On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Telecom Namibia will launch a Black Economic Empowerment (BEE) procurement policy to take a proactive approach in redressing socio-economic imbalances in the country, the company announced.

- The Development Bank of Southern Africa (DBSA) is to contribute USD13.5 million to support a large-scale network infrastructure development project by Celtel Zambia. The five-year project aims to increase access to mobile telephony services in Zambia, by expanding Celtel Zambia’s network to over 100 towns that currently do not have access to telephones. An estimated USD105 million will be spent on phase one of the network expansion project alone.