TelOne seeks USD100m
BUSINESSBy BiztechAfrica - 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
Qrent opens offices in TanzaniaQrent, a fully fledged division of InnoVent Rental and Asset Management Solutions, has opened an office in Tanzania. Read More
Axiologix completes acquisition of iWorld ServicesAxiologix has completed the acquisition of iWorld Services, which delivers retail and wholesale VoIP services, products, and advanced web applications and software tools targeting high growth emerging markets. Read More
African economies on growth curve: reportIn contrast to the rest of the world’s sluggish progress, African economies stand out for their high rates of growth and the effusive confidence they inspire, according to a new report. Read More
NITRA seeks collaboration with regulator, operatorsThe Nigerian Information Technology Reporters Association has called on the industry regulators and ICT players to partner with the association to strengthen industry. Read More
BT accelerates African growthBT has announced a new phase of investments into the rapidly growing economies of Asia Pacific, Turkey, the Middle East and Africa (AMEA) with the objective of accelerating its expansion in high growth markets. Read More
Flexenclosure delivers turnkey data centre to AngolaFlexenclosure has received a large order from ACS Angola Comunicações e Sistemas, one of Angola’s main suppliers of IT solutions and corporate network connectivity. Read More
A new approach to outsourcing in the changed economyIn a newly shaped landscape, a new set of challenges emerges for outsourcing service providers, says T-Systems. Read More
Energy finds in Africa highlight shifts in sector - DHL reportThe recent oil and gas finds in Africa will continue to have a positive impact on local economies, if local African suppliers, service providers and other businesses are geared up to service this growth. Read More
African Large Format Printer market declinesThe large format printer (LFP) market in Central and Eastern Europe, the Middle East, and Africa (CEMA) region declined 10.7% in volume and 5.1% in value year on year in the first half of 2013, says IDC. Read More
FEATURED STORYGaming app introduces investors to trading
A new virtual stock market app is equipping would-be investors with the skills they need to trade.
BEST READ NEWS
IN DEPTHCorporate cyber security threats of the year
91% of organisations polled suffered a cyber-attack at least once in the past year, says Kaspersky Lab in its security review of 2013.
COMPANY NEWSSamsung, 49M embark on consumer educational drive
Samsung Electronics South Africa has announced a national consumer education campaign in support of the 49M initiative, offering practical actions to save energy in daily life.MTN launches new positioning campaign for enterprise market
MTN Group today unveiled a new Pan-African brand positioning media campaign for MTN Business, its enterprise business unit.