Zambian authorities approve USD30m JV
BUSINESS
By BiztechAfrica - July 7, 2011, 3:50 p.m.
Zambia’ s Competition and Consumer Protection Commission (CCPC) has approved a joint venture between Copperbelt Energy Corporation (CEC) and Liquid Telecommunications Holdings Limited of Mauritius.
The two companies will create a new company, CEC Liquid Telecommunications, investing USD30 million into the operation.
Liquid Telecommunications provides high capacity fibre optic technology and plans a 4000km ring fibre network in central Africa.
It has presence in Botswana, Kenya, Lesotho, South Africa, United Kingdom and Zimbabwe and owns and operates one of the largest fibre optic networks in Southern Africa, which is estimated to exceed 8 500 kilometres by the end of this year.
CEC’ s strategy is to grow and diversify its business by pursuing viable opportunities in the energy and telecommunication sectors.
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Red tape slows business in AfricaThe sheer complexity of travelling to many African countries is hampering the roll-out of business there, says Carlos Ferraz, GM of Motorola Solutions.
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Africa must think beyond blue collar jobsPan-African job creation initiatives need to look beyond basic job creation, to high level ICT skills development, to develop the economies, says Greg Vercellotti, executive director at Dariel Solutions.