On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Mauritius Telecom, a 40%-owned subsidiary of France Télécom, reported net profits of USD52 million in 2005, up 19.3% year-on-year, officials said in a statement. The group’s mobile arm Cellplus Mobile Communications reported a 13% rise in revenues to USD67.8 million on the back of a 15% increase in subscriber numbers to 438,000. Its internet unit Telecom Plus recorded a 2% increase in turnover at USD13.9 million, and reported 8,300 users at the end of the year.

- Standard Trust Bank Ghana Limited has launched the ‘TextMe Cash’ service, a mobile phone transfer money product. The TextMe Cash product has a maximum transaction sum of ¢10 million per day whiles the minimum is ¢15,000 with a transaction fee of ¢10,000. The product is dominated in cedis and transfer could be sent from Areeba and Tigo mobile networks.

- Swift Networks Limited, a high-speed Wireless Broadband Access services provider, has announced a transaction with Capital Alliance Private Equity (CAPE) II, the private equity fund managed by African Capital Alliance, to accelerate the rollout of a portable, plug-and-play WiMAX-class broadband access network based on the WiMAX (IEEE 802.16e) standard in Nigeria.