• Business Day (South Africa): Emerging markets

telecoms, financial sectors and companies providing products from toothpaste
to deodorant.The continent is also becoming more stable, both
financially and politically.It is worth noting that two African
countries - Libya and Algeria - actually make it on to the World Economic
Forum's list of stable countries. Also figures from the fund
manager Investec show that Africa is largely uncorrelated to other
investment markets.So if you think there may be troubles ahead for
the booming markets in the rest of the world, it might not be unreasonable
to start thinking of Africa as something of a safe haven.Africa is
still an emerging market and this makes it such an exciting investment.
However, it is a risky investment; it may provide attractive returns but
equally it may produce substantial losses.If Africa manages to
maintain its recent growth for another decade, the continent could be
transformed. It will no longer be seen as a trap for the world's poor but
instead be likened to the rapidly developing countries of Asia.If
Africa can achieve such a transition, it will be a huge boost to both the
Africans and the world.A number of funds already exist that allow
individuals the ability to access investments based in this continent.
Some are reserved for specific industries, such as mining, while others will
be more general and cover a wider range of sectors and investment
opportunities. As I stated earlier, however, whilst there would
appear to be the prospect of good growth from these investments, because of
their nature some volatility should be expected. As a result, like
any form of investment, you should fully understand the risk involved before
committing monies to any of these funds, and they should only make up part
of your overall balanced portfolio.Raymond Mulligan is
managing director of Johnston Campbell, a company of independent financial
advisers regulated by the Financial Services Authority.
Document WBEL000020071115e3bf0000e

Rural Telephony, a Drain Pipe - NASS
by Chuks Ohuegbe

824 words

12 November 2007

09:42 AM

All Africa

AFNWS

English

(c) 2007 AllAfrica, All Rights Reserved
Abuja, Nov 12, 2007 (Leadership/All Africa Global Media via COMTEX) -- The National Assembly has raised alarm over poor returns on contracts on rural telephony, labelling the multi-million dollar project as a conduit pipe.
Consequently, the law makers have declared their intention to review the subsisting contract.
The first and second phases of the rural telephony project were awarded to Chinese firms by the Obasanjo administration.
The chairman of the House of Representatives Committee on Communications, Honourable Jerry Manwe, disclosed this at the weekend after the minister of information and communications, Mr John Odey, appeared before the committee to give a brief on the state of telecommunications in the country.
In his brief, the minister stated that the rural telephony programme was as a result of the bilateral relationship between the People's Republic of China and Nigeria.
He said, "A memorandum of understanding was signed between the governments of the two countries in 2001, as a result of which the execution of the first phase had commenced with a coverage area of 218 locations across the country.
"The execution of this phase was unavoidably delayed due to problems ranging from late release of the requisite down payments of 15% after signing the contract agreement in July 2002 to late commencement of work by ASB in May 2004 and ZTE in May 2005.
"The current status of this phase reveals that all the 108 locations for the Fixed Line Exchange system have been completed by the company. What remains to effect their take-over is the interconnection and co-location fee, which is the responsibility of government.
The Minister added that over N700 million would be needed to be paid to interconnect the first phase of the projects.
"The ministry is now examining different options on how to source the required funds for the interconnection and co-location of the network, preparatory to its handover to private operators.
"As regards the Fixed Wireless System, 107 BTS have been completed. Of the three outstanding, one at Awodimili in Imo State has problem of communal dispute as result of which the equipment cannot be installed unless it is resolved.
"The other two in Kuje, FCT Abuja and Tede in Oyo State, their equipment are being used for demonstration purposes at the Switch Centres after which they will be installed in their respective locations.
"Furthermore, work is expected to be completed in the Kaduna and Kano Main Switching Centres (MSCs) latest this month. The MSCs in Bauchi, Ibadan and Enugu have already been completed.
However, due to land acquisition problem in Rivers State and FCT, work on the two MSC's in these two locations are yet to start.
"Regardless of the delay in the wireless system, we have already tested and confirmed that its operational status is quite in order."
Speaking on the second phase, the minister pointed out that the contract for the second phase of the programme was awarded in November and December 2006 after an initial approval by the immediate past president and subsequent approval by the Federal Executive Council during its meetings in the same months.
He said, "it is noteworthy that the award of this contract was also based on the fact that the National Rural Telephony Project is a programme that has its components as projects.
"It was therefore conceived to be continuous in its implementation until the whole phases are covered.
In his comment, the chairman of the committee stated that the National Assembly was out to collaborate with the minister and the executive to ensure that Nigerians are well served.
He pointed out that the investigations carried out by the members of committee showed that the performance profile quoted by the firms on paper were not met in physical terms.
He said, "Some of us here would like to be seen to be doing our job. The members of this committee are ready to give you all the legislative backing.
"The rural telephony project is a conduit-pipe and we cannot allow such to go away. So we are going to request you to supply us the payment schedule and other relevant documents on this.
"We cannot understand why money should be released for the second phase if you have not completed phase one. Again why pay in dollars when the agreement was made in Nigeria? The entire thing is hazy. We will dig into the root of this matter and whoever is involved will be brought to book."
The committee also pointed out that the ministry should look into the operations of the GSM companies in Nigeria with a view to reviewing their licences.
"The GSM companies are milking us. The Federal Government has been very magnanimous. We gave them waivers for five years and what we waived for them is twice the amount of money they used for their licences. We have to review the licences."
Document AFNWS00020071112e3bc0013k

