On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Pan-African cellular group MTN reported a 49% increase in turnover to ZAR52 billion (USD7.66 billion) in 2006. The rise was attributed both to organic subscriber growth and the acquisition of the Investcom group, which has operations across the Middle East. The group said customer numbers were up 73% year-on-year to over 40 million, including around 16 million in the South and East Africa region, 20 million in West Africa and around five million in North Africa and the Middle East.

- Black empowerment consortiums headed by Saki Macozoma and Nkenke Kekana have made it onto the shortlist of companies that will get a share of the R7.5 billion stake in Vodacom South Africa that is being allocated to black shareholders, sources close to the deal said.

- Huawei, the Chinese telco equipment manufacturer is planning to open an office in Mauritius. The unit will deal with all tenders for Sub-Saharan Africa.