The cash will be used to settle a loan in its Africa unit, which has battled with poor results.

The company wraps up a deal to buy most of its partner`s stake in Egyptian mobile operator Mobinil for 1.5 billion euro.

Venture Lab plans to invest in start-ups focused on financial services, social media platforms or embedded financial services.

EMEA represents €7 billion of SAP`s revenue, and it is bullish about increasing market share in the region.

Egypt`s Orascom Telecom Media Technology hopes to wrap up negotiations with France Telecom within a few weeks.

The bank`s customers in that country now have access to a mobile money service to transfer cash.