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Best Practices voor een duurzame toekomst
26 november 2005

Celtel awarded for investing in Africa

Africa Investor is the leading African investment magazine, and its jury for the yearly awards is chaired by Bamanga Tukur, executive president of the African Business Roundtable. The deal Celtel received praise for, was selling 85 percent of the shares to MTC Kuwait, thus "bringing Middle-Eastern wealth from oil revenues to Africa, enabling us to make new investments," as Martin de Koning, corporate communications director of Celtel puts it. Celtel is particularly satisfied with this 'infrastructure deal of the year', because its initial investors such as the Dutch, British and German development banks, now have a good return of investments, which, as Celtel hopes, will raise confidence among commercial banks. Martin de Koning: "When we started in 1998, commercial banks were quite hesitant. Now they will see that Foreign Direct Investment in Africa pays off. And FDI is what Africa needs - less aid and more commercial partners!" The awards of Africa Investor are designed to reward companies, organizations and individuals for investing in Africa in a socially and environmentally responsible way. Celtel, operating in very complex business environments, has from the very start made a point of operating in a transparent and legitimate way. The company is also enrolling an AIDS-program in the thirteen countries where it has operations. The program, in partnership with the NGO PharmAccess and the Dutch Ministry of Foreign Affairs, delivers prevention and treatment to all employees and their relatives. Martin de Koning: "The program is now operational in five countries, and the others will follow soon." Celtel's CEO, Marten Pieters, who attended the awards ceremony this week in Johannesburg, South Africa, said: "The award recognizes the importance of continued and increased investment into Africa which is so important for growth and stability on the continent. Celtel and MTC are very bullish about the opportunities African markets offer which is reflected in our growth of more than 50 percent per annum. We will continue our efforts to make life better for all our customers in line with our brand promise." P+ Webtip: Celtel in Africa
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