Nass to Review $400 Rural Telephone Project
by Hamisu Muhammad

621 words

12 November 2007

11:40 AM

All Africa

AFNWS

English

(c) 2007 AllAfrica, All Rights Reserved
Nov 12, 2007 (Daily Trust/All Africa Global Media via COMTEX) -- Indications have emerged that the National Assembly will soon start the process of reviewing the Multi-Million Dollars Rural Telephony Project embarked upon by the previous administration of Chief Olusegun Obasanjo.
The project worth over $400 (about N50 billion) was awarded to Chinese telecommunications companies including Huawei Technologies, ZTE Shanghai Bell which will facilitate access to information and communications as well as telephone lines to rural communities.
Daily Trust learnt that progress has been made on the first phase of the project, financed by the Chinese Government through a US$200 million concessionaire loan to Nigeria.
Rotimi Ajayi, Special Assistant (Media) to the minister of information and communi-cations said through a statement that the idea is to make the project more effective and to have value for money and make the project potentially viable for privatization.
He said the first and second phase of the project were awarded to Chinese firms before the inception of this administration.
Ajayi quoted the Chairman of the House of Representatives Committee on Communications, Mr. Jerry Manwe who said at the weekend after the Minister of Information and Communications, Mr John Odey appeared before the Committee to give a brief on the state of telecommunications in the country, that the review is necessary for the development of the rural areas.
In his brief, the Minister stated that the Rural Telephony Programme was as a result of the bilateral relationship between the People's Republic of China and Nigeria.
He said, "a memorandum of understanding was signed between the governments of the two countries in 2001 as a result of which the execution of the 1st phase had commenced with a coverage area of 218 locations across the country.
"The execution of this phase was unavoidably delayed due to problems ranging from late release of the requisite down payments of 15% after signing the contract agreement in July 2002 to late commencement of work by ASB in May 2004 and ZTE in May 2005.
"The current status of this phase reveals that all the 108 locations for the Fixed Line Exchange system have been completed by the company. What remains to effect their take-over is the interconnection and co-location fee, which is the responsibility of Government.
The Minister however added that over 700 million Naira would be needed to be paid to interconnect the first phase of the projects.
In his comments, the Chairman of the Committee stated that the National Assembly was out to collaborate with the Executive to ensure that Nigerians are well served.
The Chairman pointed out that the investigations carried out by the members of Committee showed that the performance profile quoted by the firms on paper were not met in physical terms.
He said, "Some of us here would like to be seen to be doing our job. The members of this committee are ready to give you all the legislative backing.
"The rural telephony project is a conduit-pipe and we cannot allow such to go away. So we are going to request you to supply us the payment schedule and other relevant documents on this.
"We cannot understand why money should be released for the second phase if you have not completed phase one. Again why paying in dollars as when the agreement was made in Nigeria. The entire thing is hazy. We will dig into the root of this matter and whoever is involved will be brought to book."
The Committee also pointed out that the Ministry should look into the operations of the GSM companies in Nigeria with a view to reviewing their licences.
Document AFNWS00020071112e3bc001da

