TradeInvestNigeria Staff
Posted on: Tue, 10 Jun 2008
South African fixed line operator Telkom is planning to focus on business opportunities in Africa to offset the challenges currently experienced in South Africa's business environment.
Telkom disclosed that it will invest US$533-million in its Nigerian subsidiary Multi-Links. Telkom has a 75% stake in the Nigerian private telecommunications operator and is looking to strengthen the company’s standing in the market.
Multi-Links offers voice, internet and other value added services. From September to the end of March Multi-Links increased its subscribers from 263 000 to over 1 million. During the past financial year the company contributed R49 million to Telkom's profit after tax.
Nigeria is a high growth market and the growth of Multi-Links is expected to continue.Telkom CEO Reuben September has been quoted saying "there is potential for Multi-Links to become the jewel in the Telkom crown."
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