MobiNil targets to finalize LINKdotNET deal within a month

On 03.12.10, In Mobile, By Editor

www.WirelessFederation.com/news: A deadline has been set by Egyptian Company for Mobile Services (MobiNil), to complete the acquisition of broadband provider LINKdotNET (Egypt). MobiNil, which is Egypt’s largest mobile network operator by subscribers, is currently at the center of an owner ship dispute between France Telecom and Egyptian telecoms group Orascom Telecom.

Acquisition of LINKdotNET from Orascom will also be finalized by the company within a month. According to MobiNil chairman Alex Shalaby, the company has set an internal target, within the board, and it would like to see this completed and concluded within 30 days, within a month from the board meeting which took place on March 9.

In 2009, it was reported that Orascom has suspended its sale talks until the MobiNil ownership dispute and earlier this week it came to light that an Egyptian court had delayed the next ruling on the matter until March 27.

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Zain launches Zap mobile money transfer service in Uganda

On 06.09.09, In Mobile, By Editor

www.WirelessFederation.com/news: Zain, the leading mobile operator in Middle-East and African countries have inked an agreement with SCB to launch its mobile money transfer service Zap in Uganda. After receiving an approval from the Central Bank of Uganda, Zain has chosen Stanchart as Zap’s trustee bank. Zap which already is operational in Kenya and Tanzania offers mobile banking services such as money transfer, mobile airtime transfer, merchant and bill payments and international remittances.
Nearly 95% of the Ugandan population has no access to banking services of the country. With over a million of Zain subscribers in Uganda having the Zap menu enabled on their phones will enable them to use the service after registering. Zain will also soon enable its subscribers to make cross-border payments and transfers between Kenya, Tanzania and Uganda at no extra charge.

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Bharti Airtel to get a bridge loan of $4 Bn from SCB (India)

On 06.01.09, In Mobile, By Editor

www.WirelessFederation.com/news: The Indian mobile operator, Bharti Airtel has secured a bridge loan of USD 4 billion for 1 year duration from Standard Chartered Bank to finance the acquisition of the stake in MTN South Africa. Standard Chartered has agreed to fully underwrite Bharti’s net acquisition cost.
In the end, Bharti Airtel will be making a net cash payment of around USD 4 billion to acquire a 49% stake in MTN which will, in turn, call for a 36% economic interest in the Indian operator.
The bankers said that it was possible that Airtel might also use some cash from internal accruals, taking the bridge come down. A Bharti Airtel spokesperson said that the company has not decided on the specifics of funding for this proposed transaction.

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Uganda Telecom & Standard Chartered Bank ink m-banking deal

On 03.30.09, In Mobile, By Editor

Uganda Telecom and Standard Chartered Bank ink m-banking agreement enabling the UTL subscribers to access their banking services via mobile handsets. According to the agreement, the subscribers will have to sign up with the bank to access the m-banking service. The bank assures safe system for data which will not be stored on the Sim card. The initiative aims to raise the access to the bank’s service.

   

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XL secures a loan of US$214 to buy Ericsson equipment (Indonesia)

On 03.25.09, In Mobile, By Editor

www.WirelessFederation.com/news: XL, mobile operator of Indonesia has secured a loan of US$214 million to buy equipment from Ericsson. This is the Indonesian company’s second deal with Swedish export credit guarantee agency EKN. The facility was arranged by ABN Amro and Standard Chartered Bank and is the second tranche of a total USD 428 million provided by EKN. The company’s capital expenditure will be done from this loan.

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Zain launches Zap Mobile Banking, targets 100Mn customers

On 02.17.09, In Mobile, By Editor

Leading mobile telecommunications provider Zain announced its plans to bring mobile banking to over 100 million people in East Africa with the launch of its new service, Zap. With the most comprehensive and accessible package of mobile banking features currently available on the continent, Zap will be initially available in Kenya and Tanzania and will shortly launch in Uganda. It represents the most comprehensive mobile banking service and will provide millions of people with access to banking for the very first time.

Zain is partnering with leading international and regional banks including Citigroup and Standard Chartered Bank to launch Zap, which will allow Zain customers in the three countries to use their mobile phone to:

• Pay bills and pay for goods and services
• Receive money and send money to friends and family
• Send and receive money to the bank accounts
• Withdraw cash
• Top up their own airtime account or top up someone else’s
• Send airtime to Zain customers in East Africa
• Manage their bank accounts

(more…)

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