Zimbabwe's second largest mobile operator Telecel Zimbabwe
Harare - XINHUA
Zimbabwe's second largest mobile operator Telecel Zimbabwe will seek 200 million U.S. dollars to expand its network and increase 1 million subscribers, the firm's manager said Monday.
Telecel, a joint venture of Egyptian telecom giant Orascom and a Zimbabwean consortium, could raise its active subscriber base to 3.3 million, Telecel's general manager Angeline Vere told a parliamentary committee. Telecel controls 28 percent of market share, trailing behind Econet Wireless commanding over 50 percent of market share.
Vere said Telecel has a switching capacity of 5 million.
"Our major challenge is the high cost of borrowing to fund this capital intensive investment," she said. "We are also looking at increasing 3G reach and have started on our fibre optic connectivity."
She also said the company's mobile banking platform TeleCash has facilitated the transfer of 15 million U.S. dollars since it was launched in February this year.
Mobile phones have become a common gadget for ordinary Zimbabweans. Government data showed that Zimbabwe, with 13 million population, has 13.5 million active mobile phone subscribers being registered by the end of 2013.