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Liquid buys Neotel for R6.55bn

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Liquid Telecom, a privately owned pan-African telecoms group, majority owned by Econet Global, has announced that it will acquire South African communications network operator Neotel for R6.55bn.

The shareholders of Neotel –Tata Communications of India and minority shareholders led by Nexus Connexion (Nexus) – have agreed for Liquid Telecom to acquire Neotel for ZAR 6.55bn. Liquid Telecom is partnering with Royal Bafokeng Holdings (RBH), a South African investment group, which has committed to take a 30% equity stake in Neotel.

The transaction, which is subject to regulatory approvals, is transformative and will create the largest pan-African broadband network. Through a single access point, businesses across Africa will be able to access 40 000kms of cross-border, metro and access fibre networks. These currently span 12 countries from South Africa to Kenya, with further expansion planned.

Commenting on the transaction, Nic Rudnick, Liquid Telecom CEO, said: “We are excited about this transaction. Leveraging the strengths of Liquid Telecom, RBH and Neotel, we will offer an unprecedented fibre network with a unique set of services and international connectivity for telecom operators and enterprises across sub-Saharan Africa. For the first time, African companies will be able to connect with each other in a cost effective and reliable way, all on a single fibre network. We will also be increasing investments into Neotel to cater for rapidly accelerating mobile and enterprise traffic, enabling us to launch exciting new products and services.”

Albertinah Kekana, Royal Bafokeng Holdings CEO, said: “This transaction is part of our diversification strategy and its focus on infrastructure is in line with our objective to invest in high growth sectors. As a long term investor, we are pleased to be partnering with Liquid Telecom who has a very credible track record in rolling out fibre in challenging and diverse markets. This deal represents our long-term investment approach and our commitment to the African growth story.”

Speaking on behalf of Tata Communications, Neotel’s majority shareholder, Vinod Kumar, MD and CEO, said: “Liquid Telecom is the right partner for the next phase of Neotel’s evolution. Convergence of technologies and services will be the key driver of growth across the globe and this transaction will encourage inclusion and support the growth aspirations of the African continent. We believe that Liquid Telecom will deliver on the vision of a well-connected Africa, which will  augur well for the South African telecom industry and Neotel’s customers.

Nexus, Neotel’s minority shareholder, also welcomed the transaction.

Speaking on behalf of Nexus, Kennedy Memani, said: “We welcome this transaction with Liquid Telecom and RBH. It will see the sale of Neotel to new shareholders who have the vision, expertise and funding to continue to grow the company and to allow it to reach its full potential in South Africa and across the African Continent.  We are confident that customers and employees will benefit from the transaction and from the resulting stability and business expansion.”

The transaction is subject to approval by South African regulatory authorities and is expected to be completed later this year.

Liquid Telecom was advised by The Standard Bank of South Africa Limited (lead advisor, mandated lead arranger and global coordinator) and UBS.

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Welcome to world of 2099

The world of 2099 will be unrecognisable from the world of today, but it can be predicted, says one visionary. ARTHUR GOLDSTUCK met him in Singapore.

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Futuristic structures tower over the landscape. Giant, alien-looking trees light up with dazzling colours amid the hundreds of plant species that grow up their trunks. Cosmetic stores sell their wares via public touch-screens, with products delivered instantly in drawers below the screens.

This is not a vision of the future. It is a sample of Singapore today. But it is also an inkling of the world we may all experience in the future.

Singapore was the venue, last week, of the World Cities Summit, where engineers, politicians, investors and visionaries rubbed shoulders as they talked about the strategies and policies that would enhance urban living in the future.

As part of the Summit, global payment technologies leader Mastercard hosted a small media briefing by one of Singapore’s leading thinkers about the future, Dr Damian Tan, managing director of Vickers Venture Partners. The company’s slogan “We invest in the extraordinary,” offers a small clue to Tan’s perspective.

“We look as far forward as 2099 because, as a venture capital firm, we invest in the long term,” he tells a group of journalists from Africa and the Middle East. “Companies explode in growth because there is value in the future. If there is no growth, they won’t explode.”

The big question that the Smart Cities Summit and Mastercard are trying to help answer is, what will cities look like in the year 2099? Tan can’t give an exact answer, but he offers a framework that helps one approach the question.

“If you want to look at 81 years into the future, and understand the change that will come, you need to double that amount and look into the past. That takes us to 1856. The difference between then and now is the difference you can expect between now and 2099.”

  •    Arthur Goldstuck is founder of World Wide Worx and editor-in-chief of Gadget.co.za. Follow him on Twitter on @art2gee and on YouTube

Use the page links below to continue reading about Tan’s visions.

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Win a Poster Heater with Gadget and Takealot.com

This winter Gadget and Takealot.com are giving away three Poster Heaters, which look like posters but become heaters when you plug them in.

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Three Gadget readers will each win a unit, valued at R550 each. To enter, follow @GadgetZA and @Takealot on Twitter and tell us on the @GadgetZA account how many Watts the heater consumes.

What’s the big deal about these heaters? Many of us are struggling to keep the balance between soaring electricity costs and the need to keep warm this winter.

However, the recently launched Poster Heater by EasyHeat and distributed in South Africa by Takealot.com is not only one of the most cost effective electric heaters currently on the market, it is also easy to setup and use.

As the name indicates, it is a poster similar to one you would hang on a wall. But, plug it in and it turns into a 300 Watt heater. The Poster Heater isn’t designed to heat hallways or large rooms, but rather smaller ones like a bedroom or a baby’s nursery or a dressing room.

It uses radiant heating, which means that it heats up in a couple of minutes and the heat is directed at the objects or people around it, quickly taking the chill out of the air and providing a comfortable ambient temperature.

The other advantage of radiant heating is that it doesn’t dry out the air like infrared or gas heaters. Users also don’t have to worry about their children or pets getting too close to it because, even though it gets hot, it can be touched.

To enter the competition follow the steps below:

Competition entry details:

1. Follow @GadgetZA and @Takealot on Twitter. (We will ONLY be accepting entries via Twitter, so please don’t enter through the comments section of this article.)

2. Tell us on Twitter, via @GadgetZA, mentioning @Takealot in your posting, how many Watts the Poster Heater consumes.

cleardot.gif3. The competition closes on 31 July 2018.

4. Winners will be notified via Twitter on 1 August and Takealot.com will be in touch to organise delivery.

5. The competition is only open to South African residents.

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