Another BRICS in the wall? AKADO agrees to construct African broadband networks

2 Apr 2013

In a deal struck at the fifth annual BRICS summit in Durban – attended by the heads of government of the five member states Brazil, Russia, India, China and South Africa – Moscow-based AKADO Telecom reported signed a contract with South Africa’s Afritel to cooperate on the roll out of broadband networks in South Africa and Mozambique. Agence Ecofin notes that representatives of parent company Renova Media also inked separate deals relating to alternative energy, port construction and mining, while in attendance at the BRICS conference.

AKADO Telecom is said to be majority owned by US-based firm Moscow CableCom Corp (MOCC), which has itself been wholly owned by Russian private equity investor Renova Media Enterprises since July 2007.

Mozambique, South Africa, AKADO Telecom