Africa could see a surge of activity in its telecoms industry over the next year, as the current global financial crisis prompts the biggest telco operators to go bargain-hunting following the huge share price declines recently. 

In an interview with Business Report, Paul Booth, director of Dubai-based emerging market research firm Global Research Partners, said, "I think consolidation is going to be speeded up because of the current economic crisis."

Kuwaiti telecoms firm Zain has a cash pile of $4.5bn following a rights issue and has said it wants to spend up to $4bn in Africa before 2010, while mobile giant MTN Group has also announced it is on the lookout for suitable expansion opportunities.