The African telecom Major, Liquid Telecom has reportedly inked a procurement agreement with Neotel, a Tata Communications subsidiary in South Africa.
The value of the deal sought to settle for Rs 2,900 crore with Liquid Telecom partnering with Royal Bafokeng Holdings (RBH), a South African empowerment investment group, which has committed to take a 30 percent stake in Neotel.
“Through a single access point, businesses across Africa will be able to access Liquid Africa’s 24,000km of cross-border, metro and access fibre networks. These currently span 12 countries from South Africa to Kenya, with further expansion planned,” an official release said.
“Certain regulatory approvals for the deal in South Africa are still awaited by the companies. 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,” said Vinod Kumar, MD & CEO of Tata Communication.