Mergers, Acquisitions and Financial Results

- The Board of Directors of the African Development Bank (ADB) approved a US $ 50-million senior loan under its private sector window in support of a Regional African Satellite Communications Organization Members (RASCOM) Telecommunications Project. The RASCOM project involves the construction and launch of an earth-orbiting satellite system to provide point to multi-point telecommunications services throughout Africa.

- Togo Telecom has secured a 6 billion CFA francs (US$12 million) guaranty from the FAGACE (Fonds Africain de Garantie et de Cooperation Economique) in order to raise a further US$48 million on the regional stock exchange. The money will be used to finance the telco’s expansion plans.

- Mobile Telecommunication Network (MTN), new owners of the Areeba mobile network in Ghana, will soon launch a Foundation to streamline its corporate social responsibility activities in the country.