A $40 million expansion project for Telecel Zimbabwe
Thursday, July 23rd, 2009
Acording Mr Rex Chibesa, Telecel’s acting managing director, Telecel Zimbabwe is to embark on a massive US$ 40 network expansion that would be implemented in two phases, with the first one expected to be completed in September. The project, which targets 950 000 new subscribers by year-end, is sourced with the help of Orascom, the largest shareholder in Telecel with 51 percent equity. The remaining 49 percent are owned by a consortium of local investors led by exiled James Makamba.
Deliveries of equipment being imported from Belgium-based Siemens and Haiwei of China have started. “The equipment is coming in. We are getting supplies from two vendors and we have already identified areas where new base stations would be installed,” said a Telecel senior executive.
A few months ago, some reports had stated that MTN, Africa’s largest mobile operator, was eyeing a substantial stake in Telecel. However, Mr Chibesa’s recent announcement clearly showed that Telecel is not prepared to sell any part of its stake. « As far as we (shareholders) are concerned, no one is selling anything at least for now,” said one shareholder. “We are actually focusing on network expansion and we are hoping to raise our subscriber base to 1,2 million by end of this year,” Orascom added.