On the Money – In Brief

Mergers, Acquisitions and Financial Results

- Dimension Data ( Didata ) has announced that Nippon Telegraph and Telephone Corporation's (NTT's), proposed £2,1bn offer to acquire all its assets had been unconditionally approved.

- In Kenya, Paystream, has announced that it will provide a central financial transaction interface for card and cash dealings, and the retailers' point of sale (PoS) terminals through the use of wireless telecommunication networks.

- Kuwait's Zain has reported a 411% rise in its nine-months profits thanks to the one-off gain from the sale of its African networks to Bharti Airtel. Also of note is the Sudan operation, which recently achieved a major milestone in attaining its 10 millionth customer.

- Vodafone has signed agreements in Egypt to increase its outsourcing of services to the country. The first of three agreements will double the current 1,200 workforce and provide services to Vodafone operations in the UK, Germany, New Zealand, and Qatar. Vodafone Egypt. A second agreement provides that Vodafone International Services shall expand its ICT Specialist Center through appointing 230 new specialists. As to the third agreement, it states that Vodafone International shall establish a new R&D center (KPO & Analytics R&D) in which 100 Egyptian youths specialized in this field shall be working for Vodafone Global Enterprise.

- Technology firm Datatec will spend 14,2m to buy the 2,6% that it does not already own in Westcon Group. Westcon distributes networking and communications technologies. It is Datatec's biggest subsidiary, contributing 76% of the total revenue of 3,74bn in the year to February. Datatec owns 97,4% of Westcon, with the rest held by Routine Capital, owned by an unnamed director of Westcon. Datatec will pay 2,375m in cash and a loan of 11,877m.

- Safaricom is in talks with Central Bank of Kenya to revise limits imposed on mobile electronic money transfers. Chief executive Michael Joseph says the ceilings should be revised upwards to enable customers make larger mobile phone payouts. "The upper limit per transaction through M-Pesa will increase from Sh35,000 to Sh50,000 while the lowest amount one can transact lowered further," he said.

- British telecom giants, Vodacom has pledged to pump in US$75 million in Zambia's communication sector. The amount is to be invested in setting up a submarine optic fibre system in the southern African country. Vodacom CEO Wally Beelders said the optic fibre will expand Internet service provision across Africa.

- Barclays Bank account holders can now withdraw or deposit money using M-pesa, a Safaricom money transfer service available in Kenya.