Telecel Group’s recent acquisition from MTN and Vodafone to scale operations in Africa points to advanced plans for its initial public offering (IPO) in the next three years.
Details
The Africa-focused telecommunications company recently purchased assets from MTN Group in Guinea-Bissau and Guinea-Conakry.
This follows the purchase of Vodafone Group Plc’s operations in Ghana last year.
What They’re Saying
On Preferred Listing for its IPO: “Dubai and London seem to be our preferred options for a listing,” Chief Executive Officer Moh Damush said.
“We are also interested in further developments in the next years that would allow considering African bourses.”
Why This Matters
Africa is home to the youngest and fastest-growing population in the world, making it attractive. Still, telecoms companies in these markets have to be prepared for challenges including inadequate energy supply and catering to lower-income consumers.
The Big Picture
Telecel is looking at two other prospects in Africa. The company is looking at new rounds of acquisitions that will focus on financial services and tech companies that can add value to their investments.
Source: Bloomberg
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