Telecel Zimbabwe renews mobile licence for US$137.5 million

Telecel Zimbabwe has reached an agreement with the government to renew its 2G/3G licence in the country for twenty years. The licence renewal fee amounts to US$137.5 million.

Ahmed Abou Doma, Orascom Telecom Holding’s CEO commented: "I am very glad that we reached this agreement with the government of Zimbabwe."

Telecel Zimbabwe is a subsidiary of Egypt’s Orascom Telecom Holding. The renewal of the licence was being held up while the company reduced its shareholding to a minority stake. Whether the company has complied with that ruling was not made clear in the company statement.

The renewal of the licence though should also end the interconnection stalemate between Telecel and Econet.