Zimbabwe telcos secure Chinese loans

4 Dec 2015

African telecoms group Econet Wireless has secured a USD500 million loan facility from the China Development Bank and equipment vendor ZTE. The telco says that USD300 million of the funds will go towards Econet Wireless Zimbabwe, for investments in its cellular and fibre backbone networks, local newspaper The Herald reports. Meanwhile, Zimbabwe’s state-owned fixed line operator TelOne has agreed a USD98.6 million loan with the Chinese government to help finance its own fibre network rollout.