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Global telecommunications infrastructure company, IHS Holding Limited (IHS Towers) has announced the pricing of its initial public offering (IPO) of 18,000,000 ordinary shares being offered by IHS Towers, at a public offering price of $21.00 per share. According to a statement released by the firm, the underwriters of the offering will also have a 30-day option to...

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The Zimbabwe government has directed banks in the country to “implement a robust automated transaction monitoring mechanism to identify debit cards being used” in a bid to combat illegal foreign currency dealings as the Zimdollar plummets. The Zimdollar has been in freefall and authorities are blaming electronic banking, plastic money and mobile money platforms for...

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Remgro released its financial results for the year ended 30 June 2021, which revealed that Seacom improved its headline earnings by 360% over the last year. Seacom is best known for launching Africa’s first broadband submarine cable system along the continent’s Eastern and Southern coasts in 2009. Since then, the company has significantly expanded its...

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Vodacom Group has signed a deal that could see it buy an additional 10.9 percent stake in Safaricom Telecommunications Ethiopia from UK’s sovereign wealth fund CDC Group at a cost of $1.74 billion (Sh191.2 billion) in the coming years. The deal, if completed, will raise Vodacom’s interest in the newly formed telco to 17.1 percent....

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Ethio telecom announced that it plans to earn about 70 billion Birr this Ethiopian budget year by offering about 176 new and expanded local and international telecom service packages. Briefing the media yesterday , Ethio telecom CEO Frehiwot Tamiru said new technologies and additional features will be implemented to enhance customer experience, quality and accessibility...

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The Etisalat Group now has full ownership in Etisalat Investment North Africa, having bought the 8.7 per cent it was not holding from Abu Dhabi Fund for Development. The acquisition cost of $505 million is subject to change based on prevailing market conditions such as foreign exchange rate prior to the transaction completion. The acquisition will be...

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MTN Group is once again worth more than rival Vodacom Group after a surge in the former’s share price following publication of solid interim results last week. MTN’s shares jumped more than 8% on the JSE on Monday, lifting its market capitalisation to R233.39-billion, just above Vodacom’s R233.33-billion, according to data sourced from Yahoo Finance. The...