(BREAKING NEWS) ECONET secures forex for expansion programme -09-02-07

ECONET Wireless Limited, has secured foreign currency to embark on
another multi-million-dollar project to further expand its network from the
800 000 to 1,3 million subscribers by the end of August this year.
The expansion, a sign of confidence by the company in the economy

R>despite the current challenges, is designed to meet the unsatisfied demand for
its services countrywide.

Econet spokesperson Sure Kamhunga said: “This expansion will be even
bigger than the current upgrade, which is nearing completion.
“Econet started to upgrade its capacity from the then 500 000 to 800
000 subscribers using a US$20 million loan obtained from the Cairo-based
African Import Export Bank,” Kamhunga said.
He said the country’s largest mobile telecommunication company had
concluded financing facility arrangements for the project and had already placed
orders with Ericsson for the supply of equipment.
He however said it was premature at this stage to discuss details of
the expansion.

Post published in: Economy

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