Visabeira Global, from Portugal, has acquired 51% of the shares of Companhia Santomense de Telecomunicações (CST), previously held by Africatel Holding.
In a joint statement, Visabeira Global and CST state that the deal – whose value was not disclosed – “is the guarantee of participation [by Visabeira] in the operation of a company with a vast curriculum in the area of telecommunications, ranging from the project structuring and installation to maintenance of fixed and mobile networks, including state-of-the-art networks”.
“With Visabeira Global, CST is committed to contributing decisively to the country’s development, maintaining a strong commitment to the State of São Tomé”, the statement adds.
CST began its commercial activity in 1990, and currently has a 100% market share in the fixed service and 83% market share in the mobile network, having a network of 12 stores and 800 points of sale distributed throughout the islands and ensuring, through 2G and 3G networks, coverage of 93% of the population.
CST also holds 74.5% of STP Cabo, a company that participates in the ACE submarine cable consortium that links the West African coast to Europe.
According to the companies, with the entry of Visabeira Global in CST, the priorities will be to boost fixed and mobile Internet services, modernize the 2G/3G network, invest in 4G to improve the service and offer broadband throughout the territory and expand the fiber optic network for district capitals and areas with tourist establishments.
Other “main strategic axes” are to make CST “the first ‘Mobile Money’ operator, occupying the existing payment and transfer services” business, investing in ‘PayTV’ services, either through the GPON network or with OTT on the 4G network, and develop new products and services.
With this deal, Visabeira Global highlights “its position as a telecommunications operator in the Portuguese-speaking world, adding its stake in CST in São Tomé e Príncipe to the stakes it holds in TV Cabo Moçambique and TV Cabo Angola”.
“Visabeira Global, through its subsidiaries, develops a posture of global service, transversally adopted by all its brands in different markets and geographies”, reads the statement, which highlights the “strong presence” of Visabeira Global companies in the European continent, in the USA, India and in the African continent, in Angola, Mozambique and Morocco.