ICYMI: 3 Things In Caribbean Tech News You Must Know Today

GTT now offering Mobile Money service to Digicel customers
More than two and half years after GTT launched its Mobile Money Guyana (MMG) service, the telephone company yesterday announced that Digicel customers can now join up.
The initiative was effective yesterday.
According to GTT, since the launch of Mobile Money in March 2013, the service was limited to its customers only.
“The demand for the service has influenced the offer to the other network. Now, everyone can register,” GTT said.
Registration for Mobile Money is free for customers of both networks.
All registered customers will be able to now make deposits into their phones; pay bills (buy prepaid GPL tokens); send money to anyone, anywhere in Guyana; cash-out funds from their phones and shop at approved merchants with just their phone, any time of day.
GTT said that customers from the other network (Digicel) can now use mobile money on Android or Blackberry Smartphones, via the Mobile Money App. More

Liberty Global pounces on venerable Cable & Wireless

The problem of buying a company in which John Malone is an investor, especially when some of the payments are made in shares, is that he may turn around with his large shareholding and inside knowledge of operations, and buy the enlarged entity. This is pretty much what happened as Malone’s Liberty Global initiated talks to buy Cable & Wireless, only 11 months after it acquired Columbus, in which Malone is a large shareholder.

It’s hard to see the strategic benefits of this deal to Liberty, but having seen C&W’s conservative approach to running a business, it will be impossible for Malone not to make a large amount of money from this deal by simply improving efficiencies.

In November last year , C&W bought pay-TV operator Columbus International, reasoning that the latter’s hodge-podge of network assets around the world would be a good fit for the mostly Caribbean holdings of the cable TV business turned cellco.

Back in May the merged company reported broadband lines up 74% to 658,000 across over one million homes with telephone lines, and the supply of mobile service to 3.8m people. The Columbus homes are spread all over 700,000 homes in Barbados, the Caribbean, Central America and the Andes mountains. C&W has assets in the Caribbean, but also in many other islands around the world, and last year it acquired Sonitel in Panama, as well as Columbus. More

tTech is first IT Company to go IPO on the Jamaican Junior Stock Exchange

Jamaican IT company tTech is preparing to join the Junior Stock Exchange with an IPO expected before the end of the year. It will be the first IT company to join the stock exchange, according to Christopher Reckord, a principle shareholder, in an interview with the Caribbean Business Review.

While the IPO will alow tTech to take advantage of a five-year tax break, it is not the sole reason according to Reckord. “One of the reasons why the company is listing on the Junior Market is to allow employees to own shares in the company and as a part of the IPO shares would be offered to employees,” Reckord said. The company currently has 25 staff members., including three executive directors and shareholders. More