Telecel Seeks Expansion Funding and Penalties for Unlicensed Operators in Zimbabwe

By Kgothatso Kage Kgiba

Telecel, Zimbabwe’s second largest mobile service operators, is in talk with banks in a bid to secure $200 million funding for its expansion plans.

The company, which is jointly owned by Telecel Globe, a subsidiary of Orascom Telecom Company, and the Empowerment Corporation, is looking to increase its subscriber network by a half a million from the current five million by the end of the year.

The company’s General Manager, Angeline Vere, outlined the company plan for expansion while appealing to the Zimbabwean Government to tighten legislation against those people not licensed to provide telecommunications’ services which were adversely affecting Telecel’s growth.

She told the parliamentary portfolio committee on communication technology: “Our appeal to you as legislators is to review the laws to ensure penalties are stringent to deter these criminals.”

Telecel has a 28 percent market share and is also looking to increase its active subscriber base to 3.3millin from 2.3 million.

It is also aiming to increases its 3G reach and has already started fibre optic connectivity and finalised a move from microwave connection to fibre for the Harare to Gweru route and was working on Gweru to Bulawayo.

Share
Share

Featured Articles

Musk’s multibillion hostile Twitter takeover – the timeline

As billionaire entrepreneur Elon Musk buys Twitter for US$44bn, we draw up a timeline, from the buying of shares to the critical tweets and unsolicited bid

Sustainable moves businesses can make to win customers, IBM

With half of consumers saying environmental sustainability is more important today than a year ago, businesses should up their eco action, says IBM report

Banks and consultancies top workplaces to grow career in UK

Financial and professional services firms rank highest in LinkedIn Top 25 best workplaces list – from Barclays, Lloyds and HSBC, to PwC, Deloitte and EY

Top 10 women in technology in Europe

Leadership & Strategy

The value of ESG links sustainability to business returns

Sustainability

Top 10 European football clubs by revenue 2022 – Deloitte

Corporate Finance