CPSL, LOGI, MEMY, CHMD, EAGB, GTEC Have Also Been Removed From Naked Short List Today
2,049 words

6 November 2007

M2 Presswire

MTPW

English

(c) 2007 M2 Communications, Ltd. All Rights Reserved.
BUYINS.NET, www.buyins.net , announced today that these select companies have been removed from the NASDAQ, AMEX and NYSE naked short threshold list: China Precision Steel Inc. (NASDAQ: CPSL), Logitech International S.A. (NASDAQ: LOGI), Memory Pharmaceuticals Corp. (NASDAQ: MEMY), China Media Group Corp. (OTCBB: CHMD), Eagle Broadband Inc. (OTCBB: EAGB), Genesis Technology Group Inc. (OTCBB: GTEC). For a complete list of companies on the naked short list please visit our web site. To find the SqueezeTrigger Price before a short squeeze starts in any stock, go to www.buyins.net .
China Precision Steel Inc. (NASDAQ: CPSL) a steel processing company, engages in the manufacture and sale of high precision cold-rolled steel products in China. The company produces and sells precision ultra-thin and high strength cold-rolled steel products with thicknesses ranging from 7.5 mm to 0.03 mm. It also provides heat treatment and cutting of medium and high carbon hot-rolled steel strips. The company's precision products are primarily used in the manufacture of automobile parts and components, plane friction discs, appliances, food packaging materials, saw blades, textile needles, microelectronics, packing, and containers. It sells its products in China, Nigeria, Thailand, Indonesia, and the Philippines. China Precision Steel was incorporated in 2002 and is headquartered in Sheung Wan, Hong Kong. With 37.38 million shares outstanding and 1.77 million shares declared short as of October 2007, there is no longer a failure to deliver in shares of CPSL.
Logitech International S.A. (NASDAQ: LOGI) engages in the design, development, production, marketing, and support of personal interface devices for personal computers (PCs) and other digital platforms. Its personal peripheral products include PC navigation devices, such as corded and cordless mice, trackballs and keyboards, and 3D control devices; Internet communication devices, such as Webcams and headsets; digital music devices, including speakers, headphones, and wireless music systems; advanced remote controls for home entertainment control; and interactive gaming devices, such as joysticks, gamepads, steering wheels, and keyboards for PCs, as well as accessories for game consoles. The company sells its products through a network of retail distributors and resellers, including wholesale distributors, consumer electronics retailers, mass merchandisers, specialty electronics stores, computer and telecom stores, value-added resellers, and online merchants, as well as original equipment manufacturers. It operates in Europe, North America, and Asia Pacific. Logitech International has collaboration with Ecole Polytechnique Federale de Lausanne; Carl Zeiss AG to deliver image quality for video calling and sharing; and Skype Technologies S.A. to deliver video calls over the Internet. The company was founded in 1981 and is based in Apples, Switzerland. With 182.24 million shares outstanding and 7.45 million shares declared short as of October 2007, there is no longer a failure to deliver in shares of LOGI.
Memory Pharmaceuticals Corp. (NASDAQ: MEMY) a biopharmaceutical company, engages in the discovery and development of drug candidates for the treatment of central nervous system disorders in the United States. It offers drugs for neurological diseases associated with aging, such as Alzheimer's disease, as well as certain psychiatric disorders, including schizophrenia, bipolar disorder, and depression. The company's products for the treatment of Alzheimer's disease comprise MEM 1414, a Phase I clinical stage product; MEM 1917, a preclinical completed product; and MEM 63908, a preclinical stage product. It is also developing MEM 3454, a Phase IIa product for the treatment of schizophrenia and/or Alzheimer's disease; MEM 1003, a Phase IIa clinical stage product for the treatment of Alzheimer's disease and bipolar disorder; and PDE10, a preclinical stage product for the treatment of neurological and psychiatric disorders. Memory Pharmaceuticals has collaborations with F. Hoffmann-La Roche, Ltd. and Hoffmann-La Roche, Inc. for the development of its PDE4 inhibitors and nicotinic alpha-7 partial agonists; and Amgen, Inc. for the development of PDE10 inhibitors for neurological and psychiatric disorders. In addition, it has an agreement with The Stanley Medical Research Institute to develop MEM 1003 as a treatment for bipolar disorder. The company was founded in 1997 and is based in Montvale, New Jersey. With 72.6 million shares outstanding and 195,408 shares declared short as of October 2007, there is no longer a failure to deliver in shares of MEMY.
China Media Group Corp. (OTCBB: CHMD) is a "Next Generation" advertising / media company focusing on the very lucrative Chinese market. It has offices in Beijing, China, Hong Kong and Texas, USA. The Company was incorporated in Texas on October 1, 2002. The Company is currently entering the fast growing advertising industry in China and plans to expand its offices in key cities such as Shanghai and Shenzhen. The Company will also cooperate with strategic partners in other cities to serve our clients for nationwide advertising coverage. With 500.53 million shares outstanding and 14,900 shares declared short as of October 2007, there is no longer a failure to deliver in shares of CHMD.
