Millicom International has sold 729 towers belonging to its Tigo subsidiary in the Democratic Republic of the Congo to Helios Towers. As a result of the transaction, Tigo DRC will receive at least US$45 million of cash up front and will retain a significant minority interest in Helios Towers’ local holding company.

Additionally, Tigo DRC and Helios have entered into a long-term leasing agreement whereby Helios will provide Tigo DRC with access to wireless communications towers and a build-to-suit agreement to support the company’s wireless networks. Helios will seek similar agreements with other operators in DRC. The transaction is expected to create savings in both capital and operating expenditure for Tigo DRC.

“This agreement with Helios in DRC is Millicom’s third such deal with the company in Africa and it brings us to a point where nearly two-thirds of our towers in Africa are committed to be outsourced,” said Mikael Grahne, president and CEO of Millicom. “We view the DRC as a very attractive market for asset sharing considering its size, lower average purchasing power and logistical complexities. We are confident that this and similar previously announced ventures will continue to produce satisfactory results and improved service levels as we have experienced in Ghana since the creation of the first tower joint venture in Africa with Helios in January 2010.”

Qtel has introduced a mobile money programme that will provide people in Qatar with a comprehensive suite of financial services available via the mobile phone.

The new portfolio of services, called Qtel Mobile Money, has been designed to provide financial services to people whether or not they hold a bank account. Qtel is working with QNB to deliver security and convenience for customers of the new Qtel Mobile Money services.

Qtel’s Mobile Money services have been tested and enhanced throughout 2010, with all funds used in the services being held in trust by QNB.

Following the successful launch of international airtime credit transfer in October 2010, which enables Qtel customers to transfer credit to India, the Philippines, Pakistan, Indonesia, Nepal, Bangladesh and Sri Lanka through an established airtime network, the telco has been looking to expand the range of financial services it offers.

In the near future, people in Qatar will be able to send money and credit as easily as an SMS. The range of services planned for launch in 2011 include instant cash transfers, cash payments to shops via mobile, and cash withdrawal from ATMs using Qtel Mobile Money accounts.

MTN Group has appointed Sifiso Dabengwa as its chief executive officer and president to replace Phuthuma Nhleko, effective March 31, 2011.

Dabengwa, MTN’s current chief operating officer, has been with the group for 11 years.

Prior to joining MTN Dabengwa was an executive director at state power utility Eskom.

He has held senior management positions at MTN and managed the company’s two biggest units, Nigeria and South Africa.

MTN also said in a statement that the position of chief operating officer has been abolished and instead it will appoint a new chief executive of its international operations.

The company also said that Nhleko had accepted the board’s invitation to become a non-executive vice-chairperson and non-executive chairperson of yet-to-be established MTN international operations board.

Etisalat is planning to cut around 300 jobs, or about three per cent of its workforce to reduce costs, reports local newspaper, The National. The company’s staff bill has risen by 4.9 per cent over the past nine months.

Faiez Awadh, Etisalat’s senior vice president of human resources said that the cuts would be “focused on productivity, performance, age and redundancy factors”.

“Etisalat has embarked on a limited employee retrenchment programme, which has impacted less than three per cent of staff. Naturally, within a corporation that has been in existence for more than three decades, we can expect an element of natural re-organisation to occur,” he told the newspaper.

The job cuts will be focused on Etisalat’s UAE operations, although the operator plans to continue to hire staff for its international operations. The company has a workforce of 10,460 in the UAE, with a further 6,220 at its overseas subsidiaries.

Etisalat may settle for a significant minority stake in Kuwait’s Zain Group after opposition from some shareholders to a takeover threaten to delay the sale. The UAE operator was in talks to buy a 46 per cent stake in Zain, from a consortium led by the Kharafi Group conglomerate. However, citing two unnamed sources close to the deal, Reuters said that stake had now been cut to 40 per cent.

The delay comes from action by the Al Fawares Holding, which owns a 4.5 per cent stake in Zain, which has launched legal action to halt the due diligence in the planned sale. A ruling on their action is not due until December 22.

Although the initial deal may be for just 40 per cent of the company, Etisalat could still build up its stake over time to secure majority control.

“Please note that we do not comment on market rumours and we have not yet issued any official statement on this regard yet,” Etisalat chairman Mohammed Omran said in a statement.