Author: Loni Prinsloo

Econet Wireless Zimbabwe plans to list its financial units as a single entity on the country’s stock exchange and sell a majority stake in network operator Liquid Telecom Zimbabwe back to the firm’s parent company.

Former Vodacom Group executive Romeo Kumalo has started a tech-focused South African investment firm and aims to raise as much as R2.9-billion in an initial public offering next year, sources say.

MTN Group has boosted sales ahead of targets in the third quarter, showing its ability to grow the business even with a major regulatory spat that’s rocked shares of Africa’s largest wireless carrier.

Helios Towers wants to enter South Africa within the next year, helping the mobile phone tower operator build scale as it prepares for a stock market listing as early as 2019.

Nigeria’s central bank governor will meet with MTN Group and four banks to negotiate a dispute over $8.1-billion the bank says was transferred illegally out of the country, sources said.

Stephen Van Coller, EOH Holdings’ new CEO, said he will use a R1-billion cash injection from a stake sale to black investors to pay for acquisitions and decrease the group’s bank debt.

MTN Group, facing a combined $10-billion in claims from Nigerian authorities, has said it may no longer seek to raise capital through an initial public offering on the country’s stock exchange.

MTN Group is considering a replacement for long-time chairman Phuthuma Nhleko, with former deputy finance minister Mcebisi Jonas lined up as his possible successor.

South African-based private equity firm Harith General Partners is buying into a fibre-optic cable network in Malawi as it invests more than $1-billion (R15.3-billion) in infrastructure on the continent.

MTN Group CEO Rob Shuter said the company is committed to Nigeria even as it considers how to respond to an order to return $8.1-billion in repatriated funds.