Eagle Broadband Inc. (OTCBB: EAGB) provides broadband, Internet Protocol (IP), and communications technology and services to government, military, and enterprise customers in the United States. Its products include IPTVComplete, which provides digital television and music content via IP to various market sectors, such as multi-dwelling unit operators, triple-play operators, and telephone companies; MediaPro IP Set-Top Boxes, which delivers computing and video functionality that enables a range of IP-based applications, including high-speed Internet access, streaming IP video, digital audio/music, video-on-demand, 3D gaming, and video conferencing; and SatMAX, a satellite communications system, which provides satellite-based voice and data communications from any location on earth to civilian government, military, homeland security, and corporate customers. The company also provides various information technology (IT) services, including voice and data circuits, network infrastructure design and installation, remote network management, IT integration, on-site hardware and software support services, and national IT project management services. It offers its products and services through direct sales and reseller/channel partners. The company was incorporated in 1993 as Wager-Data, Inc.; and changed its name to Eagle Telecom International, Inc. in 1996. Further, it changed its name to Eagle Wireless International, Inc. in 1997; and to Eagle Broadband, Inc. in 2002. The company is headquartered in League City, Texas. With 76.78 million shares outstanding and 77,100 shares declared short as of October 2007, there is no longer a failure to deliver in shares of EAGB.
Genesis Technology Group Inc. (OTCBB: GTEC) through its wholly-owned subsidiary Laiyang Jiangbo Biotech Technologies Co., Ltd. ("JiangBo"), is engaged in the research, development, manufacture and sale of pharmaceutical products in the PRC. One of the major pharmaceutical companies in the PRC, Genesis offers a full product line of both western medical drugs and Chinese herbal-based medical drugs in tablet, capsule and granule forms. For the year ending June 30, 2007, net sales for Genesis totaled $76.2 million, up approximately 55 percent from $49.2 million in 2006. With 85.26 million shares outstanding and 546,000 shares declared short as of October 2007, there is no longer a failure to deliver in shares of GTEC.
About BUYINS.NET
WWW.BUYINS.NET is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. Buyins.net has built a proprietary database that uses Threshold list feeds from NASDAQ, AMEX and NYSE to generate detailed and useful information to combat the naked short selling problem. For the first time, actual trade by trade data is available to the public that shows the attempted size, actual size, price and average value of short sales in stocks that have been shorted and naked shorted. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.
BUYINS.NET has built a massive database that collects, analyzes and publishes a proprietary SqueezeTrigger for each stock that has been shorted, www.buyins.net/squeezetrigger.pdf . The SqueezeTrigger database of nearly 1,650,000,000 short sale transactions goes back to January 1, 2005, and calculates the exact price at which the Total Short Interest is short in each stock. This data was never before available prior to January 1, 2005, because the Self Regulatory Organizations (primary exchanges) guarded it aggressively. After the SEC passed Regulation SHO, exchanges were forced to allow data processors like Buyins.net to access the data.
The SqueezeTrigger database collects individual short trade data on over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows by approximately 50,000,000 short sale transactions and provides investors with the knowledge necessary to time when to buy and sell stocks with outstanding short positions. By tracking the size and price of each month's short transactions, BUYINS.NET provides institutions, traders, analysts, journalists and individual investors the exact price point where short sellers start losing money.
All material herein was prepared by BUYINS.NET, based upon information believed to be reliable. The information contained herein is not guaranteed by BUYINS.NET to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. BUYINS.NET is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. BUYINS.NET may receive compensation in cash or shares from independent third parties or from the companies mentioned.
BUYINS.NET affiliates, officers, directors and employees may also have bought or may buy the shares discussed in this opinion and may profit in the event those shares rise in value. Market commentary provided by Thomas Ronk.
BUYINS.NET will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission.
You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and BUYINS.NET undertakes no obligation to update such statements.
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data prepared by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [e-mail].
Document MTPW000020071106e3b6004jx
Kirusa Expands Series C Financing With Investments From Premier Telecom Companies
1,053 words

