Econet secures $307m loan

The country’s largest telecommunications firm, Econet Wireless, says it has secured a $307 million syndicated loan from international financiers to improve its network and fund other activities.

A syndicated loan is provided by a group of lenders and is structured, arranged and administered by one or several commercial banks or investment banks known as arrangers.

Speaking at the company’s analysts briefing in Harare on Tuesday, chief executive Douglas Mboweni said despite having already spent $614 million in capital expenditure in the last three years, there was still scope for growth.

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