about N660 million) on diesel fuel monthly in Nigeria. The whopping sum is spent on fuelling the company's 6,000 generators at…

NASPERS SOARS ON NEWS OF BIG RUSSIAN INTERNET DEAL

Naspers' stock powered to a new record yesterday, as the media company struck it third time lucky in Russia by nailing down a $165m deal to buy into the country's…

DIDATA ASIA UNIT LIFTS PROFIT 47 PERCENT

Datacraft  Asia,  a unit of the South African-based IT group Dimension Data (Didata) -- has delivered a 7% increase in revenue for the first quarter to December to $128,7m, it…

WANANCHI ONLINE MERGES WITH ISP KENYA

Wananchi Online has finally merged with ISP Kenya and The Board of  Directors reports the following changes to its structure as well as  changes to the management structure, as the…

SOUTH AFRICAN PRISM STRONG ENOUGH TO GO IT ALONE

Technology developer Prism has delivered on a promise of impressive growth with a 66% surge in headline earnings a share, prompting CEO Alvin Els to hope the figures would not…

CELL C CLEARS FIRST HURDLE IN SAUDI DEAL

A proposed deal for Cell C to sell 15% of its business to Lanum Securities of Saudi Arabia has been approved by the Competition Commission. The commission's decision, however, is…

On The Money - In Brief

http://www.ibasis.com/news/PR2004/pr09272004.htm - Telkom South Africa looks set to lose out on revenue streams as the Independent Communications Authority of SA (Icasa), in a consultative document, proposes price cuts for a…

ECONET TO GET USD14M FROM MASCOM SALE

Econet Wireless Holdings Limited (EWHL), stands to rake in USD14 million from the proposed sale of its 14 percent stake in Botswana's Mascom Wireless. EWHL founder and group chief executive…

On The Money - In Brief

- Groupe Atlantique finally bought Afripa Telecom back in March. It claims to have had offers to buy its consolidated holdings (see issue 187). However it’s not yet out of…

On The Money - In Brief

- Econet Wireless Nigeria reported that its half-year revenues to December were up 49% to NGN22bn (USD157m), while EBITDA was 37% higher at NGN10bn (USD71m) compared to the pervious year.…

Orascom will appeal EFSA’s decision to accept MobiNil offer from FT

Hot on the heels of the Egyptian Financial Supervisory Authority’s (EFSA’s) decision to accept an offer from France Telecom (FT) for the outstanding shares it does not hold in cellco…

On The Money - In Brief

- An Egyptian court has pushed back the date for a decision on the shareholding dispute between Orascom Telecom and France Telecom (FT) related to mobile network operator Egyptian Company…

On the Money News: In Brief

* Indian telecoms group Bharti Airtel has said it will spend USD100 million on network expansion in Malawi over the next three years, news agency Reuters reports. Earlier this month…

Nigeria: Telecoms Infrastructure - IHS Gets N12 Billion From World Bank

The World Bank has provided $79 million - that is, about N11.8 billion - financing for IHS Plc, one of Nigeria's leading telecommunications infrastructure providers, to help it develop mobile…

Money News - In Brief

MTN and Stanbic IBTC Bank- a member of Standard Bank Group- have signed an agreement on the provision of mobile money services to Nigerians.

Safaricom Secures Lower Sales Commission Rate with Vodafone

Kenya's Safaricom is reported to have negotiated a lower sales commission fee with Vodafone, which is also its largest shareholder.Safaricom made a 6 percent commission payment to Vodafone for all…

Forex pushes Nigeria's Starcomms to 2008 net loss

Starcomms Plc, one of Nigeria's biggest mobile telecoms operators, swung to an 8 billion naira ($60 million) net loss last year due in part to the depreciation of the naira…

Orange is in talks to buy GSM license in West Africa

France Telecom SA, Europe's third largest telephone company, said it's in talks to buy a phone license in Togo in western Africa. The company didn't disclose financial details. The license…

On The Money - In Brief

- Kuwaiti telecommunications Zain Group (owner of Celtel) has announced plans to increase its working capital by 75 per cent to finance an expansion programme in Africa and the Middle…

ECONET SECURES FOREIGN CURRENCY FOR EXPANSION PROGRAMME

Zimbabwe’s largest telecommunications company, Econet Wireless Limited, has secured foreign currency to embark on another multi-million-dollar project to further expand its network from 800,000 to 1.3 million subscribers by the…

TELKOM AND VODACOM IN SOUTH AFRICA ANNOUNCE STRONG RESULTS

Fixed-line monopoly Telkom has achieved what CEO Papi Molotsane dubs "an impeccable performance", posting a 30% growth in operating profit to R14,6bn. Although analysts declare that the fixed-line phone business…

MILLICOM CLOSES AFRICAN BUYOUTS IN TANZANIA AND SIERRA LEONE

Luxembourg-based cellular operator Millicom International Cellular S.A. on Wednesday said it has completed the buyout of its minority partners in MIC Tanzania Ltd. and Millicom Sierra Leone Ltd. Millicom has…

EGYPTIAN BUSINESSMAN BUYS ITALY'S ENEL TELECOM UNIT

Enel S.p.A. (Enel) and Weather Investments S.A.R.L. (Weather), a company controlled by Egyptian businessman Naguib Sawiris, have signed the agreement to sell Wind Telecomunicazioni S.p.A. (Wind) to Weather. The total…

LICENSING OF SA'S SNO THREATENED WITH LEGAL ACTION

The minister of communications has pressed ahead with the awarding of the second national operator (SNO) licence today, despite the dark clouds of pending legal action against her. A statement…

LETTER FROM SENEGAL – WHAT WILL HAPPEN WHEN THE MONOPOLY ENDS? – "ONLY GOD KNOWS."

After what seems like an interminable wait, the end of Senegal’s monopoly with Sonatel is almost in sight, ending at the end of July this year. So what will happen…

On The Money - In Brief

- In Kenya, KenGen says it will turn to technology in its annual general meetings to cut costs on printing and postage. Mr Njoroge said future meetings will heavily rely…

Kenya: Essar Cuts Ties With its call centre provider

Mobile operator Essar Telecom Kenya Ltd operating as yu, has terminated its contract with its sister firm Aegis Services Kenya Ltd, raising anxiety for more than 70 customer care employees…

Uganda: mobile tax payment system

The Uganda Revenue Authority (URA) has teamed up with Orient Bank and Warid Telecom to come up with an efficient tax payment method where taxpayers can have the comfort of…

Money News - In Brief

- One of Nigeria’s leading banks, GTBank last week announced via Twitter that it has created a few additional Twitter handles to help deliver fast and efficient service to its…

South Africa’s Altec announced healthy revenue and profit increase

JSE-listed Allied Technologies played a solid game this year, with revenue up by 11% and operating profit up 32% in its final results. The company released its results for the…

Telkom SA Deal 'Boosts COPE War Chest'

The South African Communist Party (SACP) has called for Telkom's deal with Vodafone to be cancelled, saying the manner in which it was put together was not illegal but highly…

On The Money - In Brief

- MTC of Kuwait is reportedly interested in bidding for a stake in Algeria’s dominant telco Algérie Télécom via its African subsidiary Celtel, according to Kuwaiti newspaper Al-Qabas. MTC joins…

NASHUA MOBILE ENTERS ISP MARKET THROUGH ACQUISITION OF BLACKDOT

 Nashua Mobile, the independent cellular service provider in the Reunert Group, has acquired an Internet service provider, BlackDot IT Solutions, as part of its strategy to evolve into a telecom…

NIGERIAN FIXED WIRELESS OPERATOR RECEIVES HUAWEI FACILITATED BANK LOAN

Nigeria-based private telecoms operator Reltelwireless Limited has secured a US$20mn (NGN2.6bn) facility from the China Development Bank, which will help the operator position itself as the largest fixed line operator…

On The Money - In Brief

- Orascom Telecom added over three million new customers to its ranks in the three months ended 31 March 2005, to take its total to 17.5 million in nine countries.…

On The Money - In Brief

- Cointel, and its commerce brand Simplus, today announced that it has reached a milestone achievement for the processing of m-commerce transactions. Together with its strategic partners, Absa and MasterCard…

Kenya: Safaricom profit climbs 37%

Kenya’s largest telecoms firm Safaricom posted a 37 per cent jump in pre-tax profits to Sh21 billion in the year to March 2010, propelled by a surge in data revenue…

Rwanda’s SSFR receives Rwf125m dividends from Safaricom

The Social Security Fund of Rwanda (SSFR) is Rwf125.65 million richer, after its Safaricom shares recorded a higher dividend over 2010. SSFR owns 0.24 percent shares in the giant Kenyan…

Ghana: ITU Secretary-General wants unnecessary taxes on ICT equipment cut

The Secretary-General of International Telecommunications Union (ITU), Hamadoun Touré has implored the government to cut down unnecessary taxes on ICT equipment and services that could hinder the growth of the…

MobiCash Africa partners with Housing Finance Bank for launch of MCash Money in Uganda

MCash's mobile financial service has launched in Uganda in partnership with Housing Finance Bank (HFB).M-Cash is under the Bank’s umbrella in Uganda to bring new service delivery channels to all…

Surfline set to receive USD15m investment boost

Ghanaian operator Surfline Communications is set to receive USD15 million in funding from German finance institution DEG, via a co-investment with South Africa-based financial group Vantage Capital. The investment will…

Egypt Orascom Says France Telecom Deal Null And Void

Egyptian operator says acquisition of shares in Mobinil is off, local press reports. Egypt's Orascom Telecom Holding considers the deal to sell part of its shares in Egyptian Co. for…

Shares in MTN slumped before the market closed last Tuesday

Shares in African mobile phone giant MTN slumped before the market closed on Tuesday as news of Nigeria's currency free-fall against the dollar stoked concerns about MTN earnings, a fund…

On The Money - In Brief

- Celtel International, a subsidiary of the Kuwait-based MTC, has completed acquisition of controlling 65 percent stake in Vmobile, one of Nigeria's leading mobile telecom operators, for $1.005 billion (Shs1.8trillion).…

On The Money - In Brief

- Nigerian Finance Minister Ngozi Okonjo-Iweala says her country is addressing the "problems" that caused Telkom to pull out of bidding for 51% of Nigerian fixed-line telephone company Nitel in…

UNISYS CONCLUDES BEE TRANSACTION WITH CKS

Unisys Africa, a subsidiary of Unisys Corporation, completed a BEE transaction on Tuesday, by selling 30% of its shares to Cyberknowledge Systems (CKS), a black-owned consultancy company. “This transaction has…

CORRECTIONS

ITU PUBLIC-PRIVATE PARTNERSHIP FORUM Thank you for the article on Balancing Act News Update web pages concerning the Maputo Public and Private Partnership Forum. I would like to make one…

Seven New Grants from the Mobile Money for the Unbanked Programme

The GSMA has announced the details of a further seven grantees from the Mobile Money for the Unbanked (MMU) Fund, which is administered by the GSMA Foundation. with funding from…

Money – In Brief

The Bureau of Public Enterprises (BPE), last week, revealed bluntly that it has recommended to the National Council on Privatisation (NCP) to revoke Nitel's sale to New Generation Telecom, the…

Namibia - MTC declares revenue of N$1,4 billion for 2011

MTC has released a mixed bag of annual financial results for 2011 with revenue growing 3,2 per cent to N$1,4 billion, but profit dipping 14,2 per cent to N$319 million.Miguel…

Ghana - Payment of Domestic Airline tickets made easy by MTN Mobile Money

MTN Mobile Money subscribers who use Starbow can now purchase their air tickets through MTN Mobile Money. MTN announced the new addition during an interaction with News Editors and senior…

Unitel signs ten-year USD1.9bn fibre, LTE investment contract with state agency

Angola’s largest mobile operator by subscribers Unitel plans to invest over USD1.9 billion in the expansion of next-generation fibre-optic and 4G LTE mobile access network infrastructure nationwide over the next…

NATCOM takes over NITEL, Buhari urges review of deal

Yet again, the nation’s former telecommunications giant, Nigerian Telecommunications Ltd (NITEL) and its mobile subsidiary, Mobile Telecommunications Ltd (MTEL) changed ownership as the Federal Government formally handed it over to…

South Africa’s Vox Telepreneur scheme pays R2million

Telepreneur initiative rings up R2m in payouts as Vox grows network Vox Telecom had paid R2 million in commissions to 3 000 entrepreneurs who had taken advantage of its Vox…

On The Money - In Brief

- Starcomms Plc, the only telecomm company to be listed on the Nigerian Stock Exchange (NSE), has said it is committed to ensure Nigerian Telecommunications Limited (NITEL) comes out of…

Fresh Row Erupts At TTCL Shareholding in Tanzania

Trouble is brewing again at the Tanzania Telecommunication Limited (TTCL) with some workers now demanding the government to review the company's shareholding and management contracts. Telecommunication Workers Union of Tanzania…

SA IT FIRM BUSINESS CONNEXION BUYS INTO CORPORATE INTERNET RACE

Technology group Business Connexion has acted on its goal of becoming an internet service provider for the corporate market by acquiring Bidvest Network Solutions, a money-losing division of the Bidvest…

Telecom Egypt Interested in Buying out Vodafone Egypt Stake

­Telecom Egypt has confirmed that it is interested in buying out Vodafone's holding in their joint venture mobile network, Vodafone Egypt. Vodafone currently holds a 54.9% stake in the company,…

Algeria sees Djezzy valuation completed end-March

Algeria expects a valuation of Vimpelcom's Djezzy mobile phone unit, which it is part nationalising, to be completed by the end of March, Telecommunications Minister Moussa Benhamadi told Reuters on…

Money News - In Brief

- South Korea’s KT Corp has announced that it has reached a preliminary agreement to buy a 20% stake in Telkom South Africa, at a reduced price of around USD427…

Delta Partners Corporate Finance Advises Telecom Operators in Deals Totalling More Than $1 Billion in Africa, Asia and the Middle East

Delta Partners Corporate Finance acted as sole strategic and financial advisor on transactions worth more than $1 billion (~€801 million) during the course of 2014 helping telecom operators on the…

On The Money - In Brief

- MTC Namibia has announced that it will invest about N$113.8 million towards the West Africa Cable System a project worth about N$5.4 billion. Its contribution is equivalent to 50%…

Vodafone gets reduced stake in Ghana Telecom’s deal

A day after the Minority in Parliament raised issues over government's negotiations with Vodafone Plc UK, over the sale of 70% shares in Ghana Telecom (GT), government has announced that…

Tunisia: 16% growth in the ICT sector in 2009

Mohamed Naceur Ammar, Minister of Communication Technologies announced that Tunisia's ICT sector grew by 16% in 2009. He noted that the sector provides about 90,000 jobs and creates annually around…

Money News - In Brief

- The Ugandan government has announced that Libyan assets that were seized last year in line with UN sanctions against the North African state, are starting to be returned. According…

Dimension Data acquires MWEB’s Connect, Business and Optinet units; establishes new Wi-Fi offshoot WirelessCo

Internet Solutions, the wholly owned division of Dimension Data (Middle East & Africa), has signed a transaction agreement with South African internet service provider (ISP) MWEB to purchase its core…

Nigeria’s Nitel is up for sale again, any buyer with deep pockets is welcome

The Federal Government has said it would only consider best bidders in the process of privatisation of Nitel so as to conclude the issue in the interest of Nitel staff…

SOUTH AFRICAN SNO DELAY HURTS ESKOM ENTERPRISES

The delay in appointing the second national fixed-line telephone network operator has had a negative impact on Eskom Enterprises, whose net operating income for the year to December fell 36%…

AccessKenya Gets the Nod to Bid for Rival Company in Kenya

Internet Service Provider AccessKenya has received the regulator's nod for its first takeover bid for a rival firm since it was listed in the Nairobi Stock Exchange.AccessKenya wants to acquire…

On the Money – In Brief

- In Kenya, British American Insurance has launched a new personal accident insurance product whose premiums will be paid through the recently launched M-Kesho Account by mobile operator Safaricom.  The…

GijimaAst, Home Affairs sign R2.5bn deal in South Africa

Home Affairs director-general Mavuso Msimang and GijimaAst officials signed a deal, said to be worth R2.5 billion, to transform the department. Aspects of the deal were recently referred to the…

Botswana’a BTC sees profits slump as costs go back up

Although Botswana incumbent BTC saw its turnover go up, costs rose ahead of increased income and saw it achieve a much lower level of profit in he run-up to launching…

South Africa Nedbank empowers small businesses through mobile technology

Nedbank has developed a mobile, cell phone-based, payment software solution that aims to allow merchants to process credit card payments without needing a point of sale (POS) terminal. The product…

BCS-NET BOUGHT OUT BY EMPOWERMENT CONSORTIUM

Network service provider BCS-Net, which was 82% held by liquidated Finstruct, has been bought by an empowerment consortium. The Finstruct group was placed under voluntary liquidation in December 2001, although…

Vodacom's Congo Dispute Goes to Arbitration

A bitter quarrel between Vodacom and Congolese Wireless Network (CWN) over the future of their joint venture in the Democratic Republic of Congo is heading for arbitration in Brussels after…

Celtel Goes for 80 Percent of Westel in Ghana

Information gathered by the Business Chronicle from a source at the Ministry of Communications indicates that the Government of Ghana and Celtel Communication based in The Netherlands have agreed on…

NetOne secures USD 60m funding to launch mobile broadband by year end in Zimbabwe

NewsDay, reports that state owned mobile network operator NetOne has secured US$ 60 million for mobile broadband services. According to the paper, the funds have been sourced from China Export-Import…

On The Money - In Brief

- In the wake of Algerie Telecom group’s partnership agreement with the Finnish network security solutions provider Stonesoft Corporation to supply integrated security solutions and continuity of services applications, the…

Verizon Business up for grabs in South Africa

Verizon Business, one of the country’s largest telecommunications service providers, is up for sale. Several sources have confirmed that the black-empowered company, majority-owned by the US communications giant of the…

South Africa’s State IT Agency Turns Corner with Profit Up by 76%

Rocky years for the State Information Technology Agency (Sita) have been put behind it, with the government's hi-tech supplier earning a net profit 76% higher than it managed last year.…

Orascom Egypt wants control of HTIL

Egypt’s Orascom Telecom wants to take control of Hutchison Telecommunications International Ltd (HTIL), according to a Reuters interview with Orascom chairman Naguib Sawiris. According to TeleGeography’s GlobalComms database, Orascom took…

BOTSWANA: CITIZENS INVESTMENTS AWAIT OUTCOME OF MASCOM BID

Citizens Investments, a local company, will know this Monday whether it has acquired 50.01 per cent in Mascom Wireless. The company has met all the requirements and was one of…

NIGERIAN GOVT GETS READY TO SELL 20% OF NITEL, RECEIVES OFFER FOR 51%

  The Federal Government has concluded plans to float its 20 per cent equity in Nigerian Telecommunication Limited ( NITEL ) on the Nigerian Stock Exchange (NSE). Also the National…

On The Money - In Brief

- Debt burdened Vivendi Universal has decided to hold on to its stake in Maroc Telecom in order to avoid losing between 800 million and a billion euros on the…

Telecel to List On Zimbabwe’s Stock Exchange for Indigenisation Compliance

TELECEL Global, partners to Empowerment Corporation in Telecel Zimbabwe, intends to list the local mobile company on the Zimbabwe Stock Exchange as part of initiatives to comply with the country's…

Netcom Buys Rival ISP, Accelon in Nigeria

Netcom Africa Limited has acquired rival Internet Service Provider (ISP), Accelon Africa Limited, in a deal sealed at an unconfirmed price as the Internet services sector comes under severe competition…

Tanzania: TTCL needs USD 50m to regenerate

The Tanzania Telecommunications Company Limited (TTCL) needs over USD 50 million to improve its services; company’s chief executive officer Said Amir Said has said.He revealed this in Dar es Salaam…

Nigerian Federal Government returns Transcorp's Nitel Stake

The Transnational Corporation of Nigeria (Transcorp) has announced that the Federal Government (FG) has returned the 51% share of incumbent telco Nigerian Telecom (NITEL) to it following a meeting on…

Nigeria’s PNN to get US$4 million to develop services

Private Networks Nigeria Limited (PNN), an NCC licensed telecommunications company, set up to provide various telecoms services in the communications sector and the winner of the Best Value Added Service…

Datatec's London Listing Falls Short

Technology group Datatec has raised less than half the cash it hoped to generate through a secondary listing in London, with institutional investors pumping in only £13,9m of the targeted…

EGYPT TELECOM IPO LOOKS LIKE BEING HEAVILY OVERSUBSCRIBED

Retail investors bidding for shares in the Telecom Egypt (TE) IPO received 10.6 percent of the number of shares they asked for, Egypt's stock exchange said in a statement on…

ICASA REPORT CASTS DOUBT ON BOTH OF SA’S SNO BIDS - MONEY THE ISSUE

A report released on Tuesday last week by the Independent Communications Authority of SA (Icasa) raised grave doubts about the viability of either of the shortlisted bids for the second…

On The Money - In Brief

- South Africa’s media and entertainment group Johnnic Communications has disposed of 15,458,810 shares in its listed equity investment in cellular phone services provider MTN Group over the past year,…

Tanzania: Govt to Pay Off Debt and Reclaim Zain Stake in TTCL

Tanzania is to pay $6.8 million it owes the Tanzania Telecommunications Company Ltd (TTCL) as one of the many steps towards getting the firm firmly back on its feet. "As…

Mali’s Sotelma reports loss for 2006 and fails to hit half year revenue targets

Sotelma, Mali’s telco incumbent has reported a loss of 5 billion CFA francs (US$10 million) for the year 2006. As of June 30th , the company has generated 34 billion…

Kenya: Safaricom Wants Sh1.4 Billion 3G Refund Paid for 3G Licence

Safaricom, the leading mobile operator in Kenya, is seeking Sh1.4 billion refund from the government as part of a fee it paid in 2007 to acquire a high speed mobile…

T-Systems in R1.8bn Mutual Outsource Deal in South Africa

Technology outsourcing specialist T-Systems has won a R1,8bn deal with Old Mutual and Mutual & Federal, transforming it from a lowly 11th in SA's outsourcing market into the sixth-largest player.…

Uganda’s technology park to get a boost through tax incentives

The Commonwealth Business Council has asked for tax exemptions for the planned information technology (IT) park, "To achieve the objective of a thriving IT park, the council has suggested an…

On The Money - In Brief

- South African private operators may soon be competing for a multimillion-rand tender to take over government's national telecommunications networks to make them more efficient and cheaper to run. Telkom,…

KENYA’S CELTEL RAISES KS4.5 BILLION FROM BOND MARKET

Celtel Kenya has raised KS4.5 billion from the Kenyan bond market. This comes on top of the KS6 billion that it raised from a group of banks and institutional lenders…

CONGO-BRAZAVILLE: SOTELCO'S AG SAYS IT'S IN GOOD SHAPE DESPITE DIFFICULTIES BUT IS MAKING LOSSES

The Administrator-General of Congo-Brazaville's incumbent SOTELCO, Blanchard Oba made "state of the company" speech designed to reassure the doubters. He said said the company was now on track despite the…

On The Money - In Brief

- SA’s MGX Holdings has sold Software Futures to an investor consortium for R20m. The deal took effect from 7 August. The transaction has been completed and depends for its…

RESPONSES

ISSUE 151: UNANSWERED QUESTIONS IN INTERVIEW WITH VISA’S BROCKLEHURST I read with interest the interview with VIsa’s Stuart Brocklehurst. I wonder if your interviewer could get the number of merchants…

Econet Protests Zain Sale, Makes Comeback Bid to Nigeria

Indications emerged that all is still not well with Zain as pioneer GSM investors in Nigeria, Econet Wireless International, is determined to return to the country by getting Zain's deal…

IN BRIEF:

- Egypt's Orascom Telecom is likely to sell its Iraqi subsidiary, Iraqna, following its failure to secure one of three 15 year mobile licences being offered last week by the…

East Africa: Wananchi Group Raises U.S.$58 Million From Venture Funds

The region's satellite television market is set for a new wave of competition as new players enter the market.Last week, Kenyan-based Wananchi Group announced it had received a $57.5 million…

South Africa: More workers now paid by mobile transfers

Since its launch in July 2010, First National Bank's corporate clients have used Pay Wallet to send over R42-million directly to the mobile phones of more than 19000 South Africans,…

Toshiba bullish on Africa

Despite a general cash squeeze on the channel and difficult market conditions, Toshiba South Africa predicts 2008 sales will grow by 127%, with its South African market doubling in the…

On The Money - In Brief

- Neneh Macdouall Gaye, the Gambian Secretary of State for Communication, Information and Technology told the National Assembly that the Government decided to sell its shares in Gamtel/Gamcel due to…

KENYA’S WANANCHI TO GO FOR IPO IN MID 2006

Wananchi’s recent merger with ISPKenya has led it to seek a private placement to help it expand further. The merged company has a 38% market share and the deal has…

On The Money - In Brief

- Fleet management technology group DigiCore has declared a maiden dividend of 2c a share after growing after-tax profit by 46.5% in the six months to December. - Black-empowered IT…

On The Money - In Brief

- France Telecom (FT) chief executive officer Stephane Richard has said his company may invest up to EUR7 billion (USD9.3 billion) in deals centred on Africa and the Middle East…

Helios Towers Suing Nigerian CDMA Network Over Contract Breaches

The sale earlier this year by South Africa's dominant landline operator, Telkom of its Nigerian subsidiary, the CDMA network, Multi-Links to another Nigerian network, Visafone may have been illegal, local…

On the Money News - In Brief

- The Central Bank of Nigeria (CBN) has granted United Bank for Africa (UBA) the final licence to operate a mobile payment service known as U-MO. In a parallel news,…

Togo Telecom teeters on the brink

Incumbent operator Togo Telecom is said to be on the verge on bankruptcy, having failed to reverse a trend of poor financial results that started in 2008. According to the…

Mobinil Records Record Quarterly Profits in Egypt

Egyptian mobile operator, Mobinil has reported its highest every quarterly profit, but warned that growth would probably slow during 2009 as the economy remains sluggish. The firm reported fourth quarter…

On The Money - In Brief

- Portugal Telecom's Chief Executive Henrique Granadeiro said Thursday the company plans to focus on its foreign operations, such as those in Brazil and Africa. Granadeiro was speaking at the…

SA’S CYBERHOST BUYS COMPANIES TO ACQUIRE WEB-BASED SOFTWARE

Software and information technology group Cyberhost is to acquire 100% effective shareholding in hospitality group Top Restaurants and Intranet from Queensgate Leisure Holdings. Cyberhost said last week the purchase would…

Orascom 1Q11 net profit boosted by Tunisian unit sale

Egyptian telecoms group Orascom Telecom Holding saw a surge in first-quarter profits following the sale of its stake in Orascom Tunisia Holding and Carthage Consortium, through which it held 50%…

Viettel Group Drops Its Bid To Acquire Orange Kenya

The Vietnamese firm, Viettel Group, has bailed out on Orange Kenya after showing interest to acquire 70 percent of the company; this leaves the company looking for a plan ‘B’.‘Viettel…

Government taken to court over sale of Ghana Telecom to Vodafone

An Accra Commercial Court is to determine whether or not it has jurisdiction to hear the suit against the sale of Ghana Telecom (GT) to UK’s telecom giant, Vodafone International.…

KENYA TELKOM REFORMS TO SAVE FIRM SH4 BILLION IN COST

Telkom Kenya's restructuring programme will save the company Sh4 billion operations costs, managing director Sammy Kirui has said. Kirui said the savings will be realised from a lean and efficient…

BPO INVESTMENT IN SOUTH AFRICA HITS RECORD HIGH

The contact centre and business process outsourcing (BPO) industry in South Africa has enjoyed unprecedented growth during 2005. According to new research conducted by Deloitte, there are now 167 contact…

TELECOM EGYPT IPO STRENGTHENS EGYPTIAN POUND

Egypt's currency has strengthened modestly in recent days, buoyed by demand for the pound by investors seeking to take part in the partial privatisation of Telecom Egypt (TE), economists commented.…

South Africa: Vodacom Dives 4,5 Percent On Earnings Warning

A trading update wiped 4.5% off Vodacom 's share price last week, with the warning of a 105% dive in basic earnings per share coming as "quite a shock" to…

South Africa’s mobile advertising to top R1bn in 2012

Mobile marketing and advertising spend in SA will reach R1bn/year by 2012, according to a new study. Mobile advertising revenues were about R500m in the past year. Year-on-year growth trends…

BTC sale now scheduled for 31 December

The much delayed privatisation of Botswana Telecommunications Corporation Limited (BTC) is now expected to go ahead on 31 December 2014. Having initially been planned for 2011, the sale first ran…

MTN announces domestic money transfer pilot in South Africa

MTN is piloting a domestic money transfer service in South Africa using its MobileMoney system, as an added value to its customers. Customers will be able to transfer and receive…

TELKOM'S BCX BUY DELAYED

Fixed-line operator Telkom has had to put the brakes on its buyout of information technology services (IT) company Business Connexion (BCX), as it has not met all the conditions for…

On The Money - In Brief

- The buzz rumour swirling round the GSM Conference in Cape Town last week? MTN is to be bought by Orange. Neither party would confirm when asked. The rumour has…

MTC SUBSIDIARY CELTEL INTERNATIONAL ACQUIRES MAJORITY STAKE IN MADACOM, MADAGASCAR

Celtel International, one of Africa's leading mobile operators and an MTC owned company, announced that it has reached an agreement to acquire a majority stake in Madagascar's mobile telecom operator,…

TTCL Seeks Sh195 Billion State Bailout in Tanzania

Members of the Parliamentary Committee on Infrastructure have asked the Government to bail out cash strapped Tanzania Telecommunication Company Limited (TTCL) and save it from collapse. TTCL is rather like…

Money – In Brief

- Telkom Kenya's Orange has entered into a partnership with Equity Bank to use the bank's 2,300 agencies across the country for its money transfer service as it seeks to…

Good news and bad news from Altron group

Mixed expectations out of electronics and communications group Altron, and its major listed-subsidiary Altech, indicate the volatility of the current business environment and the need to generate cash, analysts say.…

ZIMBABWE TELONE REAPS US$10 MILLION FROM AGRICULTURE

Fixed phone monopoly, Tel One has earned US$10 million (Z$2.5 billion at the official exchange rate) from its involvement in agriculture. Tel One is desperate for cash to replace its…

SOUTH AFRICA - EQUITIES TRADERS HYPING UMBAMBO STOCK CELL C

An equity trader selling shares related to the cellular operator Cell C has been accused of hyping the stock with false rumours of a potential listing. The Buyers Equity Guide…

BOTCHED US$16M DEAL WITH IFC LED TO AFRICA ONLINE PURGE

According to Kenya’s Daily Nation the corporate sackings that saw six top managers depart Africa Online last week have been linked to a botched investment deal at its owner, African…

Econet Evades Specification in Zimbabwe

By selling Econet Wireless' 10% stake in Kingdom Meikles Africa Ltd (KMAL), the country's largest mobile phone operator avoided government specification a fortnight ago, Business Digest has established. Sources said…

MIC divests its share in Mauritian telco Emtel to local partner

According to TeleGeography’s GlobalComms Database, MIC has a 50% equity interest in Emtel through its wholly-owned Millicom Mauritius Limited unit, while Currimjee owns the remainder. The agreement, which is subject…

Airtel’s towers sale deal in Chad and Tanzania terminated

In July last year, Airtel had announced a deal to sell 3,100 telecoms towers in the four countries to Helios Towers Africa for an undisclosed sum. Photo: ReutersNew Delhi: The…

South Africa is Sitting On R1 Billion Telecoms Fund

A fund of R1bn that telecoms operators have contributed to the government to take voice and data services to rural areas is still sitting idle when it could be used…

On The Money - In Brief

- Telecel Globe, a subsidiary of Egypt’s Orascom Telecom, has announced its objectives to develop the mobile network of its newly acquired Namibian subsidiary Cell One by ‘investing hundreds of…

Chinese firm to set up Phone Assembly Plant in Rwanda

A-Link Technologies from China has set up a $500,000 phone assembling plant in Rwanda that is producing 200 mobile phones a day. The company's president, Edward Yin, told The EastAfrican…

CELTEL'S KENYA HALF-YEAR PROFITS FALL TO SH64M

Mobile phone operator, Celtel Kenya Limited's half-year after tax profits dropped to Sh64 million in the first six months to June from Sh626 million registered in the same period last…

TELEKOM MALAYSIA ENTERS EGYPT

Telekom Malaysia Bhd (TM) has ventured into Egypt through a partnership with Egypt-based Raya Telecom, a telecommunications and IT company in the Middle East, to set up an Internet Protocol…

On The Money - In Brief

- Zimbabwe’s High Court last week postponed placing mobile telephone service provider Cosmos Cellular (Pvt) Limited under provisional judicial management until the outcome of Cosmos’ Supreme Court appeal. The Posts…

Nigeria’s Bankers' Institute Clamour for Collaboration on IT Infrastructure

The Chartered Institute of Bankers of Nigeria (CIBN) has called on bank operators and regulators to explore ways of collabora-ting on the provision and utiliztion of information tech-nology infrastructure (ITC).…

EIB lends EUR 20 mln to TV Cabo for Angola network expansion

The European Investment Bank (EIB) will provide a EUR 20 million loan to help expand TVCabo's network in Angola. TVCabo was established in 2002 and is owned by a partnership…

Holtzbrinck Ventures Gets 2.5% Direct Stake in Rocket Internet dice design

An early investor in Rocket Internet‘s seven e-commerce startups Holtzbrinck Ventures (“HV”) has exchanged its entire stakes in seven of Rocket’s most developed e-commerce businesses directly into Rocket, in exchange…

US firm Novatel in R1,1bn play for DigiCore

US-based technology firm Novatel is offering shareholders of JSE-listed DigiCore Holdings R4,40/share, or R1,1bn in total, to buy the business. This offer has sent Digicore’s share price up by more…

Egyptian Mobinil Revenues Up 11% - Profits Up 9%

Egypt's Mobinil has reported an 11% rise in its first half revenues of EGP 5.2 billion (US$943 million), with with 2Q revenues of EGP 2.73 billion representing 9% growth over…

Vox Telecom Reels From Fall of Dealstream in South Africa

VOX Telecom, the AltX-listed voice and data company, had more than R200m wiped off its market capitalisation yesterday as fearful investors continued to sell after the collapse of Vox's stockbroker,…

On The Money - In Brief

- Zimbabwean telecommunications Company, Econet Wireless, said that it had secured a US$20 million loan from the Africa Export-Import Bank (Affreximbank) to expand its cellular phone network in the country.…

On The Money - In Brief

- Information and communication technology (ICT) outsourcing group Business Connexion (BCX) has taken its 'for sale' signs down. The group cancelled its cautionary announcement, saying the discussions with regard to…

AFTER SBC LOWERS ITS STAKE, TELEKOM MALAYSIA CUTS ITS STAKE IN SA’S TELKOM

Telekom Malaysia Bhd’s joint venture company Thintana Communications LLC is reducing its stake in South African telecommunications provider Telkom SA Ltd, by offering for sale as many as 33.2 million…

RESPONSES

ISSUE 136: GO AHEAD AND FORM ZAMISPA I have been reading your news often and it is very interesting how the same things go around the African countries. I can…

On The Money - In Brief

- Uganda’s Government is debating scrapping of value added tax (VAT) on mobile phones next year, the information and communication technology minister, has said. "We missed this year, but it…

ITU to promote mobile money for the poor

The International Telecommunications Union (ITU) has established a focus group on digital financial services to promote financial inclusion using ICT. It says the initiative is in response to a proposal…

