Business
MapIT South Africa acquires 26 pct stake in Uganda’s SatNav East Africa
Ugandan information technology firm SatNav East Africa has sold a 26 percent stake to South Africa’s MapIT.
SatNav East Africa chief executive Vincent Okema said the new arrangement involving shares worth US$2.1 million will help the firm in its expansion drive in the East African region including South Sudan.
“MapIT will also provide us with all the technical support including improved digital maps across six east African countries,” Mr Okema said.
Digital address codes are special codes that provide precise address information about people’s residences and business.
MapIT is a South African IT firm that provides web mapping, mobile mapping, digital mapping services, location based services and location business intelligence across business, financial, fleet and logistics management as well as insurance industries in sub Saharan Africa.
Mr Okema said the firm has developed digital maps and address codes for the whole region that can be accessed at Ush50,000 (US$19.6) and Ush200,000 (US$78.5) for business persons while navigation devices go for between Ush600,000 (US$235.50) and Ush1.3 million (US$510).
He said navigation devices are linked to digital maps to give direction, identify points of interest such as hospitals or restaurants as well as help to sort out emergency cases.
