MTN Cote d'Ivoire acquires Arobase Telecom and Afnet
The MTN Group, through its Cote d'Ivoire subsidiary, is pleased to announce that it has acquired 100% of Arobase Telecom S.A. as well as 100% of Afnet.
Created in 2001, Arobase Telecom is the second land line operator in Cote d'Ivoire. The company signed a concession agreement with the State of Côte d'Ivoire which allows it to offer data services using fibre optic, wireless local loop and CDMA technologies.
Launched in 1997, Afnet is one of the leading Internet Service Providers in Côte d'Ivoire and offers wireless broadband technology and data services to the general public. Afnet benefits from a solid reputation among the corporate market.
The acquisitions are in line with MTN's stated strategy to provide integrated communications solutions in all its markets. They follow similar acquisitions in Nigeria, Cameroon, Cyprus and South Africa.
Says MTN Group President and CEO, Mr Phuthuma Nhleko: “These acquisitions reflect the progress we are making towards consolidating our business. We believe both Afnet and Arobase will add value to MTN and support our strategy to ensure that the Group is well positioned to benefit from a rapidly converging technology market.”