Sale of 51% in Djezzy approved by GTH shareholders

Yesterday an Extraordinary General Meeting (EGM) of Vimpelcom subsidiary Global Telecom Holding (GTH) approved the sale of 51% of Algerian cellco Djezzy (Orascom Telecom Algerie) to the Algerian National Investment…

SWIFT Networks Acquires Chromecom, Plans 1,000 Additional 4G LTE Base Stations in Lagos

SWIFT Networks Limited, Nigeria’s leading provider of high-speed broadband and data services to enterprise and consumer customers has completed the acquisition of the spectrum of Chromecom (subsidiary of Monarch Communications…

BEE Partner wanted for Cell One in Namibia

Cell One's state-required hunt for black economic empowerment (BEE) partners, which will transfer some of the shareholding of sole owner Telecel Globe back into Namibian hands, starts today. One hundred…

Delta Partners looks for telecoms investment opportunities in Africa

Specialised telecoms and media investment and advisory company Delta Partners has opened an office in South Africa and is actively looking for investment opportunities in the African telecoms sector. The…

Wholesale growth tempers profits slide at Telecom Egypt

Telecom Egypt saw consolidate net profits slip 4.8% to EGP557 million ($104 million) in the first quarter of 2008, as the operator experiences greater competitive pressure on its voice revenues…

ECONET, SA’S ALTECH EDGE CLOSER TO MERGER

The proposed USD140 million transaction involving Econet Wireless International (EWI) and Allied Technologies Limited (Altech) moved closer to consummation this week following conclusion of the due diligence exercise on EWI.…

Sudan shelves telecom profit tax for three years

Sudan has scrapped a 30 percent profit tax on telecom operators until the end of 2015, replacing it with a 2.5 percent levy on total income, the state news agency…

Zimbabwe telecoms Q1 revenue falls 15 pct

Zimbabwe’s telecoms sector has reported a 15 percent decline in revenue to $213 million for the first quarter of the year compared to the preceding quarter as consumers migrated to…

Invenfin grabs 20% stake in WyzeTalk

Invenfin, the early stage venture investment arm of Remgro Limited, has acquired a 20% stake in South African social enterprise platform WyzeTalk.The investment means that WyzeTalk has now raised more…

'Telecel Stake Not Up for Grabs' in Zimbabwe

Telecel Zimbabwe is not prepared to sell part of its stake to MTN of South Africa, at least for now, as the country's third mobile phone operator embarks on a…

Cellphone Firms Under Scrutiny Over Tax Planning in Tanzania

Mobile phone operators in Tanzania are among large taxpayers that have come under the spotlight as the Tanzania Revenue Authority moves to plug loopholes in the regulations in order to…

New Shareholder for Vodacom Mozambique

Whatana Investments, a company chaired by Mozambique's former first lady, Graca Machel, has taken a five per cent stake in Vodacom Mozambique (VM), one of the two mobile phone operators…

VODACOM, MTN SQUARE OFF IN BID FOR NIGERIA’S NITEL

VODACOM and MTN are poised to do battle once again in Nigeria. Both are shortlisted to bid for a controlling stake in government-owned operator Nitel. Vodacom will bid with its…

On The Money - In Brief

- Bytes Technology Group (BTG) reported a strong performance for the year ended 29 February 2004 with a 27% improvement on adjusted headline earnings per share and an increase of…

CORA - THE IVORIAN MOBILE SAGA DRAGS ON

It is now a month since the clients of the CI’s third mobile operator have said anything to its subscribers, writes Adediha Kokou, News Update’s CI correspondent. More than a…

URA, MTN Shs136 billion tax row moves to arbiter

A tax row between Uganda Revenue Authority (URA) and telecoms company MTN has been scheduled for arbitration starting February 15 after failed attempts to resolve the matter in the boardroom…

Zimbabwe: Telecel Keen to Localise Shareholding

Telecel board chairman Dr James Makamba says the country's fastest growing mobile phone operator's shareholders are determined to address the shareholding structure that has raised eyebrows among empowerment groups as…

Zimbabwe Sets Revenue Target for LTE Spectrum Auction

Zimbabwe's government is looking to auction off 4G licenses later this year, with the aim of raising at least USD173 million from the mobile networks.It has set the target to…

American Tower Is Said to Eye MTN’s South African Assets

MTN Group Ltd., Africa’s largest wireless carrier, has received interest from American Tower Corp. for at least a part of the network of about 9,000 towers it’s selling in South…

On The Money - In Brief

­ France Telecom says that it would consider bidding for some of the assets owned by Kuwait based Zain should the company look at breaking up its African division. Zain…

On The Money - In Brief

- South Africa’s Allied Technologies Limited (Altech) announced remarkable half-year results for the period ended 31 August 2008. Revenue increased by 13% to R4.5 billion, the company’s operating profit increased…

Emerging Markets Save Day for Didata and Datatec

A couple of years ago, Dimension Data and Datatec would have liked their US operations to be larger. It was, after all, the centre of the IT universe. Now they…

MAROC TELECOM SAYS 1ST HALF REVENUE UP18.5% THANKS TO MOBILE UNIT

Maroc Telecom SA, a unit of Vivendi Universal SA , said last Wednesday that growth in its mobile-phone division helped boost revenue by 18.5% in the first six months. The…

Uganda: Airtel's Mobile Money creates seamless regional money transfer

The entry of Airtel Uganda into the Mobile Money platform is set to generate renewed innovativeness that could yet again send ripples across Uganda's telecom sector.Early last week, Airtel launched…

Intel Capital courts IT start-ups with eye on future

Intel Capital — the world’s largest venture capital investor in innovative technology — is seeking to acquire stakes in several IT start-ups in Kenya with an eye on long term…

Oger Telecom may sell South Africa's Cell C stake - chairman

Oger Telecom is looking at the possibility of selling its majority stake in Cell C, South Africa's third-largest mobile telecoms network operator, the chairman of the Middle Eastern firm told…

West Africa wants a slice of the lucrative Global Outsourcing market

West African countries hoping to position themselves as future global IT hubs face an uphill struggle, according to new research from Yankee Group. Serious labour and infrastructure problems, plus a…

On The Money - In Brief

- Kuwaiti operator Wataniya Telecom has announced the closing of USD490 million medium-term financing for its Algerian mobile arm Wataniya Telcom Algerie (Nedjma). The investment, which is on top of…

KINZ TELECOM’S BID FOR WESTEL IMPLODES – WHERE WAS ETISALAT?

Negotiations between Ghana government and the United Arab Emirates-based Kinz Telecom Group, over the sale of 66.34% stake in the second national fixed line operator, Westel have broken down. Kinz…

O3b Networks Limited raises total funding of US$1.2 billion, to finance the construction and launch of its next generation global satellite constellation.’

O3b Networks announced today that it has secured its final funding round before service launch. O3b Networks is the developer of a new fiber‐quality, satellite‐based global internet backbone for Telecommunications…

South Africa: Absa Trials Payments Via Mobile Phone

Banking group Absa conducted South Africa's first live user trial of Near Field Communication (NFC) technology on mobile phones in December, with 500 of the bank's staff members using the…

On The Money News - In Brief

- South Africa-based regional mobile operator Vodacom Group said revenue in its third quarter ended 31 December 2011 increased 12% year-on-year to ZAR17.99 billion (USD2.38 billion) from ZAR16.03 billion in…

Kenya: Samsung, KWFT Pact to Boost Mobile Banking

Samsung has partnered with local microfinance solutions provider, Kenya Women Finance Trust - Deposit Taking Microfinance (KWFT-DTM) to promote the uptake of mobile technology solutions among women.The joint programme by…

On The Money - In Brief

- Maroc Telecom, the largest mobile operator and only fixed-line operator in Morocco said first-quarter revenue rose 14%, helped by strong revenue growth at its Moroccan mobile division. Revenue for…

READER'S CORRECTION: ISSUE 267 - VIDEO BLOG, NOT PODCAST

The article was a very good introduction for podcasting and vlogging in Africa. One correction, though - the mobile phone experiment I did with Mustapha wasn't a podcast. It was…

TEAMS FIBRE CABLE SHAREHOLDING MEETING SET FOR JULY 4TH

Stakeholders in The East Africa Marine System (TEAMS) project will meet on Wednesday this week to discuss the shareholding structure. The project seeks to boost the region's communications infrastructure by…

Mobile-Phone Operator Movicel Invests U.S.$ 1 Billion in switch to GSM

At least USD one billion is the global amount to be invested for next four years, by the Angolan mobile phone company, Movicel, in implementing several expansion and modernisation projects,…

Gamtel/Gamcel turns in a profit on 2010 accounts but challenges ahead for Gamcel

Gambia’s National Assembly has approved the annual reports and financial statements of state-run PSTN operator Gambia Telecommunications Company (Gamtel) and its cellular network operating subsidiary Gambia Telecommunications Cellular Company (Gamcel)…

Zimbabwe: Ecocash Spreads to Kombis

Econet Wireless has announced that businesses that accept payments in EcoCash are now able to exchange them for cash at Econet Wireless Zimbabwe approved banks. In a statement, Econet said…

MTN CONCLUDES $70 MILLION VGC DEAL

MTN Nigeria has concluded plan to purchase VGC Communications Limited (VGCCL) to the tune of $70 million (N9.3 billion). Sources close to VGC informed our correspondent that the deal was…

COMMUNITEL SET TO SNATCH 25% WAREHOUSED SNO SHARES?

A consortium led by telecommunications group Communitel is expected to snatch government’s warehoused 25% stake in the second phone operator’s licence, it emerged last week. This would effectively increase Communitel’s…

Zimbabwe: MTN's acquisition of NetOne stake may fall through

South African news service Bizcommunity reports that MTN’s planned acquisition of a 49% stake in Zimbabwean incumbent NetOne could be in danger of collapsing after it was revealed that some…

N29BN DEBT OWED BY NITEL WORRIES TRANSCORP

Transnational Corporation of Nigeria Plc (Transcorp) has unfolded business transformation plans aimed at repositioning its business portfolios, meeting stakeholders' expectations and competing favourably in the global economy.The new agenda, which…

Essar to raise stake in ETK from 80% to 100%; new local strategic investor sought

Essar Communications Holdings is looking to increase its stake in Essar Telecom Kenya (ETK) from 80% to 100%, according to Business Daily Africa. Essar Communications will reportedly purchase the 20%…

Airtel’s plans to delist Zain face rejection in Zambia

The local capital market may halt Bharti Airtel’s plans to delist Zain Zambia Plc from the local Lusaka Stock Exchange (LuSE), according to sources close to the transaction.And the Lusaka…

Kenya: Mobile Phone Money Transfers Race Ahead of Debit Cards

Four in five new cell phone subscribers are signing up for money transfer services, the latest industry data shows.The new statistics indicate that the handset has become a key tool…

IFC invests in Convergence Partners fund to improve Africa’s communications infrastructure

IFC, a member of the World Bank Group, last week announced an equity investment of $35 million in the Convergence Partners Communications Infrastructure Fund to support more rapid development of…

Kenyan mobile money deposits reach $8 billion

A Kenyan sends money through his mobile phone. The sector has witnessed a phenomenal rise, industry regulator data shows.   Kenyans deposited $8 billion into mobile money services for the year…

Liberia: LTA Accounts Frozen

The Executive Mansion yesterday said President Ellen Johnson has ordered a full investigation into all standing contracts between the Ministry of Public Works and construction companies in the country, and…

In South Africa, Telkom’s results are down and Vodacom’s are up

Profit from Telkom's core business of voice calls has dived a punishing 19% in the past six months, compounding its woes as it looks for ways to earn income in…

ZAMBIAN OPERATOR RAISES LARGEST EVER LOCAL CURRENCY DEBT

Celtel Zambia says that it has raised US$105 million from a syndicate of banks, to assist in repaying existing loans and fund further network expansion. This landmark transaction is the…

INTELSAT, PANAMSAT MERGER SET TO TAKE ADVANTAGE AS BARRIERS TUMBLE IN AFRICAN TELECOMS INDUSTRY

Intelsat has completed its $6,4bn acquisition of PanAmSat to become the world's largest provider of satellite services to telecoms companies, governments and the media. The deal is important for Africa…

ZIMBABWE'S SNO TELEACCESS HANGS BY A THREAD AS FINANCE RUNS OUT

The stalled second fixed telephone network, TeleAccess, precariously hangs in the balance as it emerged that its financiers, who have since doled out USD147 billion, no longer have the financial…

AMITELO SET TO LAUNCH GHANAIAN JV WITH CAPITAL TELECOM AND MOBICALL

Amitelo Communications Inc. (OTC: ALOC) is preparing to file the necessary paperwork for the incorporation of its subsidiary: Amitelo (Ghana) Ltd. The company is currently negotiating a Joint Venture Agreement…

South Africa: Empowerment law to be made compulsory for ICT companies

The government is considering legislation to compel information communications and technology (ICT) groups and broadcasters to sell minimum equity stakes to black investors, claiming the voluntary model is being flouted.…

BID FOR BUSINESS CONNEXION BLOCKED IN SOUTH AFRICA

The Competition Tribunal yesterday said it had blocked Telkom's R2.4bn takeover bid for IT outsourcing firm Business Connexion Group. The tribunal is expected to release its motivation for the decision…

World Bank Provides Additional U.S.$44.7 Million for E-Ghana Project

The World Bank last week approved financing in the amount of US$44.7 million from the International Development Association (IDA) to the Government of Ghana as additional funding for the ongoing…

On the Money – In Brief

- JSE-listed multinational IT group Datatec has sold 26% of its South African distribution business, Westcon SA, to the Mineworkers Investment Company for R28m. The group, headed by CEO Jens…

South Africa: Neotel starts restructuring with potential retrenchments

Neotel is busy with a process which may see many employees losing their jobs, but the company is not saying anything concrete It is well known that Neotel is not…

Money News - In Brief

- AItel Tanzania has signed up over 10,000 local money agents to handle its mobile money service transactions.- Tunisian Prime Minister Hamadi Jebali has met with Qtel’s chairman Sheikh Abdullah…

Telkom revenues drop 0.7% despite 8ta mobile growth

South African telco Telkom has reported operating revenues of ZAR33.08 billion (USD3.92 billion) for the twelve months ended 31 March 2012, down 0.7% compared to the company’s full year revenues…

EcoCash creates ‘parallel payment system’

Businesses that accept payment in EcoCash are now able to exchange it for cash at Econet Wireless Zimbabwe approved banks, the company said today, creating a parallel payment system in…

CompCom recommends approval of MTN, Afrihost deal

South Africa’s Competition Commission (CompCom) has recommended to the country’s Competition Tribunal the unconditional approval of MTN South Africa’s proposed acquisition of internet service provider (ISP) Afrihost, TechCentral reports. The…

MTN ups Rwanda stake

The MTN Group has concluded an agreement to purchase a further interest in MTN Rwanda, increasing its shareholding from 40% to 55%. The purchase of the stake from Tristar Investments,…

MOBITEL ENTERS US$363 MILLION FUNDING AGREEMENT IN SUDAN

MTC Group has inked a US$363.3 million development deal for its Sudanese venture Mobitel. The facility, called Murabaha, has been supplied by both regional and local financial institutions including Kuwait's…

KENYA GOVT MAY LET VTEL OFF 30% LOCAL STAKE AS IT CONSIDERS RULE CHANGE

The government of Kenya is considering abolishing the rule that stipulates that foreign companies investing in the telecommunication sector must allocate at least 30 per cent shares to nationals. It…

MILLICOM ENDS TALKS ON POSSIBLE MERGER

The emerging-market phone company Millicom International Cellular said on Monday that it had pulled out of merger discussions with a potential buyer, which has previously been identified as China Mobile…

INVESTORS NOW SHY AWAY FROM FIXED LINE TELEPHONY

Declining global investment in fixed line telephony is likely to undermine Kenya's search for a second national operator. Dr Cosmas Zavazava, a senior International Telecommunications Union (ITU) official says Africa…

ECONET WIRELESS NIGERIA DENIES SALE TO VODACOM STALLED

In a sworn affidavit presented to the Federal High Court, Tunde Oyewole, Legal adviser to EWN advised that the negotiations on the equity investment with Vodacom International Limited had been…

Nigeria: Zinox Acquires Enugu Coal-City Wifi

Zinox Telecoms has taken over control of Enugu Coal-City Wifi project following a buyout of the Enugu State Government in a Joint Venture between the state and Zinox Telecoms at…

“Lean Operator Model” is the way forward according to Helios Towers’ CEO

As operators are looking at innovative, cost-effective and efficient ways of managing their businesses, Helios Towers Nigeria, HTN looks forward to closely working with operators to help reduce their site…

IN BRIEF:

- As part of its programme to rid itself of debt, Telkom Kenya handed over the Kenya College of Communications Technology (KCCT) to Communications Commission of Kenya (CCK) as part…

Bharti to invest USD150 million in Zambian unit over next three years

India’s Bharti Airtel has revealed it expects to invest around USD150 million in Zambia, with the bulk of the funds being put towards enhancing both 2G and 3G coverage across…

Uganda: Airtel, MTN Sue UTL Over Debts

The Commercial Court has become the latest battleground for telecommunication firms a few months after the industry witnessed major price wars in the race for customers. Daily Monitor has established…

Money News - In Brief

- Last week GAMTEL signed a Fibre Optic Data Service contract with the Medical Research Council (MRC) amounting to D5 million, at a ceremony held at the MRC building in…

Let me tell you how it will be: Taxman targets Cote d’Ivoire telcos

The Cote d’Ivoire government will increase taxes on telecoms companies and require them to invest in government bonds this year, as part of a plan to boost fiscal revenues and…

Maroc Telecom’s revenue up 1.9% in 9M14

Maroc Telecom, the country’s leading telco in terms of subscribers, has published its financial results for the nine months ended 30 September 2014, reporting a 1.9% annual increase in revenues,…

Sudan’s telecoms firm shrugs off US sanctions to expand in Africa

U.S. sanctions on Sudan’s telecoms company Sudatel are having no effect at all as it pursues an expansion into Africa by seeking stakes in Nigerian and Congolese operators, its Chief…

STATE BID TO ATTRACT CALL CENTRES TO SOUTH AFRICA FALLS FLAT

A Government scheme to lure international call centre operators to SA has not elicited a single application, it emerged last week, dashing high hopes that up to 100,000 new jobs…

TELKOM SOUTH AFRICA TO BUY INTO UGANDA TELECOM

Telkom South Africa is in final stages of buying into Ucom, the consortium that owns 51% shares in uganda telecom. Uganda telecom's corporation secretary Donald Nyakairu said the two entities…

TWO MORE BLACK EMPOWERMENT DEALS IN SOUTH AFRICA

Two more black empowerment deals have been announced in the information technology (IT) sector. TuringSMI has signed a deal that puts 49% of its South African subsidiary into local hands.…

MTN SEEKS TO INVEST IN OTHER MARKETS OUTSIDE AFRICA TO INCREASE PROFITS

In order to deepen its business and increase subscriber base, MTN is seeking expansion opportunities in the Middle East and other parts of Africa where it currently has no presence.…

On The Money - In Brief

- NITELlast week signed an agreement with a consortium of banks to raise N14 billion in short term loan facility to finance its operations. A consortium of about four banks…

Uganda: Mara Group Set to invest in Local Telecom Industry

One of Uganda's home-grown business groups with a global presence is seeking access to venture into the competitive local telecommunications industry. The Mara Group which is behind the Kensington Luxury…

MTN Launches Small and Medium Business Training Project in Uganda

Small and Medium Enterprises with an annual turnover of between Shs250 million and Shs20 billion are set to benefit from MTN and KPMG's newly launched Business Training programme. The one…

Kenyan government strikes a deal with France Telecom

A stand-off between the Kenyan government and France Telekom - its fellow shareholder in Telkom Kenya - has been resolved after three months of disputes, reports the East African newspaper.…

High VAT bars many Tanzanians from using smart phones claims Nokia

The government has been urged to reduce the Value Added Tax (VAT) in mobile phones operations to enable subscribers to afford smart phones services as one way of boosting economic…

AccessKenya to invest over US$50,000 to expand data centre

Leading data center provider AccessKenya has invested an additional Sh5 million (US$60,000) in boosting its capacity of its data center in the country. It comes as the same company announced…

LapGreenN expansion in Sierra Leone stalls

As a recent court injunction postpones indefinitely the expansion plans of Libya-based Lap Green Networks in Sierra Leone, company executives say they have documentation countering claims from the founder of…

Zimbabwe CTC goes after Econet

The Competitions and Tariffs and Commission has started gathering information, which may result in a fully fledged investigation on alleged uncompetitive behaviour by Econet Wireless.CTC has arranged a meeting with…

Main One Signs Pioneer Consulting to Supervise Undersea Cable Project in West Africa

Engineering and research company Pioneer Consulting has been appointed by Main One to supervise the design, engineering and implementation of the project. Phase one of the Main One undersea cable…

Telemasters' Cautious Approach Pays Off in South Africa

Taking a conservative attitude in its pre-listing forecast has paid off for telecoms company Telemasters, allowing it to post maiden results that handsomely outstrip the expectations set by its directors.…

NIGERIAN FIRM IN BT'S $20BN DEAL

British Telecom has entered into a US$20 billion partnership deal with a Lagos-based wireline telecoms firm, 21st Century Technologies. Within the partnership agreement, 21st Century Technologies will manage the Nigerian…

VODACOM LOOKS AT R7.5BN BLACK CAP

Vodacom is planning to use an agreement thrashed out by the hi-tech sector to sell shares worth R7.5bn and still be considered sufficiently black-owned. The company said last week that…

CONFERENCE PLEDGES TO BRIDGE THE CONTINENT’S BANKING DIVIDE

Africa’s financial sector aspires to world-class systems and standards that match best practices in developed economies. But at the same time, they have to seek growth in the region’s vast…

On The Money - In Brief

- Overseas Telecom AB, where TeliaSonera owns 65 percent of the capital, has sold its 32 percent holding in the telecommunications operator MTN Uganda to MTN International (Mauritius) Ltd, wholly…

CASH- STRAPPED NITEL GIVEN N14 BILLION LOAN APPROVAL BY BPE

  Cash-Strapped Nigerian Telecommunications Limited has secured the nod of the Bureau for Public Enterprises to draw on the controversial N14 billion syndicated loan for it by some local banks.…

South Africa: UBS Removes MTN From List of Stock Picks

Africa's largest cellphone company, MTN, has been removed from UBS's list of top telecommunications stock picks due to concern about the effect of SIM card registration requirements in Nigeria. UBS…

On The Money - In Brief

- Having earlier this month pushed back a final decision on whether to block regulatory approval of a bid by France Telecom (FT) for the remaining shares in Egyptian Company…

Money – In Brief

- Maroc Telecom and Gabon’s government signed, on 23 December 2010, an amendment to the share purchase agreement of 2007 under which the Moroccan telco bought 51% of Gabon Telecom,…

Tanzania: TRA 'Cries' As Mobile Phone Pricing War Ruins Tax Collection Targets

The intensified price wars among mobile phone operators has adversely revenue collection in February, as collection of Value Added Tax (VAT) was short of target. The price wars resulted into…

Nigeria: Syntel joins hands with Ericsson in bid to acquire NITEL

Nigerian firm Syntel has finalised a technical partnership agreement with Swedish equipment vendor Ericsson in an attempt to acquire a 75% stake in fixed line incumbent NITEL, after the latest…

Bharti Airtel May Sell Africa Tower Business

Indian telecommunications company Bharti Airtel may sell its $1.8 billion-valued Africa tower business, to reduce debt of about $9.69 billion.Airtel which incurred most of its debt from the $10.7 billion…

France Telecom takes bigger stake in Mobinil Egypt

European carrier France Telecom said Sunday that it has secured commitments from minority shareholders to acquire yet more of leading Egyptian mobile operator Mobinil. Mobinil is at the centre of…

Telkom South Africa completes take-over of Nigeria’s Multi-Links

The share which was traded for $130 million has given Telkom 100 per cent ownership of the company having acquired 75 per cent of the company earlier in 2007. The…

On The Money - In Brief

- Strong indication have emerged that the Federal Government may revoke the sale of Nigerian Telecommunications Limited (NITEL) to the Transnational Corporation plc (TRANSCORP) as the Senate and the government…

AUDIT REPORT CASTIGATES ETC IN ETHIOPIA

The audit report of the Ethiopian Telecommunications (ETC) revealed that there were several flaws with different procurements made by the corporation. The purchases of broadband internet, CBAC data network, and…

TRANSPARENCY ISSUES DOG $400M GSM DEAL IN NIGERIA

The recent announcement by the Nigerian Communications Commission (NCC) that Mubadala Development of United Arab Emirates has been offered Nigeria’s fifth GSM slot for $400million has raised issues about how…

On The Money - In Brief

- Standard & Poor"s yesterday upgraded Telkom"s foreign currency long-term corporate credit rating to BBB from BBB-, with a stable outlook. The upgrade reflects Telkom"s sustained strong cash generation, materially…

Kenya’s BPO Operators Forecast Robust Activity After Landing of Fibre

The outsourcing sector in Kenya will see exponential growth this year, players in the sector have said. Ms Peres Were, managing director Cascade Global, says landing of the fibre optic…

On the Money News: In Brief

* Rwandatel will invest Rwf900 million in developing the ‘Mobile Money’ service .Libya African Investments Portfolio (LAP), the investment arm of the Libyan Government which owns 80 percent of Rwandatel…

Zimbabwe Parliament Ratifies U.S.$45 Million Loan for NetOne

Last Wednesday Wednesday Zimbabwe’s Parliament ratified a US$45 million loan from the Import Export Bank of China for NetOne's second (2G) and third generation (3G) network rollout project set to…

IT and telecoms jobs in decline in South Africa

Recruitment activity in Information Technology and Telecoms decline, but some skills still in big demand The March 2011 CareerJunction Index (CJI) Report was released last week, revealing the latest recruitment…

MTN MobileMoney debuts new e-commerce payments system in South Africa

MTN MobileMoney is introducing an e-commerce payment mechanism called payD that allows SA consumers to buy products and services online using their debit cards. Budget airline 1time is the first…

Crystal Ventures plans to sell its 20% stake in MTN Rwanda

Rwandan investment firm Crystal Ventures is reportedly considering offloading its 20% stake in MTN Rwanda, the country’s leading cellco in terms of subscribers, via an initial public offering (IPO) on…

South Africa’s Altech Acquires Majority Stake in NuPay

Allied Technologies Limited (Altech) today announced the purchase of 50% plus 1 share in NuPayment Solutions (Pty) Limited (NuPay), a payments processing company focused on the automation of electronic debit…

Subscriber Surge Lifts Vodacom's Revenue in South Africa

Mobile operator Vodacom has pumped up its revenue 13.7% for the nine months to December 31, generating R40.5bn for the period. The growth was spurred by an even more robust…

On The Money - In Brief

- South African cellular group Vodacom has reported a 22.9% increase in full-year operating profit to ZAR10.9 billion (USD1.5 billion), with revenues up 20.9% to ZAR41.1 billion. The group’s customer…

VODAFONE SAYS MYSTERY MOBITELEA STAKE IN SAFARICOM OWNED BY “CHANNEL ISLANDS COMPANY”

The mystery over the owners of the company deepened last week when Vodafone (UK) Ltd declined to reveal the local shareholders of Mobitelea, said to own a five per cent…

READERS' RESPONSES

Issue 234: Mobile goes wi-fi On reading this article, a few things occur to me: - wi-fi phones are fundamentally different from GSM/GPRS/3G phones in that they completely bypass all…

ACCEPTANCE OF VODACOM OFFER BY NIGERIA’S EWI RINGS BELL ON ROUND ONE

In an Extra-Ordinary General Meeting attended by three state governors, Bola Tinubu of Lagos, James Ibori (Delta) and Victor Attah (Akwa Ibom) yesterday, the Board of Econet Wireless Nigeria Limited…

On The Money - In Brief

- Egyptian mobile operator MobiNil has denied recent claims that it is late in paying the January instalment for its 3G licence, Reuters reports. MobiNil CEO Hassan Kabbani said of…

Red tape holds up Microsoft BEE deal

Microsoft is waiting for the department of trade & industry to give it the go-ahead for its empowerment plan so it can proceed with plans to invest nearly R500m in…

South Africa’s SilverBridge to report a loss

Listed financial services software provider SilverBridge will report a loss in the full-year to February, reversing its previous profitable position. The company says in an announcement to shareholders that it…

Automated Banking Deposits come to Nigeria

The ongoing revolution in the Nigerian Information Technology (IT) market will enable Nigerians to get access to latest technologies in banking services with the introduction of money deposit ATMs in…

DealDey Has Just Raised A $5 Million Series B From Kinnevik

DealDey, a Nigerian ecommerce website that aggregates discounted goods and services has raised $5 million in follow-on funding, TechCabal has learnt from reliable sources.The startup’s second round of funding comes…

AG proposes out of court settlement over Ghana Telecom Sale

The court action by Prof. Agyeman Badu Akosah, a former Convention People’s Party (CPP) presidential hopeful and five others, against the Government of Ghana for the sale of 70 percent…

ICTs' contribution to Tunisia’s GDP set to reach 13% by end of 11th plan

Minister of Communication Technologies El Hadj Gley announced that the share of the information and communication technologies (ICTs) sector in the GDP will exceed 13% by the end of the…

ONLINE AUCTIONEERS BUY INTO JUMP TECHNOLOGIES

Global internet auction company bidorbuy.com has bought 22% of Jump Internet Technologies, the brains behind the local online shopping comparison website, Jump Shopping. The size of the deal was not…

On The Money - In Brief

- South Africa’s Competition Commission on Tuesday last week recommended that the proposed merger between listed technology company Allied Technologies (Altech, ALT) and NamITech Holdings be prohibited. The Commission has…

PRIVATE SECTOR BUY-OUT OF MARCOC TELECOM AS VIVENDI SET TO SELL STAKE? 

Morocco’s Maroc Telecom could end up under private control sooner than expected as a result of a rushed asset sales by its second-largest shareholder, Paris-based Vivendi Universal SA. Potential Arab…

GHANA TELECOM LOSING US$1MILLION A WEEK

Ghana Telecom is losing about US$1 million a week, according to a report in the Ghanaian Chronicle. According to the paper the company has gone from earning US$42 million a…

Mali’s SOTELMA set for privatisation in 2008, delayed from 2006

The privatisation of Sotelma that was supposed to have happened in 2006 has now been scheduled for 2008. However as reported last week, the company lost FCFA12 billion to the…

Lower revenues, higher ad costs prompt net income slump for MobiNil in 3Q10

Egyptian cellco MobiNil has released its financial results for the three months ended 30 September 2010, revealing a 41% plunge in net profit, which the operator attributed to lower service…

Money – In Brief

- The growing use of plastic money has attracted the two major payments solutions companies, Visa International and Mastercard to set up base in Kenya. Visa International has announced plans…

Government looks set to sell Rwandatel by year-end

The government of Rwanda is hoping to sell telecoms operator Rwandatel by the end of the year in a move aimed at raising funds to pay off the company’s creditors,…

Kenya’s GSMA calls on president to cancel mobile money transfer tariffs

Kenya’s GSM Association has called on Kenya’s President Mwai Kibaki to cancel and reject a proposed law that would levy a 10 percent tariff on all mobile money transfer transactions…

Telkom may look at buying Cell C: Maseko

Bloomberg recently reported that Cell C is working with Goldman Sachs to explore the possibility of a sale.Citing sources familiar with the matter, Bloomberg said the possible sale would be…

Effects of HP's Restructuring, Job Cuts on South African Uncertain

HP's operations in SA are without a local head after the sudden resignation of country manager Oliver Fortuin last month, after just seven months in the job. A search for…

On The Money - In Brief

- Bahrain-based Bintel plans to invest $250m to increase its presence in Africa and at least three new markets over the next two years as part of its future expansion.…

Hits Plans US$500 Million Investment in Tanzania’s Mobile Market

New mobile phone operator Hits Tanzania Ltd plans to invest US$500 million in its countrywide coverage within 13 months. The firm's CEO Gerhard May, said Hits is targeting a network…

MPS QUESTION UTL PHONE DEAL WITH SUDAN FIRM

MPS have questioned the deal between uganda telecom (utl) and a Sudanese company called Gemtel. The legislators want the information and communication technology minister, Ham Muliira, to explain the contract…

RESPONSES

ISSUE 176: MAURITIUS CORRECTION I would like to bring your attention to the article on Mauritius in ‘in Brief" on issue 176: 1. DCL’s director’s last name is : Ramalingum…

On The Money - In Brief

- Standard Bank London Ltd said it had arranged, along with Sumitomo Mitsui Banking Corp, a US$250 million four-year syndicated revolving credit facility for South African mobile phone operator MTN.…

EGYPT’S MOBINIL REPORTS US$76.4 MILLION PROFIT

The Egyptian Company for Mobile Services (MobiNil) recorded 422 million Egyptian pounds ($76.4 million) in consolidated net profits for 2002, a 23.8 percent increase compares to last year’s figures. Fourth…

South Africa: No Stopping MTN As Revenue, Subscriber Numbers Rocket

MTN's US$5.5bn acquisition of the rival operator Investcom has given its figures a massive fillip, allowing Africa's most successful cellular network to report a staggering 90% rise in subscriber numbers…

Rural Varsities Get Better Connected in South Africa in R28 million funding deal

R28 million has been approved to partially fund internet access networks for rural higher education campuses. Higher Education South Africa and the Tertiary Education Network of South Africa (TENET) had…

Money News - In Brief

- The government of Guinea-Bissau is preparing the financial restructuring and revaluation of its nation PTO Guinea Telecom ahead of the proposed privatisation of the operator, Prime Minister Carlos Gomes…

Tigo Ghana reports one-third of users on mobile money

Ghana’s telecom operator Tigo Ghana has reported that around one-third of its customers are currently using its mobile money service Tigo Cash. It said that the platform was seeing around…

Kenya to Secure Online Transactions

The government has set up an online identity and verification system in order to create a secure online transaction environment.Kenya ICT Board Project Manager Evans Kahuthu said that the digital…

MTN headline earnings could rise 15%

MTN said on Thursday that it expects that its headline earnings per share (Heps) for the full-year ended 31 December 2014 rose by between 5% and 15%.The mobile operator, which…

On The Money - In Brief

- South Africa’s mobile operator MTN's proposed 23bn tie-up with India's Bharti Airtel has won the support of its largest shareholder, the Public Investment Corporation (PIC), although the PIC wants…

Sibling Rivalry May Scupper MTN Deal in South Africa

Sibling rivalry between the chairman of Reliance Communications, Anil Ambani, and his even richer and more powerful brother, Mukesh, may scupper a potential merger with MTN. The unseemly squabble is…

On The Money - In Brief

- Mincom, a software and service provider will be acquired by Francisco Partners in an all cash transaction valued at AUS$315m (R1.85bn).  Francisco Partners proposes to acquire all shares and…

TELKOM SOUTH AFRICA ACQUIRES MULTILINKS FOR $280M

South African fixed-line operator Telkom has confirmed that it has bought 75 percent of Multilinks for $280 million to expand further outside its home base.  This acquisition has already raised…

ECONET BUYS S.AFRICA'S ALTECH OUT OF JOINT VENTURE

Econet Wireless Group has agreed to buy South African IT firm Allied Technologies out of the companies' joint venture for $87.5 million, Altech said on Wednesday. Altech said the two…

NEW EMERGING AFRICA FUND WILL TARGET TELECOMS

Following a successful competitive tender the UK’s DFID has selected a consortium led by the Standard Bank Group, together with Barclays PLC, the Netherlands Development Finance Company (FMO) and Emerging…

