Money – In Brief

Mergers, Acquisitions and Financial Results

Following directives given to commercial banks by the Central Bank of Nigeria to effect electronic payment system in the country, MasterCard, an international electronic payment company, has entered into alliance with InterSwitch, aimed at providing a single payment card known as MasterCard-Verve.

Plans are underway for government to sell its shares in MTN Rwanda by the end of this year, Business Times has learnt. The move is part of the government's broader strategy to divest from companies it owns shares in to facilitate development of capital markets and increase alternative sources of long-term capital for businesses.