Econet to expand network capacity to 1.2 mln subscribers, says Mboweni

HARARE - Econet's (ECO.ZI) negotiations for a loan to expand its network capacity to 1.2 mln from 800 000 currently are "well advanced", CEO Doug Mboweni told an analysts briefing. However, he said there was "no time scale" for the expansion, which would also result in extended geographical coverage. As of the end of December, Econet had 625 495 subscribers or 45% of the total telecoms market of 1.4 mln. Its share of the mobile phone market sat at 60% with Net*One showing 266 424 subscribers at the end of December and Telecel with 156 508 customers. Tel*One had 352 000. Mboweni said they continue to service the Afrieximbank loan with the RBZ having moved the group's proceeds from roaming to an escrow account. He also said confirmed reports the group was looking at adding an additional digit to the Econet prefix which would allow the network to expand its capacity up to 10 mln. The group was also looking at number portability. Mboweni said the 86 base stations that had been installed to date were all 3G enabled and they hoped to rollout their other products – Wifi, Wimax and GPRS – over the next year along with 3G broadband offerings.