WARID owner to talk with prospective partner
Jul 21, 2009
DHABI Group, the owners of Uganda’s WARID Telecom, and the Essar Group are to start discussions about an investment by Essar Group into the telecommunications portfolio of Dhabi’s African assets.
By James Odomel
DHABI Group, the owners of Uganda’s WARID Telecom, and the Essar Group are to start discussions about an investment by Essar Group into the telecommunications portfolio of Dhabi’s African assets.
According to a statement, the transaction will involve an equity infusion into these businesses as growth capital and will be the basis of a partnership to create a significant presence in Africa.
Standard Chartered Bank is acting as financial adviser to the Dhabi Group. The Dhabi Group chairman, Sheikh Nahayan Mabarak Al Nahayan, led a consortium of investors composed of private equity and family officers in the region.
The group has diversified business interests with a focus on emerging market opportunities in financial services, telecommunications and real estate.
Dhabi Group and its consortia have banking interests in Asia. Its portfolio was expanded in 2005 to include telecommunication services in Asia and Africa. Other business interests include real estate development, hotels, oil-related services and manufacturing.
The group aims at strengthening its reach and diversify its portfolio through a series of strategic partnerships that will help optimise its potential in the emerging markets.
Essar has interests in telecommunication services, spanning mobile telephony, telecom tower infrastructure, telecom retail and information and communications technology (IT)/telecom enabled services.
The company holds a 33% interest in Vodafone Essar, which is a joint venture with the Vodafone Group. Vodafone Essar is one of India’s largest cellular service providers, with over 75 million subscribers.
Essar operates an outsourcing services business under the Aegis brand, with over 33,000 employees across 32 delivery centres in the Philippines, Costa Rica, USA, Africa and India.
WARID Telecom, which launched its services in Uganda in 2007, was the fourth telecom company to enter the market.
On January 19, 2009, the company won the Investor of the Year Award for investing over $200m since it was licensed by the Uganda Investment Authority.
DHABI Group, the owners of Uganda’s WARID Telecom, and the Essar Group are to start discussions about an investment by Essar Group into the telecommunications portfolio of Dhabi’s African assets.
According to a statement, the transaction will involve an equity infusion into these businesses as growth capital and will be the basis of a partnership to create a significant presence in Africa.
Standard Chartered Bank is acting as financial adviser to the Dhabi Group. The Dhabi Group chairman, Sheikh Nahayan Mabarak Al Nahayan, led a consortium of investors composed of private equity and family officers in the region.
The group has diversified business interests with a focus on emerging market opportunities in financial services, telecommunications and real estate.
Dhabi Group and its consortia have banking interests in Asia. Its portfolio was expanded in 2005 to include telecommunication services in Asia and Africa. Other business interests include real estate development, hotels, oil-related services and manufacturing.
The group aims at strengthening its reach and diversify its portfolio through a series of strategic partnerships that will help optimise its potential in the emerging markets.
Essar has interests in telecommunication services, spanning mobile telephony, telecom tower infrastructure, telecom retail and information and communications technology (IT)/telecom enabled services.
The company holds a 33% interest in Vodafone Essar, which is a joint venture with the Vodafone Group. Vodafone Essar is one of India’s largest cellular service providers, with over 75 million subscribers.
Essar operates an outsourcing services business under the Aegis brand, with over 33,000 employees across 32 delivery centres in the Philippines, Costa Rica, USA, Africa and India.
WARID Telecom, which launched its services in Uganda in 2007, was the fourth telecom company to enter the market.
On January 19, 2009, the company won the Investor of the Year Award for investing over $200m since it was licensed by the Uganda Investment Authority.