Telecel Zimbabwe renews 2G/3G license

Orascom Telecom Holding has announced that its indirectly held Zimbabwean subsidiary, Telecel Zimbabwe (Private) Limited, has reached an agreement with the government of Zimbabwe to renew its 2G/3G license in Zimbabwe for twenty years for $137.5 million.

Ahmed Abou Doma, CEO, Orascom Telecom Holding said, “I am very glad that we reached this agreement with the government of Zimbabwe. We will continue our drive to develop this market and bring the latest international technology and know-how to serve our increasing customer base in Zimbabwe.”

Orascom Telecom is a leading international telecommunications company operating GSM networks in high growth markets in the Middle East, Africa and Asia, having a total population under license of approximately 459 million with an average mobile telephony penetration of approximately 53 percent as of June 30, 2013.

Orascom Telecom operates GSM networks in Algeria (brand name OTA), Pakistan (brand name Mobilink) and Bangladesh (brand name banglalink) and has an indirect equity shareholding in Globalive Wireless Canada (under brand name Wind Mobile).

In addition it has an indirect equity ownership in Telecel Zimbabwe and, through its subsidiary Telecel Globe, OTH also operates in Burundi and the Central African Republic. Orascom Telecom reached approximately 86 million subscribers as of June 30, 2013.

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