Home » Business » Liquid Telecoms Raises U.S $150 Million for Expansion

Econet Wireless Global’s subsidiary, Liquid Telecoms has so far covered more than 7 000 kilometres of fibre in Zimbabwe after the company successfully raised $150 million for further expansion of fibre network.

The funds were raised through a loan facilitated by Standard Chartered Bank and provided for by several global investment banks. The investment is currently being used to extend its fibre network into additional countries as part of an expansion strategy.

It will also go to the company’s ongoing Fibre to the Home builds in Kenya, Rwanda, Zambia and Zimbabwe which will provide homes and businesses with unlimited data packages and 100 megabytes per second.

Liquid Telecoms Zimbabwe managing director Mr Wellington Makamure yesterday said the fibre is working according to plan and the company is trying hard to provide fast and accessible network to the consumers.

“We have invested in excess of $150 million so far and out of that investment we have covered over 7 000 kilometres of fibre in the country,” said Mr Makamure.

Meanwhile CEC Liquid Telecom yesterday announced the expansion of its business in Zambia following the full acquisition of Realtime, the second largest Internet Service Provider in Zambia. Liquid Telecom – a Zimbabwe founded company – has built the largest independent fibre network in Africa.

Realtime Technology Alliance Africa Ltd will now focus on the retail and business markets in Zambia providing communications services to homes and businesses of all sizes across Zambia, using the satellite and fibre networks of CEC Liquid Telecom as well as its existing WiMAX network.

Mr Makamure who is also CEC Liquid Board Member and group executive for Southern Africa said “Realtime will be one of the first resellers for Fibroniks, Liquid Telecom’s Fibre To The Home service over which homes and businesses of all sizes can receive 100Mbps, the fastest broadband ever available in Zambia. Here in Zimbabwe, we have rolled out Fibroniks through the biggest ISP in our country – ZOL, which is wholly owned by Liquid Telecom.”

He added that the Fibroniks service – with its unlimited data packages – is initially available to 15 600 homes and businesses in Lusaka including areas such as Rhodes Park, Northmead, Long Acres, Sunningdale and Kabulonga.

The FTTH build will continue and is expected to reach 20 000 premises in Lusaka by year-end. Services will become available as each targeted area is connected, with a likelihood that the build will extend to Copperbelt towns by the end of the year.

CEC Liquid Telecom will continue to provide wholesale products and services to all licensed operators in Zambia. Realtime will receive network access from CEC Liquid Telecom on the same terms as other providers.

CEC Liquid Telecommunications Limited is a joint venture between The Liquid Telecom Group and Copperbelt Energy Corporation PLC, a Zambian power generation, transmission and distribution company.

It has established itself as the country’s most reliable and consistent broadband provider. Its nationwide fibre network is the first fully redundant network in Zambia, providing SLAs at a level not previously experienced in the country.

International access is through the multi-award-winning pan-African fibre and satellite networks of The Liquid Telecom Group.

Andrew Kapula, CEC Liquid Telecom Managing Director, said “This is another major milestone for both our company and the Zambian telecoms market.

“We will continue to invest in Zambia so that we can provide operators, ISPs, homes and businesses of all sizes with the fastest and most reliable broadband available in Zambia. We believe in the power of connectivity to change lives and will continue to build a high-quality network that will enable our people and businesses to prosper.”

Source : The Herald