Business / Companies
Econet signs a $70 million partnership deal
30 Apr 2011 at 06:18hrs | Views
Econet Wireless has signed a US$70 million partnership deal with Liquid Telecommunications Holdings (Liquid).
The deal will help Econet Wireless broaden its universal access to telephony services goal by strengthening its ISP Ecoweb.
According to Econet chairman Tawanda Nyambirai, Liquid took a 49 percent stake in the Zimbabwean ISP, and will also provide a significant amount of money to roll–out or install a fibre optic network. The business will now focus on optimising the current capital investments to improve network quality and enhance its data capacity, and value–added services, adding that the deployment of network equipment acquired in the past year would be completed in the next financial year.
Nyambirai added that the fibre optic project will boost capacity and transmission backbone, while the launch of Econet's broadband service will enable Econet to unveil several value–added services soon, all in the innovation pipeline.
The deal will help Econet Wireless broaden its universal access to telephony services goal by strengthening its ISP Ecoweb.
According to Econet chairman Tawanda Nyambirai, Liquid took a 49 percent stake in the Zimbabwean ISP, and will also provide a significant amount of money to roll–out or install a fibre optic network. The business will now focus on optimising the current capital investments to improve network quality and enhance its data capacity, and value–added services, adding that the deployment of network equipment acquired in the past year would be completed in the next financial year.
Nyambirai added that the fibre optic project will boost capacity and transmission backbone, while the launch of Econet's broadband service will enable Econet to unveil several value–added services soon, all in the innovation pipeline.
Source - Byo24News