5 November 2007

ENP Newswire

ENPNEW

English

(c) 2007, Electronic News Publishing. All Rights Reserved.
Release Date - 05112007
NEW PROVIDENCE, NJ -- (ENP Newswire) -- 11/05/07 -- Kirusa, the leading mobile value added services provider, today announced the expansion of its Series C financing, bringing the total round to US $13.3 million. The expansion, led by Qualcomm Ventures with participation by Eastven Partners, the successor fund to Ericsson Venture Partners, and Erasmic Venture Fund will further fuel Kirusa's global expansion to help meet strong worldwide demand for its products, and to increase its R&D activities. Original Series C investors include Helion Venture Capital and Nexus India Capital.
Kirusa is the inventor of, and the world leader in, the hugely successful Voice SMS application. Voice SMS enables people to send SMS messages by speaking. A user presses the 'star' key, followed by the recipient's number, and speaks a short message of up to 30 seconds. The recipient gets an SMS message from the sender, and can "click" (or dial) a number in the message to directly access the spoken message. After listening to the message, the recipient can reply by voice, or by text, or can forward the message. Voice SMS is the fastest growing value added service in Asia, and is exploding globally with major deployments under way in other parts of the world. Kirusa holds a patent from the United States Patent and Trademark Office for its Voice SMS technology. Kirusa's customers include Tata Telecom, Idea Cellular, MTNL, and BPL Mobile, in India; GrameenPhone and Warid Telecom in Bangladesh; Ufone, Warid Telecom, and China Mobile in Pakistan, and Globacom in Nigeria, amongst others. Millions of subscribers are using Voice SMS to communicate with their colleagues and loved ones.
Nagraj Kashyap, director, Qualcomm Ventures, says, "Voice SMS has a very strong value proposition that we believe will drive revenue growth for mobile carriers around the globe. Kirusa has established itself as a pioneering innovator in this space. Their experienced management team, combined with the company's strong intellectual property position, will help Kirusa to build on its already impressive achievements. Qualcomm is pleased to take part in this funding round."
"We are delighted that Qualcomm has made a strategic investment in Kirusa," said Pankaj Sethi, President, Value Added Services, Tata Teleservices Ltd. He further said, "We are witnessing the continued growth of value added services in our businesses, in both data and voice-led applications. In a multilingual nation like India, where texting can be a challenge, Voice SMS and related applications will open a whole new growth opportunity for mass consumers. Leading industry players such as Kirusa will play a significant role in this development."
Mark McAndrews from Eastven says, "Kirusa is poised for rapid and continued growth and is set to capitalize on sizeable market opportunities. Our relationships with key industry players, such as Ericsson, not only give us unique visibility and perspective on the market, but will also help Kirusa grow into global markets."
Commenting on the new investors, Dr. Inderpal Singh Mumick, Chairman and CEO of Kirusa, said, "We hope to harness Qualcomm, Eastven's relationships with equipment providers and Erasmic, to accelerate our progress towards the goal of becoming a key partner of mobile carriers worldwide."
