Togo sets up new holding company Togocom
21 July 2017
The government of the tiny African state of Togo has announced the formal transformation of state-owned Togo Telecom Group into a new holding company, Togocom, with share capital of XOF1 billion (USD1.75 million).
Under the reorganisation, fixed telephony operator Togo Telecom and mobile arm Togo Cellulaire (Togocel) have been merged into the new entity, but will lose some of their former responsibilities, while a new service-led unit – to be responsible for all convergent and innovative offers (voice and Internet, fixed and mobile) for residential and business customers – has also been established, initially under the temporary banner Togo ServiceCom.
Further, the government is setting up two more subsidiaries: Togo InfraCom, which will be mainly responsible for long term investments and for the construction and operation of fixed and mobile infrastructures; and Togo InstalCom, which is responsible for the installation, repair and maintenance of equipment. Each of the registered units has a share capital of XOF500 million.
Source: All Africa