On The Money - In Brief
- Zain Kenya has announced a major investment to improve its infrastructure. The company said it would spend Sh3 billion in the next three months on upgrading its network especially in the rural areas. Managing Director Rene Meza said the investment was part of the firm's Sh25 billion capacity upgrade project running for the next two years. He said the initial phase of the project will see the company scale up coverage and capacity across the country.
- South African social media aggregator startup Afrigator.com has sold a majority stake to MIH Print Africa, a division of the Naspers group. Afrigator Internet was founded in April 2007 as a social media aggregator and blog directory built for African consumers. www.afrigator.com uses social media tools and technologies to showcase the best digital content that the African continent has to offer, ranging from syndicated news feeds to blog posts, podcasts, videos and images.
- Prospects are looking increasingly bright for Dark Fibre Africa, with the cable-laying company selling a 10% stake in its business to Absa Capital and raising an additional R950m in loans. Dark Fibre has been bubbling away in the unglamorous part of the telecoms sector that involves digging up roads and laying cables in South Africa. Its prospects have been multiplied by a court ruling last month that said every voice and data carrier licensed to offer value added services had the right to build its own infrastructure.