Minister says Ghana Telecom privatisation on course, France Telecom interested

The Ghanaian Government says it is on course to privatize Ghana Telecom by the end of the year. Minister of Communication, Dr. Benjamin Aggrey Ntim says the transaction advisers have…

On the Money – In Brief

* The Algerian government has declared that it is only willing to negotiate with Orascom Telecom about the purchase of the company’s local mobile unit, Djezzy, and not with Russian…

Money News – In Brief

- Iran’s Minister of Communication and Information Technology, Reza Taghipour, is reportedly pushing for South African group MTN to sell off a 21% stake in the country’s second largest mobile…

Sudan: Zain Sudan Repatriated Part of Its Profit Abroad in 2012

Zain Sudan has been able to repatriate a portion of its operating profit abroad in 2012, a senior banking official told Sudan Tribune today.The official who spoke on background said…

Altron offers to buy out Altech minorities

South Africa's Allied Electronics (Altron) said on Friday it had made a firm offer to acquire all of the share capital in Allied Technologies Limited (Altech) it does not already…

SPARK Raises $2m For Nigerian Internet Startups

Lagos-based Internet group, SPARK has raised a $2 million investment from a syndicate of 17 international investors, based on a $10 million valuation for its network of Nigerian internet startups.The…

No End in Sight to Refunds Blame Game in Kenya

The blame game on who and what is causing the delay in issuing refund cheques for the Safaricom IPO is in full swing. So far, the need to authenticate the…

NIGERIAN TELCOS OBTAIN FREEDOM FROM MULTIPLE TAXATION

New found boldness by the country's judiciary in delivering landmark judgments against other arms of government re-echoed last week when a Federal High Court sitting in Lagos declared null and…

CELTEL ANNOUNCES INTENTION TO BUY VMOBILE BUT ECONET CONTESTS THE PURCHASE

Africa's third largest mobile services provider has bought a majority share in Nigeria's Vmobile for $1bn, the company said last Tuesday. "MTC Group has acquired Vmobile in Nigeria through its…

On The Money - In Brief

- Intelsat has revealed it will buy PanAmSat for USD3.2 billion in cash, creating the world’s largest satellite broadcaster. The pair announced the merger on Monday after receiving approval from…

On The Money - In Brief

- African Lakes will delist from the London and Nairobi stock exchanges as a further cost-cutting move by 3 March. The company will then seek an Alternative Investment Market (AIM)…

AccessKenya to buy Openview Business Systems

AccessKenya Group, Kenya’s only publicly listed ICT company, today announced that it has reached agreement with the owners of Openview Business Systems, one of Kenya’s leading IT services providers, to…

Telecoms Rates, Offers and Coverage (briefs)

*In South Africa, Vodacom has thrown down the gauntlet to competitors with the launch of a R1.40 all-day voice call tariff to all mobile operators. Shameel Joosub, the MD of…

Signalhorn Completes Installation of Over 400 Point of Sale Sites in South Africa

Signalhorn has completed the rollout of over 400 point of sale (PoS) sites which service a global fuel retailer’s South African network. This global fuel retailer benefits from Signalhorn’s hybrid…

Telecom bankers predict up to $2 billion more Africa mobile towers sales in 2013

Leading telecom and infrastructure chiefs are meeting in London on June 20 discuss the surge in mobile tower sales in Africa, with US$2bn more sales expected in 2013, according to…

Telecom Namibia's Debt Ratings Put on a Negative Outlook

Fitch Ratings has affirmed Telecom Namibia Long-term local currency debt rating at 'BBB-' and National Long-term rating of 'A(zaf)'. The Outlooks are Negative.The affirmation continues to reflect the one notch…

Fujitsu Siemens Takes On Black Partners in South Africa

Fudjitsu Siemens Computers is selling a quarter of its local subsidiary to black investors, becoming the first major global computer maker to sell equity in an empowerment deal. The value…

SIMBA TELECOM STARTS MONEY TRANSFER SERVICE IN UGANDA

Simba Telecom in association with USAID's Rural Savings Promotion & Enhancement of Enterprise Development have launched a local money transfer service, dubbed Simba Cash. The service will be accessible at…

FRANCE TELECOM KEEN TO BUY IN NORTH AFRICA BUT FINDS PRICES TOO HIGH

France Télécom says it is looking to acquire telecoms companies in North Africa, but is concerned about the high asking prices, which it says are pricing it out of the…

CELL C TO RAISE R5BN OVERSEAS

Cell C, which holds South Africa's third cellular license, will raise 625 million euros (R5 billion) in a bond issue that will be primarily used to service its existing debts.…

RESPONSES

ISSUE 143: ONLINE PAYMENT - THE AFRICAN ECOMMERCE NIGHTMARE POST 9-11 http://www.ftpiicd.org/iconnect/dox/chege1.doc Mike Chege MASTER INTERNET MERCHANT ACCOUNTS THE WAY TO GO rufaa.com with the collaboration of a US based…

IN BRIEF:

- Ugandan businessman Charles Mbire has increased his stake in telecommunications company MTN to 5% from 2.5%. This increases his stake in the company, which is valued at about $1b…

Millicom Invests $45m In Jumia, Hellofood, Kaymu And Vamido

Emerging market-focused telecommunications company Millicom International Cellular S.A, invested an additional $45 million into Rocket Internet’s Africa online ventures, Jumia, Hellofood, Kaymu & Vamido.According to a CP-Africa report, the investment…

Senegal's Sonatel books net profit of XOF91bn in H1 2013

Senegal-based fixed and mobile operator Sonatel, a 42.30%-owned subsidiary of the Orange Group, has reported consolidated net profit of XOF91.559 billion (USD186.5 million) for the first six months of this…

On The Money - In Brief

- Chief Executive Officer of Vodacom, Alan Knott-Craig, has expressed regrets over pulling out of an opportunity that would have given Vodacom a piece of Nigeria, Africa's largest telecoms sector.…

South Africa: Cellphone banking grows up as penetration rate doubles

The penetration of cellphone banking in South Africa has more than doubled in one year, according to the Mobility 2007 research study, released in November 2007. And that usage will…

MTN borrows US$2 billion through Standard Bank

The MTN Group (MTN) and Standard Bank (SBK) have announced a US2 billion loan, which Standard Bank has arranged, for the funding of MTN Nigeria's network infrastructure expansion. The five-year…

On The Money - In Brief

- Morocco's second phone operator, Méditel, achieved a USD 54.5Mn net earning in 2006, i.e. a 266% increase compared to 2005. The turnover of the company, present in Morocco since…

MTN INTERESTED IN TRANSTEL BUT…..

MTN is watching the sale of assets of Transnet's telecommunications unit Transtel, but would first see what exactly is being sold and if it made business sense, says MTN SA…

TELKOM OFFERS R2,4BN FOR BUSINESS CONNEXION

Telkom has mounted a fresh bid to take over information technology company Business Connexion, raising its initial offer to R2,4bn, and gaining the support of five key Business Connexion shareholders.…

On The Money - In Brief

- Mozambique’s state-run fixed line provider Telecomunicações de Moçambique (TDM) has said it will invest USD50 million over the next two years to expand its infrastructure backbone in preparation for…

Etisalat's Nigeria affiliate signs $1.2 billion loan

Etisalat's Nigeria affilate has signed a $1.2 billion loan with 13 Nigerian banks, the United Arab Emirates' No.1 telecom operator said on Tuesday.The medium-term facility will be used to refinance…

Nigeria's Hotels.ng Raises $1.2 Million

Nigeria’s leading hotel booking website, Hotels.ng, has raised $1.2 million from the Omidyar Network, the investment vehicle of eBay founder Pierre Omidyar, and EchoVC Pan-Africa Fund, a seed-stage technology fund.Founded…

Uganda’s Mbire Sells 50 Percent of Nilecom to South Africa Firm

The Celcom Group, a South African telecom company, has acquired a 50.5% stake in Nilecom, one of MTN's exclusive dealers in Uganda. Nilecom is owned by Charles Mbire, a city…

Rwanda: Libyans Enter Race for Rwandatel

Lap Green Networks, a Libyan company that recently bought out 69 per cent of Uganda Telecom (UTL), is among the six companies bidding for Rwandatel. Rwandatel announced recently that 70…

On The Money - In Brief

- After announcing its desire to buy a controlling stake in Nigeria's mobile operator, Vmobile, Celtel International has said it is no longer interested in going ahead with the bid…

GHANA TELECOM SECURES USD40 MILLION IN BONDS TO EXPAND, UPGRADE NETWORKS

Ghana Telecom (GT) has secured USD40 million in bonds to expand and upgrade its networks, as it looks to meet government targets on telecoms access, particularly for those in rural…

South Africa: First National Bank Opens Up Access to Paypal Service

First National Bank (FNB) has opened up access to the PayPal service so that people with accounts at any of South Africa's banks can link their accounts to their PayPal…

AccessKenya investors set to discuss Dimension Data buyout

Investors and shareholders of Kenyan firm AccessKenya will meet on Monday for the company’s annual general meeting (AGM) to discuss the company’s future amid reports of a Dimension Data buyout.According…

TTCL recapitalised at USD45.5m; telco clears debts

The Tanzanian government has recapitalised incumbent Tanzania Telecommunications Company Ltd (TTCL) to the tune of TZS96.4 billion (USD45.5 million), Agence Ecofin writes, citing comments by Deputy Minister for Communication, Science…

Nokia Siemens, Huawei Renew Commitment to TD Joint Venture in Nigeria

Nokia Siemens Networks and Huawei Technologies Co., Ltd. (Huawei) have announced the signing of a formal agreement to reinforce the R&D capability of their joint venture, TD Tech by injecting…

Kenya: AccessKenya gets go-ahead to complete Openview deal

AccessKenya Group has received approval from the Capital Markets Authority for its acquisition of Openview Business Systems. The acquisition is one of the projects the Information Communication Technology (ICT) firm…

MTN STRENGTHENS LEADERSHIP IN AFRICA WITH STRONG RESULTS AND DECLARES DIVIDEND

The MTN Group has changed its financial year-end to 31 December in line with its operational cycle and to align itself with its international peer group. The Group is reporting…

Uganda: Mobile Payments Go International

In a matter of days it will be possible to send or receive money in Uganda across international borders at the push of a button on your cell phone. Subsequent…

Econet Claims to Be Owed USD26m by State Operators

Econet Wireless Zimbabwe, the country’s mobile market leader in terms of subscribers, says it is owed USD26 million in interconnect fees by the state-run telcos NetOne and TelOne.A report from…

Maroc Telecom to stay on growth track in 2009

Maroc Telecom, Morocco's leading telecoms group, will stay on a strong track of growth this year despite greater competition, company chairman said on Tuesday. "Our performance for this year will…

Mobile Phone Tax Revenues Hit Sh4.8bn in Kenya

The mobile phone industry's importance in the domestic economy grew significantly last year pushing the service providers to the league of top tax payers, official data indicates. Monthly Economic Review…

Vox Telecom’s @lantic to acquire Absa’s Internet Access business

@lantic Internet Services, the consumer Internet Service Provider (ISP) of leading alternative telecom operator Vox Telecom Limited (Vox Telecom), is set to buy Absa’s Internet Access business. The merger of…

GATEWAY’S LEADING POSITION IN AFRICAN TELECOMS MARKET FURTHER STRENGTHENED SINCE ACQUISITION

Gateway Communications, the provider of communications services to telecommunications operators and businesses in Africa, has further strengthened its leading market position through the completion of the integration of Link Africa,…

Egyptian telecoms take a knock amid Tahrir unrest

Egyptian shares have fallen for the eight day in a row after clashes in Tahrir continue. Egyptian shares have dropped $1.2-billion dollars of the market value but traders have said…

Egypt’s Orascom Telecom may sell IT subsidiaries

Orascom Telecom, the largest Arab telecom firm by subscribers, said on Sunday it was studying an offer for two of its information technology subsidiaries, to increase focus on its core…

On The Money - In Brief

- The Public Enterprises Evaluation and Privatisation Agency (PEEPA) has signed a contract agreement with the International Finance Corporation (IFC) to act as transactional advisors in the Privatisation of Botswana…

On The Money - In Brief

- JSE-listed software company InfoWave has reported solid interim results for the first half of the 2007 fiscal year, ended 31 August 2007. The company has reported top-line growth of…

KIMUNYA LEADS KENYA'S TEAM TO UK TALKS OVER SALE OF SAFARICOM

Top Kenya Treasury officials are in London to negotiate a multi-million-dollar deal with UK mobile phone conglomerate, Vodafone plc. The UK company wants to acquire 9 per cent of local…

On The Money - In Brief

The Cameroon government is reported to have received at least six bids for the 51% stake it is selling in state owned telco Cameroon Telecommunications (Camtel). The government revealed plans…

GHANA TELECOM CANNOT ATTRACT INVESTORS BECAUSE OF SHARE DISPUTE, SAYS CEO

Ghana Telecom cannot attract substantial investment it badly needs to stay in business because of the impasse between the government and Telecom Malaysia. Serious legal problems are believed to have…

Blue Label, Microsoft divorce goes ahead

Blue Label Telecoms shareholders on Tuesday approved a plan by the JSE-listed company to buy the 12% of the company’s shares held by US software maker Microsoft in a deal…

Three Banks Join Hands to Launch ATM Services in Ethiopia

Three Ethiopian private banks signed a Memorandum of Understanding to launch an ATM and POS network, in a move described as "the first significant cooperation between competing banks in Ethiopia…

Telecoms, Rates, Offers and Coverage

- The Nigerian Communications Commission (NCC) has said it expects there to be some 40,000 GSM base stations in the country by 2010, along with around 10,000 CDMA towers. At…

TELECOM EGYPT ANNOUNCES VODAFONE EGYPT SHARE OFFER

Telecom Egypt on Wednesday announced its offer to buy up to 24.4 percent of Vodafone Egypt in a move to increase its stake in the mobile phone operator. British group…

BUSINESS CONNEXION STOCK SOARS AFTER TAKEOVER BID

Shares in Business Connexion went into overdrive last week on news that the company may be bought out, in what would be the biggest technology take-over to date in SA.…

On The Money - In Brief

- - Investments in Nigeria’s telecommunications industry have hit an all-time high of N450 billion (USD4 billion) from the N6.75 billion ($50 million) level recorded in 1999, the Minister of…

MTN Uganda secures a US$100 Million Syndicated Corporate Credit Line

MTN Uganda has secured a $100 million syndicated corporate financing facility from 11 local and regional banks in a major credit deal. The transaction is seen as the largest syndicated…

Kenya: Bid to Block Mobile Cash Transfer Companies Flops

An attempt to block four mobile phone operators from offering money transfer services has failed after a judge dismissed the case challenging it. The case challenging the legality of the…

Paynet’s Card Processing Centre to be launched in East Africa this year

Paynet Group, a card processor and electronic payments solutions provider, says it will launch a new chip and PIN card issuing facility in East Africa by early November, in a…

New instant cash transfer from SA to Zimbabwe

Standard Bank and Stanbic Zimbabwe have teamed up with OK Zimbabwe Limited to offer person-to-person money transfers in real time from South Africa to Zimbabwe.This means people residing in South…

Yu joins Safaricom in raising mobile cash transfer fees

Essar Kenya has joined market leader Safaricom in raising charges for its mobile money transfer as operators pass on a new excise tax effected recently.Orange and Airtel are yet to…

Deal of a lifetime for entrepreneurial software developers in Africa

Microsoft has unveiled a new initiative, BizSpark, that gives start-up software companies low or no-cost access to its tools and technologies, with technical and marketing support to help them develop…

WITH NEW DEALS, ETC BIDDERS OFFER FINANCING

The Ethiopian Telecommunications Corporation (ETC) is examining project proposals from four European companies that include financing programs from governments and international banks, a service usually handled by ETC itself outside…

ECONET ACTS AGAIN TO RETAIN VMOBILE STAKE

Econet Wireless has instigated yet another court case to defend its stake in Nigerian cellular operator Vmobile, this time taking on First Bank of Nigeria. Econet has asked the federal…

Ghana makes $45m annually from BPO sector

Ghana earns about $45 million annually from the Business Process Outsourcing industry, the GNA has reported. Alhassan Umar, Executive Secretary of the Information Technology Enabled Services (ITES) Secretariat of the…

Money News – In Brief

- Telkom South Africa, the dominant landline operator and newish entrant to the local mobile market has reported that its operating revenue for the past six months declined by 3.2%…

It could be yu! Essar needs USD250m cash injection

Essar Telecom Kenya, which operates under the ‘yu’ brand name, has confirmed that it requires a cash injection of up to USD250 million over the next two years to grow…

Kenya: State to Force Mobile Money Systems Audits

Financial institutions and mobile money providers are set to come under closer scrutiny to make sure they audit their technology systems.This comes as cases of Cyber crime targeting the financial…

Kenya: M-Pesa Dealers Set to Benefit From KCB Loans

Safaricom has partnered with Kenya Commercial Bank to offer M-Pesa agents loans at 20 per cent interest, payable in 12 months.The bank has allocated Sh1.5 billion for the unsecured loan…

On The Money - In Brief

- The Vodacom group and UK-based Vodafone have been given the Competition Tribunal green light to continue with the merger, whereby Vodafone acquires a further 15% in the South African…

SEXWALE, ZIM CONSORTIUM GETS DISCOUNT ON SAHARA STAKE

Black investors including the high-profile Lazarus Zim and Tokyo Sexwale have taken a stake in technology supplier Sahara Holdings, buying its shares at a 33% discount. The R173m deal sees…

SOUTH AFRICA'S TELKOM PROFIT UP 35% ON VODACOM MOBILE GROWTH AND COST-CUTTING

Africa's biggest telecoms company, Telkom, reported a 35-percent jump in first-half headline earnings per share, thanks to a leaner wage bill and profit growth at its mobile phone business Vodacom.…

Rwanda’s Central Bank agrees to MTN's 'Mobile Money' service

The National Bank of Rwanda (NBR) will regulate the new mobile money transfer system that will soon be introduced by MTN Rwanda, the central bank Governor said. François Kanimba said…

Slow Growth Likely in Telecoms Sector in South Africa

The reduction in how much cellphone operators pay to connect calls on each other's networks, together with increased competition, will slow down growth in the telecommunications sector, according to the…

Egypt’s Mobinil posts 96% net profit loss

Egyptian telecommunications mobile operator, Mobinil has posted a 96% drop in third quarter net profits.Mobinil received only 10 million Egyptian pounds (about US $1.6 million) in profits in the previous…

Money News in Brief

- Etisalat will invest nearly $500 million to develop and improve its network infrastructure in Egypt to offer 4G connectivity of up to 100 megabits a second to its customers,…

Zimbabwe: Ecocash Spreads to CBZ Bank

Econet Wireless has partnered with CBZ Bank in the provision of mobile phone-based banking services through EcoCash, a development that will further enhance convenience for customers of the two leading…

Standard Chartered Bank tips on mobile money

Standard Chartered’s Maxweber Asiimwe has dismissed as untrue reports that banks are feeling the heat from telecom companies offering mobile money services in Uganda.In an email to The Independent, Asiimwe…

Tanzania says Zain to give up state telco shares

Zain Tanzania, part of Kuwait's Zain, plans to give up its 35 percent stake in Government incumbent TTCL, the east African nation's Technology Minister said last Monday. "Recently, Celtel has…

Telkom South Africa Plans to Grow Nigeria's Multi-Links

Telkom South Africa plans to invest more than R4.3bn to expand the network and services being offered by Multi-Links, the majority-owned Nigerian private telecommunications firm it acquired last year for…

On The Money - In Brief

- Mauritius Telecom, a 40%-owned subsidiary of France Télécom, reported net profits of USD52 million in 2005, up 19.3% year-on-year, officials said in a statement. The group’s mobile arm Cellplus…

SAFARICOM GOES DIRECTLY TO LENDERS FOR A RECORD US$108M SYNDICATED LOAN

Safaricom is seeking to raise a record Ksh8 billion (US$108.1 million) from the financial market. This will be the single largest such loan in the history of Kenya's capital markets.…

SA'S TELKOM MOVES TO GRAB 51% STAKE IN NITEL

South Africa’s dominant telecoms services provider Telkom SA is looking to acquire a 51% stake in beleaguered PTO, Nigerian Telecommunications Limited (NITEL). Telkom emerged as a possible contender in the…

EGYPT'S ORASCOM SET TO ACQUIRE MALYSIAN STAKE IN BANGLADESHI OPERATOR

Egyptian telecom giant Orascom is set to purchase through a hush-hush deal the Malaysian stakes in Sheba Telecom, a mobile phone operator which has failed to tap the business potentials…

South African Enterprises cutting back on software

An increasing number of South African enterprises are cutting back on information technology spend as a proportion of their overall turnover, according to a new study released today. The Enterprise…

Kenya: Safaricom Share Price to Remain Volatile

Safaricom's share price will remain volatile until investors get a clear picture of how the ongoing price wars among mobile phone companies will impact on the company's revenue, market analysts…

Tanzania: Exim Bank Adopts New IT Platform

Exim Bank Tanzania has now moved on to a new state-of-the-art Information Technology (IT) platform for its Core Banking applications.Speaking in Dar es Salaam on Tuesday, the Bank's Group-Head, Operations,…

Money News - In Brief

- International Data Corporation (IDC) predicts that Kenya's ICT market size will be worth USD 2 billion in 2015. Multinationals are investing in the country because it is a spring…

Money – In brief

- Chase Bank and the University Students Community Organisation (UNISCOO) have launched a MasterCard prepaid card to be used by members of the student’s union to top up and shop…

Maroc Telecom sees marginal improvement in its domestic operations in 1H14

Maroc Telecom, the country’s leading telco in terms of subscribers, has published its financial results for the six months ended 30 June 2014, reporting a marginal 0.7% annual increase in…

World Bank to Finance Communications Projects for up to US$31 million in Mozambique

The Mozambican government and the World Bank on Friday signed two agreements in Maputo under which the World Bank is to provide loans of 75.6 million US dollars for projects…

M-Cel Issues Bonds in Mozambique

Mozambique's publicly owned mobile phone company M-Cel on Friday launched its second issue of bonds, to a value equivalent to 10 million Us dollars, to finance its ambitious programme of…

On The Money - In Brief

- Organic and acquisitive growth have helped technology company Paracon post another set of strong figures showing all the arrows pointing upwards, and culminating in a dividend of 6c a…

IRANCELL REPLACES TURKCELL WITH SOUTH AFRICAN MTN

Turkish telecom giant Turkcell has lost all chances as Irancell Consortium give the priority to South Africa's Mobile Telephone Network (MTN) by signing the 300 million euro second mobile telephone…

MTS RESOLVES IN-HOUSE CRISIS AND SEEKS TO SETTLE SHARE ALLOCATION DISPUTE

Nigeria's pioneer wireless operator, MTS, has resolved its squabbles and the directors one after the other spent the past week making reassuring speeches to employees of the firm. There was…

MOBILE ROLL-OUT DAMAGES VALUE OF SA'S DELAYED UNDER-SERVICED LICENCES

Long delays in licensing black consortiums to offer telecommunications services in rural areas have damaged the viability of those businesses by giving cellular networks time to reach their customer base.…

On The Money - In Brief

- The Communications Commission of Kenya (CCK) is betting on its award of the best infrastructure regulator in Africa to attract more foreign investors. According to Pyramid Research, the size…

Pair of investors interested in loss-making Nigerian Multilinks

The chairman of Telkom South Africa, Jeff Molobela, has announced that at least two investors have shown interest in the company’s struggling Nigerian unit Multilinks, news agency Reuters reports. Molobela…

South Africa: Digital Delay Holds Up Altech BEE Initiative

Altech said last year it would sell shares to black investors in its subsidiaries, including Altech UEC, which manufactures decoders.ALLIED Technologies (Altech) has put on hold its plan to sell…

Tunisian Government Seizes 51% Stake in Orange Tunisie

The interim government of Tunisia is reported by French news media to have taken over the 51% of Orange Tunisia that was owned by the son-in-law of the country's former…

Money News - In Brief

Mitchell Elegbe, CEO of payment services provider Interswitch said that there were 18-20 million credit and debit cards in Nigeria and its Verve card had 60% market share.

Vodacom’s revenue up by 4.3% to ZAR18.3bn in 2Q14

South Africa-based Vodacom Group, part of the Vodafone Group, has published its financial results for the three months ended 30 June 2014, reporting an 4.3% year-on-year increase in revenues, to…

TelOne Seeks U.S.$280 Million for Infrastructure Development in Zimbabwe

Zimbabwe’s sole fixed telecommunication operator TelOne needs at least US$280 million to upgrade its infrastructure. TelOne, which also offers various communication services including data communication, Internet connectivity and satellite services…

Paynet - We're No Threat to Banks in Kenya

Electronic payment firm Paynet has downplayed fears that mobile money transfer services are a threat to conventional banking. Instead, the company views its recent tie-up with a mobile cash transfer…

KENYAN MOBILE PHONE FIRM SPARED IN PARASTATAL REFORMS

After failing to get Vodacom to pay enough money for its 60% stake in Safaricom to finance the Telkom Kenya redundancy package, the Government has announced that it will hold…

On The Money - In Brief

- South Africa's Sentech says it needs government to finance a R300 million upgrade so that it can offer enhanced digital TV-type services. - Pan-African mobile group Celtel International has reported…

On The Money - In Brief

- A sweetheart deal between cellular network operator Econet Wireless Holdings Limited (Econet) and its key authorised dealer, Celsys Limited, has crumbled, leaving Celsys in a delicate financial position. Celsys'…

MPs in Uganda Cite Foul Play in Shs250 Billion Internet backbone project

Parliament last wee opened investigations into allegations of corruption in the $126 million (about Shs252 billion) National Backbone Infrastructure Project.Citing inflated costs and foul play, the Public Accounts Committee (PAC)…

Zambian SEC rejects Bharti’s bid for publicly listed stake in Zain Zambia

Zambia’s Securities and Exchange Commission (SEC) has rejected Indian operator Bharti Airtel’s latest bid for the publicly listed stake of its majority-owned mobile subsidiary Zain Zambia, The Post reports. According…

Orascom Looking to Reduce Stake in Zimbabwean Mobile Network

Orascom Telecom Holdings is looking to reduce its stake in the Zimbabwean mobile network, Telecel Zimbabwe to 49 percent from 60 percent and has entered into talks with Zimbabwe's government…

South Africa's Vodacom Faces Fresh Legal Challenges to 2008 Share Distribution

South Africa's Vodacom is facing fresh legal action over a 2008 divestment of shares to Black Economic Empowerment (BEE) groups.The losing consortium that had bid to participate in the BEE…

Sonatel’s Profit Rise Continues with 6.6% in 2014

Senegal’s telecommunication giant Sonatel has announced Monday, a net profit rise of 6.6 percent to 97.67 billion CFA francs ($201.37 million) in the first six months of 2014.The company is…

Kenya’s Safaricom to list Sh10b bond for data upgrade

Mobile phone operator, Safaricom, will raise between Sh10 to Sh12 billion in a bond issue to be listed on the Nairobi Stock Exchange. The company said it would split the…

Saudi Telecom expands to North Africa

Saudi Telecom has announced its plan to seek foreign expansion, particularly in north Africa as competition in domestic market heightens. According to company chief executive officer, Saud al-Duweish, they aim…

On The Money - In Brief

- The Uganda Communications Commission (UCC) says that it requires USD8.6 million to help develop telephone infrastructure in 154 sub-counties, as part of a USD11 million World Bank grant for…

N6.1 Billion Sim Registration Tears House Apart in Nigeria

The House of Representatives last week witnessed another rowdy session following the disagreement amongst lawmakers over a proposal by the Nigeria Communications Commission (NCC) to expend the sum of N6.1…

On the Money – In Brief

- Pan-African cellular communications company Vodacom Group has sold its last 24.9% stake in South Africa-based WiMAX service provider Wireless Business Solutions (WBS), which operates under the iBurst brand name.…

Tanzania: Government Loses U.S.$308 Million in Airtel Deal

The government of Tanzania lost $308 million by selling Zain Tanzania to the India-based company Bharti Airtel last year, the Public Corporations Accounts Committee (POAC) said yesterday. The POAC chairman,…

Orange Group reports 4.0% drop in revenues to EUR10.2bn

International telecoms giant Orange Group has published its financial results for the three months ended 30 September 2013, reporting a 4.0% year-on-year drop in consolidated revenues to EUR10.162 billion (USD13.998…

On The Money - In Brief

- Indian telecommunications company, Essar Group, has announced joint investment plans in Africa with a Dubai based company. The group, which offers mobile services in Kenya under the "yu" brand…

On The Money - In Brief

- Zain has formally completed the payment of US$115 million to the government of Ghana to complete the part-privatisation of the country’s second operator Western Telesystems Limited (WESTEL). In a…

Safaricom IPO Nets a Whopping Sh191 Billion

The much-hyped Safaricom's initial public offer has raked in Sh191 billion in bids from local and international investors. The amount realised is way above the targeted Sh50 billion that the…

READERS' RESPONSES: ISSUE 272: ETC PUTS OFF PRIVATIZING BUT....

The story in issue 272 about Ethiopian incumbent ETC set off a toxic correspondence in ethiomedia.com. ETC Senior Engineer Ewnetu Tessema made a number of serious allegations against ETC CEO…

NIGERIAN TELECOM COMPANIES COURT RELUCTANT BANKS FOR INVESTMENT

The Association of Telecommunications Companies of Nigeria (ATCON) is seeking the cooperation of banks and other financial and funding institutions, both local and foreign, to fund telecommunications projects. ATCON consequently…

Nedbank SA invests in Bandwidth Barn

Nedbank Business Banking last week presented the Bandwidth Barn, an information and communications technology business incubator in the Western Cape, with a cheque for R500 000 at a function at…

Nigeria: Starcomms Moves to Acquire Telkom Multi-Links

Nigerian Code Multiple Division Access CDMA operator, Starcomms, is negotiating to close a deal that will enable it acquire the troubled Telkom Multi-links.ThisDay gathered that the deal was nearing completion…

Zimbabwe's TelOne Writes Off $80 Million in Customer Debts

Zimbabwean mobile network operator, TelOne has written off US$80 million of its customers bills in a one-off reduction being applied to their accounts.The company, which is state-owned will apply a…

Safaricom set to earn Sh8bn for managing security system

Telecoms operator Safaricom will earn a Sh2 billion annual fee for its management of the national security communication system, which the government has contracted it to build and operate for…

Celtel Zambia IPO to start next June

Local and international investors have an opportunity of buying into yet another mobile phone company, Celtel Zambia, barely two weeks after the close of the Safaricom IPO. On offer are…

N766M NITEL FUND TRAPPED IN FAILED BANKS, ALLEGES REPORT

NITEL has N766.44 million in three distressed banks, a cash position report on the company has shown. The report, which covered March 2003 to March 2004, showed that out of…

On The Money - In Brief

- Aqua Online’s distribution of 13c a share before delisting has become unconditional. The group announced last night that the JSE had approved its delisting which is to go ahead…

On the Money – In Brief

* Malawi’s third licensed mobile operator Global Advanced Integrated Networks (GAIN), which intends to provide services under the G-Mobile banner, has received an injunction against a USD6.9 million fine issued…

Money – In Brief

- The government of Uganda has announced it is taking control of Uganda Telecom Limited (UTL), a mobile telephone company, where Libya holds a 69% shareholding through its investment vehicle…

Telkom South Africa Secures Final Deal to Sell Nigerian CDMA Network

Telkom South Africa has finally secured an exit from its troubled Nigerian subsidiary and has announced the sale of Multi-Links to Helios Towers Nigeria for just US$10 million.Helios Towers had…

South Africa's MTN hopes for U.S.-Iran thaw to free its cash

Better U.S.-Iranian relations would be very welcome for South African mobile phone operator MTN Group as it has been unable to repatriate around $450 million from a unit in Iran…

South Africa: uAfrica.com secures growth funding

Local e-commerce group uAfrica.com has secured $1.5 million in funding, which it will use to expand quickly, bolstering its presence in Africa.uAfrica.com secured the funding from bidorbuy.co.za – which also…

Subscriber growth at Orascom Egypt leads to earnings rise

Orascom Telecom, the Egypt-based regional telecom operator, yesterday unveiled positive growth in the first quarter of 2008, with revenues rising 22% year-on-year to $1.295 billion. In the three months to…

ETHIOPIA'S ETC SEES PROFITS FALL BY USD4.9M IN 03/04

The annual profit anticipated by the state telecom monopoly, the Ethiopian Telecommunications Corporation (ETC) is down by 40.8 million Br (USD4.9m) for the years 2003/04, when compared to the previous…

ESKOM TAKES A R804 MILLION LOSS ON ITS FIBRE ROLL-OUT

While Eskom Enterprises has posted a R804-million loss due to its expenditure in 2003 on telecommunications roll-out, its march into Africa goes on a pace in 33 countries.Its losses arose…

CORRECTIONS

* ISSUE 197: TELECOM NEWS - IN BRIEF I thought you should know that there is a slight error in your report on TeleAccess in issue 197. Tele-Access was eliminated…

Ethio Telecom Seeking New Vendor Financiers for Expansion

Ethio Telecom, the country's sole telecommunications provider, is seeking a new round of financing as it ramps up expansion plans geared towards meeting the telecommunication sector development goals set out…

Bouygues favourite for Gabon fibre contract

Axione, part of France’s Bouygues Group, is the favourite to win an international tender for the management of a fibre-optic network in Gabon, the results of which will be announced…

Telkom may look at buying Cell C: Maseko

Bloomberg recently reported that Cell C is working with Goldman Sachs to explore the possibility of a sale.Citing sources familiar with the matter, Bloomberg said the possible sale would be…

Onatel’s planned IPO gets IFC support in Burkina Faso

The IFC, a division of the World Bank Group has announced that it will support the upgrade of fixed and mobile networks at Onatel, Burkina Faso’s telecommunications operator. The €7.5…

VODACOM/TELKOM AND VIRGIN MOBILE LINKED WITH POSSIBLE EQUITY INVESTMENTS IN NIGERIA

Pan-African mobile network operator Vodacom is said to be interested in re-launching a bid to enter the Nigerian mobile market - with help from its parent company, Telkom SA -…

SONATEL TURNS IN 30% TURNOVER INCREASE IN FIRST QUARTER 2004

With a turnover of FCFA 17 billion, Sonatel has had a 30% increase in its first quarter from FCFA 90.2 billion for the same quarter last year. If mobile telephony…

TELEKOM MALAYSIA PROTESTS, BUT OK’S LOAN FOR GHANA TELECOM

Telekom Malaysia Bhd. said last Tuesday that its appointed directors to Ghana Telecom approved under protest USD130 million of loans to Ghana Telecom after the company said it would face…

SOFTLINE DELISTING MAY BE UNFAIR TO INVESTORS, SAYS KPMG

KPMG Services, the independent advisor to Softline minority shareholders, says Softline’s delisting offer may be unfair to long-term investors, writes Iain Scott of ItWeb. Softline has issued a detailed notice…

Starcomms Boss says that CDMA Consolidation is vital for fair competition in Nigeria

Managing Director of Starcomms Plc, Maher Qubain has reasserted his position that consolidation in the Code Division Multiple Access (CDMA) segment of the telecommunications market and a fair playground for…

Vivendi Completes $5.8 Billion Sale of Maroc Telecom to Etisalat

France's Vivendi has completed the long running attempt to sell its 53% stake in Maroc Telecom to Etisalat.The final price came in at EUR4.14 billion -- which is compared to…

On The Money - In Brief

- Transcorp, the majority shareholder in Nitel, has denied reports that it will sell 41% out of its 51% stake in the wireline operator, but did admit that it was…

MAROC TELECOM IPO SET TO RAISE EUR800 MILLION

Maroc Telecom says that strong demand for shares in its initial public offering (IPO) held yesterday should raise around EUR800 million for state coffers. The government’s sale of a 15%…

