Zimbabwe changes tax regulation on data, smartphones

Market research shows telecommunications attracted the second highest number of FDI projects last year, after business services.

Equity capital raised from CAPE IV, a fund managed by leading Africa focused private equity fund manager, African Capital Alliance.

High expectations that the IPO would be well subscribed.

Company secures approval from the Securities and Exchange Commission.

Industry appeals to authorities to cut taxes and remove duties levied amid increasing economic pressure.

Investment round led by VestedWorld, a Chicago and Africa-based investment firm with Interswitch, and Rising Tide Africa, among others.

Company announces investment target of between US$1.5bn and US$2bn.

Group also acquires strategic stake in CIVH assets to establish InfraCo entity.

The IT services firm completes its spin-off from IBM and begins trading as an independent company on the New York Stock Exchange.

Fund will be used to support platform capacity, as well as company’s international expansion in new markets such as Nigeria and Cameroon.

Group chairperson, Sherree Shereni attributes the drop in revenue to the firm’s diversification strategy.

Marius Reitz believes it will take some time before the currency gains traction in the market.