Telecel Zimbabwe, a mobile network operator, is looking to raise around US$200m and is already in talks with banks to arrange a potential financing.
Its general manager, Angeline Vere, was quoted telling a parliamentary portfolio committee on…
Telecel Zimbabwe, a mobile network operator, is looking to raise around US$200m and is already in talks with banks to arrange a potential financing.
Its general manager, Angeline Vere, was quoted telling a parliamentary portfolio committee on communication technology that investment is needed to expand the company’s 3G network coverage.
It would also help increase its subscriber base by 500,000 to 5.5 million and its active subscriber base from 2.3 million to 3.3 million by the end of the year, she added.
Telecel, in which VimpelCom’s Global Telecom Holding (GTH) has a stake, is the second-largest operator in the country with a 28% market share. Its rivals are leader Econet and state-owned Net One.
Vere also called for the government to encourage network sharing between operators so that they can cut their capex.
The company was not immediately available to comment further on the matter.