On The Money - In Brief

- Winston Makamure, Managing Director of Tel-one has applied to the Reserve Bank of Zimbabwe (RBZ),for concessionary funds under the Public Sector Facility. He could not disclose the amount, which…

EGYPTIAN COMPANY FOR MOBILE SERVICES’ SHOWS NET INCOME GROWTH

Egyptian Company for Mobile Services ­ ECMS (EMOB.CA) released 2Q FY03 results ending June, in which net income recorded an impressive 153% growth to come in at LE178 million (inline…

On The Money - In Brief

- Market commentators are increasingly bullish on the MTN Group in the run-up to its year-end to March results being released next month. Investec fund manager Clyde Roussouw said on…

Nigeria: Starcomms Completes N12.2b Transaction With Swap Technologies

Starcomms has announced that it has successfully concluded a sale and leaseback agreement with Swap Technologies and Telecomms ("Swap") relating to 407 of its 557 Base Station Towers for a…

Trustco/Econet Fight Continues in Namibia

Trustco has filed an urgent interdict against Zimbabwe's Econet Wireless in a bid to prohibit Econet from infringing its intellectual property rights after the deal in which Trustco Mobile supplied…

LAP Green comments on FY12 results, keeps financial figures under wraps

LAP Green Network, a wholly owned subsidiary of the Libyan African Portfolio (LAP), has issued a press statement regarding its operational achievements in the twelve months ended 31 December 2012,…

Oger Puts Spanner in Telkom's Works in South Africa

Telkom's future direction is once again uncertain after the Saudi operator Oger Telecom disclosed that it had bid for a stake in the business. Oger Telecom's parent company Saudi Oger…

MALAYSIANS SUE GHANA GOVT OVER GHANA TELECOM AT THE HAGUE

A high-powered government delegation led by the Minister of Communications and Technology, Albert Kan Dapaah is in Kualar Lumpur, Malaysia to arrange a settlement with Telekom Malaysia in the protracted…

Zimbabwe Investor Buys Econet Shares At a Bargain

An investor bought 256 451 Econet shares worth US$1,3 million on Monday at a special bargain price of US480c -- representing a US10c premium.The parcel becomes the third Econet transaction…

Money News - In Brief

- Outremer Telecom could turn its back on a plan to invest MUR1.6 billion (USD56 million) in Mauritius, local paper l’Express cites the company’s general manager for Mauritius Michel Rigot,…

Djezzy sees 7% increase in sales in Q1 2012

The Algerian telco Djezzy, which is backed by the Russia-based telecoms group Vimpelcom, has reported a 7% rise in sales for the first three months of 2012 to DZD34.3 billion…

Bharti Airtel to acquire Warid Telecom Uganda

Bharti Airtel, the country's largest telco by revenue and customers, signed an agreement to buy rival Warid Telecom Uganda for an undisclosed sum on April 23, reinforcing its position as…

Telecom Firms Grossed Over US$305m Last Year in Uganda

Annual gross revenues of telecom operators in Uganda have gone up by 33 per cent, with main players Celtel and MTN posting the biggest increases. The third player Uganda Telecom…

On The Money - In Brief

- OSI’s delisting is set to go ahead next month after shareholders yesterday gave the company the go-ahead to make an offer to buy all its shares and leave the…

TeleMasters delisting the start of a trend in South Africa

This article was posted by Editor on Dec 2nd, 2010 and filed under News, Top. You can follow any responses to this entry using RSS 2.0. You can also leave…

Orascom posts Q1 net profit of EGP995m

Without providing comparative figures for the year-ago period, Orascom Telecom Media and Technology (OTMT) reported net profit of EGP994.7 million (USD164.3 million) and revenues of EGP235 million for the first…

Money - In Brief

- MTN Nigeria, the local unit of South African telecoms company MTN Group, is set to sign a USD3 billion medium-term loan facility with a consortium of unnamed banks. Local…

Maroc Telecom Q4 revenue jumps 30%

Maroc Telecom, Morocco's dominant telecoms company, reported a 30 percent gain in fourth-quarter revenue as promotions and special offers boosted growth at its mobile phone subsidiaries. Revenue in the three-month…

MOBINIL 1H PROFIT SLIPS, DESPITE STEADY REVENUE GROWTH; DELAYS 3G DECISION

The Egyptian Company for Mobile Services (ECMS), which offers services under the brand name MobiNil, has reported a 3% fall in net profit for the first half of 2006, down…

MTN Ghana in R2,9bn tower-sharing deal

Less than a month after winning a deal to buy Cell C’s national tower infrastructure, US company American Tower Corp (ATC) has signed another big African tower-sharing deal, this time…

Egypt Mobinil Q1 net profit down, misses most forecasts

Egyptian mobile firm Mobinil posted a 6 percent fall in net income for the first quarter of 2009 to 424 million Egyptian pounds ($75 million) last Wednesday, missing four out…

R22.5bn Vodacom deal signed in South Africa

UK cellular network operator Vodafone is due to sign the R22.5 billion deal to purchase an additional 15% of Vodacom from Telkom. According to a Telkom statement, Vodacom will be…

Proposed Talk-Time Tax to be changed in Ghana

Government said it was considering an ad valorem tax proposal by the telecom operators instead of a flat rate for the introduction of the air/talk time tax. Fred Opare-Ansah, Deputy…

VOXTELECOM BIDS FOR LEADERSHIP OF VOICE SOLUTIONS MARKET AFTER ACQUISITIONS

VoxTelecom, the specialist voice carrier of telecommunications group DataPro, will use two recent acquisitions to position itself as "a significant player in the booming voice service provision arena", says Managing…

SAFARICOM PROFIT GOES UP BY 64 PERCENT

Safaricom made a Sh8.4 billion profit before tax for the year ending March 31, compared with Sh5.13 billion the previous year. The growth was 64.62 per cent against that for…

On the Money – In Brief

- Qatar Telecom (Qtel),  has announced plans to sell shares to the public in the group's Tunisian unit in 2011 and its Iraqi division in two years time. Last month,…

Airtel Picks Up Rwandatel's Tower Assets

­Bharti Airtel's African arm is reported to have bought the tower network infrastructure owned by Rwanda's bankrupt Rwandatel.Bharti Airtel paid US$15.5 million for the towers, according to local media reports,…

Blue Label in acquisition talks with unnamed suitor

JSE-listed pre-paid airtime provider Blue Label Telecoms has revealed that it had received an acquisition offer from an unnamed company. According to a Stock Exchange News Service (SENS) announcement from…

South Africa’s Datatec Sheds 55 Percent Stake in Empowerment Group

Technology company Datatec has wound up a three-year-old partnership that was initially designed to boost its empowerment profile, by shedding its 55% stake in African Legend Indigo (ALI). The company…

Maroc Telecom’s nine-month results out; domestic competition heats up

Maroc Telecom’s domestic fixed line, wireless and internet operations in the first nine months of 2008 generated net revenues of MAD19.28 billion (USD2.24 billion), up 7.7% on the same period…

On The Money - In Brief

- Market speculation has it that UK telecommunications giant BT is in discussion to acquire JSE-listed GijimaAst. ITWeb revealed that it has received a detailed tip that the local company…

UGANDAN MINISTER WANTS PHONE TAX REVISED

Doctor Ham Mulira, the ICT minister, wants parliament to revisit taxes on mobile phone airtime and fixed lines. Telecom companies pay a 12% and 5% duty on mobile phone airtime…

SOUTH AFRICAN PINNACLE GETS WORKGROUP FOR R33M

Computer manufacturer Pinnacle Technology is spending R33,4m in a deal that will see it take over information technology distributor Workgroup. Workgroup is one of the divisions within Explix, which runs…

ARIVIA.KOM FINANCIAL RESULTS INDICATE INVESTMENT IN GROWTH

Leading SA IT solutions and services provider arivia.kom on Wednesday announced its financial results for its fourth year of being in business. Revenue declined by 7,8%, from R1,728bn in 2004,…

Vodacom Group revenues increase 3.9%; South Africa leads the charge

South Africa-based Vodacom Group has reported consolidated revenues of ZAR16.03 billion (USD2.24 billion) for the three months ended 31 December 2010. This figure represents an increase of 3.9% year-on-year. Vodacom’s…

MTN Gives Uganda Telecom 21 Days to Settle Outstanding Bills

­MTN Uganda has given the incumbent landline operator, Uganda Telecom 21 days to settle an outstanding invoice for Shs22 billion (US$8.8 million) otherwise it will seek to have the company…

7 African start-ups to receive Microsoft innovation grants

To fast-track their growth and provide a roadmap to highlight Africa’s ‘future growth pole’, Microsoft has revealed the 7 new African start-ups to receive funding, technical support and mentorship.According to…

Startel to Invests U.S.$55 Million in Telecommunication in Angola

It has taken five years to come to fruition but Mundo Startel’s telecoms service has finally been launched. The company said it expects to invest more than US$55 million to…

Western Union, Orascom ally to pilot mobile money transfers

The Western Union Company has created an alliance with Orascom Telecom Holding, one of the largest mobile operators in the Middle East, Africa and Asia. Orascom and Western Union plan…

GATEWAY TO ACQUIRE GS TELECOM IN $37.5M TRANSACTION

Gateway Communications, a leading provider of pan-African voice and data connectivity services, has agreed to acquire GS Telecom, provider of data connectivity services to corporate customers and telecommunications operators in…

SA IT TO OUTPACE GLOBAL GROWTH

South African IT budgets are expected to grow faster than their international counterparts this year, a Gartner conference has heard. Globally, IT budgets are expected to grow at 2.7% this…

MTN TO RAISE R8 BILLION IN BONDS FOR ACQUISITION

MTN is planning to raise part of the $5,5bn it needs to take over the pan-African and Middle Eastern cellular operator Investcom by selling bonds worth up to R8bn. It…

ZAMBIANS TO OWN SHARES IN CELTEL

Celtel Zambia has started the process of offloading ten percent of its shares to Zambian investors, Celtel Zambia managing director David Venn has disclosed. And Venn has announced that Celtel…

M-CEL RUNNING AT A PROFIT IN MOZAMBIQUE

Mozambique's publicly owned cell phone company M-Cel is now running at a healthy profit while its sole competitor, the South African owned Vodacom, is still making heavy losses. According to…

Uganda: Telecom Sector Dictating Inflation Trends, Says Ubos

The pattern of consumption in Uganda is increasingly being dictated by mobile phone usage, shifting emphasis away from food. As a result, the consumer price index was restructured to accommodate…

FNB’s digital strategy aims to disrupt industries

FNB’s virtual ISP will be boosting its free data packages to 5GB for qualifying banking customers from May 8, 2012 – a move that is seen by some as gimmicky…

InvestNow.NG online trading platform launched in Nigeria

An online trading platform that allows real time funding of investment accounts has been launched in Nigeria by UBA Capital.At the launch of InvestNow.ng held at the Nigerian Stock Exchange…

OLX acquires its biggest rival in Nigeria

VENTURES AFRICA – OLX, one of Africa’s largest classifieds, has acquired Tradestable, its biggest rival in Nigeria. The move not only gives OLX, a relatively new entrant into Africa’s biggest…

AMD closes South African Office

AMD has chosen to close its South African branch less than two years after the company established a corporate presence within the region. AMD has chosen to revert to the…

Nigerian Communications Commission gives multi-million Naira contract to Galaxy Backbone

The Nigerian Communications Commission (NCC) has given a multi-million naira Internet project to be installed at the Federal Secretariat in Abuja to Galaxy Backbone Plc to manage and sustain the…

Access Kenya Profit Up 62 Percent

Technology firm Access Kenya has posted a 62 per cent rise in profit before tax for the first half-year of 2008.The company recorded Sh104 million in the period compared to…

CALL CENTRE BOOM IS SET TO CONTINUE IN SOUTH AFRICA

CapeTown's call centre and business process outsourcing industry has grown by 30% a year for the past three years and can probably sustain that momentum as more foreign firms award…

On The Money - In Brief

- The Chairman of the National Investment Commission (NIC), Richard Tolbert, has challenged Liberian business entrepreneurs to forge partnership with multilateral financial institutions in the United States and Africa, especially…

On The Money - In Brief

- Telkom South Africa has cleared the second hurdle in its bid to take over Business Connexion, with 99,59% of shareholders voting in favour of its R2,4bn acquisition. Telkom bought…

SOUTH AFRICA MTN SAYS TO AGREES US$2 BLN IRAN DEAL

African cell phone operator MTN has agreed to take a stake in a $2 billion project to run Iran's second mobile firm which would give it a long-awaited foothold in…

On The Money - In Brief

- Celtel Uganda is seeking a court order to recover UGS2.9 billion (USD1.67 million) in interconnection fees, plus damages and 28% interest it claims is owed to it by Uganda…

SA’S MTN CURTAILS MYSTERY NEGOTIATIONS OVER FOREIGN ASSETS

Cellphone company MTN has curtailed negotiations involving some of its foreign assets, without the market ever working out exactly what deal may have been going down. The company withdrew a…

BUONGIORNO BUYS SOUTH AFRICA’S ITOUCH FOR €141M

South African-born technology company iTouch is being bought out for €141m by Italian digital entertainment specialist Buongiorno. iTouch was formed in Cape Town in 1995 and started out by developing…

South Africa: Vox mimics Stuff for annual report

Vox Telecom, listed on the JSE’s AltX exchange, is becoming well known for its inventive annual reports, which each year resemble a popular magazine. The 2010 annual report, released this…

Nigeria: CBN payment system meets glitches

The money market segment of the financial system was thrown into confusion as technical hitches in the Central Bank of Nigeria’s (CBN’s) payment system – the Real Time Gross Settlement…

Alcazar no longer a shareholder in Telkom Kenya after low-key FT-Orange deal

France Telecom-Orange (FT-Orange) has belatedly confirmed that it has acquired the 11% stake in Telkom Kenya (Orange) held by Dubai-based private equity firm Alcazar Capital. Business Daily Africa reports that…

MTN eyes $1bn windfall from Iranian nuclear deal

South Africa-based telecommunications company, MTN Group, has said it will be able to transfer about $1 billion in accumulated dividends and a loan repayment from its Iranian unit if the…

On The Money - In Brief

- Telkom South Africa has won legal permission to award a tender to Ericsson after a High Court judge threw out an application to have the deal halted by a…

On The Money - In Brief

- The UK telco BT has announced plans to sell off a 30% stake in its South African operations to comply with Black Economic Empowerment (BEE) legislation. The stake is…

Nitel: Amid search for new core investors, FG to give stakes to IIL

The Federal Government plans to transfer stakes in the national incumbent, NITEL to Investors International Limited (IIL), the London-based consortium that had in 2001 made a botched $1.317 billion bid…

ACCESS KENYA SHARE OFFER ENDS

Internet service provider AccessKenya has announced successful completion of its initial public offering (IPO), which it says was significantly oversubscribed. The firm said it would announce the exact amount of…

GOVERNMENT HANDS OVER RWANDATEL TO TERRACOM

The Rwandan government on October 14th 2005, officially signed the transfer of her 99% Rwandatel shares to TERRACOM, an American based IT and communications provider that bought the former state-owned…

ECONET MAKES A HARD SELL AS IT RAISES LOCAL FUNDS FOR KENYA OP

In a swift move aimed at winning buy-in from Kenya’s 2.5 million strong membership potential, Econet Wireless Kenya (EWK) last Thursday took advantage of a co-operative leaders forum in Nairobi…

On The Money - In Brief

- Egyptian shares fell on Wednesday last week when the telecom sector retreated amid profit-taking following recent strong gains and as anticipation of an Iraq war weighed on investor sentiment,…

UGANDA’S MPS ALLOW GOVERNMENT TO GET SH48B LOAN FOR CHINESE BACKBONE PROJECT

Parliament has allowed the Government to borrow $30m (about sh48b) from China to improve the communication sector. The money, to be borrowed from the Export and Import Bank of China,…

Money – In Brief

The initial IPO of incumbent telco Tunisie Télécom has been suspended, pending a final decision to be taken within days with the strategic partner, Secretary of State in charge of…

Money News - In Brief

- All Corporate Directors and CEO’s of Airtel operations in Africa and South-East Asia forwent their salary increase for the period March 31, 2011 to March 31, 2012 to save…

Orange and MFS Africa extend the remittance service Orange Money Transfert International to Orange Money users in Mali.

Orange and MFS Africa today announced the addition of Mali to the growing portfolio of countries able to receive international remittances via Orange Money Transfer International (OMTI). Orange Money customers…

MTN Expects 1st Half Earnings Up As Much As 14.5%

MTN Group, Africa's largest mobile phone network operator, last Wednesday said its earnings rose as much as 14.5% in the first half of the year. The company said attributable earnings…

MAROC TELECOM ACHIEVES USD 739MN CONSOLIDATED TURNOVER AS OF JANUARY 07

Moroccan telephony operator, Maroc Telecom, achieved a consolidated turnover of USD 739.1Mn as of January 2007, i.e. a 15.9% increase. The increase touched the consolidated operational result, which rose, up…

AFRICA ONLINE SEEKS TO REASSURE CUSTOMERS OVER TAKEOVER DEAL

Following press coverage of the contested deal for its takeover, Africa Online issued a press release in Nairobi that sought to reassure its customers that their services would not be…

WILL MTN SPEND ITS SPARE US$2,6BN ALL IN ONE PLACE?

A report from Merrill Lynch saying that MTN could muster about $2,6bn to invest in growth opportunities is quite staggering. But what is even more staggering is exactly how much…

On The Money - In Brief

- Orascom Telecom Holding released 9M FY03 results ending September, in which net income jumped significantly to LE554.1 million compared to a net loss of LE96.2 million recorded in the…

IN BRIEF:

- The Kenyan government has begun the process of selling a 25% stake in the country’s largest cellular operator, Safaricom. Authorities are seeking an adviser to handle the initial public…

TNM warns of drop in profits

Telekom Networks Malawi (TNM), the country’s second largest mobile operator by subscribers, has said that profit after tax for the six months ended 30 June 2012 is expected to be…

Interswitch introduces additional payment security

Interswitch, a Nigerian integrated payment and transaction processing company, has introduced Safetoken, which triggers One-Time-Passwords (OTP) when customers are performing payment transactions on the internet using their cards. The system…

ICT sector is boosting Tunisia’s economy

Results scored by the information and communication technologies sector in the first half of 2008 revealed a great dynamics at both quantitative and qualitative levels, as part of the implementation…

On The Money - In Brief

- Mobile Telecommunications Group (MTC) said Monday that it has become the holder of 100 percent of the outstanding shares of Celtel International B.V. following the final payment of $467…

SINGTEL PUTS AFRICA IN ITS SIGHTS

Singapore Telecommunications Ltd. is looking for investments outside of its traditional Asian-Pacific comfort zone, with Africa, the Middle East and Central Asia on its radar screen. “We’ve got to be…

On The Money - In Brief

- Shares in South African investment firm Venfin shot up by more than two percentage points on the back of rumours that the company was planning to sell its 15%…

Telecom Namibia gets BBB credit rating from Fitch

Fitch Ratings yesterday gave Telecom Namibia the credit thumbs-up, affirming its long-term local currency issuer default rating (IDR) at 'BBB-' and national long-term rating at 'A(zaf)', with both ratings getting…

Use of biometric cards for bank transactions to delay - BoG

The use of the biometric cards for bank transactions in Ghana would delay a while as the Bank of Ghana is now working with its South African partners to develop…

Money - In Brief

- The second phase of the e-Soko application in Rwanda is set to kick off next month and it will see the government taking full control of the system. Currently,…

On The Money - In Brief

- Vodafone Egypt has acquired Sarmady Communications ("Sarcom") - the Cairo-based digital media specialist and one of the fastest growing online businesses in the Region. This deal accelerates the advancement…

Kenya: Econet finally pays remaining licence fee after finding new local investors

Econet Wireless Kenya looks finally to be going ahead with its Kenya licence after paying the remaining portion of its licence fee and finding new local investors to take a…

JSE WOOS ICT FIRMS IN SOUTH AFRICA

South Africa's bourse, the JSE, is going all out this year to attract “sexy” ICT companies to its boards. Noah Greenhill, GM of marketing and business development at the JSE,…

READERS' RESPONSES

Issue 275: Bottom-of-the pyramid markets - the sub-USD100 laptop and the search for the holy grail Never trust a man who invents Swatch Internet Time. Negroponte is a notorious bandwagon…

MOBINIL 1H PROFIT SLIPS, DESPITE STEADY REVENUE GROWTH; DELAYS 3G DECISION

The Egyptian Company for Mobile Services (ECMS), which offers services under the brand name MobiNil, has reported a 3% fall in net profit for the first half of 2006, down…

Poor Sales in Tanzania Push East African Cables Into Half-Year Loss

East African Cables (EAC) posted a loss in the six months to June due to poor performance of its Tanzanian unit.The cable maker announced a loss of Sh56.9 million in…

Telkom shares slump, reports a loss

Shares in telecommunications group Telkom slumped R1.60 (Less than US $1) or 4.82% to R31.60 (about US $4.1) on the JSE (Johannesburg Stock Exchange) today after the group announced losses…

Money News - In Brief

- The Libyan Investment Authority is trying to recover its stakes in sub-Saharan telecom operators, Jeune Afrique reports. LIA subsidiary LAP Green Networks (LGN) held stakes in nine African poperators…

Women bank on cheaper phones for easy payments

Cheap phones have accelerated mobile money service penetration among women in Kenya and helped them to make a major step into financial inclusion.A study by Bankable Frontier Associates (BFA), a…

Government Suspends Sale of Shares in Ghana Telecom

The Ghanaian Government seems cursed when it comes to the sale of its telecoms assets. The Head of Corporate Communication and Customer Care of Ghana Telecom, Major Albert B. Don-Chebe,…

Maroc Telecom has 22.3% increase in operational turnover in Q3, 2007

The Maroc Telecom group had a consolidated turnover of MD6.1 million, a growth of 15.9% and an operational profit of MD2.8 million, a growth of 22.3% as a result of…

TELKOM BUYS AFRICA ONLINE – WARRING BUYERS AGREE

The African Lakes Corporation Limited and Africa Telecoms Company Limited announced that they have reached agreement with Telkom SA, clearing the way for the sale of Africa Online. In particular,…

MPS QUERY PAYMENTS TO MEERA, UTL IN UGANDA

Members of Parliament (MPs) want the finance ministry to halt payment of sh337.2m to Meera Investments and uganda telecom (utl) until investigations are done. This was after legislators on the…

South Africa: Telecoms Growth Slowing as Voice Market Matures

Investors in the telecommunications sector should exercise caution, according to a report by investment management firm Allan Gray that suggests the industry's operating profit pool peaked in 2006 in real…

VOXTELECOM BIDS FOR LEADERSHIP OF VOICE SOLUTIONS MARKET AFTER ACQUISITIONS

VoxTelecom, the specialist voice carrier of telecommunications group DataPro, will use two recent acquisitions to position itself as "a significant player in the booming voice service provision arena", says Managing…

Nairobi Stock Exchange Caught in Crossfire of Telecoms Price Wars

Market capitalisation of the Nairobi Stock Exchange dipped last week on account of a decline in the Safaricom share price occasioned by the stiff competition in the telecoms sector.The bourse…

Sonatel sees fall in net profits in 2010 as competitors muscle in

Senegalese incumbent telecoms operator Sonatel said its net profits for FY2010 were hit as increased competition in the markets in which it operates trimmed its margins and it was hit…

Nigeria: ICT companies urged to list on stock market

Nigeria’s Communications and Technology Minister Omobola Johnson has again called on information, communications and technology firms in the country to list on the Stock Market in an effort to boost…

Econet launches virtual debit card

EcoCash Debit CardZimbabwe’s largest mobile phone company, Econet Wireless, has unveiled an innovative functionality on its mobile money service EcoCash which allows a cell phone to also operate as a…

Telkom Kenya to go under the hammer

France Telecom has put Telkom Kenya on sale, becoming the second mobile phone operator to exit the market this year.yuMobile is also up for sale.The French conglomerate that owns majority…

AccessKenya Group Breaks K Shs 1 billion revenue target one year early; profit rises over 300% to K Shs 150 million

AccessKenya Group, Kenya’s only publicly listed ICT company, last week announced its results for the year ending December, 2007, breaking the K Shs 1 billion barrier one year early and…

Tunisia’s BTS finances Ayaris Call Centre

Banque Tunisienne de Solidarité (BTS) has taken the unusual step of financing one of Tunisia’s newest call centres, Ayaris Call Centre. Speaking in a recent interview, Ayaris’ D-G Elyes Ayari…

MTC ANNOUNCES A RECORD NET INCOME OF USD 1.051 BILLION FOR YEAR ENDED DECEMBER 31, 2006

As of December 31 2006, MTC Group was operating on 2 continents and was serving 27.037 million active customers – an increase of 98% compared to the same period last…

MAURITIUS TELECOM SELLS SHARES TO EMPLOYEES

The Mauritius Telecom company, is to sell 1.9 million shares to its 2,000 employees, from late January, at 50 US cents a share, representing 1% of the State-owned equity in…

Telecommunications sector contributes 20 % to Tanzania’s GDP

The booming telecommunication sector contributes about 20 per cent to the country’s gross domestic product (GDP), the National Assembly was told in Dodoma. Communications, Science and Technology deputy minister Dr…

UGANDAN MINISTER WANTS PHONE TAX REVISED

Doctor Ham Mulira, the ICT minister, wants parliament to revisit taxes on mobile phone airtime and fixed lines. Telecom companies pay a 12% and 5% duty on mobile phone airtime…

Nairobi Stock Exchange Caught in Crossfire of Telecoms Price Wars

Market capitalisation of the Nairobi Stock Exchange dipped last week on account of a decline in the Safaricom share price occasioned by the stiff competition in the telecoms sector.The bourse…

Kenyan mobile operators call for a clearing house for mobile payment transfers

Kenya's smaller mobile networks want the country's Central Bank to set up a centralised clearing house for mobile payment transfers - in a deliberate attempt to reduce the dominance of…

Money News - In Brief

- Zain's Sudan subsidiary has awarded a mobile advertising contract to Jinny Software.- Sierra Leone’s parliament has approved a concessional loan agreement between the government and the Export-Import Bank of…

Venture Capital for Africa: crowdsourcing a startup movement across Africa

10.000 entrepreneurs and investors collaborate to fill early stage investment gapOnline community VC4Africa (Venture Capital for Africa), connecting promising entrepreneurs in Africa with investors and startup resources, continues to gain…

88mph, L5Lab launch joint venture fund ’440′ for Nigerian tech startups

In an attempt to further boost the West African tech scene, seed fund and accelerator 88mph has recently announced the launch of its latest joint venture startup fund in Lagos,…

MTN South Africa Shelves Discount Share Scheme

MTN's huge black empowerment plan to spread its shares among ordinary citizens has been shelved as most people are too cash-strapped to buy into the business. The cellular network hopes…

South African Sentech Receives R500m Boost

South Africa is the only country on the continent where the Government has made investments in three entirely separate companies in the telecoms sector: Infraco, Sentech and Telkom. State-owned signal…

QMobile Europe says it will launch 4 CDMA operations in Africa but needs further investment

QMobile Europe’s CEO André Vorster says that he has plans to launch CDMA operations in four unnamed African countries and that he has been able to overcome the traditional barrier…

VODAFONE STAKE IN SAFARICOM IS INDIRECT

The complex web of Vodafone's involvement with Safaricom in Kenya has been revealed by a UK newspaper. The foreign firm's involvement in Safaricom is indirect through the shell company Mobitelea…

On The Money - In Brief

- The Public Procurement Complaints Review and Appeals Board in Kenya dismissed a complaint lodged by Muringa Holdings against the awarding of a tender for the sale of the Gilgil…

Zambia’s opposition: We will renationalise Zamtel

Zambia will witness national elections in 2011. Main opposition party-leader Michael Sata, who leads the country’s Patriotic Party, says he will reverse the privatisation of Zamtel, because he does not…

SA IT TO OUTPACE GLOBAL GROWTH

South African IT budgets are expected to grow faster than their international counterparts this year, a Gartner conference has heard. Globally, IT budgets are expected to grow at 2.7% this…

Cell C Rejigs Debt With R2,2 Billion From China

South Africa’s third and smallest network operator has been burdened by interest-bearing euro-denominated debts that drain its cash each month, contributing to its failure to make a net profit.The agreement…

Nigeria: Nitel's Debts Hit N208 Billion

House of Representative Committee on Communications yesterday recommended the immediate disengagement of the entire 3,389 staff of the nation's moribund Nigeria Telecommunications and its mobile subsidiary, M-Tel.It also suggested the…

Telecom Namibia Aborts Investments in South Africa and Angola

TelecomNamibia has not seen any returns from two multimillion-dollar investments that it made in South Africa and Angola. The company made the investments totalling N$544 million close to six years…

Money News – In Brief

- Tanzania's Vodacom has linked up its M-Pesa service to the Diamond Trust Bank to allow mobile banking cash withdrawals from the banks ATMs.

2.3GHz: Bitflux Pays NCC $23.25m After Deadline

Bitflux Communications, the preferred winner of the 30MHz slot in the recently concluded 2.3GHz spectrum auction conducted by the Nigerian Communications Commission (NCC) on February 19, 2014 at Transcorp Hilton,…

Monitise Gets Mobile Banking Grant to Expand in East Africa

UK based Mobile Banking provider, Monitise says that it has been awarded US$1.5 million by the Africa Enterprise Challenge Fund (AECF) to help fund the launch of its mobile banking…

Safaricom Sale Date Awaits New Privatisation Chief in Kenya

The release of a timetable for the sale of a part of Safaricom is awaiting the appointment of a new chair to the privatisation commission, Treasury officials said. Plans to…

On The Money - In Brief

- South Africa’s Altech announced half year results for the period ended 31 August 2007. Revenue increased by 20% to R4 billion, the company’s operating profit increased by 6% to…

ECONET EYES CONTROLLING STAKE IN TELECOM LESOTHO

Econet Wireless Holdings is expected to exercise its rights to buy a controlling stake in Telecom Lesotho, the sole fixed-line operator in the tiny mountain kingdom completely surrounded by South…

Mauritius Telecom to raise USD50m from telecom listing

In his budget speech delivered yesterday, the Mauritian Finance Minister Ramakrishna Sithanen said the government hopes to raise MUR1.5 billion (USD50 million) from the listing of the nation’s largest telco,…

Millicom Sells 750 Towers in Ghana

Millicom Ghana (trading as Tigo) has agreed to sell approximately 750 towers to Helios Towers Ghana, a direct subsidiary of Helios Towers Africa. As a result of the transaction, Tigo…

Money News - In Brief

- The Chairman of the National Investment Commission (NIC), Richard Tolbert, has challenged Liberian business entrepreneurs to forge partnership with multilateral financial institutions in the United States and Africa, especially…

On the Money – In Brief

* Nigerian CDMA operator Starcomms has reported a pre-tax loss of NGN2.94 billion (USD19.1 million) for the first half of 2010, news agency Reuters reports. The figure represents a fall…

Zimbabwe: Telecel Under Fire Over Shareholder Structure

Telecel Zimbabwe has come under fire for being slow in regularising its shareholding structure, which is heavily skewed in favour of foreigners.The Parliamentary Portfolio Committee on Media, Information and Communication…

8ta drags down Telkom South Africa’s earnings

Telkom's mobile arm, 8ta, has made an operating loss of R1.1 billion, which weighed on the telco's earnings for the year to March.Telkom launched its mobile arm last October, attracting…

Uganda: MTN and Vodacom weigh-in for Orange takeover

South African telecoms groups Vodacom and MTN have indicated their interest in a potential acquisition of Orange Uganda, should the cellco’s French parent go ahead with rumoured plans to exit…

K3bn for telecoms and finance sectors in Malawi

A World Bank financing group, the International Finance Corporation (IFC), has earmarked some US$20 million (K2.8 billion) for the improvement of Malawi’s telecommunication and financial sectors. The IFC vice president…

On The Money - In Brief

- South Africa’s Blue Label Telecoms announced promising results since the company got listed at the stock exchange. Blue Label activities are based on electronic transactions and began with the…

THE COURT STOPS SALE OF TELKOM SUBSIDIARY IN KENYA

The intended privatisation of Gilgil Telecommunications Industries has been stopped by the High Court. One of the losing bidders, Muringa HoldingsLtd got the temporary orders stopping the execution of the…

AIG AFRICAN INFRASTRUCTURE FUND RECEIVED USD214M FROM CELTEL SALE

AIG African Infrastructure Fund received US$214 million in the recent sale of Celtel International to the Kuwait mobile operator, Mobile Telecommunications Company. EMP Global LLC said last week the sale…

Telkom South Africa Fears Dive of 140 Percent in Earnings

Telkom South Africa , Africa's largest fixed- line phone company said last week it expected its headline earnings per share for the six months to September to fall as much…

On The Money - In Brief

- Gulf African Bank, Kenya's first fully Shar'iah-compliant bank, has partnered with Safaricom for agent-to-agent transactions. This means M-Pesa agents now have a wider access and delivery channel through the…

Money News – In Brief

- Western Union's mobile money transfer service will be introduced in 18 countries where mobile telecommunications firm Etisalat operates following an agreement between the two companies. The agreement will enable…

Africa: Insurers to Partner with GSM Operators to Deepen Penetration

African insurance operators have resolved to partner with distribution enablers like mobile phone operators as part of efforts to increase the level of insurance penetration in the continent.This formed part…

Uganda: MTN Opposed to Selling Some Shares to Public

MTN is opposed to President Museveni's idea of telecoms selling some of their shares to Ugandans through the domestic stock market, according to Sifiso Dabengwa, the group's president and CEO."You…

Econet’s Liquid Telecom now worth half a billion?

On January 12 Last week Altech announced the offloading of an 8.6% stake in  Liquid Telecom Holdings to Econet Wireless for a reported $55 million. While this move has further…

MTN, Orange Cameroon hit with XAF75bn licence renewal fee?

