State-owned national PTO Tanzania Telecommunications Company Limited (TTCL) is seeking USD300 million to help fund the deployment of telecoms networks and services across the country, the Tanzania Daily news reports, citing the operator’s acting CEO Waziri Kindamba. The funding is required to implement the first phase of TTCL’s strategy, which aims to cover all regions with affordable and reliable telecoms services, including 4G LTE, by the end of this year. According to Mr Kindamba, Tanzania Investment Bank (TIB) and other financial institutions have shown interest in providing funding to enable TTCL to expand its infrastructure nationwide. ‘We are now implementing our ambitious strategic plan on massive investment, with the firm targeting to cover the entire country with affordable and reliable services,’ he said.
TeleGeography’s GlobalComms Database states that TTCL is currently restructuring its operations after the government took full control in June 2016 when it acquired a 35% stake held by Indian telecoms firm Bharti Airtel. The company launched commercial 4G LTE services in Dar es Salaam in December 2015, before rolling out LTE-Advanced (LTE-A) network in November last year.