Huawei, ZTE banned from Algerian tenders
BUSINESS| June 11, 2012, 1:40 p.m.
Huawei and ZTE have been banned from tendering for state business in Algeria for the next two years, after being found guilty of bribery.
The Chinese companies have been found guilty in an Algerian court of bribing executives at the state owned telecoms network, Algérie Télécom, between 2003 and 2006. ZTE and Huawei have been fined DZD3 million each and banned from tendering with state-owned companies for two years.
Two local executives, Mohamed Boukhari and Chami Madjdoub, were found guilty of receiving illegal payments and money laundering, and have been sentenced to 18 years in prison.
Three Chinese officials, Dong Tao and Chen Zhibo of ZTE and Xiao Chuhfa of Huawei, were sentenced in absentia to 10 years in prison. Their extradition is being sought.
ZTE and Huawei have denied the allegations.
MORE BUSINESS NEWS
VMware reports third quarter 2014 resultsVMware, the global leader in virtualization and cloud infrastructure, today announced Year-over-Year Revenue Growth of 18% to $1.52 Billion in its financial results for the third quarter of 2014. Read More
CA Technologies study reveals application divideA global study commissioned by CA Technologies reveals that that “Leaders” who are investing in new innovation and development capabilities are growing revenue at more than twice the rate of “Laggards,” creating an Application Divide in the marketplace. Read More
RubiBlu eyes African growthSA-based software firm RubiBlu plans to expand in Africa on the back of significant growth. Read More
MTN Business partners Ghana SME 100 RankingMTN Business has been announced as the headline sponsor of the first annual Ghana SME 100 ranking, an initiative put in place to identify and honour the country's top 100 local Small Medium Enterprises. Read More
Banks deny charging customers for BVNMoney deposit banks (MDBs) have denied allegation that they were milking their customers through ongoing Bank Verification Number (BVN) project of the Central Bank of Nigeria (CBN). Read More
Schneider Electric to acquire InStep SoftwareSchneider Electric, the global specialist in energy management, has entered into an agreement to acquire InStep Software, a leading provider of real-time performance management and predictive asset analytics software and solutions. Read More
AfricaOnline managed service solution launched in GhanaPan African telecoms operator, Gondwana International Networks (GIN) has announced that its AfricaOnline business has launched a managed infrastructure and services solution in Ghana. Read More
4th Annual CIO100 awards open for applicationIn conjunction with PwC, the CIO 100 awards, now in its fourth year, is now open for applications. Read More
Kenya’s Wananchi Group raises $130m for African expansionKenya’s Wananchi Group, which owns the Zuku pay-TV and fibre brands, has raised US$130 million in funding to expand in East and Southern Africa. Read More
Investor networks to work towards pan-African Business Angel NetworkInvestor networks from across Africa attending last week’s DEMO Africa event in Lagos, Nigeria agreed to investigate how to form a pan-African Business Angel Network focused on early stage SME investing on the continent. Read More
FEATURED STORYGrowing African focus on data security
Beachhead Solutions’ new SA and Mauritius country manager explains the challenges and solutions around securing customer data and compliance with new personal information legislation.
BEST READ NEWS
IN DEPTHAfrica lags on digital migration
Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.
COMPANY NEWSVMware reports third quarter 2014 results
VMware, the global leader in virtualization and cloud infrastructure, today announced Year-over-Year Revenue Growth of 18% to $1.52 Billion in its financial results for the third quarter ...CNN, MultiChoice name top African Journalist 2014
Kenyan journalist Joseph Mathenge has been awarded the top prize at this year’s CNN MultiChoice African Journalist 2014 Awards Ceremony.