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
Contact centres: cog in the machine or customer experience hub?As customer experience becomes the primary competitive advantage in business, the role of the contact centre is changing significantly. But whether it becomes the heart of the business or a component of the bigger machine depends on the business, say African contact centre experts. Read More
Building an African Dream: The Wyzetalk journeyEnterprise social networking company Wyzetalk examines the challenges and opportunities it encountered as a startup in Africa. Read More
African organisations under pressure to sharpen skills retention and employee engagementBusinesses across major African economies such as Kenya and Nigeria are coming under increasing pressure to align their strategies for retaining talent, compensating employees and engaging with their workforces with good international practices. Read More
The Workplace of the FuturePhilip Gregory, Senior Regional Executive: Johnson Controls GWS, Middle East & Africa, talks about the workplace of the future, how it will impact the workforce and how businesses can navigate the tension between employee demands and the needs of the corporation. Read More
New MTN boss Ebenezer Asante starts work at MTN Ridge officeThe former Chief Executive Officer for MTN Rwanda Ebenezer Asante has started work on Friday as the new CEO of Ghana’s leading network operator MTN at its plush Ridge Head quarters in Accra. Read More
Tigo Ghana CEO 2nd on Sweden’s list of 75 young and promising womenThe CEO of Tigo Ghana limited, Roshi Motman, has been named as the second most young, promising and prominent female executive on Sweden’s tall list of 75 outstanding women. Read More
Safaricom non-voice revenue, subscriber numbers show strong growthSafaricom has reported a total revenue increase of 13% to Kshs 163.4bn, with non-voice service revenue increasing by 27% to Kshs 68.8bn. Read More
She Leads Africa launches 2015 Entrepreneur ShowcaseThe premier platform for young female entrepreneurs across Africa has launched this year’s competition, with a $15,000 cash prize for the winners. Read More
Africa highlighted as high potential tech marketAfrica’s trade potential has come under the spotlight at the 5th annual DHL Global Technology Conference in Dubai. Read More
FEATURED STORYThe transformative power of affordable smartphones and unlimited data in Ghana
Smartphones are helping transform their lives of ordinary people in Ghana, Reports Nana Appiah Acquaye.
BEST READ NEWS
IN DEPTHNIMC infrastructure must be managed by credible people: NIMC chief
NIMC’s chief speaks to Kokumo Goodie about the role of the NIMC and his own legacy.