Libya govt to sell mobile stakes

The Libyan government has set out plans to sell stakes in the country's two mobile phone networks, as part of a wider plan to sell off state owned corporations, reports Cellular News.

Libyana is the dominant government operator, with 83% of the market, followed by Al Madar. The country has a population mobile penetration level of 134%.

The government has also revealed plans of tax breaks to make trading on the local stock exchange more appealing to investors.

Egyptian telecoms infrastructure firm, Mobiserve, has opened an office in Kenya as it seeks to expand its operations into Africa, says AfricaNews.

Mobiserve CEO, Sameh Atalla, says the firm will hire quality telecoms engineering services and satellite services to communication service providers and vendors.

The company aims to employ up to 700 staff members in the coming few years, 99% of whom will be local to support its services throughout sub-Saharan Africa.

The World Bank has released a study revealing that Africa has the weakest infrastructure in the world, states The Botswana Gazette.

According to the report, transforming African infrastructure will require an additional $31 billion a year, which transforms into an estimate of $93 billion which will be needed annually over the next decade.

The study is part of the Africa Infrastructure Country Diagnostic, a project designed to evaluate the infrastructure in Africa, which the World Bank is implementing under the guidance of a steering committee which includes the African Union.