By Editor on October 21, 2011 · Leave a Comment
Airtel Ghana has launched Airtel Money, allowing customers to use their mobile handset in place of their wallet. As per reports, Mr Luck Ochieng, Sales Director, Airtel Ghana has said that this innovative mobile service would help customers to overcome many challenges that they go through when transacting business in their daily lives. He added that the company’s objective was to make communications, banking, payments, retail, and infotainment affordable and accessible to all in Africa, especially in Ghana through Air Money. He said the company had enhanced public safety by initiating a ‘cashless society’ where one could make direct purchases with e-money instead of the actual exchange of cash from one source to another.
Mr. Emmanuel Kola, Head of Airtel Money, has reportedly said that the service was in partnership with Ecobank, Standard Chartered Bank and Zenith Bank and assured customers their money would be safe through that facility. He added that after successful registration, a customer could access the service with their pin numbers with which they could access their bank accounts. This service also allows users to transfer money from the phone to their bank account and vice versa.
By Editor on February 7, 2011 · Leave a Comment
Airtel Africa has tied up with Standard Chartered and Mastercard to launch a virtual shopping card on the mobile. ‘Airtel 1time Shopping Card’, the service will be launched in Kenya and subsequently launched in multiple markets across Africa.
The card will allow Airtel Africa customers in Kenya to use their mobile phone to make online purchases from MasterCard merchants around the world, including online, through a one time transaction number, each time an Airtel customer is shopping online he or she will be able to request a single use shopping card number. Airtel money services will generate a special 16 digit number that enables the completion of the transaction. On completion of the transaction, a confirmation message will be sent to the consumer’s handset.
It is not yet clear, whether Airtel Money is being provided only to Standard Chartered customers if that is the case, Airtel should probably look at making this service bank agnostic. Additionally, it’s not clear whether this is a prepaid system (in which the customer adds money to his Airtel Money account, a credit card system, or a direct debit system.
Filed under Mobile ·
Tagged with Africa, Airtel, Airtel 1time Shopping Card, Airtel Money account, credit card system, direct debit system, Kenya, MasterCard, Mobile, prepaid system, Standard Chartered
By Editor on October 1, 2010 · Leave a Comment
Qatar Telecom (Qtel) is planning to commence a roadshow for a benchmark dollar bond sale.
According to a source Qtel will commence a roadshow for a benchmark-sized dollar bond on Oct 4, and six banks have been mandated to manage the sale.
Qatar International Finance Ltd., an owned subsidiary of state-owned telecoms services provider Qtel, has authorized Barclays Capital, Deutsche Bank, Qatar National Bank, Royal Bank of Scotland, Standard Chartered, and Mitsubishi UFJ for the issue.
In July, Qatari Diar, the real estate arm of Qatar’s sovereign wealth fund, sold a government-guaranteed dual-tranche $3.5 billion bond to international investors.
According to another source, the bond will be guaranteed by state-controlled Qtel and is expected to be launched after the roadshows in the United States, Europe, Middle East and Asia. A benchmark-sized issue is usually understood to be US$500 million.
Filed under Mobile ·
Tagged with arclays Capital, ASIA, benchmark, Deutsche Bank, dollar bond sale, Europe, Middle East, Mitsubishi UFJ, Mobile, Qatar, Qatar International Finance Ltd., Qatar National Bank, Qatar Telecom, Qatari Diar, Qtel, Roadshow, Royal Bank of Scotland, Standard Chartered, United States
By Editor on May 28, 2010 · Leave a Comment
www.WirelessFederation.com/news: Bharti Airtel, India’s largest telco by both customers and revenues has started drawing down funds from lenders for completing its buy of Kuwaiti telecom Zain’s African assets in a $9-billion deal. The deal to acquire Zain Telecom’s African business is expected to be completed by the Indian telecom operator soon.
