MERGERS, ACQUISITIONS AND FINANCIAL RESULTS
On The Money - In Brief
- Negotiations to potentially delist the Huge Group in South Africa have not distracted its managers from making another acquisition. The deal sees Huge pay an undisclosed amount for African Paradigm Communications, which trades as One Communications and VoCall. It provides least-cost routing services, which save money on corporate phone bills by diverting calls on to the cheapest available network..
- Anabel Group, the parent company of Anabel Mobile, one of Nigeria's Smart phone and other telecommunications equipment manufacturers, has signed a mega Initiative with the electronics members of Alaba international market. Under the terms of the arrangement, the deal provides Anabel brand, the opportunity to make major inroad into the Alaba market as well as it gives it the responsibility to globally expose Alaba market to the world.
- Mmobile Telecommunication (MTech) launched the first mobile phone manufacturing plant in Lusaka in Zambia at a cost of US$10 million. The plant, wholly owned by locals and supported by the government and the Japanese International Cooperation Agency, will create 200 jobs for among others engineers and technicians.
- Cisco will open its first office in Tunisia, on April 8, 2009.
- Telkom South Africa has extended its contract with strategic branding consultancy Interbrand Sampson for a further two years.
- Construction of a multi-billion shilling information technology park in Kenya is set to start in July. The government has appointed a lead transaction adviser and set aside 5,000 acres of land in Athi River for the project, which is expected to employ 10,000 people.