Posts Tagged ‘Nigeria’

Econet in bid to block Zain Nigeria sale

According to IT News Africa, Econet Wireless Group (EWG) of South Africa has started moves to block the sale of Kuwaiti-based Zain’s interests in Zain Nigeria until a ruling on a dispute over ownership of the company is passed. Last week media reports indicated that the Zain Group, a mobile telecoms company with operations in 22 countries in the Middle East and Africa, may agree to a deal to sell its African operations to French company Vivendi for up to USD12 billion.

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Interview with Econet boss – Strive Masiyiwa

Strive Masiyiwa

Strive Masiyiwa

As founder and chief executive of Econet Wireless he has pursued his ambition of creating a truly African multinational business, spinning a web that spans seven countries, more than 25 million customers and generates an estimated $3bn (£1.8bn) in annual revenues. He has fought his way through Africa’s often tangled legal jungle and had the security forces on his tail – more often than not sitting outside his house.

Next week his legal team will enter a courtroom in the Netherlands to mount the next challenge: throwing a spanner in the works of what could potentially be one of the biggest deals in African history, the $10bn sale of rival mobile-phone operation Zain.

Read the rest on the Guardian website…

Source: Guardian

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