TelOne seeks USD100m
BUSINESS| Sept. 7, 2011, 12:37 p.m.
By Alfonce Mbizwo, Harare, Zimbabwe
Almost six months after receiving Zimbabwe’s fourth GSM licence, State-owned fixed telephone operator TelOne is looking for USD100 million from foreign investors, to roll out its network.
The State already owns a GSM operator, NetOne, the smallest of the country’s three mobile operators behind Econet Wireless and Orascom’s Zimbabwean unit, Telecel. The regulator, Zimbabwe’s Postal & Telecommunications Regulatory Authority (POTRAZ) said in March that it had not given TelOne fixed timelines to roll out mobile services because of financial concerns, but sources in the industry told Biztechafrica that the parastatal has been scouring the Middle East and Asia in search of potential partners.
Reports last month suggested that Mahanganagar Telephone Nigam Limited (MTNL) an Indian state owned telecoms firm was considering acquiring a 51% stake in TelOne as part of its plans to enter the African cellular turf in the near future.
This is doubtful .since local legislation demands that any controlling stake remains in State hands.
TelOne acting managing director Hampton Mhlanga said there was no agreement yet with any investor.
“The introduction of mobile services will ensure that we will be able to reach all those areas we could not because of vandalism and cable theft on our fixed line network,” he said.
MORE BUSINESS NEWS
MTN Business launches Supplier Development Programme in MpumalangaMTN Business has reaffirmed its commitment to develop small and medium-sized enterprises (SMEs) within Nelspruit by extending its Supplier Development Programme (SDP) and Accelerator Programme (AP), the company’s enterprise development initiatives, to the Mpumalanga Province of South Africa. Read More
VMware appoints Senior Vice President and GM of EMEAVMware, a global leader in cloud infrastructure and business mobility, today announced the appointment of Jean-Pierre Brulard as Senior Vice President and General Manager of EMEA. Read More
InfoGraphics chief urges investment in tech start-upsThe Managing Director of InfoGraphics Nigeria, Chinenye Mba-Uzoukwu, has urged wealthy Nigerians to invest in tech start-ups. Read More
Convergence Partners acquires stake in Nigerian Fintech firmConvergence Partners has announced an investment of $20m for a strategic, minority stake in Venture Garden Nigeria. Read More
MTN Business augments its management team further with key strategic appointmentMTN Business SA has appointed an industry veteran, Mariana Kruger, as General Manager of Private Sector. Read More
SA Competition Tribunal approves Telkom-BCX mergerBusiness Connexion Group Limited has announced that the Competition Tribunal of South Africa has approved the proposed merger between Business Connexion Group Limited ("BCX") and Telkom SA SOC Limited ("Telkom") with the imposition of conditions. Read More
Kenyan SACCOS riding on innovation to attract customersAs confidence in mainstream banks remains low due to prohibitive interest rates, customers are embracing Savings and Credit Cooperatives (SACCO) as an alternative. Read More
BITC invites ICT investorsThe Botswana Investment and Trade Centre (BITC) is casting its net wide to appeal to players in the Information Technology sector to invest in the country. Read More
Yudala ‘an unstoppable movement’The opening of Yudala outlets, combining an online shopping platform with retail stores, has been described as a game-changer in Nigeria. Read More
Travelport, TTS sign reseller agreement for Africa, Middle East and Asia Pacific regionTravelport and TTS have signed a sales and distribution agreement for TTS products in the Africa, Middle East, and Asia Pacific regions. Read More
FEATURED STORYYoung innovators shine during pitch sessions
Botswana saw an array of upcoming tech wizards selling their ideas during the Vendors’ Day pitch sessions this week.
BEST READ NEWS
IN DEPTHHigh tech homes: Just press play
High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.