On The Money - In Brief

Mergers, Acquisitions and Financial Results

- 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 billion that had been put on offer. This amount represents the first tranche of a Sh12 billion bond programme the firm has put together.

- Fitch Ratings has assigned Telecom Namibia an International Long-term local currency Issuer Default Rating of 'BBB-' and a National Long-term rating of 'A(zaf)', both with stable outlooks.

- MyBroadband recently received information that South Africa’s SNO Neotel is in ‘serious financial trouble’, caused partly by unsustainable pricing models. Neotel is however denying any financial problems, saying that the company is in good financial health. Neotel said that their current pricing models are sustainable, but declined to answer any questions as to whether their NeoConnect and NeoFlex product ranges are profitable.