Egypt’s Orascom Telecom (part of the Russian Vimpelcom group) has reinforced its commitment to its majority-owned mobile subsidiary Telecel Zimbabwe with an announcement that it will invest USD70 million in the short term to develop the GSM operator’s national 2G and fledgling 3G cellular services. As reported by the Zimbabwean Independent newspaper, Orascom’s African Cluster CEO, Vincenzo Nesci, said there is ‘huge potential’ for expanding mobile services in Zimbabwe. ‘The USD70 million investment is expected to cover expansion and upgrading of both voice and data services to ensure Telecel’s clients are able to access a fuller range of mobile communications services in line with worldwide developments,’ said Nesci, adding that there would also be a major training initiative to ensure both managerial and technical skills are developed on par with those at other units of the Orascom group
Taken from:
OVETEL Telecel Zimbabwe in USD70m investment drive
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