Business / Companies
Tel-One courts foreign partners for Mobile Phone Project
05 Sep 2011 at 12:41hrs | Views
Tel One, the state run fixed telecommunications operator has engaged foreign investors to raise $100 million required to operationalise the license it holds to offer mobile phone services, an official said Sunday.
The company was granted a licence early this year to set up mobile phone operations but limited financial resources have delayed the project from taking off, reports New Ziana.
Tel-One acting managing director, Hampton Mhlanga said undertaking the project would help rebuild the firms' dwindling subscriber base.
"We are still looking for partners both local and foreign to start this project as we require between US$50 million and US$ 100 million," he said.
"We have not yet concluded anything with anyone as yet, we are still looking."
The introduction of mobile services, Mhlanga said, would help boost Tel- One's dwindling subscriber base.
Currently,Tel-One's has about 300,000 subscribers.
He said the company had applied for a mobile operator's license as a strategy to claw back in the market.
"The introduction of mobile services will ensure that we will be able to reach all those areas we could not because of vandalism and cable theft on our fixed line network," he said.
Since the introduction of the multicurrency system in 2009, Zimbabwe has been experiencing rapid expansion in mobile phone penetration.
Currently, Zimbabwe has three mobile phone operators namely Econet, Telecel and Net One.
An estimated $120 million is required to restore viability at Tel-One
The company was granted a licence early this year to set up mobile phone operations but limited financial resources have delayed the project from taking off, reports New Ziana.
Tel-One acting managing director, Hampton Mhlanga said undertaking the project would help rebuild the firms' dwindling subscriber base.
"We are still looking for partners both local and foreign to start this project as we require between US$50 million and US$ 100 million," he said.
"We have not yet concluded anything with anyone as yet, we are still looking."
The introduction of mobile services, Mhlanga said, would help boost Tel- One's dwindling subscriber base.
He said the company had applied for a mobile operator's license as a strategy to claw back in the market.
"The introduction of mobile services will ensure that we will be able to reach all those areas we could not because of vandalism and cable theft on our fixed line network," he said.
Since the introduction of the multicurrency system in 2009, Zimbabwe has been experiencing rapid expansion in mobile phone penetration.
Currently, Zimbabwe has three mobile phone operators namely Econet, Telecel and Net One.
An estimated $120 million is required to restore viability at Tel-One
Source - New Ziana
