On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Bahrain-based Bintel plans to invest $250m to increase its presence in Africa and at least three new markets over the next two years as part of its future expansion. Established in 2007, Bintel, whose Middle East offices are located in Bahrain, Dubai and Lebanon, has already built a presence in Africa, operating GSM networks in Central African Republic and Somaliland.

- MTN Nigeria is expecting to invest at least US$1.5 billion on its network during this year to boost its carrying capacity. Corporate Service Executive, MTN Nigeria, Wale Goodluck, told The Punch newspaper that the planned investment was a calculated effort by the company to improve on the quality of service on its network.

- The number of listed stocks under the Information Communication and Telecommunications sub sector at the Nigerian Stock Exchange (NSE) has gone up to four, as IHS Nigeria Plc 4.4 billion shares became the first company to be listed by way of introduction this year. IHS is a telecommunication infrastructure service provider established in 2001 with the target of providing support services to the Nigerian growing telecom sector.