Money – In Brief

Mergers, Acquisitions and Financial Results

- Business process outsourcing (BPO) services provider, Aegis BPO Holdings SA, has announced its investment in South African BPO start-up, Iningi Investments. The investment will see Aegis provide assistance worth over R1.5 million in the next three years. The deal will see Aegis BPO Holdings SA invest up to R500 000 per annum in the 83% black owned SME, with the explicit goal of assisting the company to grow and employ at least 100 employees and achieve sustainable maturity during the period.

- Movitel, a consortium that was granted the third mobile telephony license in Mozambique, plans to invest US$465 million over the next five years, a representative of one of the shareholders said Thursday in Maputo. The consortium, which was the winner in ºOctober 2010 of the international tender for a third mobile operator’s license in Mozambique, is majority-owned by Vietnamese company, Viettel Telecom, with 70 percent, by SPI Gestão e Investimentos, a stake-holding company linked to the governing political party in Mozambique, Frelimo, with 29 percent, and by a group of investors known as Invespark, with 1 percent.

- MTN Rwanda, the country's leading telecom company by market share, has said that its revenues dropped, last year , on account of increased competition in the sector. “Our revenues suffered because of the way the market was behaving with the advent of competition and the tariffs, promotions they brought on board; it was difficult to realize the revenues..," Andrew Rugege, MTN's Chief Operations Officer (COO),told Business Times.