Allied Technologies Ltd. (ALT), a South African manufacturer of television set-top boxes, said it’s seeking a partner to help fund its operations in East Africa.
“We are at an advanced stage of seeking a partner with the additional capital to be used for expanding the data center and the regional network,” Tim Ellis, Altech’s chief executive officer for the region, told reporters today in Nairobi, Kenya’s capital.
Altech owns 60.8 percent of Altech KDN Ltd., a joint venture with Sameer Group, a Kenyan investment company that owns the remaining 39.2 percent.
“We have invested an estimated 3 billion shillings in the operation and we are looking to further boost that with a deal expected by year-end,” Ellis said.
To contact the reporter on this story: Johnstone Ole Turana in Nairobi at firstname.lastname@example.org
To contact the editor responsible for this story: Paul Richardson at email@example.com