On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Econet Wireless Nigeria reported that its half-year revenues to December were up 49% to NGN22bn (USD157m), while EBITDA was 37% higher at NGN10bn (USD71m) compared to the pervious year. Meanwhile, Average Revenue Per User (ARPU’s) generated from a mix of 97% pre-paid and 3% contract subscribers, were USD40. EWN’s balance sheet during the financial year was also strengthened by a NGN30bn (USD214m) medium term loan financed by local banks.