IT and Telecoms: SA Firm Increases Stake in Kenya’s KDN
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SA’S technology group Allied Technologies ( Altech ) will increase its economic stake in its East Africa unit, Kenya Data Networks (KDN), to 60,8% from 51%, according to the company.
Altech, one of Africa’s biggest connectivity providers, added that it would invest a further $39,5 million to build KDN’s fibre optic network.
Altech, which expects R500 million cash flow by year-end, said it would invest a further $7,5 million in KDN to build a data centre in Nairobi, Kenya, with its co-shareholder in KDN, the Sameer Group...
The full article can be found here at BusinessDay.co.za
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