Ethiopia to install 4G network ahead of telecoms liberalisation

ADDIS ABABA, Aug 30 (Reuters) – Ethiopia’s state-run Ethio Telecom plans to install a 4G network in the capital and other regions and to upgrade other network services, it said on Friday, as the government prepares to open up the sector to private foreign investment. In July, Ethiopia announced it would award two telecoms licences

UPDATE 1-Tullow Oil’s sale of stake in Uganda project to Total, CNOOC dropped

* Total, CNOOC did not further extend deadline for sale – Tullow * Uganda authorities did not agree tax relief on deal * Tullow seeking to reduce Uganda stake from third to around 11% (Adds detail, analyst comment) By Shadia Nasralla LONDON, Aug 29 (Reuters) – Tullow Oil’s plan to sell another stake in its

Bharti Airtel to pay Tanzania $26 mln, cancel debt at unit to settle dispute

DAR ES SALAAM, June 10 (Reuters) – India’s Bharti Airtel has agreed to pay 60 billion shillings ($26 million) over five years and cancel debt to resolve a dispute over ownership of its Airtel Tanzania unit, the Tanzanian government said on Monday. Tanzania’s minister for foreign affairs and east Africa cooperation, Palamagamba Kabudi, announced the

UPDATE 1-Barrick’s offer for Acacia Mining reflects Tanzania risk -CEO

* Barrick offer for Acacia “fair”- Barrick CEO * Offer is 11% discount from Barrick’s own valuation * GRAPHIC: (Updates with detail, adds graphic, shareholder comment) By Zandi Shabalala and Nichola Saminather LONDON/TORONTO, May 24 (Reuters) – Barrick Gold Corp’s offer to buy the rest of Acacia Mining for $787 million is fair because

Kenya’s KCB Group sees acquisition of NBK sealed by October

NAIROBI, May 16 (Reuters) – Kenya’s biggest lender by assets, KCB Group, expects to complete its acquisition of National Bank of Kenya by October, it said on Thursday. KCB, which also operates in Uganda, Tanzania, Rwanda, Burundi and South Sudan, last month offered to buy National Bank (NBK) through a share swap of one KCB

UPDATE 1-Kenya’s Equity Group in deal to buy African bank stakes

(Adds details, background) By George Obulutsa NAIROBI, April 30 (Reuters) – Kenya’s Equity Group Holdings said on Tuesday it was in discussions with London-listed financial services firm Atlas Mara Limited about acquiring stakes in banks in Rwanda, Zambia, Mozambique and Tanzania. Equity’s announcement marks the third major deal among lenders in Kenya since the government

UPDATE 2-Kenya’s NIC Group shareholders back merger with CBA

(Adds details) By Omar Mohammed NAIROBI, April 17 (Reuters) – NIC Group’s shareholders have approved its merger with the Commercial Bank of Africa, the company said on Wednesday, paving the way for the two companies to create the third-biggest bank by assets in East Africa. The deal is subject to approval from regulators and NIC

UPDATE 1-Kenya’s Commercial Bank of Africa says shareholders accept NIC Group merger

(Adds details, background) By George Obulutsa NAIROBI, March 15 (Reuters) – Kenya’s Commercial Bank of Africa said on Friday its shareholders had accepted a share swap with NIC Group, paving the way for the first major merger in the sector since interest rate caps were imposed in 2016. In January, the two banks announced a