LATEST NEWS:
Business
Africa's telecoms industry still red-hot
Friday, July 03, 2009
Investment in Africa's telecom industry remains unabated despite the economic slowdown, with international providers set to increase their presence, a report said Wednesday.
A study carried out by the UN Economic Commission for Africa, African Development Bank and the Organisation for Economic Cooperation and Development said mobile phone coverage and internet use are expected to grow this year.
"The current crisis will probably have less impact on FDI (foreign direct investment) for telecommunications because of Africa's large potential market and the relatively low impact of the crisis on the consumers," said the report, entitled "African Economic Outlook".
Mobile phone subscriptions rose by 41 per cent in 2008,
far outstripping the number of fixed-line users on
the continent.
"While small operators struggle to finance network expansion, large cash-flush operators such as MTN, Orascom Telecom, Zain, Orange and Vodafone will be able to move in to the African market," it added.
Those companies, along with Moov and Tigo, accounted
for 52 per cent of total subscriptions in Africa, the study said.
Although African economies are still expected to expand in 2009, analysts fear the growth rate will be slower than the increase in population.
Other Stories
Increased World Bank funding for Jamaica
The resurgence of NCB Capital Markets
Digicel's profits and subscribers continue to grow
Mayday Air Jamaica takes stand against Spirit Airlines' bid to purchase Air J
LIME Ja posts J$1.3 billion loss in Q3, but sees Internet and data growth
Rituals Coffee to set up shop in Jamaica
Virgin America expands to Florida
Caricom chairman lobbies FAO to support the region's agriculture initiative
US economy will grow in the final quarter of 09 — Obama
Claro's parent América Móvil: One of the world's best companies - says Business Week
Former Barbados PM says CSME 'was never going to be easy'
RSS Feeds