Cameroon’s two largest mobile operators MTN and Orange Cameroon are said to be in talks with the government to reduce the fee for the renewal of their operating licences, reports…

Pinnacle expects mixed results in South Africa

JSE-listed Pinnacle Micro's trading statement this week shows the company expects to crack just over R1 billion in turnover in its interim results. The projection for the interims (six months…

UGANDA GOVERNMENT IS NOT SELLING ITS UTL SHARES

The Government is not selling its shares in uganda telecom (utl), a statement from the information and communications technology (ICT) ministry has revealed. "We wish to clarify that Ucom, a…

NIGERIA’S RELTEL IN THE EYE OF INDIAN INTEREST

Nigeria-based fixed wireless operator Reltel has said that an Indian firm is interested in acquiring a majority stake in the operator at a cost of US$55mn. Although Reltel executive vice…

UBA Backs Lonestar's U.S. $10 Million Network Expansion Programme in Liberia

The United Bank for Africa (UBA) Liberia Limited has signed a$10 million financing deal with Liberia 's leading telecom company, Lonestar Limited, a company majority owned (51 per cent) by…

Significant results for Trustco in Namibia

The Trustco Group Holdings Ltd, which was the first company to list on the Africa Board of the Johannesburg Stock Exchange (JSE) in February 2009, has again delivered a strong…

Telkom South Africa looks to Africa again

Telkom is still keen to expand its operations elsewhere on the African continent despite the sensational failure of Multi-Links, its Nigerian business, says chairman Lazarus Zim.He was speaking at the…

outh Africa: First National Bank Expands Ewallet's Functionality

First National Bank (FNB) is to enhance its eWallet solution, which enables employers to pay salaries directly to their employees' mobile phones, by introducing features that enable users to pay…

Nigeria’s Adlevo Capital invests in Solo

Adlevo Capital Managers, a private equity fund manager focused on investments into technology-enabled businesses in sub-Saharan Africa, and Kuramo Capital Management, a sub-Saharan Africa multi-asset class investment manager, completed a…

Selling Telecel won’t sail smooth. Mutasa opposes it. Shareholding one big mess

The news about Brainworks offering to buy 40% of Telecel Zimbabwe was much welcome news. The market needs a thriving Telecel, so this glimmer of hope in something potentially ending…

On The Money - In Brief

- According to the local newspaper, Daily Trust, the House of Representatives in Nigeria went through a second read of a bill that would require GSM Telecommunications services providers to…

EARNINGS FALL AT BUSINESS CONNEXION IN SOUTH AFRICA

Telkom's potential acquisition of Business Connexion is just one of three events that weighed on the technology group's financial performance for the six months to November. Disappointing results show its…

DIMENSION DATA BUYS 51% OF ICL EAST AFRICA

Dimension Data has bought 51% of ICL East Africa, an information technology company active in Kenya, Tanzania and Uganda. The deal is being used by Didata to set up offices…

SOUTH AFRICA'S TELKOM SEES SLOWER H2 PROFIT GROWTH

South Africa's fixed-line phone company Telkom expects its full-year earnings to grow at a slightly slower pace than in the first half as the impact of tariff cuts bites, its…

Zain expands One network in Egypt but Africa weighs on profits

Middle East and African operator Zain said Wednesday that it is expanding its pioneering One Network to Egypt via a strategic partnership with Mobinil. The deal means over 27 million…

On the Money – In Brief

- Internet Solutions (IS) has acquired a majority stake in Synaq, the Johannesburg-based managed Linux service provider and messaging company, for an undisclosed sum.- Teraco Data Environments has received a…

Coming to Nigeria is our biggest move in W-Africa, says Huawei boss

In this interview with Vanguard Hi-Tech, the Managing Director, Terminal, West Africa of Huawei Technologies Co. Nigeria Limited unfolded the company’s plans for the market.Q: How long have you been…

Digicel eyes stake in Lap Green – Rumour denied

A rumour went round this week that Digicel in consortium with other investors was going to buy Lap Green Networks. The rumour was later denied by the Libyan investment agency…

MTN Stock Falls as CFO Resigns Amid Company Investigation

MTN Group Ltd. (MTN), Africaís largest wireless operator, fell to the lowest level in almost four weeks after Chief Financial Officer Nazir Patel quit, citing undisclosed allegations against him.MTN dropped…

Nigeria: Capcom merger thrown into doubt by regulator’s warning

The merger of Nigeria's CDMA networks could be thrown into doubt after the telecoms regulator expressed concerns at how long the process is taking, and said that it might revoke…

Egyptian Orascom reports weak first half on back of currency devaluation

Egyptian telecoms group Orascom Telecom has released its financial results for the six months ended 30 June 2009, posting a 6.5% decline in consolidated group revenue to USD2.48 billion, down…

On The Money - In Brief

- Time has now been called on potential investors to subscribe to shares in Transnational Corporation (Transcorp), which owns 75% of Nigeria’s incumbent telco NITEL and its mobile subsidiary M-Tel.…

LIBYAN COMPANY BUYS UTL IN UGANDA

Libya Africa Portfolio's (LAP) Green Com has acquired majority shares in Uganda Telecom (utl). Sources revealed that the company, the investment arm of the Libyan government, acquired 51% shareholding in…

NIGERIAN CHAMS SEEKS FUNDS FOR TERMINALS DEPLOYMENT

Chams Nigeria Limited, a pioneer operator in the smartcard segment of the Nigerian IT industry, is offering a private placement subscription of 100,000,000 units of shares of N1.00 each at…

KUWAIT'S MTC BUYS REST OF SUDAN'S MOBITEL

Kuwait's Mobile Telecommunications Co. (MTC) said it bought control of leading Sudanese mobile operator Mobitel from Sudan Telecom (Sudatel) for $1.33 billion. MTC said the deal with in line with…

EGYPT’S ORASCOM TELECOM FINALISES SALE OF SUB-SAHARAN COMPANIES

Egypt’s Orascom Telecom has finalised the sale of seven sub-Saharan GSM companies in its Telecel International Limited (TIL) unit as part of its ongoing restructuring and focus on core assets.…

On The Money - In Brief

- Libyan investment company LAP Green has signed a USD300 million loan agreement with the Industrial and Commercial Bank of China to allow it to fund capital expenditure in its…

Money News - In Brief

- US authorities are investigating allegations that executives working for software group Oracle paid African officials in violation of anti-bribery laws. Agents at the Federal Bureau of Investigation (FBI) and…

Nigerian tower firm eyes East Africa

Safaricom and Telkom Kenya’s infrastructure sharing plan could get a boost following an announcement by Nigerian telecommunication towers company IHS that it is seeking Sh18 billion ($200 million) to finance…

More Equity Funding for Mobile Transactions Zambia

Omidyar Network and Accion International have invested USD3.2m in Mobile Transactions International, a Zambia-incorporated company that leverages mobile technology and an agent network to enable financial transactions across the Zambian…

Vimpelcom sells 2 African operators for EUR 75 mln

Luxembourg-based Niel Telecom has agreed to buy Russian telecom group Vimpelcom's Burundi mobile subsidiary Leo and Telecel Central Africa for EUR 75 million, subject to closing conditions, people familiar with…

Burkina Faso to impose new tax on telecoms revenues

A new tax on telecoms companies operating in Burkina Faso has been introduced by the country’s Finance Act 2014, in a move that is expected to generate around XOF12 billion…

South Africa: MTN posts 30% jump in profit as sales rise

MTN Group reports net income rose to 7.63 billion rand during the six months through June, from 6.24 billion rand a year earlier. MTN says group subscriber numbers were up…

O3B gets financial support from Google and HSBC

Finance Minister Trevor Manuel welcomed a landmark initiative by internet giant Google and Europe's biggest bank HSBC to support a plan to provide cheap, high-speed web access via satellite to…

MAROC TÉLÉCOM PROFIT CLIMBS 16% ON MOBILE PERFORMANCE

Moroccan incumbent fixed line operator Maroc Télécom has reported a 16% rise in 2006 net income to EUR607 million (USD800 million), compared to EUR523 million in 2005, with the improvement…

CELTEL TO INVEST US700M IN NIGERIA

Celtel, which acquired 65% of V-Mobile in June for just more than US1bn, is investing at least US700m in the next two years to expand its V-Mobile network, reports website…

GHANA TELECOM’S US$40M BOND ISSUE QUERIED

Information reaching the Business Chronicle indicates that the Securities and Exchange Commission (SEC) is not happy with the way Ghana Telecom (GT), led by Databank, raised an amount of US$40…

On The Money - In Brief

- South African state-owned transport utility Transnet said on Tuesday it had begun selling a 5 percent stake in cellphone operator MTN through a book building exercise. Transnet has held…

CELSYS ON THE PROWL FOR NEW ACQUISITIONS

Zimbabwean mobile retail operator, Celsys Limited, has confirmed market speculation that it was considering a number of potential acquisitions as part of a programme to diversify its rapidly expanding business.…

2002 RESULTS FOR MAROC TELECOM ENCOURAGING VIVENDI TO BUY CONTROL

According to Liquid Africa, Maroc Telecom has posted bullish results for 2002. Its sales were DH14,751bn, up 9% on the previous year and its net results were DH3.7bn, up 405%…

VimpelCom CEO: Algeria Has "Firm" Intention To Nationalize Djezzy

VimpelCom Ltd.'s (VIP) Chief Executive Alexander Izosimov said Thursday the authorities in Algiers are moving in a "firm direction" toward nationalizing the Algerian unit of Orascom Telecom HoldingOrascom Telecom Holding…

Money News – In Brief

- Somalia based NationLink has launched a mobile wallet service, powered by Comviva.- Telkom Kenya is the latest mobile telephony firm to tap into the multi-billion electronic commerce industry after…

UniBank, Airtel money collaborate with Star Micro

In a statement issued in Accra on Tuesday, it was revealed that UniBank Ghana Limited has collaborated with Airtel Money and Star Micro Insurance.The aim is to offer life insurance…

Apple buys Nigerian entrepreneurís HopStop

Technology giant Apple has acquired HopStop.com, the startup venture established by Nigerian entrepreneur Chinedu Echeruo, for an undisclosed amount. HopStop is a mobile application that provides an online city transit…

Korea Telecom will review its Africa expansion effort – New CEO wants to focus more on its domestic business

KT plans to review its business projects in Africa as its new CEO Hwang Chang-gyu wants to focus on bolstering the firm’s competitive edge in the domestic telecommunication business, said…

Nigeria’s CcHUB launches USD 500k investment fund

Lagos based incubator the Co-Creation Hub (CcHub), part of VC4Africa’s partnership network, has launched a USD 500,000 seed investment fund to boost its incubation program and support early stage startups…

Konga.com has acquired Zinternet Nigeria Limited for its mobile payments license

Konga Online Shopping Limited (Konga) today finalized its acquisition of Zinternet Nigeria Limited (Zinternet). The transaction was finalized upon consent from the Central Bank of Nigeria with Konga now owning…

Safaricom AGM targets consolidation

Kenyan listed giant mobile communications company Safaricom held it debut annual general meeting (AGM) last week, resolving to consolidate its shares. The 800,000-plus shareholder company will be looking into the…

TEAMS share allotments to be reviewed by the Kenyan Privatisation Commission

The newly established Privatisation Commission has thrown a spanner in the works on allotment of shares to 12 private firms in the entity TEAMS Ltd -- the state-funded multi-billion fibre…

COMPUTER GROUP MUSTEK'S SALES DROP IN A GROWING MARKET

Computer company Mustek has probably suffered a slight loss of market share as well as a dip in profit in the past six months of trading. Mustek manufactures SA's best-selling…

MTN FIGURES SHOW VERY FEW HICCUPS DESPITE ERRATIC LOCAL PERFORMANCE

MTN has bounced back from a temporary dip in South African subscriber numbers to claim a pan-African customer base of 24,4-million, generating a net profit of R5,39bn in the six…

SAP LOWERS BAR TO BOOST REVENUE

German software company SAP signed up 200 new clients in SA last year and expects to duplicate that this year by focusing on small and medium-sized businesses. The company aims…

MTN BUYS 44% of BOTSWANA'S MASCOM

The rumour we reported last week turned out to be true. Acquisitive African mobile operator MTN has bought an effective 44% holding in Botswana’s largest mobile company, Mascom Wireless Botswana…

ECONET WIRELESS INTERNATIONAL: A BUSY WEEK ON ALL FRONTS

Econet Wireless International (EWI) seems to be attracting attention on all fronts: • South Africa’s Altech is in talks with Econet Wireless International. Public speculation is inevitably over finding finance…

On The Money - In Brief

- South Africa’s Industrial Development Corporation (IDC) has agreed to provide a loan facility of R300m to Cell C, the third cellular operator in SA, to finance capital expenditure, Business…

Safaricom reports record Sh20.9 billion profit

Safaricom's Sh20.9 billion profit for 2009 has set a new earnings record that has baffled mobile phone users and investment analysts. The country's leading mobile phone company grew its pre-tax…

Zimbabwe’s Econet ventures into Life Insurance services

Zimbabwe's leading mobile phone operator, Econet Wireless and insurance giant, First Mutual Life have unveiled a new life insurance cover to cater for over 4.5 million Econet subscribers.The new life…

Money News - In Brief

- Kenya's Safaricom has cut withdrawal commissions and increased deposit commissions it offers its M-Pesa agents in an effort to increase the volume of large deposits on its money transfer…

Dubai Holdings' EIT to sell its stake in Tunisie Telecom

Dubai Holdings' Emirates International Telecommunications (EIT) is selling its 35-percent stake - bought in 2006 for $2.25 billion - in state-owned Tunisie Telecom, the Tunisian government said on Friday.EIT has…

Vivendi in Exclusive Talks with Etisalat to Sell Maroc Telecom Stake

French conglomerate, Vivendi has confirmed that it is now in exclusive negotiations with Etisalat to finalize an agreement for the sale of its 53% shareholding in Maroc Telecom.Etisalat was the…

Djezzy secures USD1bn loan from ‘large national bank’

Vincenzo Nesci, president and CEO of Algerian mobile operator Djezzy GSM, has reportedly revealed that the company secured a USD1 billion loan from an unnamed ‘large national bank’, Agence Ecofin…

South Africa Said to Near Agreement on Vodacom Sale Terms

South Africa is in advanced talks about the terms of the sale of some or all of its 27.7 billion rand ($2.3 billion) stake in Vodafone Group Plc’s African unit…

South Africa’s IT company Mustek Profit Takes a Tumble

Computer manufacturer and technology importer Mustek 's profit has taken a serious dive, with a loss of R67,8m caused by foreign exchange fluctuations bringing its figures down, the company announced…

Google And TechnoServe to Boost Entrepreneurship in Tanzania

Google has partnered with TechnoServe and the University of Dar es Salaam in a multi-billion shillings business plan competition. The competition - Believe, Begin, Become, is to be run for…

SAFARICOM UNVEILS MONEY SERVICE IN KENYA

Safaricom last week launched a mobile payment service, that allows its customers to transfer money, and deposit or withdraw funds using their cell phones Known as M-Pesa, it will also…

RAND VOLATILITY DEALS MUSTEK PROFIT BLOW

Foreign-exchange losses have again severely dented computer manufacturer Mustek's operating profit with the rand's "sudden and sharp" depreciation forcing it to account for R57m in unrealised foreign-exchange losses. Its headline…

On The Money - In Brief

- Gabon’s smallest mobile operator Telecel has announced plans to invest XAF20 billion (USD38 million) to expand coverage of its GSM network this year. Telecel remains in third place in…

INTERNATIONAL INVESTORS DO NOT UNDERSTAND AFRICAN TELECOMS MARKETS

Investment analysts need more education about the opportunities in Africa's telecommunications sector, because potentially profitable projects are not getting the funding they deserve. Fund managers do not recognise the pent-up…

On The Money - In Brief

• The World Bank has raised concern over the future of Telkom Kenya, describing the parastatal’s staffing and financial status as poor. The bank says that the corporation’s survival in…

CORRECTION: GATEWAY AND THE SONATEL CONTRACT

The headline of the story in issue 157 should have read "Gateway signs interconnect agreement with Sonatel".

MTN Offered U.S.$8 Billion for Orascom Jewel

Egyptian cellphone group Orascom revealed yesterday for the first time the price MTN was prepared to pay for its lucrative Algerian unit, Djezzy, even as it confirmed talks with the…

Telecel Burkina Faso’s ownership settled by latest Paris’ ICC decision

An Arbitral Tribunal of the International Chamber of Commerce (ICC) in Paris, France rendered a final award in the dispute between Zain (owned by Etisalat UAE)  and Planor Afrique ("Planor")…

Intel Capital courts IT start-ups with eye on future

Intel Capital — the world’s largest venture capital investor in innovative technology — is seeking to acquire stakes in several IT start-ups in Kenya with an eye on long term…

Kenya: Government stake in Telkom set to drop to 30%

The Kenyan government’s shareholding in Telkom Kenya (Orange) is set to drop permanently to 30% following a decision by the National Treasury not to allocate any money to the ailing…

Furore over MTN Zambia's listing strategy

Controversy has erupted over mobile operator MTN Zambia's decision to list its shares on the Lusaka Stock Exchange using a special purpose vehicle called Ikulileni Investments Plc.Prospective shareholders have raised…

On The Money - In Brief

- The Zambia Development Agency (ZDA) has said the selection of an equity partner for Zamtel will be through an open tender process and both local and foreign companies are…

Uganda’s Public Universities Get Dutch ICT Funds

The Netherlands government has provided 5.7m Euros (about sh13b) to boost the development of information and communication technology in four public universities in the country. Makerere, Mbarara, Kyambogo and Gulu…

Namibia’s MTC Profits Up 1,8 Per Cent for 2007

Namibian mobile operator MTC has netted a 1.8 per cent net profit increase for 2007, just N$8,8 million more than at the end of 2006, due to notable rises in…

On The Money - In Brief

- AccessKenya Group, the holding company which owns AccessKenya, Kenya’s leading corporate ISP, and BLUE, one of Kenya’s largest Public Data Network Operators, has applied to the Capital Markets Authority…

On The Money - In Brief

- The Arab Fund for Economic and Social Development (FADES) loaned Morocco 450 million dirhams (about US$50 million) for the expansion of information and communication technologies (ICTs) in the public…

READERS’ RESPONSES – ISSUE 299: AFRICAN ROAMING MOBILE CHARGES

HIGH ROAMING CHARGES ON AREEBA I have had the experience of prepaid roaming on a GSM network when I used Areeba Ghana's prepaid roaming service in 2004. By the way,…

CORRECTIONS: ISSUE 280 - VARIOUS LESOTHO ARTICLES

The company we named as Telkom Lesotho should have been Telecom Lesotho. The rate that read R57 should have have read R0.57. The Lekomo Flexi product is baesed on a…

CORRECTIONS

ISSUE 190: NIGERIAN GOVERNMENT THREATENS “FORCED RE-DELEGATION” ON DOMAIN NAME BODY Please correct the error in this latest edition (190). It is the Nigerian Communication Commission (NCC), not the National…

Xantha Bids for Dynamic Technology in South Africa

Software company Dynamic Technology Holdings said yesterday it had received a R30,2m offer to buy out some of the shareholders in the group from Xantha Properties, which is controlled by…

Kenya carries out a Study to facilitate equity investment and exit routes for ICT companies

A team appointed to find ways on how private equity and venture capital funds can be encouraged to invest in ICT opportunities and helped to exit by the Capital Markets…

Kenya: Samsung, KWFT Pact to Boost Mobile Banking

Nairobi — Samsung has partnered with local microfinance solutions provider, Kenya Women Finance Trust - Deposit Taking Microfinance (KWFT-DTM) to promote the uptake of mobile technology solutions among women.The joint…

Internet boosts South Africa's Naspers FY profit by 20 pct

South African media and Internet firm Naspers posted an expected 20 percent jump in annual profit on Tuesday, boosted by strong performance in its Internet businesses and a weaker rand…

Expresso for sale

Sudanese Telecom group, Sudatel has initiated plans to sell off its stake in Expresso. Sources familiar with the development say a number of companies have expressed interest in buying the…

On The Money - In Brief

- Zain Kenya has announced a major investment to improve its infrastructure. The company said it would spend Sh3 billion in the next three months on upgrading its network especially…

Vodacom 'Might Face Legal Action on Airtime Deals' in South Africa

Vodacom faces the possibility of legal action from the Competition Commission, which claims the company withheld information in a bid to win approval for its R206m acquisition of two companies…

NITEL SIX PREPARING BIDS; SALE DUE BY YEAR END

The sale of a controlling stake in state-run Nigerian Telecommunications Limited (NITEL) will be completed by the end of the year, according to Nigeria’s Minister of Communications Cornelius Adebayo. ‘It…

ECONET'S MASIYIWA BUYS HIMSELF A BANK - KINGDOM FINANCIAL HOLDINGS

Telecommunications mogul Strive Masiyiwa's Econet Wireless Holdings has broken into the banking industry following its $1.5 billion acquisition of a 10 percent stake in Kingdom Financial Holdings Limited (KFHL). The…

ALTECH'S AUTOPAGE CELLULAR LOOKING FOR AFRICAN GROWTH OPPORTUNITIES

Autopage Cellular, the independent cellular service provider, will aggressively pursue growth opportunities in certain parts of Africa, Allied Technologies (Altech) said in its latest annual report. Autopage Cellular is a…

ECOBANK PACKAGES USD53M DEAL FOR ORASCOM, ACCESS TELECOM AND ATLANTIC TELECOM

Ecobank Development Corporation, the investment banking arm of Ecobank Transnational Incorporated has packaged a telecom transaction in excess of USD53 million. Described as the largest private sector telecom transaction in…

MTN MULLS NEW ACQUISITIONS ACROSS AFRICA USING FREE CASH

South African mobile phone company MTN will consider making acquisitions in the rest of the continent and would fund them using free cash, Chief Executive Phuthuma Nhleko told analysts on…

South Africa’s Huge Group's Focus on Improving Operational Efficiency Pays Off

Huge Group has reversed its first-half loss of R5.8m, posting a profit of R8.1m for the year to February despite a slight fall in revenue, thanks to a dramatic turnaround…

International companies Raise Their Stakes in Safaricom

International companies are raising their shareholding in telecoms firm Safaricom Ltd at the Nairobi Stock Exchange as locals and corporates gradually exit. Over the last year, they have increased their…

On the Money - In Brief

- South Africa Dimension Data (Didata) subsidiary Datacraft has submitted an offer to buy New Zealand-based Integral Axon Computer Systems for an undisclosed amount in an acquisition that will more…

'E-toll hearing futile'

Transport Minister Sibusiso Ndebele has put a halt on all future tolling projects.The Congress of South African Trade Unions (Cosatu) says the hearing into e-tolling at the Gauteng Legislature will…

Zimbabwe: Ecocash Spreads to Kombis

Econet Wireless has announced that businesses that accept payments in EcoCash are now able to exchange them for cash at Econet Wireless Zimbabwe approved banks. In a statement, Econet said…

Etisalat Nigeria in possible $400mn tower deal

Mobile operator Etisalat Nigeria could sell cell-towers as part of a $400 million deal. This is according to a Reuters report that says banking and industry sources familiar with the…

Uganda: Utl to Sell Safaricom Shares

Uganda telecom (utl) and Renaissance Capital will handle the sale of Safaricom shares at utl's service centres countrywide. Renaissance is in partnership with Afrika Investment Bank, which is one of…

KENYAN GOVT SEEKS SH25B TO FUND TELKOM KENYA REDUNDANCY PACKAGE

The Government is sourcing for funds to finance retrenchment exercise at the Telkom Kenya, Information Minister Raphael Tuju said last week. He gave no clues as to where the money…

ELEPHANT ADVISOR DENIES JSE MEETING TAKING PLACE OVER TELKOM SHARE

African National Congress spokesperson and Elephant Consortium advisor Smuts Ngonyama last week Wednesday dismissed reports that suggested a meeting would be taking place between his group, the JSE Securities Exchange…

MTN NIGERIA TO LIST ON LAGOS STOCK EXCHANGE

Nigeria's largest mobile operator, MTN Nigeria, in a bid to increase local shareholding, is considering going to the capital market within the next one year. But the board of another…

ZIMBABWE'S CELSYS BUYS COMSHOP AND LOOKS FOR INCREASED HANDSET SALES

 Celsys Ltd has acquired Comshop (Nokia Zimbabwe), the exclusive Nokia mobile phone agent in Zimbabwe, chief executive officer Gary Shayne said this week.  The acquisition is however subject to regulatory…

SWEDISH INVESTORS SELL BACK THEIR STAKE TO NAMIBIA POST & TELECOMS HOLDINGS

Namibia Post & Telecom Holdings Ltd. (NPTH) last successfully concluded a purchase transaction of MTC shares, in which NPTH is acquiring the total share capital of 49% held by two…

PORTUGAL TELECOM ACCEPTS MASIYIWA BUYOUT OFFER FOR MASCOM

Portugal Telecom has accepted a bid from TS Masiyiwa Holdings ­ a major investor in the Econet group ­ for its 50 percent stake in Mascom Wireless Botswana, writes Cynthia…

On the Money – In Brief

- The French government has mounted a fresh diplomatic offensive to support a massive claim for Ksh25 billion ($325 million at current rates) lodged by France Telecom with Kenya's Treasury,…

Tanzanian Government Retains 40% Stake in Zain, Receives USD11m from New Owner

The government of Tanzania is set to receive TZS15.4 billion (USD11.2 million) and to hold on to its 40% stake in fixed and mobile operator Zain Tanzania following the sale…

Africa leads in mobile money deployment as users hit over 40 million

The United Nations Conference on Trade and Development (UNCTAD) says Africa is leading the trend with 51 mobile money systems in place, and as many as 37 of the deployments…

Kenyan mobile money deposits reach $8 billion

A Kenyan sends money through his mobile phone. The sector has witnessed a phenomenal rise, industry regulator data shows.   FILE | NATION MEDIA GROUPKenyans deposited $8 billion into mobile money…

Dutch fund buyout deal values Kenyan website at Sh220m

A Dutch-based venture capital firm has raised its stake in a Kenyan restaurant guide website, EatOut, in a transaction that values the online portal at Sh220 million.The buyout of a…

Government steps in to resurrect Togo Telecom

The government of the tiny African nation of Togo has pledged to intercede to rebuild its ‘bankrupt’ state-owned national operator Togo Telecom and subsidiary Togo Cellulaire (Togocel), pumping in funds…

Neotel Makes Inroads in Telecoms Market in South Africa

National operator Neotel has clocked up R1bn of business in its first year of operation and expects to win deals worth R2bn this financial year as more companies grow to…

On The Money - In Brief

- South Africa's Competition Commission has approved the sale of Tiscali's cellular mobile telephony business to Vodacom. The deal, worth R42 million, will see the Vodacom Group acquire the Tiscali…

On The Money - In Brief

-   Mobile Systems International Egypt MSI has concluded the sell-off of 1.219 million shares (10.58%) of its total 4.8% stake in Vodafone Egypt.

On The Money - In Brief

- Vodacom, one of the leading mobile telephone groups in Africa, made a profit of USD278 million last year to justify its continental market leadership. The money was made in…

On The Money - In Brief

- Regional GSM mobile and internet services operator Orascom Telecom Holding (OTH) announced its consolidated results for the first quarter ending March 31, 2003. Over the three-month period, total subscribers…

ECONET WIRELESS NIGERIA’s DECISION TO FIND NEW OPERATOR SPLITS BOARD

CORRECTION: Due to an attack of the gremlins the above story appeared when it should not have. It is one of our company archive stories and is well over a…

Bharti Airtel Announces N90 Billion Investment in Nigeria

Bharti Airtel, which recently acquired the African operations of Zain, on Tuesday in Lagos, announced its plans for the Nigerian market, where it will invest a whopping N90 billion ($600…

Roamware Wins Nigerian Mobile Banking Contract

Roamware has announced that FETS (Funds & Electronic Transfer Solutions), a consortium focused on increasing mobile payment usage in Nigeria has chosen its Macalla service as their mobile financial services…

Zimbabwe: EcoCash creates ‘parallel payment system’

Businesses that accept payment in EcoCash are now able to exchange it for cash at Econet Wireless Zimbabwe approved banks, the company said today, creating a parallel payment system in…

Maroc Telecom reports 6.9% increase in profit to MAD8.7bn for 9M13

Maroc Telecom, a subsidiary of French media group Vivendi, has published its financial results for the nine months ended 30 September 2013, reporting a 6.9% year-on-year increase in net profit…

Telecom Namibia bows out of Neotel

Vodacom SA’s agreement to acquire 100% of the shares of Neotel, in which Telecom Namibia (TN) is a minority shareholder, comes shortly before TN’s annual general meeting during which the…

Breaking: OLX buys out competitor in Nigeria & Shuts it down

OLX Nigeria Naspers’ backed general classifieds listings site  OLX, has acquired Shibsted’s TradeStable and shut it down redirecting all new visitors to its OLX Nigeria website with immediate effect.This is…

On The Money - In Brief

- Senegal’s national incumbent, Sonatel is prepared to hand out to its shareholders (Senegalese Government, France Telecoms and private investors) the total profit realised by the company in 2007. Subject…

NITEL RECORDS USD3 MILLION LOSS

The Nigeria Telecommuni-cations Limited may have recorded a drop in profitability of about N39.9 billion and a 25 per cent decline in revenue if the 2003 audit report of the…

READERS RESPONSES

Issue 180: Africa’s digital divide initiatives - time for a reality check A colleague pointed out the following paragraph from Balancing Act 180. "The key is always does the information…

AFRICA ONLINE’S FRED MURUNGA ON A TOUGH MARKET

Africa Online’s Fred Murunga talks to News Update about the tough conditions in the summer market. The company’s been through a lot of changes. Where are things at now? We’ve…

On The Money - In Brief

- The Angolan Government has approved the new privitisation law which aims to simplify and speed up procedures for foreign investment. Good news for those who might be interested in…

Orascom Sells Local ISPs to MobiNil

Egyptian telecoms group Orascom Telecom has announced the sale of its two local internet subsidiaries – LINKdotNET (Egypt) and Link Egypt – to mobile network operator MobiNil for USD130 million.…

Liberia’s smallest operator Libercell is snapped up by Kuwait’s Hits Africa Inc

Hits Africa Inc, a Kuwait based Telecom Company has acquired a majority shareholding in Atlantic Wireless Liberia and its brand Libercell as part of a deal to extend and improve…

Money News - In Brief

- In collaboration with Information Technology Industry Development Agency (ITIDA), ministry of Communications and Information Technology (MCIT) holds a meeting entitled "Communication for Development". The meeting will be held with…

MainOne ups investment in distribution networks to West African countries

Nigerian submarine cable company, Main One Cable says it has stepped up investment in distribution networks in the face of a dearth of commercially reasonable alternatives.The company announced last weekend…

Money News - In Brief

- Huawei Technology Company Limited, a Chinese company at the center of a controversial USD $43 million tax exemption by the government of Ghana over an e-Ghana project, is in…

Telkom Agrees to Buy Business Connexion to Boost Offering

Telkom SA  agreed to acquire Business Connexion Group Ltd. (BCX) as Africa’s largest fixed-line phone company plans to boost its cloud-based offerings of information and communication technology services.Telkom is offering…

Morocco raises MAD 2 billion in LTE auction

Moroccan telecom regulator ANRT has approved the bids for LTE licences submitted by the country's three mobile operators, Maroc Telcom, Medi Telecom and Wana Corporate. ANRT said they were three…

Ghana Renews Search For Ghana Telecom Stake Buyer

A Ghanaian government official said Thursday that the process of finding a buyer for a majority stake in Ghana Telecom has been renewed after bids from European telecom operators were…

MTN OWNERS MAY BE IN LINE FOR A DIVIDEND WINDFALL

  The shareholders of MTN Group could receive a windfall through a special dividend after Africa's largest cellphone operator by revenue announced last week that it expected its headline earnings…

CORRECTION

ISSUE 132: IT’S BEHR, NOT BEER David Behr, former owner of Zimbabwe Online wrote in to correct the spelling of his name in the People column in issue 132.

