On The Money - In Brief
- South Africa’s Allied Technologies Limited (Altech) announced remarkable half-year results for the period ended 31 August 2008. Revenue increased by 13% to R4.5 billion, the company’s operating profit increased by 34% to R409 million and headline earnings per share was up by 19% to 261 cents. Altech Chief Executive Officer, Craig Venter commented that the company’s continued strong balance sheet and net asset value of 1 974 cents underpinned the group’s expansion strategy, with notable progress in several areas having been made during the half-year, particularly in Africa.
- The Zain Group, which operates mobile telephone services in 22 countries in Africa and the Middle East, has raised US$4.49 billion in new capital with 99% of all shareholders subscribing. The $4.49 billion exceeds all expectations, given the gloomy trends that have recently dominated local and international markets and resulted in sharp declines in the prices of oil and financial markets.
- Namibia Post and Telecom Holdings (NPTH) Group paid out dividends of more than N$36 million to the Government for the financial year 2006/7.
- Black investors have applied for three times the number of shares that Vodacom has earmarked for them in a public offer that forms part of its R7.5bn empowerment deal.
About 100000 people applied for the 14,4-million shares on offer. That was double the 50000 individuals outgoing CEO Alan Knott-Craig hoped to attract.
- Jobs have grown by 30 Percent in Western Cape Call Centres. These are the results of an industry survey by Calling the Cape, the province's contact centre and business processing outsourcing (BPO) development agency, and Deloitte. The economic effect of the sector in the province was estimated at R2.5bn and employment in the industry had risen from 6500 in 2003 to more than 27000. More than 30% of this growth in jobs had come from 30 new investment deals to the value of more than R750m including investments from companies like Barclays, Shell, the Dialogue group, Australian technology company iiNet and major US-based global outsourcing company Teletech.
- IT solutions and services provider Dimension Data has acquired a 51% stake in Sistemas Redes e Communicações (SRC), an Angolan-based IT solutions company.
The acquisition marks the launch of Dimension Data Angola, with its offices based in Luanda.