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
Kenya courts technology to woo investorsKenya, East Africa’s lead economic hub, has stepped up its efforts to woo investors through its rigorous incorporation and adaptation of technology to ease business transactions. Read More
‘Prepare for an explosive year ahead’ - Dac SystemsFrom a technology solution supply and reselling perspective, 2015 is going to be a bumper year, says Dac Systems. Read More
The Business Network is the futureHyper-connected business networks will extend business processes that used to stop at the walls of the enterprise, and will fulfill the promise of the real-time global networked economy to reduce complexity without sacrificing sophisticated work, says SAP. Read More
Africa SME Champions Forum: creating an ecosystem to support African championsThe Africa SME Champions Forum closed in Dakar last week, but its work in support of African champions is only just beginning. Read More
Deloitte: Africa GDP to top $3.7 trillion by 2019Africa’s gross domestic product will grow by 50% to $3.7 trillion over the next five years, says Deloitte. Read More
EOH CEO named All Africa Business LeaderAsher Bohbot, CEO of Enterprise Outsourcing Holdings (EOH) Limited, has been named Business Leader of the Year at the CNBC Africa All Africa Business Leaders Awards. Read More
Data revolution will shake banking sector, says NCC chiefThe Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr Eugene Juwah, says Nigeria’s second revolution in data will have a significant effect on the banking sector. Read More
Qrent expands across AfricaAs organisations look to hire instead of purchasing essential equipment such as computers, printers copiers, LCD screens and projectors, the demand for Qrent’s services has grown across the continent. Read More
Africell completes Orange Uganda acquisitionAfricell, one of the fastest growing mobile telecommunications operators in Africa, has announced that it has completed the acquisition of Orange Uganda. Read More
MTN calls for collaboration between mobile network operators and OTT playersA balanced co-operation between mobile network operators and Over the Top (OTT) players is required to develop a win-win ecosystem, says MTN South Africa. Read More
FEATURED STORYGSMA: half a billion mobile subscribers in SSA by 2020
The number of unique mobile subscribers in Sub-Saharan Africa will pass the half billion mark in 2020, says a new GSMA report.
BEST READ NEWS
IN DEPTHAfrica lags on digital migration
Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.
COMPANY NEWSVMware Study: Businesses can Take Three Weeks to get Employees Mobile-Ready
EMEA businesses say concerns over trust, ownership and delivery capability may hold back taking advantage of the mobile cloud-era.