Money – In Brief

Mergers, Acquisitions and Financial Results

- FNB bank announced that it is seeing a rapid uptake of cellphone banking in Africa. The bank has recorded year on year growth of 376% in Zambia, 277% in Botswana; 204% in Namibia and 473% in Swaziland.

- Kuwait's Zain has announced that it has received the final tranche of US$700 million from Bharti Airtel as part of the sale last year of Zain's African networks to the Indian company.