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NetOne to embark on 3rd phase of capital expansion project

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Netone will soon embark on the third phase of its capital expansion project at a cost of nearly half a billion dollars, as it emerged it is finalising the second phase where it is investing $218 million. Information Communication Technology, Postal and Courier Services Minister Supa Mandiwanzira said in a recent interview that NetOne would invest about $500 million in the third phase of the projects targeting latest broadband technology and increased rural coverage. In terms of Telecel Zimbabwe, the Government is rolling out an ambitious investment programme for the company after acquiring a controlling 60 percent stake previously held by Vimpelcom of Netherlands. Phase two, which had an initial completion deadline of September 2016 targeted 2 300 stations while an additional 3 000 would be constructed in 2017 under phase three of a $485 million investment. Phase two of the project saw NetOne having the widest fourth generation (4G) technology, Long Term Evolution, while the company is targeting doubling its subscriber base to 8 million by end of 2017. – Herald

 

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