wiredInUSA September 2020

Acquisition bid

Fiber link commissioned for Zimbabwe

Photo by Annie Spratt on Unsplash

The Aga Khan Fund for Economic Development (AKFED) has submitted a bid to acquire 100% of the pan- African submarine cable operator Seacom, valued at $603 million. According to an enquiry notice from the regional competition authority COMESA Competition Commission, AKFED is seeking to acquire all the shares in the operator through its subsidiaries Industrial Promotion Services (IPS) and Jubilee Holdings. AKFED already owns a significant stake in Seacom through IPS. COMESA plans to conduct an investigation into the AKFED acquisition offer in order to determine whether the transaction is likely to prevent or reduce competition with the potential to harm the public interest.

Acting managing director Lawrence Nkala

TelOne, a telecommunications parastatal company owned by the Zimbabwe government, has commissioned a fiber optic link between Makuti and Chirundu, at an estimated cost of $1.5 million. Government minister Jenfan Muswere, who officiated at the unveiling event, said the link is part of the government’s move to upgrade and modernize the country’s communications infrastructure and reduce costs. “The government will be able to provide citizens with affordable internet, and create business opportunities along the way,” said Muswere. TelOne’s acting managing director, Lawrence Nkala, said the link connects Zimbabwe with neighboring countries including South Africa, Mozambique, Botswana and Zambia. Nkala added: “The project is set to solidify TelOne’s position as a reliable carrier-grade service provider to both local and international markets. The link also gives the company capacity to carry domestic traffic for all players in Zimbabwe, and transit traffic across to Zambia and beyond, thereby presenting an opportunity to generate foreign currency.”

wiredInUSA September 2020

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