Company News

Millicom International Cellular S.A. ("Millicom")last Friday announced the completion of the transaction announced earlier this year with Bharti Airtel Limited ("Airtel"), the parent company of Airtel Ghana, to combine their operations in Ghana.

Zuckerberg-backed start-up, Andela, has raised Sh4.1 billion to boost IT talent in three African countries including Kenya through South Africa-based CRE Ventures.

Uganda has awarded Oranto Petroleum Limited (OPL) from Nigeria two licenses for petroleum exploration, development and production for the Ngassa area.

Windhoek — Paratus, the fastest growing and also the largest privately owned Pan African telecoms operator, has reaffirmed its position on the continent. The company is fast expanding and is now fully licensed in 22 African countries.

Nkurenkuru — Residents of Kavango West will no longer need to travel to Rundu for MTC services as the company has opened a mobile home in Nkurenkuru.

The Eastern and Southern Africa Trade and Development Bank (TDB) formerly, PTA bank has approved $60 million loan borrowed by three Ethiopian companies.

Windhoek — FNB Namibia is supporting the upcoming TEDx Unam with an amount of N$50,000. The event will take place on Saturday, September 30 at the University of Namibia Health Sciences Campus (School of Medicine/Pharmacy).

Axia Corporation reported a six percent increase in after tax profit to $15,3 million in the year ended June from $14,5 million last year on increased revenue.

A Chinese-based firm has expressed its interest in the buyback of the SAMIR oil refinery. While the proposed amount was deemed insufficient Moroccan oil company, a site visit was scheduled and a proper proposal is pending approval.