Zimbabwean Billionaire's Econet to Bid for Ethiopian Telecom License

econet-logoZimbabwean billionaire businessman Strive Masiyiwa's Econet Global Limited, a telecom company owned by Zimbabwean businessman Strive Masiyiwa, seeks to obtain a telecom license in Ethiopia, Bloomberg reported.

“Econet, through a number of its subsidiaries, is actively developing interests in Ethiopia,” a company spokesman said. “Given that there is a competitive process on new licenses, it would not be appropriate at this stage to discuss our own positioning,” he added.

Following the Ethiopian government's announcement to sell up to 49 percent of the government-owned sole telecom provider in Ethiopia, Ethio Telecom, along with an intent to issue two new telecom licenses, several carriers have been showing interest to venture into Ethiopia's telecom industry. Orange, MTN, and Vodacom have already expressed their interest in the 100-million-plus market.

Econet has operations in Africa in Zimbabwe, Lesotho and Burundi, and investments in Europe and South America. Masiyiwa’s Liquid Telecoms, Africa’s biggest fiber company, has assets across the continent.

Source: Bloomberg


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