Zambian authorities approve USD30m JV
BUSINESS| July 7, 2011, 3:50 p.m.
Zambia’ s Competition and Consumer Protection Commission (CCPC) has approved a joint venture between Copperbelt Energy Corporation (CEC) and Liquid Telecommunications Holdings Limited of Mauritius.
The two companies will create a new company, CEC Liquid Telecommunications, investing USD30 million into the operation.
Liquid Telecommunications provides high capacity fibre optic technology and plans a 4000km ring fibre network in central Africa.
It has presence in Botswana, Kenya, Lesotho, South Africa, United Kingdom and Zimbabwe and owns and operates one of the largest fibre optic networks in Southern Africa, which is estimated to exceed 8 500 kilometres by the end of this year.
CEC’ s strategy is to grow and diversify its business by pursuing viable opportunities in the energy and telecommunication sectors.
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