Movitel to invest $120m in Mozambique growth

Movitel, Mozambique’s third biggest mobile phone operator, will invest $120 million in the next 12 months to built infrastructure, its chief executive said on Friday.

“We have just been awarded the license and we have twelve months to start. We are going to spend $120 million to build new base stations in remote areas where our competitors do not exist,” chief executive Safura Conceicao said.

Movitel competes with state-run Mozambique Cellular, mCel and Vodacom Mozambique, a unit of South Africa’s Vodacom (VODJ.J).

Movitel, a unit of Vietnam’s Viettel that has joined a consortium of Mozambican investors, said its overall expansion plans meant $400 million of investment in the next five years.

The company was awarded a licence to operate as the country’s third mobile-phone operator in November. – Reuters

Tags: Movitel

Posted by VBN on Jan 12 2011. Filed under Telecommunication. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry