Africa Online aquires MenaNet

Internet service provider (ISP), Africa Online, has completed the US $8.7 million purchase of Egypt’s second largest ISP, MeNanet

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By  Charlotte McDonald Published  February 14, 2001

Africa Online has recently finalised the acquisition of MenaNet Communications SAE to add as a fully owned subsidiary to its profile. The acquisition aims to enable Africa Online to establish a notable presence in the Middle East and North Africa.

“Entry into Egypt’s relatively large market has been a key part of our growth strategy and is an excellent foundation for further expansion throughout the North Africa region,” said Ayisi Makatiani, CEO of Africa Online. “Our pan-African growth in top-tier regional centres will continue, giving customers the best local services and capacity, as well as the comprehensive ISP network and product range in the business,” he added.

In the wake of rising local competition, Egyptian ISPs such as MenaNet are seeking strategic partnerships. Services from Africa Online to the Middle East and North Africa will be offered under the MenaNet brand name.

“MenaNet’s goal has always been to make it possible for anyone, anywhere to enjoy the benefits of the Internet,” said Gamal Marwan, chairman and CEO of MenaNet Communications. “Joining with Africa Online will help make that goal a reality.”

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