Econet network expansion to double subscriber base by year end

4 Feb 2005

Econet Wireless Zimbabwe (EWZ) is planning to spend more than ZWD200 billion (USD36.36 million) on expanding its mobile network, as a result of which it hopes to double it subscriber base by the end of 2005. EWZ is financing the expansion project from its own resources, including the proceeds of the recent sale of its 14% stake in Botswana-based Mascom Wireless, which raised USD14 million. The cellco’s CEO Douglas Mboweni says his company has already purchased 120 base stations, which should be delivered within the next four weeks. EWZ currently has around 260,000 subscribers and hopes to increase this to over 500,000 by the year end.