On The Money - In Brief

Mergers, Acquisitions and Financial Results

- In South Africa, TeleMasters, announced that it has acquired Marketel with a view to expand in the communications management sector. Marketel has a licence to provide value-added network services and is a Wasp -- wireless application service provider -- supplying mobile content to Vodacom and Cell C.

- Zimbabwe’s Lonzim investment company has acquired Paynet, a technology firm, which mainly develops electronic payments solution to banks to move payment transactions more efficiently from corporate end users into the banking system. The group said the deal for Paynet had been concluded on March 5 for US$3.187 million.

- BusyInternet, an ISP and a member of the infoDev Global Network of Business Incubators, will host the Toolkit in Ghana. The project will be launched in the firsrt half of 2008. Estelle Sowah, BusyInternet’s Managing Director, said, “Small businesses account for the bulk of the private sector in Ghana, yet their success rates are not as high as they should be because of poor access to good business management practices. The SME Toolkit will provide Ghanaian businesses with information and the new collaborative technologies they need to help them grow and prosper.”