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SA’s asset management firm Rohatyn Group sells beverage firm to Indian company

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South Africa-based asset management company, Rohatyn Group, has announced the sale of its beverage manufacturing and distribution firm, Beverage Company Proprietary Limited (BevCo), to India-based Varun Beverages Ltd (VBL), the makers of popular fizzy drink, PepsiCo.

BevCo, which was established in 2018 through the acquisition and merger of Little Green Beverages and SoftBev, has consolidated its position as the largest independently owned beverage producer and distributor in South Africa.

BevCo, with a wide portfolio of its own brands and energy drinks as well as franchise rights from PepsiCo in South Africa, Lesotho, and Eswatini, and distribution rights for Namibia and Botswana,
operates five manufacturing facilities across South Africa with an installed capacity of 3,600 bottles per minute.

BevCo CEO, Peter Spies, who announced the deal, said in a statement:

“Management and shareholders had a clear long-term aspiration for the business and remained focused on accelerating the execution of new revenue streams and building scale, while retaining alignment with key stakeholders.

“The sale of BevCo to Varun Beverages has proven that scaled South African businesses have the potential to attract global trade players to the continent.”

Also reacting to the deal, Glynn Potgieter, Managing Director at TRG, and board member of BevCo, said:

“The macro conditions in our markets continue to pose challenges to sale processes.

“We believe successful realization strategies require years of strategic planning and building businesses that have unique, identifiable, and realizable value to a known universe of acquirers.

“We are convinced that successful exit processes in these challenging markets require skilled negotiation, resilience, tenacity, and, above all, a collaborative mindset.

“Since 2018, the number of total employees at the company has increased nearly four times, and the company reached gross sales of approximately 63 million cases per year.

“The product offering also expanded, adding the manufacturing and distribution of PepsiCo brands in the region.

“The company has achieved growth through innovation in its products and services, regional expansion, and a focus on sustainable business practices.”

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Again, Starlink raises prices of its services in Nigeria

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Elon Musk’s satellite internet service provider, Starlink, has again jacked up the prices of its services in Nigeria after an earlier increase caused uproar among customers.

The service provider, in a statement released on Friday, informed its Nigerian customers that it would raise its monthly subscription prices, with the new rates set to take effect on January 27, 2025.

Under the new pricing regime, the lowest subscription tier will increase significantly from ₦38,000 to ₦75,000 per month, while mobile global roaming service will now cost ₦717,000 monthly.

The company stated that new subscribers will immediately pay the adjusted prices while existing customers will see the changes reflected in their upcoming bills.

In an email sent to users, Starlink said:

“To continue enhancing the Starlink network and provide reliable, high-quality service across Nigeria, we are adjusting our monthly subscription prices.

“These changes are part of our ongoing commitment to investing in the infrastructure needed to improve your experience with Starlink.”

This is the second time Starlink has attempted a price hike in Nigeria. The Nigerian Communications Commission (NCC) has rejected its previous increase in October on the grounds that the company had not sought the necessary regulatory approval.

However, insiders believe the NCC is set to approve an increase in the first quarter of 2025, which gives credence to insinuations that Starlink may have gotten an approval for the price increments.

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Safaricom Ethiopia launches 4G network in Gambella

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Ethiopia’s second largest telecom provider, Safaricom Telecommunications Ethiopia P.L.C., has announced the official launching of its 4G network services in Gambella and other surrounding areas.

The launching of the 4G network in the region, according to Safaricom Ethiopia CEO, Wim Vanhelleputte, highlighted the significant impact that enhanced telecommunications infrastructure could have on the region’s social and economic progress.

“In line with our commitment to digital education, Safaricom Ethiopia donated 20 laptops and 4 routers, including six months of free internet, to two high schools in Gambella City, supporting digital literacy and educational opportunities for local students,” Vanhelleputte stated.

Vanhelleputte reaffirmed Safaricom Ethiopia’s commitment to expanding its reach and ensuring that more regions gain access to reliable and high-speed internet.

“The introduction of the 4G network in Gambella is designed to deliver significant advantages to the local community,” he said .

“Enhanced connectivity will open doors to better access to information, education, and healthcare services. Additionally, it will create new opportunities for businesses and entrepreneurs, driving economic growth and development within the region.

“Safaricom Ethiopia’s move into Gambella aligns with its broader strategy to extend 4G coverage to more areas, furthering its mission of fostering nationwide connectivity,” the CEO added.

Alemitu Oumud, President of the Gambella Region who also spoke at the event, stated that, enhanced infrastructure is driving positive social and economic growth in our region.

“We commend Safaricom Ethiopia for its contributions to job creation, improving connectivity, and making Gambella a more attractive destination for investment,” Oumud said.

He stressed the potential of the new 4G network to drive business activities, attract investments, and foster entrepreneurship in the region.

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