The Moroccan government has initiated a privatization process by announcing that it will sell its 8% stake in Maroc Telecom and relinquishing its right to vote. The government announced that it will 6% of that stake this month as a block order to local institutional investors such as retirement funds, insurance companies and banks. The remaining 2% stake will be sold on the Casablanca stock exchange, where the company is already listed, said the Ministry of Finance.
Telecom Egypt announced its Q1 2019 results ending 31 March 2019, registering a net profit of EGP 1.6bn. Consolidated revenue came in at EGP 6.1bn, recording +27% Year-on-Year. Retail revenue contributed 57% to the total Year-on-Year growth backed by the rise in data services revenue.
India's debt-laden telecoms giant Bharti Airtel hopes to raise $750 million when it lists its African unit on the London Stock Exchange, the company said.
MTN Group published its quarterly update for the period ended 31 March 2019, registering a 10% year-on-year increase supported by the continued expansion in voice, data and fintech revenue.
Nokia is deploying a cloud-based Subscriber Data Management (SDM) solution that will enable Vodafone Egypt to offer innovative services to its 4G customers.
For the year 2019, the mobile operator Etisalat Misr announces an investment of more than 3 billion Egyptian pounds (167,272,358 US dollars) for the modernization of its telecom network, according to Hazem Metwally’s words, chairman and CEO of the telecom company.
According to Safaricom CEO Bob Collymore, the company along with its largest shareholder Vodacom are set to form a joint venture to buy rights to m-Pesa service from Vodafone Group in a deal worth $13 million.
Telecom Egypt announced that it has signed a landing party agreement with Pakistan & East Africa Connecting Europe (PEACE) Cable International Network Co. and PCCW Global, the international operating division of HKT, Hong Kong’s premier telecom service provider. PEACE is a 12,000 km long cable system with landings in Pakistan, Djibouti, Egypt, Kenya and France that provides open, flexible and carrier-neutral services for its customers.
South African telecoms giant MTN has paid more than three-quarters of a record $1.5 billion dollar fine levelled by Nigeria for failing to disconnect unregistered subscribers, the government said.
Safaricom and Equity Bank have joined forces to boost financial inclusion in Kenya through more inclusive and simplified fund transfers between their agents. The partnership also aims to share a technical expertise to build a common approach to risks such as fraud and cybersecurity.