Related Articles
Top Stories
May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - South Africa's technology group Allied Technologies (Altech) said on Tuesday it would increase its economic stake in its East Africa unit, Kenya Data Networks (KDN), to 60.8% from 51%.
Altech, one of Africa's biggest connectivity providers, added that it would invest a further $39.5m to build KDN's fibre optic network.
Altech, which expects R500m cash flow by year-end, said it would invest a further $7.5m in KDN to build a data centre in Nairobi, Kenya, with its co-shareholder in KDN, the Sameer Group.
The group said the data centre would offer disaster recovery, virtual application hosting, data and application backup, and an ethical hacking centre and data archiving facility to clients in the areas that will be connected by the planned undersea cables.
"KDN is central to our strategy and our gateway to East Africa. Our further investment in this business, is evidence of our confidence that the continent and in particular East Africa is poised for massive growth," Altech's CEO Craig Venter said.
Altech's east Africa operations made about R114m and about 20% of group earnings in the year to end February 2008.
- Reuters