On The Money - In Brief

Mergers, Acquisitions and Financial Results

- South African private operators may soon be competing for a multimillion-rand tender to take over government's national telecommunications networks to make them more efficient and cheaper to run. Telkom, the second network operator, Neotel, and Dimension Data are expected to vie for the business as the State Information Technology Agency (Sita) considers handing over its network to a private player.

- Efforts by the debt recovery committee floated by management of NITEL a few months ago has led to the recovery of over N3 billion from its debtors mostly Private Telecom Operators (PTOs), based in Lagos.

- Vodacom has announced plans to launch its own branded credit card next month.

The cellular operator said that it would offer the Vodacom credit card to its qualifying contract and top-up customers. The card will be issued under FirstRand Bank's licence and backed by Visa.