On The Money - In Brief

Mergers, Acquisitions and Financial Results

- 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% of the cost to build the infrastructure to connect Namibia to the West Africa Cable System. MTC's investment translates to 2.1 % of the total investment in the project.

- Bharti Telesoft, a provider of integrated VAS solutions for mobile operators in emerging markets, has announced the launch of its new name, ‘Comviva’, and its new company name-Comviva Technologies Limited-accompanied by a company-wide re-branding initiative to present a unified approach to the market.

- According to the Financial Times, Vodafone’s plan to raise its stake in Vodacom has met an unexpected delay as the Communications Workers Union has announced its intentions to block any further sale of shares through the high court. The union is concerned that the UK-based group will use the global economic crisis as an excuse to cut jobs.

- Zimbabwe mobile operator, Econet Wireless is throwing the gauntlet at Old Mutual, a insurance and pension giant and wants it to decide whether it wants to continue to be a key shareholder in Zimbabwe's largest telecommunications company.

- Advertfarm, a mobile content network, has emerged from private beta. This start-up is privately funded and based in Lagos, Nigeria. Advertfarm, as a stand-alone company, focuses on delivering mobile contents to users across Africa through Short Message Services (SMS). Our services include but not limited to SMS marketing, SMS Recruitment, Events Broadcasting, Sponsored Mobile Services and Mobile Alerts.