The planned recapitalisation of Cell C, believed to involve the Buffet Consortium and other investors, has been finalised, though details are only expected to be made public next month, TechCentral has learnt.
Airtel Africa yesterday reported a 21% decline in its total net profit at $65 million for the quarter that ended on March 31. This was a significant drop in comparison to the $82 million net profit made in the corresponding period, last year, mainly due to higher finance costs.
Intelsat filed for Chapter 11 bankruptcy and said it had obtained US$1-billion in new financing that will allow it to keep the satellite service in business while it awaits billions of dollars in proceeds from a government spectrum auction.
A strong set of results which delivered against our IPO aspirations with performance sequentially improving during the year
FinanceMore Africa NewsSouth Africa: Blue Label Telecoms’ shareholders back disposals to DNI
December 6, 2019by myles
Shareholders of South Africa’s Blue Label Telecoms, which has lost almost half of its value since January, have unanimously approved the sale of two assets for some ZAR 1 billion, Bloomberg reported. They approved the sale of 85 percent of its stake in subsidiary Blue Label Mobile for ZAR 450 million to DNI, a SIM...
FinanceMore Industry InsightsAfrica’s infrastructure financing reaches an all-time high in 2018, surpassing US$100bn
November 21, 2019by myles
The Infrastructure Consortium for Africa (ICA) announced a 24 per cent leap in infrastructure financing in Africa in 2018, surpassing US$100bn but gaps remain Launched on 12 November at the Africa Investment Forum, the ICA’s Infrastructure Financing Trends in Africa 2018 report shows that financing of infrastructure in Africa reached a new high of US$100.8bn...
French telecommunications firm Orange Group has emphasised strong performance within Africa and Middle East market, with growth up 7.6%, according to the company’s financial results at 30 September 2019. Orange Group revenues increased by 0.8% year-on-year on a comparable basis in the third quarter of 2019, while Group EBITDAaL rose 0.2% on a comparable basis...
FinanceMore Africa NewsMaroc Telecom reports growth in revenues, EBITDA in 9M 2019
October 23, 2019by myles
Maroc Telecom (IAM) has published its financial results for the nine months ended 30 September 2019, reporting a 0.6% increase in revenues from MAD27.137 billion (USD2.8 billion) to MAD27.308 billion, attributed to a 1.3% increase in sales generated by the group’s domestic operation, which was partly offset by a 1.3% decline in revenues in its...
FinanceMore Africa NewsEthio Telecom Collects $344mln Revenue in First Quarter
October 21, 2019by myles
Ethio telecom, the sole provider of telecom services in Ethiopia has garnered a little over 10 billion birr or close to 344 million USD revenue in the first quarter of the 2019/20 fiscally year. The company has increased its performance by 21 percent as compared to the same period last year, Frehiwot Tamiru, CEO of...
FinanceMore Africa NewsMTN South Africa Commits To Working With Struggling Cell C
October 18, 2019by myles
MTN South Africa chief executive officer Godfrey Motsa says that the company is committed to working with struggling operator Cell C. Speaking at the MyBroadband Conference in Midrand, Johannesburg, Motsa stated that MTN would retain its new, expanded roaming agreement with Cell C. This expanded roaming agreement allows Cell C to rely more heavily on...