Blogging about interesting articles
Econet Wireless Global has acquired Telecel Globe Limited in a $65 million deal, as reported us Chronicle. In a statement, VimpelCom, the Russian-Norwegian parent company of Telecel Globe said Econet now owns 100% of U-COM/Leo in Burundi. With this aquisition, Econet Wireless now serves clients in Zimbabwe, Botswana, South Africa, Nigeria, Lesotho, Burundi and Central Africa Republic.
Econet Wireless has already some experience in Burundi's telecommunications (after buying Spacetel in 2007, a then minor player). Econet Wireless now teaks the lead in the Burundi's growing business of the mobile by buying it's largest operator and extending it's userbase in Burundi with 1200% (rough estimate). The SAR (Subscriber Average Revenue) for Burundi at the moments is a little less than 20.000 BIF (10€ more or less) a year.
Econet Wireless Global is also the parent company of Liquid Telecom, which operates Africa's largest satellite and fibre optic system, with the latter spanning 12 countries.
Econet Wireless Global is itself a wholly owned subsidiary of Econet Wireless Group, a privately held group controlled by leading African telecoms entrepreneur, Strive Masiyiwa, who is based in the United Kingdom. The Economist wrote an interesting article about the rise of Liquid Telecom.