On the Money News: In Brief

* Indian telecoms operator Bharti Airtel plans to invest around USD100 million in Niger to improve the reach and quality of its network in the West African nation by the…

Econet Profit Surges 39 Percent

Econet Wireless' half-year profit to August rose 39 percent to US$64,2 million after the group added about a million new subscribers on its network. The group spent US$122 million on…

Boost for Moroccan tech start-ups

The Maroc Numeric Fund has solid backing and a healthy attitude to risk – good news for bright ideas.A state-backed Moroccan risk-capital fund focused on technology start-ups has invested €1.8m…

The Uphill Task of Selling Safaricom in Kenya

Handling the biggest Initial Public Offer in the country ever is no small task for the joint managing director and co-CEO of Dyer & Blair Investment Bank, Hassan Mohammed. Perhaps…

On The Money - In Brief

- Celtel is to invest 4.8 billion shillings in an expansion programme in Kenya expected to see it increase its share in the local market. The groups Chairman Naushad Meralli…

Safaricom's Share Price in Gradual Rise

Safaricom's share price has slowly been rising ahead of next week's announcement of the firm's half- year earnings following the drop in the share price since August when the tariff…

Ringing Results for Telecom Namibia

Riding on the back of increasing subscriber additions for its broadband offerings, Telecom Namibia last year rang up a three per cent increase in total revenue, totalling N$1,16 billion.Releasing its…

Money News - In Brief

- Airtel Chad has collaborated with one of the leading banks on the continent – Ecobank - to launch Airtel Money in the West African nation.Touted as the first Mobile…

Kalahari, Takealot merger gains approval

The Competition Commission has approved the merger of Kalahari and Takealot, two of South Africa's leading online retailers. In October, the two companies announced their intention to merge, subject to…

Dubai Firm to Invest in South Africa’s Telecom Market

Dubai-based telecoms advisory firm Delta Partners has boosted plans to invest in SA by launching an $80m equity fund. It is now seeking telecoms players in which to invest that…

ICT Attracts Sh590b Projects in Uganda

Information Communication Technology (ICT) has attracted investment projects worth $350m (sh590b) in the last six years. According to a report issued by the Uganda Investment Authority (UIA) the ICT sector…

Morocco: Meditel’s new owners may list stake, invite foreign partner in future

The new owners of Morocco’s second largest mobile operator Medi Telecom (Meditel) are considering a listing on the stock exchange as well as the future possibility of selling a stake…

Icasa rate cuts lead to R745m Vox impairment

Vox Telecom is writing down goodwill and intangible assets to the tune of more than R745m. The news comes just hours after the Independent Communications Authority of SA announced it…

Rwandatel Hit With Rwf54.3 Billion Liabilities

Rwandatel is willing to pay the Rwf54.3 billion it owes to its creditors arising from debts and other expanses, the company's new administrator said yesterday.The financially crippled telecom operator is…

Swazi MTN Seeking Compensation for Breach of Wireless Monopoly

MTN's Swaziland subsidiary is seeking SZL850 million (US$100 million) in compensation from the state-owned telco, Swaziland Posts and Telecommunications Corporation (SPTC) stemming from a dispute over MTN's monopoly on mobile…

Safaricom gets go-ahead to acquire Essar Mobile

Two months after Safaricom shareholders approved the acquisition of Essar Telecommunications Kenya, the Communications Authority of Kenya (CA) and the Capital Markets Authority of Kenya have given the company approval.Described…

Azur Telecom seeks investment in Gabon, Congo, CAR

Jean Bruno Obambi, CEO of Azur Telecom, is in the process of securing international financing for the company’s operating units in the Central African Republic, the Republic of Congo and…

Nigeria’s First Bank and Others Finance US$240 Million for MainOne Fibre Cable

First Bank of Nigeria Plc in collaboration with Skye Bank and African Finance Corporation (AFC), have signed a US$240 million financing deal with MainOne Cable Company, a private sector-led initiative…

Anabel Mobile Signs Music and Video Deal With Storm Records in Nigeria

Anabel Mobile, the latest entrant into the telecommunications industry in Nigeria, has signed a mega Music and Video deal with Storm Records. The deal covers Storm granting Anabel licences to…

South Africa’s Vodacom black economic empowerment deal set to be controversial

Sparks are set to fly as mobile phone network operator Vodacom moves closer to finalising its R7.5bn black economic empowerment (BEE) deal. Under normal circumstances a R7.5bn socially friendly initiative…

13 bidders interested in buying Nigeria’s disastrous incumbent Nitel

A total of 13 telecoms companies have expressed an interest in acquiring a 75% stake in Nigeria’s struggling incumbent telco Nitel and its mobile arm M-Tel according to a statement…

On the Money – In Brief

* Broadband provider Kenya Data Networks (KDN) has announced that it is ready to begin work on its long-delayed fibre-optic network, in conjunction with local company Green Future. Chief Marketing…

Zimbabwe: Econet transfers 49% Ecoweb stake to Liquid in USD70m partnering deal

Econet Wireless Zimbabwe has signed a USD70 million partnership agreement with associated company Liquid Telecommunications Holdings (Liquid), which henceforth takes a 49% stake in the cellular operator’s ISP arm, Ecoweb.…

SA crowdfunding start-up unveiled

StartMe.co.za, a new start-up, claims that South African entrepreneurs who have struggled to secure finance via traditional means such as bank loans can now take advantage of its new funding…

Kenya’s Cardplanet Raises $100,000 from Silicon Valley’s 500 Startups

Kenya’s  Cardplanet Solutions has raised $100k from 500 Startups to up its products, hire engineers and focus on customer acquisition in a move that will turn around the firm’s fortunes…

Nigeria - BPE confirms payment of N12.7b for NITEL/MTEL by NATCOM

THE Bureau of Public Enterprises (BPE)  has said that the preferred bidder at the just completed liquidation of Nigeria Telecommunications Limited (NITEL) and its mobile arm, MTEL has paid 30…

Mauritius Telecom profit down 5%, listing still on

Mauritius Telecom said 2008 post-tax profit fall 5 percent to 1.9 billion rupees ($59 million) on increased interest payments. Mauritius Telecom, which dominates the fixed line and mobile markets and…

New licence fees dreaded by South Africa’s VANs

The proposed licence fee structure for new telecommunications licences could put a damper on the victory celebrations of smaller value-added network service providers (VANs). They could now see themselves hammered…

On The Money - In Brief

- Côte d’Ivoire Telecom (CIT) has raised 7.5 billion CFA francs (US$15 million) funding through an international bond issuance organised by City Bank in five countries member of the West…

MOODY'S DOWNGRADES CELL C'S RATINGS

International credit ratings agency Moody's Investors Service has downgraded South Africa's third mobile operator Cell C's Corporate Family rating and related debt issues. Moody's also assigned a negative outlook to…

South Africa: Huge Group’s audited results show R2.7 million increase in revenues

Huge Group, an AltX listed company specialising in managed telecommunications, last week reported that its revenues for the year ended 28 February 2009 had increased by a further R2.7 million…

Uganda: UTL to Appeal Against MTN's Sh5 Billion Court Ruling

Uganda Telecom has no plan to pay Shs5 billion in fees and interest to MTN Uganda, despite a High Court order to the firm to do so. Instead, the mobile…

Money News - In Brief

- Airtel Burkina Faso, the largest mobile company in the country, has launched its mobile money platform named Airtel Money, or m-ligdi, in partnership with Ecobank. The platform allows consumers…

MTN-Afrihost deal approved

Afrihost has announced that its deal with MTN has been approved by both the Competition Commission and the Commission Tribunal.“This marks the continuation of the successful collaboration between the two…

ARTCI approves Moov sale to Maroc Telecom

In a document published on 29 December 2014 Ivorian telecoms regulator L’Autorite de Regulation des Telecommunications/TIC de Cote d’Ivoire (ARTCI) has confirmed that it has approved the sale of Moov…

Sierratel secures USD29 million expansion loan from India

The Sierra Leone Parliament ratified a loan agreement of $29,452,856 for the modernization and expansion of the network and telecommunications infrastructure of Sierratel. The loan agreement was provided by the…

South African software company ready for the Worst Or the Best

Software developer UCS is working with two budgets for the coming year: one for business as usual and one housing contingency plans on how to react if the economic turmoil…

VENDOR MERGERS ARE EXPECTED IN A CROWDED SOUTH AFRICAN IT MARKET

The local technology market is too small to support all the service providers that are battling for business, and consolidation among rival vendors is inevitable, says research house BMI-TechKnowledge. Spending…

MTN ON BUYING SPREE: COMPLETES IVORY COAST ACQUISITION, ACQUIRES FULL OWNERSHIP OF MTN NETWORK SOLUTIONS AND STAKES CLAIM ON TELECEL ZAMBIA

South African telecom giant MTN has acquired a 51 percent stake in Loteny Telecom, trading as Telecel Cote d'Ivoire, in West Africa's Republic of Cote d'Ivoire, the group announced on Tuesday.…

Kenya: Essar Group buys out Econet Wireless

Indian telecommunications firm, Essar Group, has assumed majority shareholding in Essar Telecom Kenya after buying out Econet Wireless Kenya. Essar Telecom Kenya Chief Executive Officer Srinivasa Iyengar, in an exclusive…

HBD Ventures US$5.1 million On Fundamo Growth in South Africa

HBD Venture Capital has invested US$5.1 million in technology developer Fundamo to help it tap into foreign markets with its mobile banking and payment software.HBD is the venture capital fund…

Money – In Brief

- India’s largest mobile network operator in terms of subscribers, Bharti Airtel has reported a hefty drop in net profit in its 2010-11 fiscal year, as a result of foreign…

Vimpelcom resolves Algeria row with $2.6 billion stake sale

Russia's Vimpelcom has resolved a long-running dispute with the Algerian government by selling it a majority stake in the country's biggest telecoms operator for $2.6 billion, while it will keep…

URA orders permits firm to pay sh5b

Face Technologies, the company which issues driving permits in Uganda, has not paid taxes in the past five years, the tax body has said. The Uganda Revenue Authority has consequently…

On The Money - In Brief

- The Gambia Chamber of Commerce and Industry, in collaboration with New Technologies Africa (NTA), a registered company engaged in Information Technology is putting finishing touches to the launch of…

Setback for Zambia Handset Factory as M.Mobile pulls out

Plans to set up a mobile phone manufacturing factory in Zambia faced a set back after the Malaysian backer, M.Mobile pulled out of the joint venture. The factory is due…

ETHIOPIA’S ETC UNDERSHOOTS PROFIT TARGET WITH US$45M PROFIT

The Ethiopian Telecommunications Corporation (ETC) made a net profit of 379.5 million birr in the past nine months. A nine-month performance report presented by ETC to Parliament last Monday indicated…

NIGERIA: IILL LOSES BID TO RECOVER USD131M DEPOSIT ON NITEL

Investors International (London) Limited (IILL) has lost its bid to recover the USD131.7 million paid to the Federal Government of Nigeria (FGN) as 10% of the bid price for the…

KENYAN GOVT TO SPEED UP TELKOM SALE, COMPLETE BY JUNE 2005

The Government plans to fast-track the restructuring of Telkom Kenya in preparation for the sale of its equity at the stock market. The Permanent Secretary in the Ministry of Transport…

On The Money - In Brief

- Zain, whose shareholders voted to lift a cap restricting ownership last Monday, is in talks to sell a stake in its African operations, its chief executive said. Zain is…

South Africa’s Infraco to be open to private investment

The department of public enterprises has called on the public to comment on a new bill that will govern Infrastructure Company (Infraco), the state-owned broadband firm tasked with rolling out…

Angolan shareholders claim right to buy out Portugal Telecom from Unitel

Angolan businesswoman Isabel dos Santos and the other local shareholders of Angola's largest cellco Unitel have told fellow shareholder Portugal Telecom (PT) that they intend to 'exercise their rights' to…

On The Money - In Brief

- Mozambique’s Minister of Transport and Communications, Paulo Zucula, has revealed plans to partly privatise incumbent mobile operator, mCel. According to the plan at least 5% of company shares will…

MTN's R1bn MNP pay-off in South Africa

MTN Business expects 30% of its entire revenue to come from government spend in the near future, and is looking to mobile number portability (MNP) as a way to achieve…

On The Money - In Brief

- Ghanaian Government is negotiating for a $30-million Chinese concessionary loan to speed up Information Communication Technology (ICT) connectivity to rural areas. Two-thirds of the Ghanaian population lived in the…

ECONET WIRELESS SHARES TUMBLE BY 40 PERCENT ON NEWS OF NIGERIA BATTLE

Econet Holdings Limited’s shares have lost 40 percent of their value over the past few weeks. An analysis on the counter showed that the share tumbled by almost 45 percent…

Nigeria: Nigcomsat-1 Market Projected a N128 Trillion by 2010

The Nigeria Communication Satellite (NigComSat-1) has been projected to reap benefits from the telecom market worth N128.2 trillion ($1.2 trillion) by the 2010.President Musa Yar'Adua made this observation over the…

IFC Invests in Helios Towers Africa to Expand Access to Telecommunications

IFC, a member of the World Bank Group, last week announced a $25 million equity investment in Helios Towers Africa Limited (HTA) to help the company build and maintain mobile…

Net1 wins five-year social grant tender

Shares in Net1 UEPS last week jumped as much as 37% to an intraday high of R79.50 after the company said its subsidiary, Cash Paymaster Services, had won a five-year…

Mozambique Telecoms Seeks Chinese Funding

Mozambique’s state-run telecommunications company, TDM, said on Friday it was negotiating a US$25 million loan from China for its expansion programme to the country’s rural areas. TDM chief executive officer…

READERS’RESONSES :

ISSUE 310 – THE AFRICAN ISP IS DEAD ! LONG LIVE THE AFRICAN ISP ! I read your article "The African ISP is dead! Long live the African ISP!" with…

On The Money - In Brief

  - Vodafone Egypt announced its 1Q FY04 results ending in June and the company posted impressive 144.3% net profit growth to LE199.8 million, versus a LE81.8 million realized in…

IN BRIEF:

- In a report entitled the Transformational Potential of M-Transactions, Vodafone argues for new rules to ease money transfers by mobile phones in Kenya.  Kenya's Safaricom, in which Vodafone has…

Nigeria: Ibori's Alleged Accomplices Plead Guilty in V-Mobile Shares Trial

Two alleged accomplices of the former governor of Delta State, James Ibori, have pleaded guilty to V-Mobile shares theft charges. Daniel McCann and Mr. De Boer were charged for forgery…

Eaton Towers Secures Funding for Vodafone Ghana Towers Deal

Eaton Towers, an African towers network operator has secured a US$30 million loan to fund its expansion into Ghana.The transaction was signed last month and provides for a 5-year senior…

Convergence Partners to accelerate African ICT development through new infrastructure fund

Convergence Partners - an investment management firm focused on the telecommunications, media and technology sector in Africa - has announced the launch of the Convergence Partners Communications Infrastructure Fund (CPCIF),…

Nigeria’s Action Congress Seeks Probe of Nitel Sale

The Action Congress (AC) has called for a thorough investigation into the sale of Nitel to Transcorp, in the wake of fresh revelations concerning the acquisition of 51 per cent…

OGER’S 60% STAKE IN CELL-C MAY BE SOLD AS COMPANY RESTRUCTURES

Cell C is planning a thorough review of its capital and controlling structure. Shareholders are looking at a number of options, which include the sale by majority shareholder Saudi Oger…

KENYA SAFARICOM SIGNS KSH12BILLION LOAN

Mobile telephone operator Safaricom has signed a Ksh12billion (about US$166.6 million) loan facility to finance the company's planned expansion of its network. Safaricom's chief executive, Michael Joseph, said the funds…

CORRECTIONS

Issue 361: Power to the base stations – a modest propositionThe data on unspent universal service access fees came from the GSM Association, not the World Bank. We should perhaps…

Kenya: Safaricom Shares Account for Half of Sales at NSE

Safaricom shares accounted for more than half of the market turnover recorded at the Nairobi Stock Exchange last year, indicating strong investor interest in the telecommunications firm and bearing heavily…

Money News - In Brief

- Uganda’s Warid Telecom and Obopay announced a new agreement that will see the telecommunications operator launch a mobile banking and payment service called WaridPesa.

Warid Congo launches Warid Mobicash

Warid Congo SA, the leading telecommunication operator in Congo, has announced the launch of Warid Mobicash across its network. This offer is based on the Mobile Money technology from Mobicash.Warid…

Ghana - Three Hospitals in Upper East to go biometric for vetting payment claims

Three major Hospitals in the Upper East Region are to go biometric in the vetting and facilitating of payment claims by service providers under the National Health Insurance Scheme (NHIS)…

Vodacom Raises Stake in Tanzanian Subsidiary

South Africa based Vodacom has raised its stake in Vodacom Tanzania from 65% to 82.2% for a payment of ZAR2.5 billion (US$250 million).It's making the purchase of the additional 17.2%…

On The Money - In Brief

- BNP Paribas Consortium emerged as the highest bidder to become adviser to the National Council for Privatisation (NCP) on the privatisation of the Nigerian Telecommunications (NITEL) and its mobile…

Dyer & Blair partner with Morgan Stanley for Safaricom IPO

Kenyan investment bank, Dyer & Blair last announced it has formed a consortium with Morgan Stanley to provide transaction advisory services to the Safaricom IPO. Dyer and Blair’s Joint Managing…

MILLICOM’S  FIRST QUARTER REVENUE ARE UP

Millicom International, Tuesday reported first-quarter revenue of $563 million from $303 million in 2006. Subscribers increased by 94%, bringing total subscribers to 16.5 million, excluding discontinued operations. "In the first…

SOUTH AFRICAN ALTECH CASH PILE TOPS R1,5BN ON YEAR OF GROWTH

Technology group Altech is sitting on R1,5bn in cash while its directors continue their long-running quest to find suitable acquisitions to spend it on. A solid year of cash generation…

Money – In Brief

- Business process outsourcing (BPO) services provider, Aegis BPO Holdings SA, has announced its investment in South African BPO start-up, Iningi Investments. The investment will see Aegis provide assistance worth…

Airtel and FirstBank Sign MoU on Mobile Money Service

The landscape of e-banking services in Nigeria is set to witness a major shift as two leading companies in banking and telecom sectors of the economy, FirstBank of Nigeria Plc…

Zampost develops new payment system

The Zambia Postal Services Corporation (Zampost) has developed a new payment system called Commercial Payment Services which has capacity to make payments and money transfer services worth more than USD20…

Turkcell resumes R43bn lawsuit against MTN

Turkcell Iletisim Hizmetleri has resumed its $4.2 billion (R43bn) damages claim against MTN Group, Africa’s largest telecommunications firm, this time in the South Gauteng High Court, where it filed papers…

Eaton Tower Raises $350 million for Expansion Across Africa

Eaton Towers, an independent telecom tower company in Egypt, has announced it has raised $350 million in new equity resources from shareholders to fund expansion and acquisitions across Africa.According to…

Sell-Offs At NSE As Market Eyes Safaricom IPO in Kenya

Whispers that the landmark Safaricom IPOs offer date is expected sometime towards the end of March is already causing quiet ripples at the Nairobi Stock Exchange (NSE) with dealers noting…

Econet raises US$20 million for Zimbabwean network expansion

Econet Wireless has raised the entire funding for its expansion programme targeted to lift network capacity to 1.2 million. The firm is now waiting for contractors and suppliers to finish…

SOUTH AFRICA’S ALTECH GOES ON AGGRESSIVE HUNT

A third of Altech's profits should be generated from abroad within two years as the technology group explored opportunities for setting up factories and telecoms operations in emerging markets, the…

MAROC TÉLÉCOM’S 1Q SALES UP 12%

Moroccan fixed line and mobile operator Maroc Télécom last week announced a 12% year-on-year increase in first quarter revenues, driven by an 8% rise in fixed line and internet sales…

Etisalat takes over Atlantique Telecom

UAE-based carrier Etisalat on Monday acquired the remaining 18 per cent of Atlantique Telecom that it does not already own. Etisalat paid $75m to take its holding in Atlantique to…

Egypt’s Mobinil net profit to drop 80 percent

Egypt’s Mobinil is to expect a net profit drop of up to 80 percent (image: stock.xchng)AlembicHC has slashed the price target on shares for Egypt’s Mobinil by 21 percent to…

Local innovation to be major focus of AITEC Banking & Mobile Money Conference

The theme of this year’s AITEC Banking & Mobile Money Conference is “Showcasing the region’s banking and mobile payment innovation successes”. The intention is to use this the region’s leading…

Taxes ‘hamper African mobile telecoms growth’

Sub-Saharan Africa is the fastest-growing mobile market in the world but growth is being held back by inadequate spectrum allocation and high taxation, according to a report by the GSMA,…

Minister under fire as Masawara set for Telecel take-over

INFORMATION Communication Technology Minister Supa Mandiwanzira will force Telecel Zimbabwe’s largest shareholder, VimpelCom, to sell their shares to London-listed investment vehicle, Masawara, New Zimbabwe.com understands.Masawara is registered in the tax…

A Solution to Sentech Funding Crisis gets a political push in South Africa

Parliament's communications committee is determined to end the long-standing stalemate between the treasury and state-owned signal carrier Sentech over funding for its broadband wireless strategy. The committee has demanded that…

Botswana: IFC picked as transaction adviser for BTC privatisation

The Public Enterprise Evaluation and Privatisation Agency (PEEPA) board has engaged the International Finance Corporation (IFC) to act as transactional advisers as government shifts attention to privatise the Botswana Telecommunications…

On The Money - In Brief

- Telekom Malaysia (TM) has formally completed the sale of its 30% holding in Ghana Telecommunications (GT) to the Ghanaian government. In a statement published on 20 April, TM said…

AS SIERRATEL INVESTIGATION STARTS NEXT WEEK, THE GOVERNEMNT OWES IT OVER $10 MILLION

As the proposed investigation instructed by President Kabbah into the activities of one of the most lucrative but backward parastatals, Sierratel is expected to start next week, the government of…

Tanzania: New Telecom Bill Sends Shockwaves to Investors

Parliament last week passed a communication bill that makes it mandatory for mobile companies to be listed on the Dar es Salaam Stock Exchange (DSE). But the bill has riled…

Firm launches service linking bank accounts to handsets in Kenya

A new player has entered the mobile money business, this time integrating virtue accounts in telephone handsets to bank accounts.Mobikash Africa Limited says its service dubbed Mobikash will operate across…

South Africa: Firm Up for Mobile Innovation Award

South African mobile services company Oltio has been nominated in the "best mobile money innovation" category at the annual GSMA Global Mobile Awards for its payD platform, which turns a…

Money News – In Brief

- The Zimbabwean state-owned fixed line operator TelOne has implemented a complete end-to-end billing and customer care solution from Israel-based software vendor FTS. TelOne’s billing transformation project includes the implementation…

Nigerian billionaire Mike Adenuga’s Globacom makes $600M bid for Ivorian mobile phone company

Nigerian mobile operator Globacom‘s founder, Mike Adenuga, has told shareholders that he has made a bid to buy Comium Cote d’Ivoire for USD 600 million including debt, according to people…

Econet Wireless Secures Kenyan Network Rollout Funding

New entrant into the Kenyan mobile market, Econet Wireless (trading as Yu) has secured the Sh 35 billion (US$450 million) loan necessary to fund its network rollout. The deal had…

R2bn GautengOnline tender questioned

A R2 billion GautengOnline education project is shrouded in controversy, amid speculation of irregularities during the evaluation and awarding of the tender. A source close to the process, who asked…

Six companies shortlisted to bid for Ghana Telecom

There are six bidders for incumbent Ghana Telecom including Portugal Telecom, France Telecom and Telkom South Africa for the 51% stake the government wants to sell. Twenty foreign investors initially…

On The Money - In Brief

- Orascom Telecom is to increase its stake in Hutchison Telecom International by 3.7%, lifting its overall ownership to 23%. ‘It'll take a couple of weeks because we'll have to…

GHANAIAN GOVERNMENT AND TELEKOM MALAYSIA SETTLE GHANA TELECOM DISPUTE

The Government of Ghana and Telekom Malaysia (TM) last week announced that they have reached an amicable settlement in their international arbitration proceedings concerning the pair’s long-running dispute over fixed…

Cellcom Goes Public in Liberia

Cellcom Telecommunication Incorporated, the privately-owned American cell phone and Internet Company in Liberia is offering opportunities to Liberians, other residents and business houses to participate in profit-sharing rights of the…

Africa: Sector Boosts Vodacom's Turnover 6 Percent

Vodacom Group shrugged off steep revenue falls in its international division to post a 6% year-on-year rise in turnover for the quarter to December, as growth in its core South…

Bharti Airtel Revenues Rise but Profits Fall

India's Bharti Airtel has reported that its revenues for the three months  ended June 30, 2011 jumped by over a third (38.6%) to reach Rs 16,975 crore (US$3.8 billion)Africa continued…

Money News - In Brief

- Standard Bank Namibia this week published advertisements in local papers announcing the launch of its new internet banking interface. However, The Namibian has been inundated by SMS and e-mail…

Lap GreenN eyes Orange Uganda

A subsidiary of Libya’s sovereign wealth fund, Lap GreenN, is said to be interested in bidding for Orange Uganda, which owner Orange has hired Lazard to assess strategic option for,…

WorldRemit calls on regulators to block Western Union’s MoneyGram acquisition

WorldRemit founder and CEO, Ismail Ahmed, has commented on the potential acquisition of MoneyGram by its largest competitor – Western Union. According to reports by Bloomberg and Reuters, Western Union…

Telecom Egypt eyes its neighbours as it mulls expansion

If you have the cash and the nerve a recession can be a great time to make some relatively cheap strategic acquisitions - and Telecom Egypt (by far and away…

Zain okays 125 percent capital increase to support expansion

Shareholders in Zain (Kuwait's Mobile Telecommunications) gave their approval to a 125 percent increase in the group's capital to fund future global expansion. Zain will raise about 1.2 billion dinars…

On The Money - In Brief

- Nigeria’s Visaphone Communications has acquired International Phone Networks ITN for N3 billion. - Results posted by Mincom Limited, Australian software developer and global provider of software to asset intensive…

KENYA TELKOM PRIVATISATION IN 2006, SAYS MD

Outgoing Telkom Kenya Managing Director John Waweru has predicted June 2006 deadline as the date when the giant state corporation would be privatised. "It can't be in six-months. If we…

VODACOM SEEKS TO REVIVE STALLED NIGERIAN DEAL

Cellular group Vodacom was working to revive stalled attempts to control Nigeria’s number two network by restructuring the deal, its major shareholder said last week. Belinda Williams, a spokesperson for…

Zain Pours Sh2 Billion Into Tanzania’s Government Coffers but forecasts flat revenue for 2009

Mobile phone network operator Zain Tanzania has paid over Sh2 billion as its dividend to the Government for 2007. Speaking at a brief function where a symbolic cheque for Sh2.4…

Audit faults Huawei, ministry on Ugandan Internet project

An audit of Uganda's US$106 million national fiber backbone and e-government infrastructure project, which was contracted to Huawei Technologies of China, has brought to the fore inadequate supervision by the…

Rwandatel to Meet Creditors Following Court Ordered Liquidation

Rwandan telco, Rwandatel has confirmed that it will be meeting with its creditors after a local court ordered the company to liquidate its assets to repay debts.The company is estimated…

WeChat throws hat in African ring

Instant messaging platform WeChat has risen to prominence over the last year, and with the dominance of WhatsApp and BBM on the continent, the company is well aware of the…

Zambia: Allegations fly over the appointment of sale adviser for ZAMTEL privatisation

Zambian President Rupiah Banda on Monday defended government over allegations there was some improper handling of the partial sale of ZAMTEL, the state owned telecommunications giant. Banda told journalists at…

On The Money - In Brief

- In South Africa, TeleMasters, announced that it has acquired Marketel with a view to expand in the communications management sector. Marketel has a licence to provide value-added network services…

CELL C'S BEE CONSORTIUM TO SELL SHARES

Mobile operator Cell C has confirmed that it is seeking approval from the Independent Communications Authority of SA (ICASA) to sell 15% of its shares currently held by BEE consortium…

On The Money - In Brief

- Sadok Rabeh, Tunisian Minister of Technology and Transport has announced that Tunisie Télécom will open its shares to the public and give first priority to its own customers. -…

Tower sharing offers opportunities for emerging markets

While the large operators in Western Europe like Telefonica or Vodafone have instigated advanced active infrastructure sharing and outsourcing, telecom operators in developing markets are now beginning to look into…

On The Money - In Brief

- NetOne seeks to exempt NetOne from going through the State Procurement Board to enable it to swiftly purchase equipment in tandem with the current dynamic technological environment, an official…

Money News - In Brief

- The government of Niger is looking for a new buyer for state-owned telco Sonitel, after a deal to sell a stake in the company to Libya’s LAP Green Network…

Kenyan government to force audit of mobile money systems

The Kenyan government will soon force the auditing of mobile money systems and financial institutions, to ensure that customers are protected from the increasing risk of cybercrime.Ministry of Information and…

Workers acquire 10% stake in Mozambique’s TDM

According to unconfirmed local press reports, management, technical personnel and other workers at state-owned Telecomunicacoes de Mocambique (TDM) have acquired 10% of the state-owned company’s share capital. Under the terms…

Sentech snubbed in budget in South Africa

National Treasury has allotted state-owned Sentech R360 million for the coming financial year, a slim R10 million increase from last year's budget. According to the department's budget, the state-owned enterprise…

DIDATA'S PROFIT GROWS THREEFOLD

Dimension Data's operating profit is showing strong growth, as the group announces plans to grow into Africa and participate in the new voice over IP (VOIP) wave. In announcing the…

NO LUCK FOR ECONET’S NIGERIAN INVESTORS AS THEY CAST AROUND FOR A BETTER PRICE

According to Nigeria’s Daily Champion the Econet operation in Nigeria (only part owned by the parent company is actually looking for fresh capital injection from the South African company Vodacom.…

Vodacom hurt by Gateway acquisition

Since becoming a subsidiary of the Vodafone group in May this year, Vodacom has undertaken a number of initiatives to boost profitability. Through leveraging Vodafone's international presence and experience, the…

Nigeria: Mobile Money - Etisalat Launches Easywallet SIM Application

Etisalat has launched new SIM Application solution for mobile money payments and transfers, aimed at providing secure and innovative products and services for its customers.Etisalat is offering the service in…

Money – In brief

- The popularity of mobile money services in the African nation of Tanzania exploded between 2010 and 2012, according to figures from the Bank of Tanzania published in East Africa…

TERACO now certified to cater for electronic payment processing providers.

Teraco Data Environments, South Africa’s first vendor neutral data environment has successfully achieved the Level 1 Payment Card Industry Data Security Standard (PCI DSS) certification for its co-location data centres…

Africa e-commerce firm expands to new markets

Online retailer Jumia, a would-be African Amazon set up by German venture capital firm Rocket Internet, is expanding into three new markets - Uganda, Ghana and Cameroon, the company said…

On The Money - In Brief

- Business Connexion Group increased revenue by 10,3% to R2,2 billion in the six months ended 30 November 2008 as the group’s revitalisation programme continued to gain momentum. Growth in…

COMPUTER MANUFACTURER PINNACLE PROFIT UP 143% TO R16,8M

Computer manufacturer Pinnacle Technology has increased profit 143% after efforts to win more customer loyalty paid off in results for the six months to December released yesterday. Pinnacle manufactures the…

On The Money - In Brief

- Nitel mobile operation (which operates under the brand name M-Tel) has said it expects turnover to almost double to NGN30 billion (USD227 million) this year, up from NGN15.5 billion…

NEW KENYAN VC FUND FOR TECH START-UPS

A technology business development network, c4IDEA.com, has teamed up with a group of investors and institutions to set up a Sh150 million venture fund to finance technology-driven start-ups in the…

AFRICAN LAKES IN FRESH ROUND OF FUNDRAISING FOR GBP7 MILLION

African Lakes Corporation said last week it had started a fresh round to raise Sh110 million from its shareholders in Kenya and London through an open offer. The offer closes…

On The Money - In Brief

- The debt of ailing Nigerian incumbent operator Nitel will be shared between the telco’s new buyer and the federal government according to the chairman of the Senate Committee on…

SA’s Telkom Group up for re-nationalisation at US$1.5 billion

The South African government is re-nationalising the Telkom Group given its importance to the growth of telecommunications infrastructure in the country, reports say. The government is set to offer R24 ($3.00)…

16 Million M-Pesa users hit by new Government Tax

Pursuant to amendments to the Customs & Excise Duty Act gazetted on 1st February 2012, leading integrated communications service provider Safaricom has effected an upward review of its M-Pesa tariffs…

Altech’s KDN acquires stake in TEAMS

Allied Technologies Limited (Altech), through its subsidiary Kenya Data Networks Limited (KDN), last week announced the acquisition of an 8.5% stake in the TEAMS cable costing US$11 million. The investment…

NAMIBIA BANK EXTENDS FINANCIAL GUARANTEE TO POWERCOM

The Development Bank of Namibia (DBN) has announced four new projects it is financing, to a total value N$36.75 million, with N$30.5 million of that amount going to new mobile…

CONTROL BUYS US HI-TECH SUPPLIER OF COMPUTERS

Fleet management technology company Control Instruments has concluded a $3,5m move to buy 51% of Texas-based Tripmaster, a supplier of onboard computers to the trucking market. The acquisition gives Control…

On The Money - In Brief

  - Two Consortium, one of two groups bidding to run South Africa’s second fixed-line telecom network, said on Wednesday it would tell regulators it could raise initial equity funding…

South Africa’s PayU launches SME-relevant payment service

South Africa’s online and mobile payment service provider PayU has launched EasyMerchant, a payment solution targeted at enabling small to medium sized enterprises (SMEs) to perform credit card payment transfers. EasyMerchant…

SOAS Launches Training Event For African Diaspora Entrepreneurs

The University of London’s School of Oriental and African Studies (SOAS) is launching a certification course for young African diaspora entrepreneurs, aimed at honing their abilities to build business links…

Mozambique’s mCel profits rise 58% in 2008

mCel, the Mozambique based mobile operator, has reported net profit of MZN548 million (USD20.76 million) for 2008, up 58% year-on-year from MZN348 million in 2007. mCel CEO Gomes Zita said:…

Nitel/Mtel will get New Investor By Feb 2009

Speaking through the National Council on Privatisation (NCP), government said that it had fixed February 6, 2009 as the handover date of NITEL/Mtel to a new private owner, having scaled…

AFRICA CELLULAR'S SHARES INCREASE 40 PERCENT ON ALTX DEBUT

Shares in Africa Cellular Towers, a manufacturer of steel communication towers, gained as much as 40% in their debut on AltX last week. The stock, which was privately sold for…

On The Money - In Brief

-    Telecom Egypt (TE) has posted an 80% rise in net profit for 2005, up to EGP1.8 billion (USD313 million), as an improvement in the Egyptian economy helped push up…

RESPONSES

ISSUE 156: IXPS - THE "NO-BRAINER" SOLUTION At one level it is - but look at it from the point of view of an existing ISP. They have secured their…

Visafone Acquires Multilinks for N8 Billion

Visafone has further strengthened its market position by acquiring Multilinks Communications Limited's CDMA mobile assets. Multilinks is arguably the oldest mobile phone company in Nigeria, having been operating in the…

Ghana: Airtel Money trains 350 agents

Airtel Ghana has held the first training session for 350 Mobile Money agents and given them a wide range of skills to make them efficient Airtel Money agents. The training…

Telkom South Africa Seeking Empowered Buyer for Its Swiftnet Electronic Division

Telkom continues to redefine its business activities by making a concerted effort to finally sell Swiftnet, a division that operates electronic payments including credit card verifications and point-of-sale terminal transactions.…

Zain Raises $4.49 Billion in Kuwait's Largest Ever Capital Raising History

Zain Group, the leading mobile telecom operator in the Middle East and Africa, (MEA) has announced the successful completion of its capital increase raising $4.49 billion (approximately N529.82 billion) with…

TELKOM STUNG BY COURT'S R1.5BN TELCORDIA RULING

Fixed-line operator Telkom was dealt a R1,5bn blow when the Supreme Court of Appeal (SCA) yesterday ruled against it in a long-running dispute with US computer software company Telcordia Technologies.…

Readers’ responses: Issue 296

EASSY FIBRE PROJECT – THE “BEHIND-CLOSED-DOORS” DEBATE ABOUT HOW IT WILL BE DONE COMES INTO THE OPEN I wish to say that EASSy has been shrouded in a real grey…

WACS prepares for SA landing

MTN punts the advantages of its investment in submarine cables which will “reach new frontiers as WACS prepares for SA landing” MTN Group last week said in a press statement…

Zimbabwe: Econet Takes Ecocash to ZSE

Econet Wireless Zimbabwe is working on setting up a payment system for small value shares bought on the Zimbabwe Stock Exchange using its mobile phone- based money transfer facility, EcoCash.The…

Gabon Telecom Partners with Mahindra Comviva for Mobile Money and Messaging Solution

Mahindra Comviva, the global leader in providing mobile financial and VAS solutions, has announced that it has partnered with Gabon Telecom, an affiliate of Maroc Telecom and the largest telecom…

Easing of Local Partner Rule to Spur Telecoms Sector in Kenya

A surge in foreign telecoms companies investment is expected after the government relaxed the rule on local ownership. The move is anticipated to inspire investor confidence. The cap on 80…

South African technology firm expands business to in the UK

Technology supplier EOH is making progress with a new venture in the UK and with new divisions to serve specific industries, although CEO Asher Bohbot says its expansion will be…

KENYANS TO GET 34 PERCENT OF TELKOM IN IPO

The public will be offered a share of Telkom Kenya before the year ends. The Government yesterday said it will sell 34 per cent of its stake in the parastatal…

On The Money - In Brief

- The European Union, Delegation of the European Commission in Ethiopia said on Tuesday that the Commission has signed a two million Euro agreement with the United Nations Food and…

PINNACLE BOOSTS BEE PROFILE IN DEAL WITH AMABUBESI

SA Computer maker Pinnacle Technology has struck a black empowerment deal to sell 20% of its shares to Amabubesi, an organisation that is led by former national director of public…

CELTEL READIES ITSELF FOR GBP1.1 BILLION UK FLOAT

African mobile phone group CelTel is planning to float on the London Stock Exchange early next year with an expected value of GBP1.1 billion. The company operates in 13 African…

SA’S ETHOS TECH FUND 1’S FIRST ACQUISITION IS INGO INFORMATION SOLUTIONS

Ethos Private Equity’s new venture capital technology fund, Ethos Tech Fund 1, has made its first investment, leading the management buyout of information solutions provider INGO Information Solutions. The effective…

Wananchi Plans Sh8.4 Billion Rollout in East Africa

Telecoms firm Wananchi Group is to invest an extra Sh 8.4 billion to increase the rollout of its services across east Africa, its CEO said yesterday.Wananchi Group, which bundles broadband…

Money - In Brief

- Zimbabwe has launched its first real time online payment gateway service, Zimswitch vPayments, that enables the use of locally issued debit cards. The service is modelled around the internationally…

Study: women underserved in m-banking

A study released by the GSMA mWomen Programme and Visa entitled, Unlocking the Potential: Women and Mobile Financial Services in Emerging Markets, shows that women in developing countries represent a…

Huawei and Warid at odds in Cote d’Ivoire

A long-running dispute between Warid Telecom and Huawei continues to rumble on in Cote d’Ivoire, where the pair are at odds over existing debts owed for the rollout of Warid’s…

On The Money - In Brief

- Vodafone, formerly Ghana Telecom, says the evolution of Ghana Telecom to Vodafone was expected to involve a process of transformation that would result in the restructuring of the business…

The Senate Approves N27.8 Billion Budget of the Nigerian Communications Commission

The Senate yesterday approved the 2008 budget of N27.845 billion, for the Nigerian Communications Commission (NCC). Both revenue and expenditure projections stood at N27.845 billion. Senate Committee on Communication, in…

Kenya’s Safaricom Registers Record Profit Growth

Last Tuesday Safaricom reported record profits and announced plans to boost coverage in the rural areas as a strategy of growing its customer base in the face of mounting competition.…

EU RESEARCH FUNDING  FOR ICT IN AFRICA

South African institutions can access European Union (EU) funding for ICT research if they are willing to collaborate with their European counterparts. This message emerged in Pretoria yesterday, at the…

DIMENSION DATA BUYS 51% OF SAMEER'S ICL

A South African-based company, Dimension Data, has acquired a 51 per cent stake in the Sameer-owned ICL East Africa, the leading provider of information technology systems in the East African…

GHANA - CUSTOMERS OWE GT ¢400M

CEO of Ghana Telecom, Oystein Bjorge has said that although the company is making profits, customers owe about ¢400million. The company also complained about the current interconnectivity regime that does…

On The Money - In Brief

- Listed cellular company MTN Group said on Thursday that in association with its co-shareholders in MTN Nigeria, it was exploring ways of introducing broader Nigerian shareholder participation in MTN…

CTO INVESTMENT SUMMIT IN GHANA HIGHLIGHTS NEED FOR LOCAL CAPITAL

Reconciling the interests of government, operators and investors was the focus of the Digital Africa Summit, held in Accra, Ghana, from 19 to 21 February 2003. The summit’s theme was…

Mobile Wars Erode Kenya’s Tax Revenue

The government has lost nearly Sh1.5bn in tax collected on airtime due to the mobile phone tariff wars. The shortfall to the Kenya Revenue Authority is attributed to mobile users…

MasterCard, Equity Bank launch MPOS offering in Kenya

As Kenya continues to push the value of paperless money transfer and mobile money services, MasterCard and Equity Bank have joined forces to launch Mobile Point of Sale (MPOS) technology.MasterCard…

Egypt's Mobinil negotiating LE2.5 bn loan

Egyptian mobile carrier Mobinil is negotiating a LE2.5 billion ($357m) syndicated loan with four banks, the company said in a statement to the stock exchange on Wednesday.The loan would be…

On The Money - In Brief

- Posta Uganda, one of the country's last remaining parastatals, is set to partner with a local telecom firm in a new mobile money transfer service along the lines of…

Vodacom posts annual profit rise

South Africa's biggest mobile phone operator, Vodacom Group, reported a rise in annual profit, as it boosted subscriber numbers, parent company Telkom said on Tuesday. Telkom, said its mobile unit…

NAMIBIA WILL RECEIVE A CHINESE LOAN FOR GOVERNMENTT SOFTWARE

The government will engage a Chinese software company to install an electronic management system for the public service. Cabinet approved that the Office of the Prime Minister could secure funding…

SEC SANCTIONS GHANA TELECOM'S US$40M BOND ISSUE

After expressing its displeasure at the way the Ghana Telecom (GT), led by Databank, raised an amount of US$40 million through the issuance of bonds to expand and upgrade its…

CELL C CHALLENGES RIVALS WITH BETTER NUMBERS

CELL C has followed up the daunting results issued by larger rivals MTN and Vodacom last month with figures of its own showing strong results for the September quarter. While…

NITEL: 'PENTASCOPE SQUANDERED N105BN IN 20 MONTHS,' ACCORDING TO EX-NITEL MANAGER

The account below of a parliamentary committee hearing in Nigeria is a masterful attempt to shift all the blame for Nitel's current financial position on to the now-sacked Pentascope. Nevertheless…

RUMOURS COME THICK AND FAST IN SOUTH AFRICA ON THE BRINK OF COMPETITION

South Africa's ICT sector is in a high state of excitement with competition only a few months away. On a recent visit we picked up the following rumours that may…

On The Money - In Brief

- Econet Wireless, the only listed technology company on the Zimbabwe Stock Exchange, released its interim results last week for the six months to December 2002, which showed a dramatic…

Money – In Brief

- France Telecom’s 40%-owned Moroccan affiliate Medi Telecom (Meditel) has posted a 126% year-on-year rise in its net profit in 2010 to MAD623 million (USD78 million), on a 7% rise…

Mfw4a consultative workshop 2013 aitec banking & mobile money west africa conference

Making Finance Work for Africa (MFW4A) has announced its participation in the sixth annual AITEC Banking & Mobile Money West Africa conference, to be held over two days from March…

South Africa: Datacentrix acquires eNetworks

Datacentrix said on Tuesday it had bought eNetworks, an internet service and networks specialist, but did not disclose the amount paid for the company.Datacentrix has been seeking acquisitions to strengthen…

Africa's Mobile Industry to Pay US$71 Billion in Tax By 2012

The mobile industry will generate US$71 billion in tax revenues in Sub-Saharan Africa between 2000 and 2012, but that figure would be higher still if governments removed taxes that treat…

TUNISIA RANKS FIRST IN MAGHREB AND AFRICA FOR ICTS INVESTMENT

Tunisia has been awarded a new international distinction and classified by the World Report of Davos on information technologies first in the Maghreb and in Africa, and 35th worldwide, out…

TELKOM SA LOOKS SET TO LOSE ITS STOCK SHINE

Ever since it listed in 2003, telecoms group Telkom has been the darling of the markets. A former state-owned company with a de facto monopoly over SA's fixed line market,…

SOUTH AFRICA DATATEC BUYS AVNET US HP BUSINESSS

South African IT company Datatec Ltd. has bought Avnet Inc's U.S.-based Hewlett-Packard business unit, it said last Monday. Datatec did not give financial details but said in a statement the…

ECONET TO USE BOTSWANA AS GLOBAL LAUNCHING PAD

  International telecommunications company, Econet Wireless International (EWI) has injected US$140 million (P616 million) into the Botswana-headquartered Econet Wireless Global (EWG) in a development that will see the company launching…

On The Money - In Brief

- The deadline for international investors to express an interest in acquiring a stake in NITEL is 28 January 2005.

