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Orascom to invest $70m in Zimbabwe unit
28 November 2011
Egyptian operator Orascom will invest $70m to expand and upgrade Telecel Zimbabwe
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Orascom Telecom is planning to invest around $70 million to expand and upgrade its subsidiary Telecel Zimbabwe. According to the Independent, Vincenzo Nesci CEO of Orascom’s group African business, said his firm sees strong growth potential in Zimbabwe and the investment will be used to modernise data as well as voice services.
The company will also offer training to enhance the managerial and technical skills within the Zimbabwean unit. Nesci said Telecel’s network enhancement would be bolstered by Orascom's investments through 2012.
Telecel Zimbabwe expects its active subscribers to reach 3 million by the end of 2012 and aims to expand its network coverage to around 85% by the time. The firm has already established 127 base stations at new sites in Zimbabwe, encompassing 2G as well as 3G services. European group VimpelCom owns 51.7% of Orascom Telecom Holding. Telecel, jointly owned by OTH and Zimbabwe’s Empowerment Corporation, has 1.4 million customers and is the second largest mobile network in the country. GTB
Further reading from Global Telecoms Business:
Liquid Telecom builds Zambia fibre net 11 Nov 2011
Orascom 'could bid' for Orange Switzerland 18 Oct 2011
MTNL eyes 51% stake in TelOne 20 Jul 2011
Econet invests $400m on Zimbabwe net 20 May 2011