Econet Seeks US$307mn Financing For Capital Projects

Econet Wireless, Zimbabwe's biggest telecoms service provider, is close to concluding negotiations with a consortium of international banks for a US$307mn syndicated loan facility to finance capital projects, according to the company's chief executive, Douglas Mboweni. Econet dominates Zimbabwe's mobile voice and data markets, a feat partly achieved by superior network investments compared to its competitors. BMI welcomes the prospects of more capital investments by Econet, which we expect to enable it to maintain dominance of the mobile market.

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