Telecom Namibia gets green light for Angola

10 May 2005

According to the Angolan Private Investment Agency (ANIP), Telecom Namibia has been approved to operate in Angola’s fixed line market through its controlling stake in Mundo Startel. The start-up company is the first and only private operator licensed thus far to provide residential and corporate fixed line services as well as public telephones and internet access. Telecom Namibia signed a shareholder agreement for 44% of Mundo Startel last year. The other shareholders in the venture include the Commercial Bank of Angola, Mundo Telecommunications, Jemba Technical Assistance and two private investors. The Namibian firm will have to invest USD14 million over the next three years to get Mundo off the ground.