Telkom eyes Namibian assets

South African operator set to acquire MWEB Africa and majority equity stake in MWEB Namibia.

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By  Roger Field Published  November 11, 2008

South African telecom operator Telkom said it will acquire 100% of MWEB Africa and 75% of MWEB Namibia from media group Naspers, for US$63 million (R610 million).

The deal, which is subject to regulatory approval in various African countries, is part of Telkom’s strategy to become a Pan-African integrated service provider, according to Reuben September, CEO, Telkom.

“The acquisition reflects Telkom’s strategy of expanding and deepening its footprint in key markets across Sub-Saharan Africa. Expanding beyond the borders of South Africa provides Telkom with an opportunity to become less dependent on domestic revenue streams,” he said.

MWEB Africa is a satellite internet services provider in Sub-Saharan Africa, excluding South Africa, and also provides network access services in some countries. Although its operations ate aimed at corporate customers, MWEB Africa's satellite-based internet services allow the company to reach a wide range of customers, many of which are not connected by fixed-line.

MWEB Africa, meanwhile, is headquartered in Mauritius with operations in Namibia, Nigeria, Kenya, Tanzania, Uganda and Zimbabwe, an agency arrangement in Botswana and distributors in 26 Sub-Saharan African countries.

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