About Qualcomm Ventures
Qualcomm Ventures was launched in the United States in November 2000 with an initial US$500 million allocation. Qualcomm Ventures' aim is to support Qualcomm's mission of enabling and fostering 3G and wireless Internet markets through strategic investments in privately owned startup ventures. These strategic investments include companies focusing on wireless communication technologies and products serving consumer, enterprise and vertical markets worldwide.
About Eastven
Eastven is a technology venture capital firm and is the successor fund to Ericsson Venture Partners. Eastven is focused on the communications technology market and invests in network infrastructure, software, semiconductor, and enabling technology companies. Eastven is particularly interested in next-generation IP-based infrastructure, and systems and applications in the service network layer. For more information, please visit
.
About Erasmic Venture Fund
Erasmic Venture Fund (EVF,
) is an early-stage venture capital fund. EVF has the mandate to invest into early-stage cross-border (US/India corridor) startups, and brings to bear significant operational experience of its Partners to help portfolio companies. EVF has made investments in companies that are in fairly diverse areas, such as Internet & Mobile, Knowledge Process Outsourcing, and Technology Products.
About Kirusa
Kirusa is a leading developer of value added mobile services that provide the freedom of multimodality. Kirusa's solutions include the hugely successful KV.SMS(TM), the world's most advanced "Voice SMS" solution, which allows mobile users to send and reply to SMS messages with voice, and works on all handsets and on all networks. The Voice SMS solution offers the industry's most intuitive user interface, with features such as Direct Listen(TM) for direct access and reply to messages, Speed Codes(TM) for quickly sending messages using codes, group messaging, mobile number portability, convergence, interconnect, and international Voice SMS. KV.SMS can be deployed in a matter of weeks, and its fast user adoption has led to explosive revenue growth for Kirusa's customers. KV.SMS is built on Kirusa's patented and patent pending technology and its highly reliable and scalable multimodal platform. The platform's ability to manage and synchronize data and voice interactions, plus its integration with IMS and 3G standards, enables customers to cost effectively deploy additional revenue-generating services such as messaging, search, information, and entertainment applications. Kirusa's solutions are deployed worldwide and used by tens of millions of mobile subscribers. Headquartered in New Jersey and led by an experienced team of wireless telecom executives and technologists, Kirusa has sales offices in Paris, France; Delhi, India; and Abu Dhabi, UAE; with a research and development facility in Bangalore, India. 'Kirusa Voice SMS,' 'Direct Listen,' and 'Speed Codes' are trademarks of Kirusa, Inc. For more information, please visit
.
Media Contacts
Kirusa
Anju T Makin
Alchemy Corporate Communications
Tel: [phone]
Qualcomm Ventures
Emily Kilpatrick
Tel: [phone]
Eastven Partners
Mark McAndrews
Tel: [phone]
Erasmic Venture Fund
Subrata Mitra
Tel: [phone]
[Editorial queries for this story should be sent to [e-mail]]
Document ENPNEW0020071105e3b5003bh
Kirusa Expands Series C Financing With Investments From Premier Telecom Companies
1,065 words