GHANA WILL PAY USD50 MILLION TO BUY OUT TELEKOM MALAYSIA

According to a Reuters report, Telekom Malaysia announced that the Ghanaian government agreed to pay the Telekom USD50 million for its shareholding. "The government of Ghana has admitted it will…

CORRECTION: ISSUE 145 - ECONET WIRELESS NIGERIA’s DECISION TO FIND NEW OPERATOR SPLITS BOARD

Due to an attack of the gremlins the above story appeared when it should not have. It is one of our company archive stories and is well over a year…

Money in Brief

- Nasser Marafih, CEO of Qatar Telecom (Qtel, soon to be rebranded as Ooredoo) has confirmed to reporters at the Mobile World Congress in Barcelona that the Qatari group has…

Telkom South Africa’s Media Plans On Hold As It Awaits Clarity

Telkom digital media business Telkom Media had to suspend some plans until there was clarity on its shareholding structure, Telkom Media spokesman Chris van Zyl said on Friday. He could…

On The Money - In Brief

- Pan-African cellular group MTN reported a 49% increase in turnover to ZAR52 billion (USD7.66 billion) in 2006. The rise was attributed both to organic subscriber growth and the acquisition…

CELTEL HAS NO PLANS TO INVEST IN ZIMBABWE, SAYS PIETERS

Celtel International has no immediate plans to invest in Zimbabwe, chief executive officer Marten Pieters has said. Speaking on Zambia National Broadcasting Corporation (ZNBC) television's Conversations programme on Sunday evening,…

On The Money - In Brief

- The Egyptian Telecommunications Ministry revealed during a press conference that shares of Telecom Egypt will be sold for L.E14.80. The Ministry had stated at an earlier date that a…

WINNING BIDDER FOR LIBERIA'S LTC REVEALED TO BE INVOLVED IN "FORGERY, TAX EVASION AND FRAUD"

The man at the center of the controversy over the privatization of the Liberia Telecommunications Corporation, James S. Yarclay, was once allegedly embroiled in forgery, tax evasion, fraud, and an…

ECONET UNFOLDS PLANS TO TAKE OVER VMOBILE READY WITH USD230M BID FOR MAJORITY SHARE

Econet Wireless Interna-tional says it is now ready to take up and fully pay for a 50 per cent plus one majority shareholding of cash-strapped Vmobile Nigeria, months after it…

TELECEL ZIMBABWE FINED Z374 MILLION FOR ILLEGAL CURRENCY DEALING

Telecel Zimbabwe was yesterday fined USD374.2 million, the Zimbabwe equivalent of the hard currency involved, by a Harare regional court for illegally dealing in foreign currency. Telecel, represented by Anthony…

MTN R22m builds 2MW tri-generation plant to ease dependence on Govt utility Eskom

MTN last week unveiled its 2MW tri-generation plant in a move intended to ease its dependence on Eskom electricity. MTN said the R22m methane-driven plant would ensure continued security of…

On The Money - In Brief

- MTN Group, Africa's largest mobile phone network operator, said it has been approached by India's Reliance Communications about a possible "business combination" and has entered a 45-day period of…

CORRECTION:

ISSUE 300 - ALGERIA OPENS UP ITS VOICE MARKET TO VOIP BUT SETS THE BAR HIGH Just wanted to point out a minor error in the latest Algeria article .…

PIC, ELEPHANT IN TALKS ON TELKOM TRANSFER

The state pension funds administrator Public Investment Commissioners (PIC) yesterday said it was still in talks with Elephant Consortium in a bid to determine how the black economic empowerment consortium…

On The Money - In Brief

- South African cellular operator Cell C announced last week it had turned EBITDA (earnings before interest tax, depreciation and amortisation) positive on a monthly basis at the end of…

Wire Nigeria Project: Suburban wants NCC probed over subsidy to Phase 3 Telecom

Suburban Limited, a privately owned long distance operator (LDO) has petitioned the Federal Government to probe the nation’s telecoms regulator citing alleged “faulty process and lack of transparency” in a…

Reps in Nigeria Want Locals to Own 30 Percent Shares in GSM Firms

The House of Representatives is in the process of enacting a law that would compel all GSM operators in the country to reserve and allocate at least 30 percent of…

Sudatel to Buy 70 Percent Stake in Nigerian company Intercellular

Sudan Telecommunications Company (Sudatel), the national telecoms company of Sudan is to buy 70 per cent share of Intercellular, one of Nigeria's leading privately owned telecoms operator in yet another…

On The Money - In Brief

- China's ZTE Corporation International, a firm linked to telecommunications sector, will finance about USD 400 million for Angola, a press release issued by the Cabinet Council announced. From this…

READERS WRITE

ISSUE 216: CSIRT: A ROUTE TO COMBATING AFRICA'S POSITION AS ONE OF THE WORLD'S CYBER-BADLANDS There is now a CSIRT in Algeria set up with USAID funding. Jonathan Metzger USAID

ECONET WIRELESS SAYS ORASCOM, VODACOM EYE NIGERIA STAKE

Cairo-based mobile phone operator Orascom Telecom and South Africa’s Vodacom have both sent teams to look at buying a stake in Econet Wireless Nigeria, Nigerian telecoms officials said on Monday…

Tanzania: Compulsory listing of telcos on Stock Exchange still an issue

Mobile phone operators in the country will continue to engage the government so as to convince it to amend the newly signed Electronic and Postal Communications Act in their favour.…

Represesntatives Passes N63.1 Billion NCC Budget, Rejects N6.1 Billion SIM Card Registration

The House of Representatives has passed the 2010 budget of N 63.1 billion for the Nigerian Communication Commission (NCC) with recurrent, capital and special projects expenditure amounting to N 9.7…

Econet’s Liquid Telecom now worth half a billion?

On January 12 Last week Altech announced the offloading of an 8.6% stake in  Liquid Telecom Holdings to Econet Wireless for a reported $55 million. While this move has further…

Egyptian Orascom talked with Vivendi about a tie-up

Naguib Sawiris, the billionaire head of Egyptian cell phone group Orascom Telecom, has approached Vivendi about a possible telecoms tie-up but the pair failed to agree on price, Les Echos…

TELKOM SOUTH AFRICA SHARE SALE CREATES UPROAR

Stakeholders in the controversial purchase of a chunk of Telkom shares have instructed lawyers to unmask secret shareholders and investigate if anyone who scored from the R9-billion deal has cashed…

TUNISIE TELECOM SHORTLIST DELAYED A FEW DAYS

The Tunisian government is likely to delay the selection of candidates for a 35% stake in Tunisie Telecom in order to get more detailed offers from some bidders, a person…

On The Money - In Brief

 - SA’s IT services and solutions group AST’s 2003 financial year should go down as its worst ever. It was a set of numbers described by non-executive chairman Hans Smith…

Zambia to sell up to 75% telecoms firm Zamtel

Zambia plans to sell up to 75 percent of the telco incumbent Zamtel as part of a push to privatise state assets, the country's development agency said on Tuesday. The…

Cost Cutting Pays Off for Business Connexion in South Africa

Technology group Business Connexion (BCX) is on track to reach its operating margin target of 8% as its restructuring programme is starting to bear fruit. The company's operating margin for…

Telkom CEO takes home millions

Telkom executives took home millions over the last financial year, with large bonuses and benefitsTelkom has been struggling over the last year or two, but that does not mean that…

UN Denies Any Wrongdoing in Kenya’s Internet Deal

United Nations officials in Nairobi have denied that a Sh800m contract for Internet services in Gigiri is being improperly awarded. UN Information Director Nasser Ega-Musa has now advised, "A contract…

Nigeria’s Adlevo Capital invests in Solo

Adlevo Capital Managers, a private equity fund manager focused on investments into technology-enabled businesses in sub-Saharan Africa, and Kuramo Capital Management, a sub-Saharan Africa multi-asset class investment manager, completed a…

Zain Invests US$420 million to Launch Mobile Services in Ghana

Zain will invest US$420 million in its new network in Ghana and for the first time will be offering 3.5G services to its customers. Zain Ghana's network will offer its…

Foreigners to Pay More for Safaricom Shares in Kenya

Foreign investors wishing to buy into mobile phone operator Safaricom Ltd must be prepared to pay much more than the price local investors will pay for the same shares during…

IS ARPU A VALID PERFORMANCE METRIC?, ASKS GARTNER

When mobile operators were rolling out their mobile networks, it was fairly easy to measure how well they were doing. You simply looked at the size of its subscriber base,…

On The Money - In Brief

- MTN Uganda’s profits rose by 14% to UGS67.8 billion (USD36.59 million) in the year ended March 2005 on the back of a 45% jump in subscribers during the period,…

RELTEL WILL OFFER N14 BILLION OFFERING ON NIGERIAN STOCK EXCHANGE

Reliance Telecommunications Limited (RELTEL's) plan to offer N14 Billion to the public has started attracting the interest of capital market experts and leading financial institutions who are jostling for positions…

Internet Solutions acquires stake in Mozambique ISP

Internet Solutions and Convergence Wireless Networks acquire stake in Mozambique based ISP. Internet Solutions (IS) and Convergence Wireless Networks (CWN) announced last week that they have collectively acquired a 68.5%…

MobiNil 1Q profit falls 2% as competition bites in Egypt

MobiNil has released its financial results for the three months ended 31 March 2010, posting a 2% year-on-year decline in net profit for the period. The operator revealed that in…

In Brief:

-  Nairobi — Retrenched Telkom Kenya staff who worked at its technology college will be paid terminal benefits of Sh160 million. The MultiMedia University College is negotiating with the relevant…

MTN Supports Moves for Stock Market Listing of Rwanda Subsidiary

South Africa's MTN has said that it will support plans by the Rwandan government to float its 10 percent stake in MTN Rwanda onto the local stock market, ending speculation…

Vodacom 2Q12 revenues up 9.3% to ZAR17bn

South Africa-based Vodacom Group has reported consolidated revenues of ZAR17.02 billion (USD2.08 billion) for the three months ended 30 June 2012, up 9.3% on the corresponding year-earlier period. The carrier’s…

Nigeria: Capcom merger thrown into doubt by regulator’s warning

The merger of Nigeria's CDMA networks could be thrown into doubt after the telecoms regulator expressed concerns at how long the process is taking, and said that it might revoke…

Orascom claims MobiNil sale deadline missed

After recent claims that it had offered to extend the deadline to 15 April for its enforced stake sale in Egyptian cellco MobiNil to France Telecom (FT), Orascom Telecom has…

MTN’s South Africa Empowerment deal a hit with investors

The black economic empowerment deal MTN created in 2002 has turned out to be the most successful so far in wealth generated for participants. About 3200 MTN staff and former…

Black-Owned Telecoms Firms Buy Stake in Nokia Unit in South Africa

Two black-owned telecoms investment companies are taking stakes in the local operations of Nokia Siemens Networks. No value has been disclosed for the deal, under which Sekunjalo Telecoms and Africom…

GIJIMAAST BOUNCES BACK INTO PROFIT

Technology company GijimaAst has defied analysts' expectations, returning to profitability for the first time in four years after a string of losses and crippling liabilities of R765m. Once SA's fourth…

MTN GROUP PROFITS HIT USD1 BILLION MARK

MTN Group has posted an after tax profit of USD1 billion for the year ended March 31, 2005. This represents a 47 percent rise from the USD630 million recorded for…

Orascom Confirms Receipt of Dividends from Algerian Subsidiary

Egypt based Orascom Telecom Holding has announced that its Algerian subsidiary Orascom Telecom Algerie (OTA) has received the approval of the Algerian government's tax office to repatriate 50% of its…

On the Money - In Brief

- In South Africa, Bihati Solutions, a telecoms infrastructure provider, has filed a R1.7bn suit against Telkom for its delay in implementing a multibillion-rand tender awarded to Bihati and others…

Tariff Cuts Repulsing Investors says Telkom Kenya’s CEO

Mobile telephony in Kenya has lost the shine to attract investments owing to major cut in tariffs, Telkom Kenya CEO Mickael Ghossein has said. The company which has announced plans…

Nedbank still committed to M-Pesa

Nedbank, the financial services partner in Vodacom’s M-Pesa mobile payments initiative, says it is “disappointed” that the service hasn’t taken off as fast as it had hoped for but it…

Burkina Faso to impose new tax on telecoms revenues

A new tax on telecoms companies operating in Burkina Faso has been introduced by the country’s Finance Act 2014, in a move that is expected to generate around XOF12 billion…

Comesa chairman blasts Africa telecom infrastructure investments

Eastern and Southern African countries have failed to develop their ICT infrastructure to enhance communication in the region, according to Kenyan President Mwai Kibaki, also the chairman of the Common…

MTN gets the nod for I-Talk

THE Competition Tribunal has approved the merger between MTN and I-Talk Cellular after a long battle by some interested parties to discourage the deal. The tribunal heard statements from interested…

On The Money - In Brief

- Dubai-based private equity group, Alcazar Capital intends to invest some US$58.5 million in Telkom Kenya as part of a France Telecom-led deal that gives 51% of the country's telecommunications…

GLOBACOM TO TAKEOVER WESTEL IN GHANA?

Speculation is rife that Nigeria’s SNO, Globacom is set to take over the operations of Westel communications in Ghana. Westel was granted a license to operate a mobile service late…

On The Money - In Brief

- Quadrem Africa, an online trading hub for the mining industry, had merged with TradeWorld, creating a bigger and black-owned trading hub. The merged entity would create the largest marketing…

On The Money - In Brief

- Telecel Zimbabwe Chairman James Makamba last Thursday lost a chunk of his shareholding in Empowerment Corporation (EC) in a reconfiguration exercise meant to accommodate other shareholders. Representatives of the…

Telemasters invests to grow in South Africa

Organic growth and additional clients aided revenue growth in the nine months to June, says listed least-cost routing company Telemasters. The company says revenue grew 32.7%, to R170 million, due…

Zambia’s Competition and Consumer Protection Commission approves fibre optic joint venture

Zambia’s Competition and Consumer Protection Commission (CCPC) has issued an unconditional final authorisation for the creation of a joint venture between Copperbelt Energy Corporation (CEC) and Liquid Telecommunications Holdings Limited…

IHS invests $8 million to upgrade Network Operations Centre in Lagos

IHS, a telecommunications infrastructure provider, with headquarters in Nigeria and operations across Africa, has invested USD 8 million to upgrade its Network Operations Centre (NOC) in Lagos. The upgrade allows…

Nedbank still committed to M-Pesa

Nedbank, the financial services partner in Vodacom’s M-Pesa mobile payments initiative, says it is “disappointed” that the service hasn’t taken off as fast as it had hoped for but it…

Africa's IHS Towers Secures $522 Million for Expansion

African tower network operator, IHS Towers say that it has raised US$522 million in fresh debt and equity, led by new and existing lenders and shareholders.The combined transaction, which represents…

Samsung continues to dominate African smartphone market

Samsung is continuing its dominance of Africa's smartphone market with BlackBerry, Sony and Nokia gaining ground, as mobile phone usage on the continent continues to skyrocket.IDC's quarterly mobile phone tracker…

Korea Telecom will review its Africa expansion effort – New CEO wants to focus more on its domestic business

KT plans to review its business projects in Africa as its new CEO Hwang Chang-gyu wants to focus on bolstering the firm’s competitive edge in the domestic telecommunication business, said…

Didata’s big telecom gamble in South Africa

Dimension Data’s Internet Solutions (IS) is set to up the ante in South Africa telecommunications by pumping many hundreds of millions of rand into new fibre infrastructure as it steps…

Rwandatel to Invest US$45 Million in Their Rollout Plan This Year

Rwandatel is attracting 40,000 subscribers weekly on its new 3G GSM system, making it the fastest growing telecommunication company in Rwandan history. And all this in spite of the fact…

MYSTERY SURROUNDS WAR VETS ASSOCIATION'S TELECEL SHARES IN ZIMBABWE

Mystery surrounds the sale of the Zimbabwe National Liberation War Veterans' Association's shares in Telecel Zimbabwe's second largest shareholder, the Empowerment Corporation, with several legitimate members in the dark over…

On The Money - In Brief

- In Nigeria, the Attorney-General of the Federation and Justice Minister Michael Aondoakaa (SAN) said that the Economic and Financial Crimes Commission (EFCC) has cleared the former Delta State governor,…

Interview: iBurst sees success in DRC

iBurst Africa is a wireless data provider established by its current founder and CEO, Thami Mtshali, to offer superior connectivity solutions to consumers and businesses on the African continent.iBurst Africa…

Money News - In Brief

- Burkina Faso state-owned telecom operator Onatel has signed an agreement with Banque Internationale du Burkina (BIB) to allow mobile subsidiary Telmob's customers to top-up their credit with Visa Africards…

Money – In Brief

- Maroc Telecom has recorded net income of MAD3.13 billion (USD344 million) for the first six months of 2012, down 22% year-on-year following voluntary redundancy costs and declining sales in…

SES, Portugal Telecom ink capacity renewal deals

Satellite operator SES has signed two capacity renewal deals with Portugal Telecom to meet connectivity demands across the Archipelago of the Azores and the Portuguese-speaking African countries. Under the terms…

Wireless body opposes Vodacom’s Neotel bid

South African mobile operator Vodacom’s bid to acquire fixed line telco Neotel has been met with resistance from the country’s Wireless Access Providers’ Association (WAPA).WAPA, which acts as a collective…

Mboweni Speaks On Econet Wireless Deal in Zimbabwe

Econet Wireless Holdings (EWH) held a stormy Extraordinary General Meet-ing (EGM) in Harare last Friday where a proposal to acquire equipment worth about US$94 million from Econet Wireless Global (EWG),…

On The Money - In Brief

- MTN's R1.4bn bid to acquire the African operations of Verizon became easier when a fierce opponent of the deal belatedly gave up its hard-won right to participate in Competition…

Meditel to invest MAD 4.2 billion in Morocco

Moroccan telecoms operator Meditel will invest MAD 4.2 billion over the next two years to keep up with market growth and introduce new services, Reuters reported on Wednesday. The sum…

SETPOINT SHARE RALLIES ON TALK OF POSSIBLE TAKEOVER OFFERS

Shareholders in SetPoint Technology seem eager for a shake-up within the industrial hi-tech group, with its shares surging 28% on news that it may no longer survive as a stand-alone…

Money News - In Brief

- In Zimbabwe, troubled Renaissance Financial Holdings Limited has been provisionally barred from disposing of its 30 percent stake in Africa First Renaissance Corporation Limited - until it clears a…

Kuwait Zain Q2 net profit falls 14%

Kuwaiti telecommunications operator Zain reported a 14% fall in its second-quarter net profit on Sunday to 61 million dinars ($214 million), mainly because of a currency loss in Sudan, according…

Vodafone, MoneyGram ink global M-Pesa cooperation agreement

Vodafone and MoneyGram have signed a global agreement that will enable customers from 200 countries to transfer money directly to M-Pesa users. The service will be launched in key markets…

Wananchi Group concludes USD130m financing for expansion

Wananchi Group, one of Kenya’s largest internet service providers (ISPs), has completed a USD130 million financing to fund its growth and expansion in East and Southern Africa. In a press…

On The Money - In Brief

- Telkom South Africa and US-based AT&T signed a memorandum of understanding (MOU) that will see the operators collaborate in sub-Saharan Africa. The local telecoms giant explains the crux of…

Skannet Shareholders Endorse Merger in Nigeria

Shareholders of Skannet, one of Nigeria’s service providers in the country have approved the proposed merger of the company with smaller organisations in its bid to stay afloat in the…

AFRICAN MOBILE BATTLE HEATS UP AS MTN AND VODAFONE SNIFFING AT KENYA

As the African mobile market is now almost completely licensed, attention is now shifting to the competition for existing mobile companies in major markets. A major pan-continental fight is shaping…

EGYPT PLUGS AWAY AT RAISING VC FUNDS

Walid Bakr put together Egypt’s first and only early-stage venture capital fund. Despite the lack of competition, it wasn’t easy. When Bakr first began raising money for the US$8.5 million…

MTN Denies Reports of Hostile Takeover Bid for Botswana Mobile Network

South Africa s MTN Group has dismissed speculation that it is interested in raising its stake in its Botswana based subsidiaryMTN Group labelled as 'pure fabrication' local media reports that…

NATCOM Consortium Completes Payment for NITEL/MTEL

The preferred bidder for Nigerian Telecommunications Limited (NITEL) and its mobile arm (Mtel), NATCOM Consortium, has paid the 70 per cent outstanding balance of the $252,521,000 bid price for the…

Huge Group Cuts Off MTN on iTalk Deal in South Africa

The Huge Group said in a statement last week, Monday, 30 June 2008, that it intends to oppose the transaction between MTN and iTalk on the basis that the transaction…

On The Money - In Brief

- Econet was commended by Kingdom Stockbrokers for being the first company to release its interim results for the period ended 31st December 2004:"Even allowing for the fact that these…

STANDARD BANK LAUNCHES NETWORK FOR AFRICA

Standard Bank (SBK), one of South Africa’s so-called "big four" banks, has announced plans to enhance its custody product offering in sub-Saharan Africa through the creation of a regional custody…

Ghana: Jospong-Expresso deal off

Adom Business can confirm that the Jospong Group of Companies (JGC) and Expresso Telecoms Ghana deal is off.The two closed discussions on the sale of Expresso on Friday January 31,…

Telecel negotiating its future with POTRAZ

Telecel, the struggling Zimbabwean mobile provider which is 60%-owned by Vimpelcom of Russia via holding company Global Telecom, has written to the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ)…

Vodafone to challenge Western Union for overseas money transfers

Having achieved considerable success with money transfers in emerging markets--notably Kenya, Vodafone is now actively considering implementing a scheme that challenges the overseas money transfer incumbent Western Union. The initial…

Dos Santos shows further interest in Telecel stake - report

Businesswoman Isabel dos Santos is firming up her interest in the telecommunications sector as she recently sent her representatives to discuss investment opportunities with government officials, Zimbabwe Independent reported. Her…

On The Money - In Brief

- Former Telkom CEO Papi Molotsane's Synglo Technologies has bought a 65% stake in value-added network service provider UniNet for an undisclosed sum. The deal has an ironic twist to…

Mubadala Cedes 40 Percent Equity to Etisalat in Nigerian GSM licence

Mubadala Development Company, the UAE-government owned company that got a Nigerian GSM licence for $400 million earlier this year has simply sold on 40% to Etisalat who will actually operate…

BUSINESS CONNEXION COSTS SHOOT UP

Two cash-intensive projects conducted by technology company Business Connexion had dampened its financial performance, but prepared it to win more contracts in coming years, CEO Peter Watt said last week.…

Internet Service Providers Record Rise in Earnings in Kenya

Local Internet service providers are earning higher revenues signalling increased use of the web among consumers, industry statistics show. The data indicate that average revenue per user (ARPU), a measure…

TELECOM EGYPT FIRST HALF YEAR RESULTS

Telecom Egypt, the largest fixed- line telco in the Middle East and North Africa, has announced that first-half profit rose 7% on subscriber growth. Net income grew to Egyptian Pounds…

MTN sues Uganda Telecom over Shs7b

MTN Uganda has taken its competitor, Uganda Telecommunications Ltd to court, seeking payment of Shs7.2 billion in interconnection fees. In its case filed at the High Court’s Commercial Division, the…

Mobile Banking Kicks Off in Rwanda

Banks in Rwanda are turning to mobile phones in an effort to improve service delivery and cut costs as competition intensifies. It is now possible to pay electricity bills, top…

Safaricom IPO Confirmed for Next Week

The floatation of Kenya's Safaricom has resumed following the calming down of the political turmoil over the past few months. The floatation of a 25% stake held by the government…

Growing Pains for Mobile Billing in South Africa

Mobile billing is coming of age but not without some growing pains. It opens up the world of micro-payments yet consumers are paying extra for download costs, even when unsuccessful,…

COMPU-CLEARING TO PAY OUT ALL PROFIT

Technology company Compu-Clearing is handing out its entire annual profit to shareholders as it is generating more cash than it needs. Shareholders will receive a dividend of 11c and a…

MTN KEEN ON TAKING UP VIVENDI SHARES IN KENCELL

Mobile phone operator MTN is looking at acquiring Vivendi’s 60 per cent stake in KenCell Communications as one of the options of expanding its footprint in East Africa. "We are…

Safaricom Profits Up to Sh9.1 Billion in Kenya

Safaricom's half year pre-tax profit for the period ending September 30, 2009 rose 1.7 per cent against a competitive environment and dwindling average revenue per user (ARPU). The company's pre-tax…

Maroc Telecom’s 2009 financial results: Revenue up by 2.8% and net earnings down by 1%

Maroc Telecom Group’s 2009 consolidated revenues amounted to MAD30,339 million, up 2.8% versus 2008 (up 1.3% on a comparable basis2), underpinned, on the one hand, by results in Morocco and…

Kenya: M-Pesa Linked to Your Bank Via Pesapoint

M-PESA subscribers will be able to transfer money from their bank accounts into their M-PESA accounts through a new service launched with PesaPoint.Safaricom Financial Services General Manager Betty Mwangi-Thuo said…

South Africa Vodacom denies political pressure over BEE deal

Vodacom is not under political pressure and will ensure its multibillion-rand black economic empowerment (BEE) deal is truly broad-based. This is according to Vodacom group CEO Alan Knott-Craig, who says:…

Revenue streams for African Bloggers

"A serious blogger who is interested in making business can click to 'Linked In' site that is basically for business people, it has got a bandwidth of 178.51 MB, 2453…

GILAT ANNOUNCES SECOND QUARTER 2006 RESULTS

Gilat Satellite Networks Ltd (one of the larger satellite resellers in Africa) reported its results for the quarter ending June 30, 2006. Revenues for the second quarter of 2006 were…

SA’S JOHNNNIC CONSIDERS INVESTING IN NEW SECTORS

South African investment holding company Johnnic Holdings said this week it could branch out into new sectors after it distributed shares in its main asset, mobile phone firm MTN, earlier…

Uganda’s Failed Rural ICT Projects Eat Up U.S.$10 Million

Several rural communication projects that have so far used up more than Ush20 billion ($10 million) could fail with some districts complaining of huge maintenance costs. At a recent district…

Doubts grow over $2.5 bln Nigerian Nitel/M-Tel sale

Doubts surfaced over the planned $2.5 billion sale of Nigeria's former state telecoms monopoly on Thursday when China Unicom denied involvement in bidding in the African country's biggest privatisation. But…

Zambian president looks into Zamtel sale to Libya Controversy surrounds sale of stake to Libyan company LAP Green

Zambia's new president, Michael Sata, has formed a committee to investigate the controversial sale of the Zambia Telecommunications Company (Zamtel) to Libya's LAP Green Networks.The previous Zambia government sold Zamtel…

Ghana: 'Money Market' - Airtel and Rancard Build Online Store

Airtel Ghana, in collaboration with Rancard has launched a new online store dubbed "Airtel Money Market", an online portal aimed at providing additional channel for Airtel Money customers and merchants…

MTN '08 Net Up 44%; Continues To Target Growth

MTN Group Ltd, Africa's largest cellphone network operator, said last Thursday it expects to easily pass the 100 million customer mark this year as it continues to invest aggressively and…

Kenya: Govt in Dilemma Over Transfer of TEAMS Shares to Private Investors

The Kenya government is in a dilemma over how to transfer billions of shillings' worth of shares in the state-funded fibre-optic operator TEAMS Ltd to private companies when the multimillion-dollar…

On The Money - In Brief

- Celtel Uganda is to invest Ush70 billion ($40 million) in its network expansion project. The money will be sourced from a $40 million loan advanced by International Finance Corporation…

ACCESSKENYA’S IPO RECEIVES APPROVAL FROM NSE

AccessKenya Group shareholders approved the Group’s IPO plans at an Extraordinary General Meeting last week. The AccessKenya Group has been given approval to start receiving applications for shares in its…

On The Money - In Brief

- Transnet, South Africa's state-owned transport company, said it plans to sell R3.8 billion of preference shares in MTN Group as it focuses on its freight businesses.

On The Money - In Brief

- Vodafone Egypt will distribute a LE2/share cash dividend for the 120 million existing shares prior to the company.s recently conducted stock split - The Bureau of Public Enterprises (BPE)…

Egypt’s MobiNil reveals 8% net profit drop for 3Q 2009

Egypt’s largest mobile operator by subscribers, Egyptian Company for Mobile Services (MobiNil), has revealed an 8% year-on-year decline in net profit for the three months ended 30 September 2009. The…

South Africa: Innovative Festive Season Packages' Boost Pinnacle results

Pinnacle Technology thanked "a stable and stronger exchange rate, stable fuel prices and reduced interest charges" for a strong set of results for the six months to December, which saw…

MTN grows subscriber base 22% to 141.6 million in 2010; revenues increase 3%

MTN saw a 22% increase in subscribers, to 141.6 million, for the year ended 31 December.The company says it enjoyed a “satisfactory operational performance” for the year, despite being negatively…

HDS wants Africa stake

Hitachi Data Systems' proposed purchase of Shoden is a “natural next step”, says Niels Svenningsen, senior VP and GM of Hitachi Data Systems in Europe, Middle East and Africa. Japanese-based…

Ghana: 'Money Market' - Airtel and Rancard Build Online Store

Airtel Ghana, in collaboration with Rancard has launched a new online store dubbed "Airtel Money Market", an online portal aimed at providing additional channel for Airtel Money customers and merchants…

Savannah Fund Announces Its First Investment – biNu, A Platform That Brings Smart Apps To Dumb Phones

Savannah Fund, a seed investment fund focused on developing tech entrepreneurs in Sub-Saharan Africa today announced that it participated in a $2 million round into biNu, led by Eric Schmidt…

Nigeria’s Government Earned $8.42 Billion From Telecoms in 2008

Telecommunications in Nigeria grew 23 per cent last year, and fetched $8.24 billion, according to a report by Pyramid Research. Earnings are expected to climb 5.7 per cent to peak…

Zimbabwe’s new nationalisation law: the end of private ICT sector or a BEE-style programme?

