Profile takes stake in MTN Namibia
Profile Technologies has bought a 30% stake in MTN Namibia, subject to regulatory approval.
Profile Investment Holdings and its ICT arm, Profile Technologies, have acquired a 30% stake in MTN Namibia.
The deal, which is still subject to approval by the Namibian Competition Commission (NaCC), was announced by the two companies in Windhoek yesterday.
Profile Investment Holdings is owned by local business magnate Vaino Nghipondoka.
Should MTN get the approval from the competition's watchdog, it will pave the way for MTN's first local empowerment partner.
“The partnership allows us to create efficiencies and converged solutions, while creating service offerings for both fixed and mobile telecommunications services, aimed at corporate and small and medium enterprise customers,” said MTN Business Namibia MD, Elia Tsouros. In a joint statement, the two companies said the deal will result in an increased services basket of information communications technology products and services to the market.
The merger will create one of the largest information communication technology companies locally with significantly enhanced service offerings for enterprises and consumers.
Profile Technologies will cease to operate as an independent entity, and will be merged into the operations of MTN Business Namibia. The new company, which will trade as MTN Namibia, will result in Profile Investment Holdings taking up two board seats, with the remaining three taken up by representatives of the MTN Group. Although the company has been operational since 2010, it has worked on some of the biggest information technology projects, which includes the computerisation of the national registry with the ministry of home affairs, the ministry of safety and security's e-policing system and the installation of security cameras at flash points around the City of Windhoek.
Profile is currently implementing the Integrated Tax Administration System for the ministry of finance, one of the biggest information communication projects undertaken.
OGONE TLHAGE
The deal, which is still subject to approval by the Namibian Competition Commission (NaCC), was announced by the two companies in Windhoek yesterday.
Profile Investment Holdings is owned by local business magnate Vaino Nghipondoka.
Should MTN get the approval from the competition's watchdog, it will pave the way for MTN's first local empowerment partner.
“The partnership allows us to create efficiencies and converged solutions, while creating service offerings for both fixed and mobile telecommunications services, aimed at corporate and small and medium enterprise customers,” said MTN Business Namibia MD, Elia Tsouros. In a joint statement, the two companies said the deal will result in an increased services basket of information communications technology products and services to the market.
The merger will create one of the largest information communication technology companies locally with significantly enhanced service offerings for enterprises and consumers.
Profile Technologies will cease to operate as an independent entity, and will be merged into the operations of MTN Business Namibia. The new company, which will trade as MTN Namibia, will result in Profile Investment Holdings taking up two board seats, with the remaining three taken up by representatives of the MTN Group. Although the company has been operational since 2010, it has worked on some of the biggest information technology projects, which includes the computerisation of the national registry with the ministry of home affairs, the ministry of safety and security's e-policing system and the installation of security cameras at flash points around the City of Windhoek.
Profile is currently implementing the Integrated Tax Administration System for the ministry of finance, one of the biggest information communication projects undertaken.
OGONE TLHAGE
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