5 November 2007

Market Wire

ITWR

English

(c) Copyright 2007 Market Wire, Inc.
Qualcomm Leads Expansion of Series C Round, Validating Kirusa's Technology Leadership and Market Strategy
NEW PROVIDENCE, NJ -- (MARKET WIRE) -- Nov 05, 2007 -- Kirusa, the leading mobile value added services provider, today announced the expansion of its Series C financing, bringing the total round to US $13.3 million. The expansion, led by Qualcomm Ventures with participation by Eastven Partners, the successor fund to Ericsson Venture Partners, and Erasmic Venture Fund will further fuel Kirusa's global expansion to help meet strong worldwide demand for its products, and to increase its R&D activities. Original Series C investors include Helion Venture Capital and Nexus India Capital.
Kirusa is the inventor of, and the world leader in, the hugely successful Voice SMS application. Voice SMS enables people to send SMS messages by speaking. A user presses the 'star' key, followed by the recipient's number, and speaks a short message of up to 30 seconds. The recipient gets an SMS message from the sender, and can "click" (or dial) a number in the message to directly access the spoken message. After listening to the message, the recipient can reply by voice, or by text, or can forward the message. Voice SMS is the fastest growing value added service in Asia, and is exploding globally with major deployments under way in other parts of the world. Kirusa holds a patent from the United States Patent and Trademark Office for its Voice SMS technology. Kirusa's customers include Tata Telecom, Idea Cellular, MTNL, and BPL Mobile, in India; GrameenPhone and Warid Telecom in Bangladesh; Ufone, Warid Telecom, and China Mobile in Pakistan, and Globacom in Nigeria, amongst others. Millions of subscribers are using Voice SMS to communicate with their colleagues and loved ones.
Nagraj Kashyap, director, Qualcomm Ventures, says, "Voice SMS has a very strong value proposition that we believe will drive revenue growth for mobile carriers around the globe. Kirusa has established itself as a pioneering innovator in this space. Their experienced management team, combined with the company's strong intellectual property position, will help Kirusa to build on its already impressive achievements. Qualcomm is pleased to take part in this funding round."
"We are delighted that Qualcomm has made a strategic investment in Kirusa," said Pankaj Sethi, President, Value Added Services, Tata Teleservices Ltd. He further said, "We are witnessing the continued growth of value added services in our businesses, in both data and voice-led applications. In a multilingual nation like India, where texting can be a challenge, Voice SMS and related applications will open a whole new growth opportunity for mass consumers. Leading industry players such as Kirusa will play a significant role in this development."
Mark McAndrews from Eastven says, "Kirusa is poised for rapid and continued growth and is set to capitalize on sizeable market opportunities. Our relationships with key industry players, such as Ericsson, not only give us unique visibility and perspective on the market, but will also help Kirusa grow into global markets."
Commenting on the new investors, Dr. Inderpal Singh Mumick, Chairman and CEO of Kirusa, said, "We hope to harness Qualcomm, Eastven's relationships with equipment providers and Erasmic, to accelerate our progress towards the goal of becoming a key partner of mobile carriers worldwide."
About Qualcomm Ventures
Qualcomm Ventures was launched in the United States in November 2000 with an initial US$500 million allocation. Qualcomm Ventures' aim is to support Qualcomm's mission of enabling and fostering 3G and wireless Internet markets through strategic investments in privately owned startup ventures. These strategic investments include companies focusing on wireless communication technologies and products serving consumer, enterprise and vertical markets worldwide.
About Eastven
Eastven is a technology venture capital firm and is the successor fund to Ericsson Venture Partners. Eastven is focused on the communications technology market and invests in network infrastructure, software, semiconductor, and enabling technology companies. Eastven is particularly interested in next-generation IP-based infrastructure, and systems and applications in the service network layer. For more information, please visit www.eastven.com .
About Erasmic Venture Fund
Erasmic Venture Fund (EVF, www.erasmic.com ) is an early-stage venture capital fund. EVF has the mandate to invest into early-stage cross-border (US/India corridor) startups, and brings to bear significant operational experience of its Partners to help portfolio companies. EVF has made investments in companies that are in fairly diverse areas, such as Internet & Mobile, Knowledge Process Outsourcing, and Technology Products.
About Kirusa
Kirusa is a leading developer of value added mobile services that provide the freedom of multimodality. Kirusa's solutions include the hugely successful KV.SMS™, the world's most advanced "Voice SMS" solution, which allows mobile users to send and reply to SMS messages with voice, and works on all handsets and on all networks. The Voice SMS solution offers the industry's most intuitive user interface, with features such as Direct Listen™ for direct access and reply to messages, Speed Codes™ for quickly sending messages using codes, group messaging, mobile number portability, convergence, interconnect, and international Voice SMS. KV.SMS can be deployed in a matter of weeks, and its fast user adoption has led to explosive revenue growth for Kirusa's customers. KV.SMS is built on Kirusa's patented and patent pending technology and its highly reliable and scalable multimodal platform. The platform's ability to manage and synchronize data and voice interactions, plus its integration with IMS and 3G standards, enables customers to cost effectively deploy additional revenue-generating services such as messaging, search, information, and entertainment applications. Kirusa's solutions are deployed worldwide and used by tens of millions of mobile subscribers. Headquartered in New Jersey and led by an experienced team of wireless telecom executives and technologists, Kirusa has sales offices in Paris, France; Delhi, India; and Abu Dhabi, UAE; with a research and development facility in Bangalore, India. 'Kirusa Voice SMS,' 'Direct Listen,' and 'Speed Codes' are trademarks of Kirusa, Inc. For more information, please visit www.kirusa.com .

