Simon Fox, 16 June 2008
The telecoms scene in Africa is changing rapidly as evidenced by the recent IPOs on African stock exchanges for shares in major cellular operators. Celtel Zambia sold 20% of its equity on the Lusaka Stock Exchange whilst Safaricom, part owned by Vodafone Kenya, released 25% of its shares on the Nairobi Stock Exchange. After these IPOs the Zain Group’s stake in Celtel Zambia stands at 78.9% and Vodafone now owns 35% of Safaricom.