NetOne seeking USD71m loan to fund network expansion

23 May 2018

Zimbabwe’s state-owned cellco NetOne is close to securing a USD71 million loan to help finance the upgrade and expansion of its mobile network. A report from The Herald says the operator is in the final stages of negotiations with the China Exim Bank. NetOne chief executive Lazurus Muchenje is quoted as saying: ‘We have areas that were having poor connectivity and we are now moving to connect them to Zimbabwe and the world.’ The network expansion project is expected to begin later this year.

Zimbabwe, NetOne