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Document ITWR000020071105e3b5006he

Country, SA Govts 'Must Cut Red Tape for Investors'
by Brigitte Weidlich

525 words

1 November 2007

09:35 AM

All Africa

AFNWS

English

(c) 2007 AllAfrica, All Rights Reserved
Windhoek, Nov 01, 2007 (The Namibian/All Africa Global Media via COMTEX) -- GOVERNMENTS should put in place effective regulatory measures "to cut red tape" and facilitate smooth business operations for the private sector and investors, President Hifikepunye Pohamba said at the opening of an international investors' conference in the capital yesterday.
"It is essential to have in place a responsive and efficient public service bureaucracy that understands the imperative of economic growth and support for business development," President Pohamba said in his address to over 1 000 conference participants.
"In this light, I call on our civil servants, especially permanent secretaries, to ensure that in carrying out their regulatory and administrative responsibilities, their decisions should be speedy, fair, objective and transparent."
The global economy had become increasingly competitive, he said.
"Increased competition and integration of the global economy places demands on developing countries to implement strategies that will enable us to foster economic growth, create new employment opportunities and ensure that our economies remain vibrant."
"How do we, as developing countries, respond to the challenging dynamics of the global economy? One point of departure is bilateral and regional co-operation among us.
This will enable us to share experiences and adopt best practices for effective policy frameworks that can stimulate sustainable economic growth over a long term," Pohamba said.
"This calls for deliberate actions by governments to put in place effective regulatory measures to cut red tape."
The conference was called to fund projects in mining, power generation, infrastructure like roads and railways, telecommunications and tourism.
According to Pohamba, governments have to put in place sound macro-economic policies, while ensuring peace and economic stability, creating a conducive environment for investments.
"Namibia has adopted investor-friendly policies, highly competitive incentives and fiscal regimes," he told delegates.