Zimbabwean ISP and mobile broadband provider PowerTel is looking to secure US$100m vendor financing from EximBank of China, its managing director Patrick Farai Chivaura said.
In an interview with local newspaper NewsDay, he explained that the money…
Zimbabwean ISP and mobile broadband provider PowerTel is looking to secure US$100m vendor financing from EximBank of China, its managing director Patrick Farai Chivaura said.
In an interview with local newspaper NewsDay, he explained that the money would be used for its network expansion programme, including 3G mobile telecoms technology and voice services.
Chivaura added that to secure the financing, the company needs government guarantees. Vendors have already been identified, he stressed.
The aim for this financing is to grow the company’s share in a mobile market dominated by Econet, Telecel and NetOne.
PowerTel, which is controlled by state-owned power utility Zesa Holdings, has already installed 20 base stations, Chivaura said.
The company was not immediately available for comment.
