Econet To Invest Millions In Network Overhaul

5 years agoFri, 12 Apr 2019 10:52:34 GMT

Econet To Invest Millions In Network Overhaul

Telecoms giant, Econet Wireless Zimbabwe is set to pour millions into a project to upgrade its obsolete equipment.

This comes after Econet subscribers have endured frustration over the past several weeks due to intermittent loss of service.

To that end, Econet has engaged ZTE, a leading Chinese multinational telecommunications equipment and systems company, to provide equipment for a network upgrade.

The project was confirmed by Econet Group CE Douglas Mboweni, who however could not reveal the full details of the expected cost. Said Mboweni:

I can’t possibly give you a figure to the work as you might be aware we are in our closed period. We are hoping to announce our results end of May.
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We will also then give an update as to what else is happening in our organisation in terms of operations. You will then get your specific answers.

Mboweni said that Econet is experiencing challenges in accessing foreign currency. He said:

Our equipment comes from outside Zimbabwe and foreign currency is a challenge that is facing everyone so we always do our best in terms of actually managing that area so we are in consultation with the Reserve Bank of Zimbabwe.
We are also looking at any creative way we can actually pursue in terms of actually bringing equipment into Zimbabwe so we talk to our suppliers as well in terms of what can be done.
We have payment plans with our suppliers we always do unfortunately I can’t divulge the details.