Select an African
country from the list
for a profile

Calculate the latest currency rates for Africa and world currencies
Find out more...


SA's Econet invests in Burundi

Published: 18-MAY-06

Bujumbura - South Africa-based Econet Wireless has bought a 65 percent stake in Burundi’s ST Cellular S.A..

ST Cellular is Burundi’s third biggest cellular network and Econet plans to increase subscribers four-fold within two years. Burundi has four GSM operators.

While not willing to indicate how much the purchase cost and how much it would spend to achieve its goals, Econet on Thursday said that “the planned network expansion will probably be one of the single largest foreign direct investments in Burundi”.

ST Cellular has a customer base of under 50 000. Econet spokesman Sure Kamhunga said that the company hopes this would be close to 200 000 within 18 to 24 months.

Burundi, with a penetration rate of 2.2 percent, offers mobile operators with a lot of potential for growth. The country has 160 000 subscribers. Africa’s average penetration sits around 15 percent and it is no surprise that operators from Africa and the rest of the world are trying to increase their presence on the continent.

Econet has already got interests in, Botswana, Kenya, Lesotho, Nigeria and Zimbabwe. It also has interests in New Zealand. -BiA Online

Print this page Send this article to a friend

Economic Statistics
Click here for the latest economic statistics graphs.
Find out more...

Market news on your cellphone
Get live JSE listed shares, warrants, major indices, brent crude oil, international markets, agricultural futures & daily market analysis via SMS on your mobile.
Find out more...

Energy in Africa
Energy in Africa is an intelligent and in-depth look at how energy impacts people, places, projects, price and development around the African continent.
Subscribe now...

African Business Leaders Forum
African business and public sector leaders define and construct a prosperous future for the continent.
Find out more...

Online travel bookings
Planning to travel? Book accommodation in Africa & South Africa here.
Book now...

Current Edition
Subscribe to:
» Print magazine
» Online edition
» Energy in Africa

Contact us | Advertising | Subscriptions | Newsletter | About us | Employee Email

All material copyright Business in Africa. All rights reserved. Material may not be published or reproduced in any form without prior written permission. Read these terms & conditions. Read our privacy statement and security statement. Powered by Mail & Guardian Online & The domains, are owned by Business in Africa.