Zamtel spends USD4m on mobile network as IPO looms

12 Nov 2013

State-owned Zambia Telecommunications Company Limited (Zamtel) has reportedly spent USD4 million on upgrading its mobile network in the city of Livingstone, the Zambia Daily Mail reports, citing the company’s chief marketing officer Evans Muhanga. It is understood that the telco’s mobile unit has increased the number of cell sites in operation in the city from 12 to 23, with all of those now offering third-generation connectivity. The executive also confirmed that Zamtel has acquired 128 new 3G high capacity sites which it expects to deploy in the capital Lusaka.

Meanwhile, with Zamtel expected to launch an initial public offer (IPO) on the Lusaka Stock Exchange shortly, Mr Muhanga has called on the Zambian public to support the listing, stating: ‘If you spend your money on Zamtel, you are helping the company to grow. Zamtel is a Zambian firm, we don’t have things like transfer pricing or management fees for the company to pay less taxes or declare a loss.’