ECONET Limited Company through their Subsidiary Liquid Telecommunications (Jersey) Limited holds an investment that is valued at over US$135 million, this was revealed in the firm’s financial trading update for the second quarter and half year period ending 31 August 2020.
“The Company holds an investment in Liquid Telecommunications (Jersey) Limited (“Liquid Telecom”), which is valued at over US$ 135 million. Liquid Telecom owns and operates Africa’s largest cross border fibre network spanning over 73,000 km’s from Cape Town to Cairo.
“Through its subsidiary, Africa Data Centers, Liquid Telecom is also Africa’s largest data center operator. Our investment in Liquid Telecom is valued in US Dollars at a level higher than our,” revealed the company.
The Company’s digital transformation roadmap leverages on technology to deliver innovative solutions that respond to customer needs and deliver value.
Investment in the telecoms market has continued to rise globally, with Liquid Telecom leading the way in Africa where it secured several major deals during back in 2016.
The Liquid Telecom’s agreement to buy South African communications network operator Neotel for ZAR6.55 billion (USD460 million), as well as its recent telecoms joint-venture with utility company Botswana Power Corporation (BPC).
Meanwhile, the company has invested in opportunities in business process outsourcing, enterprise solutions, connected services, gaming and music. Biometric solutions are being implemented to mitigate against fraud.
“The Company implemented an aggressive cost reduction strategy which required all suppliers to reduce costs by 20%. The operating margins of the company remain positive at about 40% EBITDA (Earnings before Interest Depreciation Tax and Amortisation). The drive towards revenue sustainability whilst managing costs has allowed the business to remain cash flow”, adds the report.
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