A Zimbabwean telephone operator receives $60 million

25 August 2010

Zimbabwe telephone operators Econet Wireless announced last week that they had obtained a loan of 60 million Dollars from Swedish credit agency EKN, in order to finance the expansion of their network across the territory.

The aim of this loan is to modernise equipment and upgrade 3G services. The equipment will be provided by the Swedish company Ericsson.

“Our customers in Harare are buying more and more telephones, which requires more capacities and resources on the network”, says the director of Econet Wireless, Douglas Mboweni, in a press release.

The operators are hoping in this way to increase the number of subscribers to mobile telephones, following the example of the Cape Verde Islands, where the number of users increased from 349,473 in 2009 to 367,767 in 2010, as the national communications agency has just announced to the Praia press agency.

During the first six months of 2010, Internet use has also seen an increase of close on 67 percent.

Category: ICT