Nigeria to benefit from Bharti’s $1bn new Africa investment

Nigeria to benefit from Bharti’s $1bn new Africa investment

Investing in Africa an act of faith: Manmohan Singh

Investing in Africa an act of faith: Manmohan Singh

Vodafone might reduce its presence in the Middle East and focus on India and Europe.

During the TMT Finance Middle East 2010 conference last month, it was stated that the total value of deals in the Middle East and Africa could reach US$30 billion (Dh110.18bn) this year.

Vodafone said it might reduce its presence in the Middle East to focus its activities on Europe, sub-Saharan Africa and India.

The first concrete step in this direction was Vodafone’s recent discussions with Telecom Egypt, which was interested in buying Vodafone’s 55 per cent stake in Vodafone Egypt.

While these discussions did not lead to a formal offer, they showed Vodafone’s willingness to eventually divest its stake.

CEO Challenges in North Africa Telecoms

CEO Challenges in North Africa Telecoms

Vodafone CEO: Bharti-Zain deal, good for mobile subscribers

Vodafone CEO: Bharti-Zain deal, good for mobile subscribers

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The Nigerian economy grew by 6.9% on telecom industry growth

This is 6% over the previous year’s results, said the agency in a statement. According to the statistics, non-oil industries expanded 8.6%, while oil and gas contracted 1.2%.

Crude oil production, accounting for 80% of national revenue, dropped due to various attacks by militants, cutting Nigeria’s output by more than 28%

ZICTA: Too many foreign telecom firms in Zambia

There are many foreign telecom firms in Zambia

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China Unicom reverses position on purchase of NITEL stake

China Unicom reverses position on purchase of NITEL stake

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Ghana embarks on ambitious ICT project

Ghana embarks on ambitious ICT project

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Chevron Nigeria Limited says it is investing $3billion or N444 billion in Nigeria

Chevron invests N444b in Nigeria

Maroc Telecom posts $1.14 billion in net profit

Maroc Telecom, a unit of French media giant Vivendi SA, late Monday said its 2009 net profit fell 1%, reflecting financial costs,but forecast moderate revenue growth in 2010.

Net profit fell to 9.43 billion Moroccan Dirhams ($1.14 billion) as the company recorded MAD147 million in financial expenses. In 2008 it had booked MAD394 million of financial income.

Maroc Telecom is a 53% subsidiary of Vivendi, with operations covering mobile, fixed-line and Internet access services.

Maroc Telecom - Vivendi

Mark Allegretti - Role of Private Equity

Compared to other emerging markets, Africa is less penetrated by private equity and other forms of private investment and the factors above continue to ...
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The New Generations Telecoms buys NITEL for $2.5b

AFTER a rigorous bid which saw five consortia, jostling for the soul of Nigeria’s first National Telecommunications carrier, NITEL, the New Generations Telecommunications Consortium, yesterday, emerged winners of the new NITEL with a bid of $2.5 billion.

New Generations Telecommunications Consortium is the former Telefonica. The consortium included China Unicom (Hong Kong) Limited, Minerva Group of Dubai and local company GiCell Wireless Limited. Announcing the result of the bid, BPE’s Head, Public Communications, Mr. Chigbo Anichebe, revealed that Brymedia Consortium bided $551million for the whole of NITEL, while MTN Nigeria offered $25million for SAT-3 only.

European bank bids for three bailed-out banks

European bank bids for three bailed-out banks

The Trend to Watch in 2010: Mobile Operator Network Sharing

Mobilserve, leading Telecom Infrastructure Solutions Provider Sees Network Sharing as Key Growth Driver for Region's Mobile Operators.

Mobilserve, the region's leader in turnkey telecommunication infrastructure solutions and engineering services, predicts strong growth for mobile operators fueled by growing demand for data and 3G services. Subscription rates are forecast to grow substantially in the coming years, with Egypt emerging as the second fastest growing market in Africa.

Standard Chartered Private Equity Invests $47.5m in Seven Energy

Standard Chartered Private Equity Limited has announced that it has invested $47.5m to acquire a minority stake in Seven Energy, a leading Nigerian gas exploration and development company. Seven Energy was formed in 2007 and is focused on the provision of gas to leading industrial firms in Nigeria.

Standard Chartered’s investment will aid in the development of Seven Energy’s business and toughen its competitive positioning. The use of funds will provide a much needed spur for the company to provide to Nigeria’s growing energy needs.

Private equity group, Abraaj Capital, has raised $375 million from existing shareholders via rights issue or cash call

The Dubai-based buy-out firm will be using the proceeds from the sale to invest in real estate and small businesses starting early 2010.

Abraaj is setting up a $500 million vehicle to invest in regional commercial real estate and a $200 million fund to invest in small and medium-sized enterprises. The firm is also looking at aviation, logistics, education and healthcare sectors in Egypt, Saudi Arabia and the UAE for expansion.

The Nigerian Electricity Regulatory Commission awarded a generating license to Dangote Industry Power Ltd.

Dangote plans to generate 135 megawatts of electricity at the proposed plant out of which 46 megawatts will be consumed by its Obajana Cement plant in the central Nigerian state of Kogi. The remaining 89 megawatts will be sold to the national grid.

The regulator has granted 29 licenses to companies to produce power to boost generation to 6,000 megawatts by the end of this year and 10,000 megawatts by 2011.

Dubai-based private equity firm Saffar Capital is launching a private equity fund

The fund will focus on financial services in the Middle East to take advantage of an improving outlook in the sector.

The fund is the first to be launched by Saffar, which specialises in taking stakes in private equity financial services firms in the region.
Private equity investments are increasingly finding favour in the frontier markets of the Middle East and Africa, as investors once more chase yield in a global environment of low interest rates.

AVCA 8th Annual Conference to be held under auspices of Egypt's Ministry of Investment

Investors and fund managers descend on Cairo for the African Venture Capital Association's (AVCA) 8th Annual Conference, which is due to take place here in Cairo on 15th - 17th of November. The prominence of the conference is such that it will be held under the auspices of Egypt's Ministry of Investment.