Business / Companies
Zimbabwe frustrate MTN, Safaricom entry
28 Jul 2016 at 12:56hrs | Views
Government is blocking South African and Kenyan telecom giants -MTN and Safaricom from operating in the country to shield local firms.
The country has three mobile networks, Econet, NetOne and Telecel.
Foreign firms have been seeking to operate locally without success.
According to ICT minister Supa Mandiwanzira, MTN and Safaricom have "been knocking" seeking licence's.
"If government did not want Econet to be the largest we could have opened our gates for Safaricom to operate a M-pesa in this market. "We could have allowed MTN to set up in this market and offer the services that Econet offers.
"I can assure you that they come with the huge pocket to dwarf any player in this market. They have been knocking on our doors but we have kept them closed because we want to protect them"he told a meeting in Harare.
MTN had previously attempted to enter the Zimbabwean mobile market through an acquisition of a 49% interest in state-owned NetOne in 2010, though the deal collapsed with some government members opposed to the privatisation of NetOne.
Source - Byo24News
