Telkom SA buys MWEB

11 Nov 2008

Telkom South Africa is to acquire 100% of internet service provider MWEB Africa and 75% of MWEB Namibia from media group Naspers for ZAR610 million (USD63 million) as it looks to expand its businesses outside its domestic market. The deal also covers MWEB’s satellite internet business AFSAT but does not include MWEB South Africa. MWEB Africa has internet operations in Nigeria, Kenya, Tanzania, Uganda and Zimbabwe, an agency arrangement in Botswana and distributors in 26 Sub-Saharan African countries, Reuters reports. Telkom already owns Nigeria’s Multi-Links and Kenya’s Africa Online. ‘Expanding beyond the borders of SA provides Telkom with an opportunity to become less dependent on domestic revenue streams,’ said Telkom CEO Reuben September.