On The Money - In Brief

Mergers, Acquisitions and Financial Results

- China, through its financial institution, "China Exim Bank", has granted Togotelecom 200 million Yuans (about US$ 30 million or CFA F 15 billion) for the modernization of its facilities and network improvement. With this money, Togotelecom will acquire, install and use telecommunication equipment via the local radio (last mile wireless) called "Illico". It will also enable the Togotelecom to extend its network in a bid to facilitate access by customers.

- In Zimbabwe, EconetWireless founder Strive Masiyiwa has struck a voting pool agreement with John Moxon which is likely to result in the termination of a two-year long marriage between the Nigel Chanakira founded Kingdom Financial Holdings Limited (KFHL) and Meikles Africa Limited that culminated in the formation of Kingdom Meikles Africa Limited (KMAL) in November 2007.

- Working smarter by finding more efficient ways to operate has allowed telecoms company TeleMasters to post a rise in all its most important figures for the six months to March. Revenue of R113m was up 38% from R82m and it retained R6,7m of that in net profit, up a healthy 43% from R4,7m a year ago. The rise in revenue was partly due to acquisitions made during the past few months, with further growth coming from concerted efforts to enhance its operating abilities.

- Moroccan fixed-wireless and 3G mobile operator Wana’s parent group, Casablanca-based diversified conglomerate ONA, reported that revenues from its telecoms services climbed 93% year-on-year to MAD578.8 million (USD70.6 million) in the first quarter of 2009 as voice traffic soared and internet sales grew 18%. Wana's turnover is set to leap when it launches GSM services later this year under a 2G licence it won in February.

- Kenya's mobile operator Safaricom has picked Barclays Capital, Absa Bank and Kenya's CFC Stanbic to arrange a 9-12 billion shillings ($116-$155 million) bond, the company said on Thursday. East Africa's biggest mobile phone firm wants to increase its debt to finance expansion and invest in data services.