NEWS
QIA to invest US $ 200 million in Airtel Africa ’ s mobile money business
QIA will invest US $ 200 million through a secondary purchase of shares in AMC BV from Airtel Africa . The transaction will close in two stages . US $ 150 million will be invested at first close , subject to customary closing conditions including necessary regulatory filings , with US $ 50 million to be invested at second close once further transfers of certain mobile money operations and contracts into the AMC BV perimeter have been completed .
The Transaction first close is expected in August .
Raghunath Mandava , CEO of Airtel Africa , said : “ With today ’ s announcement we are pleased to welcome QIA as a prospective investor in our mobile money business , joining both Mastercard and TPG ’ s The Rise Fund as a further partner to help us realise the full potential from the substantial opportunity to bank the unbanked across Africa .”
Qatar Holding , an affiliate of the Qatar Investment Authority ( QIA ), has announced it will invest US $ 200 million in Airtel Mobile
Commerce BV ( AMC BV ), a subsidiary of Airtel Africa .
Mansoor bin Ebrahim Al-Mahmoud , CEO , QIA , said : “ We are delighted to build on our support of Airtel Africa in promoting financial inclusion to the large and growing population of Sub- Saharan Africa . Airtel Money plays a critical role in facilitating economic activity , including for customers without access to traditional financial services .”
Huawei unveils latest edition of ‘ Seeds for the Future 2021 ’ programme
Huawei , a leading global provider of information and communications technology ( ICT ) infrastructure and smart devices , has launched the latest edition of its annual education programme Seeds for the Future in the Middle East .
The programme ultimately supports the development of local ICT talent by enhancing international knowledge transfer among students , promoting a greater understanding of and interest in the technology field and encouraging participation in the region ’ s growing digital economy .
Charles Yang , President , Huawei Middle East , said : “ Today , information and communications technology ( ICT ) infrastructure is as vital to the prosperity and competitiveness of countries as electricity and transportation . As the digital economy expands , accelerated by the changing models of industry brought about by the pandemic , the reality is that there is a significant gap between what is taught in classrooms and the skills that are needed in the real world .
Through the Seeds for the Future programme , Huawei is once again addressing these concerns while opening up new opportunities for more individuals and institutions to participate in the construction of the future digital society .”
This year , the programme will run across 10 countries in the wider Middle East region including Saudi Arabia , UAE , Qatar , Bahrain , Kuwait , Oman , Lebanon , Jordan , Iraq and Pakistan .
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