#BreakingNews: Liquid Telecom acquires Neotel for R6.5 billion

Liquid Telecom, a privately-owned pan-African telecoms group majority owned by Econet Global, has entered into an agreement to acquire Neotel. Liquid Telecom now has presence in over 20 countries across Africa with its fibre network spanning 20 000km across Burundi, DRC, Kenya, Rwanda, South Africa, Tanzania, Uganda, Zambia and Zimbabwe.    

By Cisco Eng. Shingie Lev Muringi 

The shareholders of Neotel, Tata Communications of India and minority shareholders led by Nexus Connexion have agreed for Liquid Telecom to buy Neotel for R6.55 billion.

Liquid Telecom is partnering with Royal Bafokeng Holdings, a South African investment group, which has committed to take a 30% stake in Neotel.

“The transaction, which is subject to regulatory approvals, is trans-formative and will create the largest pan-African broadband network,” said Liquid Telecom.

“Through a single access point, businesses across Africa will be able to access 40,000km of cross-border, metro, and access fibre networks.”

These currently span 12 countries from South Africa to Kenya, with further expansion planned. Liquid is currently the most equipped Internet Service Provider with capacity for all wholesale network carrier demands.

In Zimbabwe only, the Liquid Telecom division currently sits on 40Gbps capacity with the country only using 19Gbps thus leaving the operator with 21Gbps free capacity to interconnect more wholesale clients.

The battle for relevance continues…follow Shingie Levison Muringi our Technology Research Specialist and Sub Editor on Twitter @ShingieMuringi1, Email [email protected] or direct Cell: 0775 380 652 for all the latest trending technological issues in and outside Zimbabwe.

Steward Bank champions the RTGS movement

Previous article

Vodacom CEO scores R18 million in shares

Next article

Comments

Leave a reply

Your email address will not be published. Required fields are marked *