On The Money - In Brief

Mergers, Acquisitions and Financial Results

- 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 telecommunications network and address the country’s growing demand for affordable communications services.

- Supplier of prepaid telephone cards in Africa, Nasuba Express has said it is set to launch yet another new product for her African market tagged "Nasuba Express card."

The Nàsuba Express Card is a prepaid and rechargeable bank card for payment and international withdrawals.

- Warid Telecom is to invest $10m (about sh20b) in the extension of power lines to all its masts across the country. The investment also involves the construction of perimeter walls around the masts; a move top officials said would cut the company's costs by up to 30% in the long-run.

- Econet Wireless, Zimbabwe’s largest telecoms operator, has reported a strong improvement in performance due to its accelerated drive to sign on new subscribers.

While full disclosure would only be given at the end of the half year to August, CEO Mr Douglas Mboweni reported stronger than expected airtime usage. This has driven monthly turnover significantly above the January and February levels. With the accelerated growth in subscriber numbers, turnover is expected to continue growing, he said.