IMImobile has been picked to provide technology and services to emerging markets telecommunications company MTN Group Ltd.

IMImobile has been chosen to help MTN standardise its mobile phone and online content in 21 markets in which it operates.

IMImobile said the deal was "a major commercial milestone." Financial terms weren't disclosed.

IMImobile is Venuture Capital firm Spark Ventures PLC biggest holding. It has a 38% stake in the company with a book value of GBP13 million.

This Deal will see IMImobile help South African operator standardise mobile, online content.

South Africa's Treasury will provide electricity utility Eskom with loan guarantees of 175.97 billion rand

CAPE TOWN (Reuters) - South Africa's Treasury will provide electricity utility Eskom with loan guarantees of 175.97 billion rand over the next 5 years to help it raise funds for spending requirements.

The Treasury said in its 2009 Budget Review, released on Wednesday, that the guarantees were in addition to a 60 billion rand, three-year direct loan to the company announced last year.

Eskom , which is battling to meet growing demand, plans to spend 343 billion rand over five years to boost capacity but a global credit crisis had raised borrowing costs making it different for the company to raise finance.

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South Africa invests $16 billion to create jobs, cut poverty

South Africa will invest an additional 161 billion rand over the next three years to create jobs and reduce poverty as the effects of a global financial crisis weigh on the economy.

The government has allocated 25 billion rand to provinces to expand no-fee schools, reduce infant and child mortality and improve welfare services.

The government will concentrate on its expanded public works programme to try and rein in mounting job losses, mainly in the mining and manufacturing sectors, where shrinking exports and lower commodity prices place tens of thousands of jobs at risk.

The government will spend 4.1 billion rand on the public works programme and an additional 7.9 billion rand for housing and municipal infrastructure.

A further 5.4 billion rand will go to improve the criminal justice system and increase the number of police officials from 183,000 last year to over 204,000 in 2011/12.

S.Africa ramps up spending to fight slowing growth

CAPE TOWN (Reuters) - South Africa ramped up spending in its 2009 budget and cut taxes to counter a global slowdown and boost an economy seen limping to its lowest rate of growth in more than a decade.

Finance Minister Trevor Manuel also delayed the introduction of mineral royalties until next year as miners struggle amid falling commodity prices and easing global demand.

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South Africa Telkom bought 25 percent of Nigeria Multi-Links for $130 million

South Africa's biggest fixed-line phone operator Telkom had bought the 25 percent of Nigerian firm Multi-Links it does not own for $130 million, the company said on Thusrday.

Telkom said it bought the private telecommunications operator from Kenston Investment Ltd. The deal was effective from January 21.

Telkom acquired 75 percent of Multi-Links in May 2007.

MTN and Neotel building fiber optic network for 2010 World Cup

South African cell phone operator MTN and fixed-line operator Neotel aim to build $197 million long distance fiber optic network in time for 2010 World Cup.