Intelligent CIO Africa Issue 08 | Page 20

PROJECT LATEST LATEST REGIONAL PROJECT UPDATE ANGOLA ANGOLA Angola Cables have taken a step closer to completion of the South Atlantic Cable System (SACS) at an official launch in Sangano, Angola. The launch event was attended by José Carvalho da Rocha, the Angolan Minister of Telecommunications and Technologies, local and international business leaders, as well as the shareholders and guests of Angola Cables. The installation of SACS is considered a strategic project for Angola to advance the region’s digital economy and to improve global communications. The installation phase of the cable on the Angolan shore is one of the most important aspects of the project as several levels of interaction and activity are required with several entities simultaneously, and therefore constitute a critical and high-risk moment. SOUTH AFRICA SOUTH AFRICA Vodacom Group has announced that its proposed R35 billion acquisition of an effective 35% stake in Kenya’s leading integrated communications company, Safaricom, has been finalised. All regulatory approvals and conditions precedent in both Kenya and South Africa have now been met. Commenting on the conclusion of the transaction, Vodacom Group Chief Financial Officer Till Streichert, said: “Vodacom is pleased to announce that the Safaricom transaction, which is the largest in our company’s history, has now been finalised. This will provide both businesses with opportunities for growth, as well as enable Vodacom shareholders to access a strong performing business in East Africa in a high-growth market. We expect this transformational transaction will enhance our position as a leading African mobile communications company, providing the group with the perfect opportunity to diversify our financial profile.” 20 20 INTELLIGENTCIO INTELLIGENTCIO www.intelligentcio.com www.intelligentcio.com