Bharti Airtel signed a deal with Kuwait-based Zain Telecom in March to buy its African business for $10.7 billion, consummation of which will transform Bharti into a truly global telecom company with operations across 18 countries. Bharti Airtel would also get a firm foothold in the relatively untapped African market through this deal.
Currently, Bharti Airtel is in the process of getting approval from each of the 15 African nations where Zain operates in the continent and has been successful in getting them except in Sudan and Morocco.
The deal worth $10.7-billion had been signed in Amsterdam, the base of Zain’s African unit on March 30 and included $1.7 billion of Zain’s debt in the total amount. Bharti Airtel will have over 180 million subscribers after acquiring Zain Africa’s 42 million customers, thus becoming the world’s fifth-largest mobile phone operator.
Bharti Airtel had announced just days before singing the deal with Zain that it had finalized $8.5 billion of funding for its acquisition of the African assets of Zain. According to the company, consortium of banks led by Standard Chartered and Barclays would lend it $7.5 billion and State Bank of India will bring in another $1 billion, the latter a so-called rupee loan.
The largest chunk of funding of $1.5 billion of which $500 million is a dollar loan has been provided by India’s largest bank, State Bank of India. The lead arranger for the dollar loan is Standard Chartered that will lend $1.3 billion while Barclays the joint lead advisor will provide $900 million. The remaining $4.8 billion will be provided by a group of eight international banks.
Filed under Mobile ·
Tagged with Africa, Amsterdam, ASIA, Barclay, Bharti Airtel, India, Kuwait, Mobile, Morocco, operator, Standard Chartered, State Bank, State Bank of India, Sudan, Zain Africa
By Editor on October 13, 2009 · Leave a Comment
MTN in Uganda has raised USD 100 Million for network expansion with Absa Capital as the lead arranger.
Stanbic Bank, Standard Chartered, Kenya Commercial Bank, Barclays, DFCU and Orient bank participated to raise the amount. Isaac Nsereko, chief marketing officer of MTN Uganda confirmed the development to Reuters.
Uganda has a total of 6 telecom players: Uganda Telecom (UTL), Zain, Orange, Warid, I-Telecom and MTN. MTN is the largest with 60% market share and just under 5 million subscribers, according to Isaac Nsereko.
Filed under Mobile ·
Tagged with Absa, Barclay, Barclays, DFCU, I-Tel, I-Telecom, Isaac Nsereko, Kenya, Market Share, MTN, MTN Uganda, Network, Network Expansion, Orange, Orient, Stanbic, Stanbic Bank, Standard Chartered, telecom, Uganda, Uganda Telecom, UTL, Warid, Zain
By Editor on October 2, 2009 · Leave a Comment
Reliable sources have revealed that the Bharti-MTN merger’s fate was sealed three weeks before it was called off on SEP 30, 2009.
It is learnt that the South African governments treasury wrote to MTN on September 11 demanding that the merged entity be domiciled in South Africa (a request earlier made in mid August as well) AND that it should be listed in both countries, OR the deal would not be blessed (South African government’s pension fund, Public Investment Corp, holds 21% stake in MTN).
Members of the South African treasury had visited India on September 24 to understand the regulatory and legal framework of Indian laws and deliberate upon hurdles to the deal. The Indian side revelaed that the dual listing structure would result in huge tax losses for India among other factors.
The South African treasury insisted on a parallel listing via the trust route. Such parallel listing would mean creating two trusts, both listed, one in India and one in South Africa. Both trusts would mirror a share swap deal. Such parallel listing would have been compliant with existing Indian laws.
It turns out that the deal fell through because of South Africa’s political compulsions!
P.S: The investment banks involved in the deal – Bank of America, Merrill Lynch and Deutsche Bank from MTNs side and Standard Chartered & Barclays from Bharti’s side will not be making the potential 24 to 48 Million dollars had the deal gone through.
Filed under Mobile ·
Tagged with Bank Of America, Barclays, Bharti, Government, India, merger, MTN, political compulsions, South Africa, south african government, Standard Chartered, trusts
