Altech to sell off West African business
BUSINESSBy BiztechAfrica - Sept. 27, 2012, 10:17 a.m.
Allied Technologies Limited (Altech) has announced that it plans to dispose of its 75% share in Altech West Africa Limited (AWA).
Altech said in a statement that AWA launched in Nigeria, in 2005. The company produces cash recharge vouchers for the cellular network operators in Nigeria and has more recently commenced the manufacture of plastic card products for Nigerian banks and other clients.
While AWA was highly profitable for most of the time since its inception, it has become loss-making during the last 18 months. Altech says this is due to a reduction in demand for its secure recharge vouchers (as opposed to cheaper non-secure products made by other suppliers) and delays in the up-take of plastic chip cards by banks. In addition, its “pioneer industry” tax-free status expired recently.
These factors, plus the costs involved in maintaining Altech management control of AWA from South Africa, additional investment required to enhance AWA’s production facilities, as well as the fact that AWA‘s product area is non-core to the Altech group, has prompted Altech to reached agreement to dispose of its 75% interest in AWA.
MORE BUSINESS NEWS
Further African expansion for PhoenixPhoenix Distribution, a leading broad-based distributor on the African continent, has expanded its office in Nairobi, Kenya, in a move to better serve its partners in East Africa. Read More
Garmin seeks business partners in West AfricaGarmin is hosting a trade delegation in Accra, Ghana from the 12th to 16th May 2014. Read More
Orange Telkom not closing Kenya business: GhosseinSpeculation that Orange Telkom Kenya would be closing its Kenyan operations has been put to rest. Read More
Dimension Data enters Ghana’s IT marketDimension Data, a South Africa-based ICT solutions and services provider, has announced its entry into the Ghanaian ICT market. Read More
Glo rewards business partnersGlobacom has showered 53 high-end vehicles and other prizes on its trade partners responsible for distributing Globacom’s products and services across Nigeria. Read More
Worldwide PC shipments declineWorldwide PC shipments totalled 76.6 million units in the first quarter of 2014, a 1.7 per cent decline from the first quarter of 2013, according to preliminary results by Gartner Read More
Axis Solutions becomes first VMware Premier Partner in the WECA RegionAxis Solutions, a Pan-African ICT solutions provider headquartered in Harare Zimbabwe, is the first VMware partner to become a Premier Partner within the WECA region. Read More
Nigeria to spur Oracle's African driveOracle Corporation has assured that Nigeria will be the centerpiece of its developmental drive in Africa. Read More
Pivot East nurtures promising startupsPivot East, an innovative mobile web competition geared towards nurturing the growing ICT talent in East Africa, is providing an ideal platform to grow mobile web startups. Read More
Phoenix Distribution unveils new, interactive websitePhoenix Distribution, currently the leading value added software and CES distributor across the African continent, has redesigned its website, making it easier to use for clients and partners alike. Read More
FEATURED STORYKenyan shift to Green Economy would generate USD 45bn by 2030
Kenya’s transition to a green economy could produce major economic benefits equivalent to an estimated USD 45 billion by 2030, a new study shows.
BEST READ NEWS
IN DEPTHE-waste threatens Ghana’s beaches
Many beaches in Ghana, already stressed by pollution and poor maintenance, are now facing a new threat: e-waste.
COMPANY NEWSFurther African expansion for Phoenix
Phoenix Distribution, a leading broad-based distributor on the African continent, has expanded its office in Nairobi, Kenya, in a move to better serve its partners in East ...