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 Friday, June 12, 2009

Zimbabwe’s mobile market leader Econet Wireless has announced that it has sourced the necessary funding to expand its network capacity to five million subscribers by the end of 2010. At the presentation of the cellco’s 2008/09 fiscal year results, CEO Douglas Mboweni said: ‘We have secured the resources, through our parent company, Econet Wireless Group (EWG), to expand capacity further, from the current 2.5 million [users] expansion programme, to go to five million.’ Under its current plan, geographical network coverage is set to be almost doubled by extending the footprint to many smaller towns and main roads whilst improving coverage in existing urban and resort areas, whilst an upgrade to 3G services is also in the pipeline. Mboweni said Econet’s financial team had travelled around the world raising funds with ‘spectacular success.’

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Econet reported that its GSM subscriber base increased by 84% in a year from 636,000 to 1.2 million at end-February 2009. It says it is currently signing up around 5,000 new customers per day, but expects to be able to increase this rate dramatically over the next few months as it installs more new network equipment.

Source: TeleGeography