Zimbabwean president Robert Mugabe's signature on the country's new nationalisation law has international business in a panic. However, South African companies with a Zimbabwean presence are staying on how they…

LIBYAN TAKES OVER UTL IN UGANDA

A Libyan company, Libya African Portfolio (LAP) Greencom has finally taken over Ugandan Telecom Limited, (UTL), after acquiring Ucom, the majority shareholder in Uganda's largest fixed line telephone operator. In…

CORRECTION:

ISSUE 163: AFRINIC NOT AFRISPA CHOOSES FOUR HOST COUNTRIES FOR AFRINIC BOT In this story, the body choosing the host countries was (of course) AfriNIC BOT, not AfrISPA as stated.…

Yahsat signs first service partner agreement for “YahClick” satellite broadband service in Africa

Star Satellite Communications Company PrJsc, a wholly owned subsidiary of Al Yah Satellite Communications Company (Yahsat) has signed its first service partner agreement for “YahClick,” Yahsat’s revolutionary satellite broadband service.…

On The Money - In Brief

-Vodafone Ghana has launched a new staff business slogan "The Vodafone Way", aimed at a significant shift in the work culture of employees and partners of the telecom giant to…

EU loan granted to Seychelles Cable Systems Company

The European Investment Bank (EIB) has provided a EUR8 million (USD11 million) loan to the Seychelles Cable Systems Company (SCS) for the installation and operation of the island nation’s first…

Valor IT escapes liquidation

A contract canned by trade and industry minister Rob Davies is at the heart of a legal wrangle between Valor IT and Blue Turtle.Valor IT has agreed to pay Blue…

Money News - In Brief

- The Rwanda Revenue Authority will launch an Electronic Sales Device (ESD) to counter fraudulent transactions and tax evasion by individuals. The device is set to be launched in June…

Barclays launches Pingit Mobile App in Kenya

Barclays on Monday launched Pingit in Kenya. Pingit is a fee free person-to-person mobile app for international money transfers between UK and Africa, beginning a new era of international money…

MTN Uganda eyes domestic takeovers after rivals' tie-up

MTN's Uganda unit is considering buying rival local telecom firms following the agreed merger of the country's No.2 and No.3 operators, its chairman said on Wednesday.Uganda has eight mobile companies…

Batelco closes in on Africa buy, sees flat profit

Bahrain Telecommunications Co (Batelco) plans to make an acquisition in Africa within six months, its chief executive said, and could spend almost $2 billion. CEO Peter Kaliaropoulos also told Reuters…

On The Money - In Brief

- The National Bank of Kuwait (NBK), the highest rated bank in the Middle East, has been assigned by Zain Mobile Telecommunications Company to manage the Group's 75 percent capital…

BLACK GROUP BUYS 7 PERCENT OF DIALOGUE IN SOUTH AFRICA

Call-centre specialist the Dialogue Group has sold 7% of its shares to black-owned media and communications group MSG Afrika Investment Holdings for R24m. This is the AltX-listed company's first step…

SOUTH AFRICA’S TELKOM ANNOUNCES INTENTION TO BECOME A REGIONAL PLAYER THROUGH ACQUISITION

South Africa Telkom has set in motion a process that could see it acquire astake in Kenya’s fixed line telecoms service provider, Telkom Kenya. Mr Sizwe Nxasana, the Chief Executive…

On The Money - In Brief

- Safaricom, has closed its Sh5 billion bond offer to the Kenyan market with a 50 per cent over-subscription. The company received applications for over Sh7.5 billion against the Sh5…

American Tower Closes Initial Purchase of Cell C Towers in South Africa

As originally reported last November, American Tower has now, through its local South African subsidiary, acquired approximately 960 existing towers from South African mobile network operator, Cell C for an…

On the Money News - In Brief

- Mobile operator Econet Wireless Zimbabwe has posted a 16% increase in net income in the first six months of its fiscal year 2011/12. After-tax profit reached USD74 million in…

Tanzania adopts online tool for investors

Tanzania has introduced an online tool to help investors and entrepreneurs gain easy access to up-to-date information on investment-related procedures, Tanzania's Daily News reported Friday (August 17th).The Tanzania Investment Centre…

Remaining assets of stricken Rwandatel now up for grabs

The remaining assets of liquidated telecoms operator Rwandatel are now up for sale, AllAfrica reports, citing lawyer Richard Mugisha, who is in charge of the administration process. In April 2012…

Safaricom confirms yu takeover progress; highlights possible Viettel arrival as a ‘game changer’

Safaricom, Kenya’s largest mobile operator by subscribers, expects its on-off joint acquisition of smaller rival Essar Telecom Kenya (yu) to be completed within a matter of months, at a cost…

Datatec issues trading updates in South Africa

Datatec, the international ICT group, is today publishing a year-end trading update for the financial year ended 28 February 2009. The financial performance of the group remains in line with…

GHANA FIGHTS FOR OUTSOURCING BUSINESS

Ghana has been working hard to have a business processing outsourcing (BPO) presence. In November 2005, Ghana commissioned Hewitt Associates of India to probe the country's key strengths and weaknesses…

On The Money - In Brief

- According to the Post, ZTE is tipped to be the favourite to take up the 20 per cent share stake in Zamtel. Currently, the bids are being evaluated. Sources…

Cell C raises €240m China loan for new network

Cell C has signed a €240m (R2.2bn) loan agreement with China Development Bank, according to a statement issued by a South African government delegation visiting China this week. The delegation…

Nigeria: IT Firm Invests U.S.$1.5 Million, Expands Lagos Centre

One of the Nigerian Internets Service Providers (ISP), Internet Solutions (IS) has announced further investment of 1.5million dollars (N225 million) with the expansion of its Lagos data centre and hosting…

Money News - In Brief

- 88mph-funded startup Tusqee Systems has launched an online application branded Sematime that enables users to send bulk SMS, bills and invoices. The application supports SMS branding, 480-character text message…

Emirates Telecommunication : Etisalat, IHS ink tower sale deal

Etisalat Nigeria, the local unit of UAE-based telecoms group Etisalat, has announced the sale of 2,136 of its towers to IHS Holding as part of a broader strategy to drive…

France Telecom Makes Fresh Bid to Settle Egyptian Dispute

France Telecom is reported to have made a new offer to buy all the shares in the Egyptian Company for Mobile Services (ECMS) in a new move to resolve the…

On The Money - In Brief

- MTN Congo has reached an agreement with a group of banks including Eco Bank, Credit du Congo and Banque commerciale internationale en République du Congo for a CFA Francs…

CRANE BUYOUT SET TO HOIST EARNINGS AT DATATEC SOUTH AFRICA

Datatec is splashing out R290m to buy Crane Telecommunications, a European distributor of voice and data communications services. The move will cost up to £20.7m and will be paid for…

FIRST PROFIT IN SIGHT AT LAST FOR CELL C

Cellular operator Cell C has grown revenue 34% in the past year and is finally within sight of making a net profit from its 2,9-million subscribers. For the first time…

ANGOLA'S MUNDO STARTEL SIGNS FDI AGREEMENT AND NGN IMPLEMENTATION WITH ZTE

Mundo Startel, a fixed line operator in Angola in which Telecom Namibia owns a 44% share, signed a foreign direct investment (FDI) agreement with the National Agency for Private Investment…

AFRICAN LAKES YEAR END RESULTS SHOW £5.4 OPERATING LOSS

According to the preliminary results announced last week:"Prior to exceptionals the Group operating loss is £5.4 million (2001: £3 million), the £2.4 million difference being primarily due to the £1…

MTN Has Announced R8.1bn BEE Plan

Telecoms company shares rose 94c on the news that its launching one of the countries biggest BEE offers called "MTN Zahkele" MTN says its Board has approved a proposed 8.1…

Money – In Brief

France Telecom's Orange has denied media reports by a French website that it secured its mobile operating license in Tunisia by means of corruption. The website claimed that although Orange…

MTN Group’s H1 revenue climbs 10.7% as results across Africa ‘improve’

Pan-African mobile operator MTN Group has reported its financial results for the first six months of the year, noting a strong performance from most operating units across Africa that helped…

South Africa’s Teraco Closes Series-B Financing Round

Teraco Data Environments (Pty) Limited , the first provider of vendor neutral co-location facilities in South Africa, has topped up its operating capital with a further R50-million in a successful…

Telkom Kenya Sold Within the Law, Says Minister

The Government is not involved in "mindless privatisation of strategic parastatals." Internal security assistant minister Simeon Lesirma said in Parliament on Wednesday that the Government off loaded its shares in…

On The Money - In Brief

- South Africa’s second national operator Neotel hopes to spend R230m taking over Transtel Telecoms' networking infrastructure. The in-principle deal is subject to the two parties reaching a full agreement…

BYTES READY TO SPEND ITS CASH HERE AND ABROAD

Solid results from Bytes Technology are laying the foundation for a year of strong acquisitive growth. The group plans to beef up its core skills locally and to expand abroad.…

ZIMBABWE'S TELEACCESS SUED FOR ZD1 BILLION BY ITS LANDLORD

Telecoms firm TeleAccess' financial problems have deepened amid revelations that it cannot even pay its rentals. The Daniel Shumba-owned company is being sued for failing to pay rentals for its…

On The Money - In Brief

- Communications minister Ivy Matsepe-Casaburri today said she agreed with the regulator’s recommendation that neither Goldleaf Trading nor Optis Telecommunications be awarded a stake in SA’s second fixed-line telephone company.…

R400m for Infraco network

Broadband Infraco, the state-owned infrastructure provider that is expected to launch commercial services within the next few weeks, pumped R407m into its network in the 2010 financial year, up from…

Ghanaians must own 30% of telecom service providers says Minister of Communications

Companies in the business of providing infrastructure services for telecom firms will now have to be partly owned by Ghanaians.According to a new directive from the Ministry of Communications, Ghanaians…

Telecom Restructuring in Shambles in Namibia

The Telecom Namibia branch of the Namibia Public Workers Union (Napwu) has demanded that the Minister of Information and Communication Technology, Joel Kaapanda, intervene in the restructuring of Telecom.The union…

Orange eyes Airtel's African assets - report

Orange has explored purchasing some assets in Africa including ones owned by Indian operator Bharti Airtel, as the company seeks to strengthen its business in Africa, Bloomberg reported, citing people…

Another Telecel blow for Mutasa

HARARE - Zimbabwe's High Court has dismissed businesswoman Jane Mutasa's bid to block the sale of Empowerment Corporation (Private) Limited (EC)'s 40 percent stake in Telecel Zimbabwe (Private) Limited (Telecel),…

Botswana’s beMobile invests USD9m in network upgrades

BTC Mobile, the cellular subsidiary of state-owned Botswana Telecommunications Corporation Ltd (BTCL) which trades under the name beMobile, says it invested BWP90 million (USD9 million) in its 2014/15 financial year…

Tunisian Telecoms Market to Reach $2.2 Billion in 2014

Tunisia's telecom market will be one of the fastest-growing markets in the Africa/Middle East region with total telecom revenue estimated to grow at a CAGR of 5.4 percent over the…

Increase in market share bolsters South Africa’s Huge Group's results

A rapid growth rate in the local managed telecommunications industry combined with a substantial increase in market share enabled AltX listed telecommunications company, the Huge Group, to post a strong…

SOUTH AFRICAN FARITEC BRUSHES OFF TARGET'S LEGAL WOES

Technology company Faritec's R54m acquisition of black-owned Enterprise Connection will not be affected by legal action that has been instigated against the target company. A notice issued by Faritec on…

On The Money - In Brief

- The First Africa bank has offered to finance a government bid of USD400 million for a 40% stake in Kenyan cellco Safaricom currently held by Vodafone of the UK.…

ONE DIAL WOULD INVEST INITIAL USD400M AS GHANA’S THIRD NATIONAL OPERATOR

One Dial Communications Limited, a network service provider, intends to invest over USD400 million in Ghana’s telecommunication industry if it is granted a license to operate in the country by…

Sambo Receives Report On Nitel/Mtel Restructuring: nearly 3,000 jobs to go

Vice President Namadi Sambo last weekreceived the report of the reactivated Presidential Task Force on NITEL/MTEL restructuring. Receiving the report at the State House, Abuja, the Vice President promised to…

Millicom/Tigo reports Q4-2010 results

Millicom International Cellular (MIC) has reported a drop in profit for the fourth quarter ended 31 December 2010, reflecting the absence of gains from discontinued operations included in results for…

Ecobank and Airtel Partner to Boost 'Mobile Banking' Service

Ecobank, a leading Pan-African banking group, has partnered with Bharti Airtel, to promote mobile banking across Africa. The service allows users to perform balance checks, account transactions, payments, credit applications…

Shortfalls catch up with ICASA

ICASA has been accused of being ill-equipped to properly manage major deals that could change the face of SA's telecoms sector. Two mega deals with the potential to alter SA's…

TNM completes Burco ISP acquisition

Telekom Networks Malawi (TNM), the country's second largest mobile operator by subscribers, has completed the acquisition of the internet service provider (ISP) business and related assets of Burco Electronic Systems,…

Orange Group CEO says MobiNil could offer stake on EGX or to local partner in 2016

French telecoms giant Orange Group has reportedly revealed that its Egyptian subsidiary MobiNil could offer a stake of between 10% and 15% on the Egyptian Exchange (EGX) in 2016. According…

CA South Africa A breaks free with EOH

CA Southern Africa has re-entered the technology sector under its new parent, EOH. The company announced it had entered into a partnership with EOH in late January, sparking fears that…

Vodacom's YeboYethu raises R946m

Cellular giant Vodacom has described its YeboYethu share offer as a “resounding success”, attracting 102,531 valid applications and being almost three times over-subscribed. The share offer, open exclusively to the…

On The Money - In Brief

- Investcom has announced that it has finalised the terms of its increased ownership in its Yemen and Sudan subsidiaries. Investcom agreed to acquire an additional 30% interest in Bashair…

CORRECTION:

Issue 265: LIBERIA's LTC GETS INTERNATIONAL BLESSING, RESUMES FULL SKILL OPERATION Apparently LTC issued a retraction of the press release on "return to full skill" in the local papers but…

ECONET LOCAL PARTNERS GIVEN MORE TIME TO COMPLETE KENYA LICENSING FINANCE

Mobile service provider, Econet Wireless Kenya (EWK), has been granted 30 more days to complete payment of its license fee. Sammy Kirui, the Director General of the Communication Commission of…

MOROCCO TO FLOAT MAROC TELECOM STAKE IN 2004

Morocco has launched an international tender to select an adviser for the flotation this year of a stake in state-controlled telecoms operator Maroc Telecom, a government minister said on Friday.…

ECONET NIGERIA’S CHAIR DENIES WANTING TO INCREASE HIS SHAREHOLD

The Chairman of Econet Wireless Nigeria (EWN), Mr. Oba Otudeko, has said that he harbours no ambition to increase his shareholding in the company in a letter to This Day.…

On the Money – In Brief

* The latest research by Unison Communications reveals that between 47% - 63% of government communication budgets are spent on cellphone communication. On average mobile rates are 50% more expensive…

Cell C sells stake in Virgin Mobile South Africa; new investor pledges substantial investment

South African mobile operator Cell C has sold its 50% stake in Virgin Mobile South Africa for an undisclosed sum, the Virgin Group has confirmed. The deal will see co-owner…

South Africa: Neotel Says On Right Track

South African telecommunication company Neotel from which Namibia's Telecom is disinvesting, says it has already sorted out its finances. It says it is now on course to attain earnings before…

evriPay offers online merchants in Kenya fast and secure eCommerce

Known for its focus on security, evriPay will allow Kenyan online merchants to accept Visa and MasterCard payments from anywhere in the world on their websites while benefitting from unique…

Vodacom Revenue Slides on Cuts to South African Mobile Fees

Vodacom Group Ltd., the mobile operator with the most subscribers in South Africa, said third-quarter revenue fell after the country’s regulator halved the fees it can charge rivals for using…

Multisource moves ahead with iBurst buy: report

Multisource has reportedly succeeded in its bid to acquire iBurst parent company, Wireless Business Solutions (WBS), according to a report.Convergence technology company Multisource has reportedly succeeded in its bid to…

Govt pushes for formal Orange, CI-Telecom merger

The Ivorian government has reportedly urged fixed line incumbent Cote d’Ivoire Telecom (CI-Telecom) and its sister company Orange Cote d’Ivoire to work towards a formal merger, citing the industry trend…

On The Money - In Brief

- IFC, a member of the World Bank Group, has provided a $90 million loan and mobilized an additional $70 million in syndications to help Zain Ghana expand its mobile…

Payfast aims to provide PayPal like services in South Africa

A number of local online merchants have started using Payfast - a PayPal like service making secure online payments possible using Internet banking (EFT). While credit cards are still the…

Bharti, MTN Deal Could Hit Legal Hurdle

The Indian telecoms watchdog has threatened legal action if the proposed deal between Bharti Airtel and MTN breaches India's foreign-ownership rules. But MTN's suitor is reportedly teaming up with its…

OLD MUTUAL UNIT, TATA IN LINE FOR WAREHOUSED 26% STAKE IN SA'S SNO

  Three bidders have been selected as potential buyers of a 26% stake in the second network operator , including Old Mutual Asset Managers and India's Tata Africa Holdings. A…

GHANA’S KAN DAPAH SAYS GOVT STILL IN DISPUTE WITH TELEKOM MALAYSIA

The Ghanaian government is still locked in conflict with Telekom Malaysia. Although it has indicated its willingness to pay USD50 million for the 15% of shares the company wanted to…

On The Money - In Brief

- SA PC group Mustek achieved an 18.6% increase in net profit for the year to 30 June despite just a 5.3% rise in revenue. The group has declared a…

Kenya: M-Pesa Clients to Access Visa ATMs

Registered customers of mobile phone money transfer service, M-Pesa, can now withdraw cash in any currency from Visa branded automated teller machines (ATMs) anywhere in the world. They can also…

Visa buys South Africa’s Fundamo for $110m

Global payments giant Visa is buying Cape Town-based Fundamo, a mobile payments company focused on emerging markets, for $110m in cash. Fundamo is privately held by a group of South…

Nigeria: Adlevo Capital invests in M-money service provider, Paga

Adlevo     Capital Managers, a private    equity    fund manager     focused on investments    into technology-enabled businesses in Sub-Saharan Africa last week announced that    it has completed an investment into the parent company…

Money - In Brief

 - Tanzania's Vodacom is offering hire-purchase deals on Samsung phones arranged with the CRDB bank.- Nigeria's Airtel is offering unlimited access to the WhatsApp OTT service for a fixed payment…

Eaton Towers acquires 3500+ Airtel towers

Independent telecoms tower company, Eaton Towers, will be acquiring more than 3500 towers from Airtel in six countries across Africa.For Eaton Towers, the acquisition is reportedly a major step towards…

On The Money - In Brief

­The Kenyan government has announced plans to scrap a law which had required foreign firms to have local partners if investing in the telecoms industry. Under the current system, any…

Call centres sector yields over USD 270Mn per annum in Morocco

Call centres sector in Morocco, which did not exist 8 years ago, generates a turnover of more than USD 270.3 Mn par annum, King's Advisor, André Azoulay said. Speaking at…

AFRICA ICT INVESTMENTS UNDER SCRUTINY

Investments in African ICTs have come under scrutiny lately as the World Bank offered to help fund several projects, and in one case this week was rejected. The moves coincide…

LIBERIAN GOVT FREEZES ASSETS OF TWO FORMER GOVT INVESTORS IN LONESTAR

The former Chairman of the National Patriotic Party (NPP), Cyril Allen says the National Transitional Government of Liberia (NTGL) has violated the Comprehensive Peace Agreement by freezing the assets of…

On The Money - In Brief

- ICT infrastructure and solutions provider, Datacentrix, has announced its annual financial results for the year ended 29 February 2004. The company says that revenue has decreased by 1% to…

South Africa’s Cell C completes a debt to equity swap

Shareholders of Cell C have slashed the company's debt by half, by converting a R6,4bn loan into equity, in a move that will improve the cellphone network provider's financial position…

Money – In Brief

Following directives given to commercial banks by the Central Bank of Nigeria to effect electronic payment system in the country, MasterCard, an international electronic payment company, has entered into alliance…

On the Money – In Brief

- According to Reuters, the Algerian government’s valuation of Orascom Telecom Algeria’s (OTA’s) local mobile phone unit, Djezzy, has been delayed by a disagreement regarding the disclosure of company data.…

Vodacom Tanzania to expand M-PESA services via network upgrade

Vodacom’s Tanzanian operating subsidiary intends to expand coverage of its popular money transfer service M-PESA to even the most remote parts of the country, by dint of the TZS130 billion…

Zantel defaults of USD96m loan, sources claim

Tanzania telecoms operator Zanzibar Telecommunication (Zantel) is facing a bank demand for the immediate repayment of a USD96 million loan after defaulting on its payments, according to a bond prospectus…

Cell C not keen on MTN, Telkom deal

South Africa’s third mobile operator, Cell C, will oppose the proposed mobile network sharing deal between Telkom and MTN.“Cell C has been asked to comment on the proposed transaction by…

Celtel Nigeria offers base station franchises for rural areas

Celtel Nigeria has launched a new local entrepreneur-ship project, Celtel Rural Acquisition Initiative (RAI), aimed at boosting rural business and connecting rural areas to the rest of the world. According…

DIDATA BUYS UP REST OF INTERNET SOLUTIONS

SA's largest technology company, Dimension Data (Didata), has consolidated its hold on the country's largest internet service provider, Internet Solutions (IS), by buying the 20% it did not own from…

On The Money - In Brief

- Lithalelanga Connections Holdings, a black-owned strategic investment enterprise, has acquired a 63% stake in Tecor Group, an IT solutions company with a R100 million annual turnover. Tecor, a previously white-owned…

TELECEL PLANS TO LIST ON THE LUSAKA STOCK EXCHANGE

Telecel chairman, Bwalya Chiti, has said Telecel Zambia Limited was charting a plan to list on the Lusaka Stock Exchange (LuSE). Chiti, said in an interview on Saturday, following the…

MTN Stake in Telecel Limited to 40 Percent in Zimbabwe

MTN Group Ltd, Africa's largest mobile phone company, can only buy not more 40 percent of Orascom Telecom Holdings' interests in Telecel Zimbabwe, officials said last Friday. One of the…

China will fund Kenyan Government’s local fibre roll-out

The Kenyan government has struck a deal with China for a Sh6.04 billion soft loan to fund the National Optic Fiber Backbone Infrastructure (NOFBI) and e-government expansion projects.Finance Permanent Secretary…

Essar settles dispute with KDN

Kenya mobile operator Essar Telecom has agreed to pay Kenya Data Networks (KDN) KES46 million (USD531,000), ending a court dispute between the two companies over unpaid fees for backhaul transmission…

Etisalat Drops Offer to Buyout Minority Shareholders in Maroc Telecom

UAE based Etisalat has cancelled its offer to buy out the minority shareholders in Maroc Telecom after securing a special waiver from the local stock exchange.Etisalat recently bought a 53%…

Blue Label Defaulters Make Amends in South Africa

The directors of Blue Label Telecoms and their wives, who were censured by the JSE for not authorising nor reporting their share trading timeously, said last week they gave the…

US PUBLIC SECTOR PENSION FUND THREATENS TO SELL ALCATEL SHARES BECAUSE OF ITS SUDAN PRESENCE

Alcatel has rejected a campaign by U.S. pension funds to stop selling communication equipment to Sudan, the troubled African country in which an estimated 300,000 people have been killed in…

SOUTH AFRICA: BEE GRIPE FAILS TO HALT VODAFONE-VENFIN DEAL

The R21bn investment into SA by the UK-based Vodafone was given the go-ahead despite a last-minute objection lodged with the Competition Tribunal by a little-known black empowerment grouping. The objection…

THE CELTEL PURCHASE OF KENCELL - THE STORY BEHIND THE DEAL

It all started in December 2003, when Naushad Noorali Merali, a Kenya businessman was in a reflective mood while on a pilgrimage to Saudi Arabia to pay tribute to his…

Egypt’s Financial Authority calls for more details on Orascom/FT agreement on MobiNil ownership dispute

Egyptian telecoms group Orascom Telecom has been given a week in which to provide further details to the Egyptian Financial Supervisory Authority (EFSA) of the recently announced deal with France…

MTN BEE deal popular

According to MTN there has been an overwhelming response to the MTN Zakhele public offer which opened to the Black public in late August. Transaction volumes recorded during the first…

France Telecom closer to acquire Congo Chine Telecom

The government of the Democratic Republic of Congo (DRC) has confirmed that France Telecom (FT) is the only bidder for its 49% stake in Congo Chine Telecom (CCT). Already in…

Rwanda: MTN, Bank of Kigali Extend Services to the Unbanked

MTN Rwanda and Bank of Kigali (BK), have entered into partnership to extend financial services to the unbanked population through mobile banking.The partnership is tailored to boost mobile banking services,…

Nigeria: Three prequalify for NITEL liquidation

Nigeria’s Bureau for Public Enterprises (BPE) has approved three companies to bid for the planned liquidation of ailing fixed line incumbent Nigeria Telecommunications (NITEL) and its mobile arm M-Tel. Local…

Vodacom cuts off iBurst for unpaid bills

Vodacom has terminated an SMS agreement with iBurst owner WBS, and cut off its SMS interconnect, after WBS failed to pay its interconnect bill. WBS, however, said that there was…

On The Money - In Brief

- MTN said last week it was selling 50% of its stake in Areeba, which trades as MTN Cyprus, for an undisclosed sum to local investors Amaracos Holding. - The…

MAROC TELECOM’S REVENUE UP BY 11.8%

Maroc Telecom first nine months revenues amounted to 17,083 MAD million, up 11.8% due to the strong momentum of all its activities. Third quarter consolidated revenues reached 6,195 MAD million,…

On The Money - In Brief

- Six companies have placed a bid to acquire a 35% stake in Tunisia's largest telecommunications carrier Tunisie Telecom. The partial privatisation of Tunisie Telecom estimated at around EUR1.5 billion…

On The Money - In Brief

- Nigeria: Chairman of Global Fleet, Barrister Jimoh Ibrahim said his next port of call is NITEL after he unsuccessfully sought to buy over VGC Communications Limited. But observers are…

On The Money - In Brief

- Vodafone-Egypt released audited FY04 results ending March, confirming its preliminary announcement of LE1,078 million net profit, reflecting a 111% increase over the LE511 million recorded in FY03. - Nigeria's…

Indian IT Firm Set to Invest in Rwanda and Uganda

The Institute of Hardware Technology, an information technology training company based in India is set to open in East Africa to plug the IT resource gap in the region. Mr…

Seedcamp chooses three South African startups for Seedcamp week

Seedcamp, the European micro seed fund that focuses on early stage startups has announced that it has selected three South African technology-startups to attend ‘Seedcamp Week’ in London from the…

Econet to Invest U.S.$300 Million in Network Expansion

Econet Wireless Zimbabwe says it will have invested an additional US$300 million on expanding and upgrading its network by February next year. This would take cumulative investment in mobile phone…

Kenya’s Government goes ahead with partnership to build out LTE infrastructure

The government expects consumers and smaller operators to benefit from the formation of a new private/public organisation that will build and manage Long Term Evolution (LTE) infrastructure, commonly known as…

Money News - In Brief

- The Zimbabwean fixed line incumbent TelOne has revealed that the amount it is owed in unpaid bills had reached USD211.4 million by the end of March 2012. The state-owned…

Etisalat shareholders give backing for Moroccan bid

UAE-based telco Etisalat has received shareholder backing to seek external funding to finance its bid for a 53% stake in Moroccan operator Maroc Telecom. Etisalat shareholders were asked to approve…

VODAFONE BUYS 51% OF RAYA TELECOM

Mobile phone operator Vodafone Egypt and telecommunications group Raya Holding are in the process of handing over company shares, after a contract sale agreement, says Jihan Mahmoud, senior marketing executive…

On the Money - In Brief

- In South Africa, a service launched by FNB in November enabling its customers to send money or make payments to anyone with a local cellphone number, has so far…

FireID gets R48m for global expansion

Local mobile security business FireID has raised €5m (about R48m) from Jersey-based capital investment firm 4D Innovative Capital (4Di Capital) International to help it expand internationally.FireID started in 2006 and…

Etisalat Intensifies Moves to Acquire Shares in Zain

Lagos — Mobile telecommunications giants, Etisalat, has updated its proposal to acquire certain shares in Mobile Telecommunications Company LLC ("Zain") to provide that the offer is binding subject to a…

Business Connexion Acquires Selected UCS Businesses

Business Connexion Group Limited and UCS Group Limited have entered into an agreement that will see Business Connexion acquire targeted UCS services businesses, thereby consolidating the Group’s dominance as an…

Orange said to be in talks to buy Business Connexion

Is French telecommunications giant Orange, the mobile subsidiary of France Telecom, buying JSE-listed IT services company Business Connexion (BCX)? Three separate industry sources, none of whom is employed by either…

Zimbabwe's Econet says full-year profit falls 16 pct

Zimbabwe's largest mobile telephony company, Econet Wireless, reported a 16 percent drop in full-year net profit, pulled lower by growing financing costs.Econet Wireless said net profit fell to $140 million…

Shareholders Approve Intercellular Deal in Nigeria

Shareholders of Intercellular Nigeria Plc have approved a 70 per cent majority acquisition stake from Sudatel, Sudan's incumbent operator. The shareholders according to a statement made available to THISDAY gave…

State to Offer R1bn Lure for Call Centres in South Africa

Government has earmarked R1bn in investment incentives over the next five years to lure international business services to SA to boost job creation and increase foreign direct investment. The plan,…

SAFARICOM MAKES $12.77 MILLION PROFIT, A RECORD FOR REGION

Mobile company Safaricom has posted the biggest profit ever in East Africa - Ksh 12.77 billion ($174 million) - edging out listed company East African Breweries Ltd from the position…

MTN’S ANNUAL FIGURES SHOW 26% REVENUE INCREASE OVER 9 MONTHS

The MTN Group has released its annual report for the year ended 31 December 2005. The Group recorded revenue of R27.2bn, a 26% increase on the nine months ended December…

  SOUTH AFRICAN FIRM PAYS GBP12.8M FOR ANALYSYS BUSINESS

   One of the world's leading telecommunications strategy consulting firms, Cambridge based Analysys, has been bought for GBP12.8 million by South African company, Datatec International, creating a totally new company,…

Indian firms do not confirm participation in Zain deal

A proposed consortium made up of India’s Vavasi Group, regional telecom companies BSNL and MTNL and a Malaysian investor is yet to decide on a deal to buy a 46…

Zaptronix in Make-Or-Break Deal

ALTX-listed technology group Zaptronix said last week it has agreed to acquire I to I Technology Solutions as a going concern for R6.6m. Zaptronix's survival hinges on the success of…

Safaricom Defies Rivalry to Return Sh7.6 Billion Half-Year Profit After Tax

Nairobi — Kenya's mobile phone giant Safaricom defied strong competition and regulatory pressure to report a 15.1 per cent growth in profit after tax for the half-year ending September 2010.The…

Etisalat to Raise U.S.$12 Billion for Zain

Etisalat has indicated its intention to raise $12 billion of loans to fund its bid for a stake in Zain. The United Arab Emirates largest telecommunication company in an agency…

Airtel Settles Interconnect Dispute with Uganda Telecom

Airtel Uganda has suspended plans to stop accepting inbound calls from Uganda Telecom following intervention from the government.Airtel has been in dispute with Uganda Telecom for some time over a…

Mergers, Acquisitions and Financial Results - In Brief

- Data services company AccessKenya has declared a 20 percent increase in net profit from Sh101 million in 2011 to Sh131 million for the year ended 2012.

Opera Buys AdVine To Expand Its Mobile Ad Network In Africa

Opera — the Norway-based company that develops data-compressed web browsers, app storefronts, and other cloud-based services for mobile and other platforms — has made another acquisition to build out Mediaworks,…

World Bank shifts focus to West African telecom

The World Bank has turned its focus toward telecommunications in eastern and southern Africa to West Africa, agreeing to set aside US$50 million for ICT infrastructure development, connectivity, skills development…

Intel Capital Targets African Continent

The world's largest chip manufacturer, Intel, is bringing its venture capital company to Africa to identify and fund promising technology companies. The first move for Intel Capital is to appoint…

MTN to shed R2.4bn Nigeria stake?

Market speculation is that MTN could shed some of its MTN Nigeria shareholding, selling 3.5% of its shares to wealthy Nigerian nationals by January next year. MTN holds 82% of…

Altech acquires minority interest in Altech NamITech

Allied Technologies (Altech) and Giesecke & Devrient (G&D), the German smartcard company, have concluded an agreement whereby Altech has acquired G&D's minority interest in Altech NamITech. Altech has acquired G&D’s…

On The Money - In Brief

- EMP Africa Management LP (“EMP Africa”) announced today that as of September 30, 2006 one of the Africa focused private equity funds it manages, the West Africa Growth Sicar…

KENYAN STATE PLANS TO SELL STAKE IN TELKOM BY APRIL 2007

The Government plans to sell its stake in Telkom Kenya by April 2007 through an initial public offering (IPO) on the Nairobi Stock Exchange by April next year. President Kibaki…

On The Money - In Brief

  -   Al–Mal newspaper reports that Orascom Telecom Holding is considering a LE1.6 billion bond issue to be concluded in September 2004. The probable bond issue would be split in…

Nigeria: Transcorp Loses Bid to Stop Resale of Nitel

A Federal High Court in Abuja on Thursday refused the request by Transcorp to stop the resale of 51 per cent shares of Nitel and its mobile arm, Mtel. Transcorp…

On the Money – In Brief

* JSE-listed telecommunications equipment and electronics company Jasco has made an offer to buy another fellow listed company, communications business Spescom. Jasco CEO Martin Lotz says the combination of the…

Vodacom mulls BEE mega deal

Vodacom is giving thought to kick-starting a new black economic empowerment (BEE) deal that estimates could be worth as much as R20bn.The JSE-listed telecommunications group is considering the option of…

Mustek leaps higher on delisting news

PC assembly and technology distribution company Mustek has surprised markets with its decision, announced on Wednesday, to delist from the JSE after 13 years on the local bourse.However, CEO David…

Money News - In Brief

- India’s ICT businessmen will tour the African continent in pursuit of new African ICT investment opportunities from 12 to 22 September 2011. The ICT businessmen will be visiting Nigeria…

Telecel Zimbabwe up for sale

VimpelCom intends to sell its shareholding in Telecel Zimbabwe and has invited bids from interested investors, the Herald reported.VimpelCom owns 60 percent of Telecel Zimbabwe, and the remaining 40 percent…

South Africa: Cell C Results Ignore Operating Losses

Unlisted cellular network operator Cell C has done its usual trick of issuing only positive trading figures, declining to disclose how much money it actually lost during the year to…

Recession watch – Nokia’s market share down in Middle East & Africa

Due to loss of market share in Iran, Nigeria and South Africa, Nokia’s Middle East and Africa region experienced the largest percentage drop in market share for of any of…

Telecom Egypt reports 16% boost to net profit

Telecom Egypt has reported that in the twelve months ended 31 December 2006 it generated EGP9.5 billion (USD1.68 billion) in sales, an 11% increase on the previous year’s figure. EBITDA…

ONE PERSON’S VIEW: ERIC OSIAKWAN ON OPEN ACCESS TO SAT

Since publishing the Open Access EASSy paper @ http://blogs.law.harvard.edu/eric/ (you must read it to understand the article below), I have been challenged on the viability of Open Access to SAT3…

On The Money - In Brief

- Egypt’s Orascom Telecom has posted a 45% increase in first quarter EBITDA as its group mobile subscriber base doubled year-on-year to more than 35 million. Revenues in the three…

ACTIS AND THE AIG AFRICAN INFRASTRUCTURE FUND INVEST US$43.2 MILLION TO ACQUIRE MAJOR STAKE IN STARCOMMS

Actis and the AIG African Infrastructure Fund (AAIF) managed by Emerging Markets Partnership (EMP) have invested USD43.2 million to acquire a major stake in Starcomms, Nigeria’s leading fixed wireless telecom…

 CORRECTION

  Issue 219: West Africa's first VoIP licence - now you see it, now you don't   Investcom is a multinational company. Its main holding company is in the Luxembourg…

KENYA’S TELKOM HAS NOT YET BEEN SOLD, SAYS MINISTER

The government has not found a buyer for Telkom Kenya. Transport and Communications Minister John Michuki said last week. A wrong impression had been created by the media that the sale…