Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Vodafone and Afrimax Group (“Afrimax”) – a 4G LTE telecommunications operator in sub-Saharan Africa on Tuesday jointly announced a strategic framework agreement to cooperate and explore opportunities for Partner Market agreements in the region. Also, Vodafone has announced a Partner Market agreement in Uganda with Afrimax.
Under the non-equity framework agreement, Vodafone and Afrimax will explore potential Partner Market opportunities in a variety of territories in sub-Saharan Africa.
Under the Partner Market agreement in Uganda, the two companies will offer customers voice and data products and services using the ‘Vodafone Uganda’ brand. Vodafone’s multinational corporate customers will benefit from the addition of Uganda to their existing contracts for international managed services.
Vodafone Partner Markets Chief Executive Stefano Gastaut said, “Uganda is an attractive market and we are delighted to welcome Afrimax to our successful Partner Markets community, which already operates in more than fifty countries. We look forward to exploring the potential for further Partner Market agreements in sub-Saharan Africa with Afrimax, under our framework cooperation agreement.”
Afrimax management Peter Langkilde, CEO and Rob Philpott, CFO commented, “We are excited about the partnership with Vodafone and the opportunity to work with a brand that is not only passionate about technology, but passionate about people and the impact that technology can have on peoples’ lives. The partnership with Vodafone solidifies our ongoing plans to be a leading provider of high speed network services in sub-Saharan Africa.”
The framework agreement will complement Vodacom Group’s operations in South Africa, Tanzania, the Democratic Republic of Congo, Lesotho and Mozambique and has been agreed in conjunction with Vodacom Group.