">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Saturday, January 16, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Business

Liquid Telecom gets nod to acquire Neotel for ZAR 6.55 billion

Milcah Lukhanyu by Milcah Lukhanyu
4 years ago
in Business, Tech
5 min read
0

Liquid Telecom has received unconditional approval from the Independent Communications Authority of South Africa (ICASA) for the ZAR 6.55 billion acquisition of South African communications network operator Neotel. This follows approval from South Africa’s Competition Commission during October 2016.

Liquid Telecom’s partner, South African investment group Royal Bafokeng Holdings (RBH), will own a 30% stake in Neotel.

This comes just days after the firm announced it was acquiring Tanzania’s Raha and weeks after a similar deal in Botswana giving Liquid Telecom unrivalled reach across Eastern, Central and Southern Africa, enabling it to offer access via a single connection to over 40,000km of cross border, national and metro fibre networks across 12 countries.
 
Commenting on the approval, Nic Rudnick, CEO of Liquid Telecom, said: “We are delighted to have received regulatory approval to complete this transaction. The combined companies will create an unparalleled footprint covering key markets across the continent, giving Liquid Telecom a significant competitive advantage through the breadth, depth and flexibility of our consolidated networks. We will be able to offer African companies the highest quality and most extensive connectivity on the continent. We appreciate the efficiency with which this transaction was dealt with by both ICASA and the Competition Commission.”

Liquid Telecom will invest in Neotel’s products and services in order to support the rising demand for network services in South Africa and other African countries. Neotel will also benefit from Liquid Telecom’s pan-African experience and technology leadership, helping to enhance systems and processes across its operations as well as drive profitability.

READ  Is Afia Udofia, the techie behind Linda Ikeji's Smile & Empire that may also be her downfall?

The transaction will transform Liquid Telecom’s presence in South Africa, where Liquid Telecom’s growing base of corporate and enterprise customers will benefit from Neotel’s extended services portfolio and advanced network reach.

Since its launch in 2006, Neotel has invested over ZAR 7 billion in infrastructure, deploying a nation-wide backbone fibre connecting the top 40 cities and towns in South Africa. Neotel connects over 5,000 businesses and passes close to another 100,000 addresses.

The transaction includes two of Neotel’s Tier 3 designed state-of-the-art data centres in Johannesburg and Cape Town, which offer a combined 1700 square metres of rack space.

Related posts

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021
0

How to fuliza by Safaricom guide

January 15, 2021
0

ASUS debuts new ZenBook Duo | Pro Duo, VivoBook, ExpertBook and Chromebook laptops at CES 2021

January 15, 2021
0
signal-apps

Is Signal That Different From WhatsApp? Here Are 5 Ways It May Be Different

January 15, 2021
0

Speaking on behalf of Neotel, Non-Executive Director in Charge, Kennedy Memani, said: “We welcome ICASA’s approval of this transaction. Leveraging the strengths of Liquid Telecom, Neotel’s staff and customers will benefit from the stability, planned expansion and increased investments into the business. This will enable Neotel to reach its full potential in South Africa and across the African continent.”
 

Readers 1,047

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: BusinessSTARTUPTelcos
Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

cryptocurrencies

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021
0
How To

How to fuliza by Safaricom guide

January 15, 2021
0
Tech

ASUS debuts new ZenBook Duo | Pro Duo, VivoBook, ExpertBook and Chromebook laptops at CES 2021

January 15, 2021
0
signal-apps
Tech

Is Signal That Different From WhatsApp? Here Are 5 Ways It May Be Different

January 15, 2021
0
Tech

Between WhatsApp, Facebook And Signal Which Platform Collects More Personal Data?

January 15, 2021
0
Tech

HTML5 Tech Takes Over from Flash to Advance E-Sports Industry

January 15, 2021
0
Business

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
uganda-8
Tech

This Is Why The Ugandan Web Is Currently In Turmoil And Their Internet Has Been Shutdown

January 14, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Baidu establishes an Intelligent electric vehicle arm to bring autonomous cars on a road near you

January 15, 2021

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021

How we can all contribute to the Green revolution 

January 15, 2021

How to fuliza by Safaricom guide

January 15, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: