Internet News - In Brief
- Moneynet, an international money transfer service, has begun to consolidate on its record success by signing on more banks, adding more services to the users and generally expanding its operational network. National Bank of Nigeria Limited was leading in operating the MoneyNet since early last year but the proprietary owners of the technology, Della & Associates Incorporated of United States and their Nigerian technical partners, Broadband Technologies Limited, said that a major bank with expansive branch network in the South-Eastern part of the country has just been signed on to operate the services.
ARIVIA.KOM PLANS TO 'CONQUER AFRICA'- "INFATUATED WITH DOMINANCE"
Arivia.kom, which last week reported a 141% increase in full-year net income, says it wants to expand from its South African base and "conquer the entire continent", writes Iain Scott of ItWeb.
New contracts include a driver’s licence system for Namibia, traffic information systems for Malawi and Zambia, a motor vehicle registration system for Tanzania and a national social security fund system and police identification system for Uganda. Arivia’s stated intention is to be the dominant information and communications technology solutions provider in Africa. "We are infatuated with dominance," Malele says.
Revenue for the year to end March rose from an annualised R1.21 billion to R1.52 billion, while earnings before interest, tax, depreciation and amortisation increased from R127.26 million to R173.43 million.
"The revenue performance indicates that we have feverishly been looking for opportunities out there," Malele comments. Net income soared from R26.94 million to R65.02 million.The group has a good base from which to fund its expansion plans, with R118.23 million cash on the balance sheet.