USD70m for Telecel
Egypt’s Orascom Telecom says it will invest USD70 million into Telecel Zimbabwe to improve the operator’s national 2G and new 3G cellular services.
Orascom’s African Cluster CEO, Vincenzo Nesci, said the investment would help upgrade and expand the telco’s voice and data services.
Telecel, with 58% coverage, aims to increase this to 85% before end 2012.
The company is currently third in the Zimbabwean market, befind Econet and NetOne.
With around 1.2 subscribers now, it aims to grow to three million subscribers by the end of next year.