A massive new submarine broadband cable is to be built around Africa and the Middle East and is being backed by the likes of Facebook, China Mobile, MTN Group, Vodafone Group and Orange.
Browsing: Orange
Ethiopia moved closer to liberalising one of the world’s final frontiers for telecommunications by publishing the final draft of directives. South Africa’s MTN Group and Vodacom Group are keen to invest.
Econet Global, owned by Zimbabwean billionaire Strive Masiyiwa, is keen to acquire a telecommunications licence in Ethiopia, which is opening up the industry to foreign investment for the first time.
Safaricom, weighing up an offer for Ethiopia’s telecommunications business later this year, plans to take on debt to fund a joint bid by a consortium including parent Vodacom and two other entities.
Orange, France’s biggest phone company, has picked BNP Paribas and Morgan Stanley to advise on a proposed initial public offering of its Middle East and Africa business, sources say.
Orange, France’s dominant phone company, is starting preparations for a potential initial public offering of its Africa and Middle East unit, people familiar with the matter said.
Safaricom and parent Vodacom Group plan a joint bid for an Ethiopian telecommunications licence that they expect to cost as much as R15-billion.
Ethiopia may give up majority control over its telecommunications monopoly in a second phase of privatisation once it’s sold 49% of the company next year.
As part of an ambitious reform programme, Prime Minister Abiy Ahmed plans to award telecommunications licences to two private operators next year, and sell a minority stake in Ethio Telecom.
Ethiopia plans to sell a minority stake in the state-owned phone monopoly and award telecommunications licences to two new operators in the first quarter of next year, the finance ministry said.