Another African IPO

1:10 PM -- It looks like Safaricom Ltd. may have started a trend... (See IPO Success in Africa.)

Only two days after the Kenyan mobile operator began trading on the Nairobi Stock Exchange, Celtel Zambia Plc, part of the expanding Zain Group emerging markets empire, floated 20 percent of its stock on the Lusaka exchange.

See this Bloomberg story for the full lowdown.

While India and China are grabbing a lot of the attention with their high monthly mobile subscriber additions, Africa also has a lot of growth potential, and that's attracting a lot of attention. (See Telkom SA in M&A Talks, Etisalat Ups Africa Investment, Orascom Scopes Out Africa, GSMA Touts Africa Growth, Africa Adds 65M Subs in 2007, and Top 10 Emerging Mobile Markets 2007.)

— Ray Le Maistre, International News Editor, Light Reading

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