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Movitel to invest $465m in Mozambique
10 January 2011
The third mobile operator in Mozambique, controlled by Viettel, has announced plans to invest $645m over five years
Movitel is planning to invest $465 million over the next five years to build infrastructure in Mozambique. The mobile phone operator will build its own infrastructure and but share equipment in some regions.
The company will initially invest around $120 million in the next 12 months. Movitel was awarded a licence to operate as the nation’s third mobile operator in November 2010.
Movitel is a joint venture controlled by a Vietnamese company, Viettel Telecom, which has a 70% stake. SPI-Gestao e Investimentos, a stakeholding company linked to Frelimo, the governing political party in Mozambique, has 29%. The remaining 1% is held by a group of investors known as Invespark.
Movitel competes with state-run Mozambique Cellular’s mCel brand and Vodacom Mozambique, a unit of South Africa’s Vodacom. GTB