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.
Simon Fox, 16 June 2008