Investors back Africa tower company

Emerging markets-focused private equity firm Helios has attracted a prominent group of investors, including Albright Capital, the private equity firm founded by former US secretary of state Madeleine Albright, to expand Africa's mobile tower network, reports AltAssets.

The investor consortium, which also includes the investment groups of billionaire investors Lord Rothschild and George Soros, has committed $350 million to form Helios Towers Africa. The company plans to build and maintain telecommunications towers and lease space on them to independent wireless telecoms operators.

HTA says that by allowing wireless operators to outsource non-core activities and infrastructure development, they will be able to spend more time and capital on improving products and services. The increased coverage is expected to allow more semi-urban and rural dwellers to get connected.

Mozambican telecoms company TDM has signed with West Indian Ocean Cable Company to link to the Eastern Africa Submarine Cable System undersea cable system, states Macau Hub.

The first link-up to the cable will be in Maputo bay, possibly next week, and the system is due to start operating on 30 June 2010.

The roll-out of the main cable is scheduled for April, 2010, and tests will be carried out before the system goes live in June 2010.

The First National Bank of Namibia has kicked off its $15-million IT project by signing a $5-million deal with IBM, to supply the country's first mainframe banking systems, says Computerworld.

Under the agreement, IBM will supply two IBM System z10 business class mainframes and supporting software, and localise systems and operations.

Steven van Rhyn, head of IT at FNB Namibia, says: “Skills transfer as well as training forms an integral part of the deal with IBM; Namibians will be up-skilled over a period of time.”