On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Algerie-Telecom will issuefrom 17 September to 17 October 2006 a 20 billion dinar public bond (nearly US$350 million), the company's chairman, Slimane Kheirdine, announced. The issue of bonds is intended to the public, to artificial and natural persons, including financial institutions, he explained in a news conference conducted in the presence of Posts and ICT Minister Boudjemaa Haichour, and Mobilis (Mobile telephony operator) chairman, El Hachemi Belhamdi.

- The World Bank Board of Executive Directors has approved US$10 million International Development Association (IDA) grant to the Government of Rwanda to install modern systems. The grant will help establish and equip ministries and district offices with a standard suite of Information and Communications Technology (ICT) infrastructure such as computers, printers, telecommunications and internet access and support services, enabling them to take full advantage of ICTs via the E-Rwanda Project.

- Kenya’s government says it expects to have sold a further 9% stake in mobile operator Safaricom before April 2007. The government has a 60% interest in Safaricom which is held via the state-owned fixed line operator Telkom Kenya. It is selling off a 9% share in order to raise funds to help with Telkom’s restructuring.