On The Money - In Brief

Mergers, Acquisitions and Financial Results

- The Kenyan Government has allowed ZTE and Huawei which were awarded contracts to build its terrestrial fibre optic network to borrow money they need for the job. The third company, Sagem, also from China, is however expected to sign a different agreement with the Government.

- Investors hoping to buy a stake in Kenya's company Safaricom may have to wait until the first quarter of 2008. The Safaricom CEO maintained that while it may be possible to start the process before the country gets into intense electioneering, it would not be possible to close the offering within the stipulated regulatory time frame.

- Afnet, one of the major ISP in Côte d’Ivoire has bought Comete, the ISP arm of the SIFCA/SIFCOM group. This sale will enable the group to refocus on its core activity in the food industry.