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NetOne secures USD 60m funding, to launch mobile broadband by year end

NewsDay, reports that state owned mobile network operator NetOne has secured US$ 60 million for mobile broadband services. According to the paper, the funds have been sourced from China Export-Import Bank, Infrastructure Development Bank of Zimbabwe (IDBZ), CBZ Bank and BancABC.

NetOne remains the only mobile operator that is not offering commercial mobile broadband services locally. It’s competitors, Econet, Telecel and (since 2 months ago) Africom all offer data services in addition to regular voice telephony.

In the report, NetOne Managing Director, Mr. Reward Kangai, also disclosed that NetOne will be sourcing its bandwidth from fixed line operator TelOne. Through WIOCC, TelOne is a shareholder in and has connected to the EASSy optic fibre at the Zimbabwe’s border with Mozambique in Mutare. The fibre cable has a total lit capacity of 2.48 Gigabits per second.

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NetOne has also promised to launch mobile broadband services by the end of this year.


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6 thoughts on “NetOne secures USD 60m funding, to launch mobile broadband by year end

  1. Netone thinks that its problems relating to a small subscriber base is to do with 3G. I am afraid that they may be further cementing their position at the bottom by acquiring huge loans which are likely going to be squandered.

    1. for your own info netone is no longer the smallest company.check with potraz or go to kopje plaza.netone overtook telecel a few months ago to secure second spot, it’s just that netone does not brag about it  like telecel used to.it’s good that netone is joining the fray and as pioneers you will actually realise kuti they might offer a better service than other operators.i have a contract line and i am accessing fast internet access on a trial basis from net one right now and the speeds are amazing.

  2. how many times has net one claimed to have receiced funding from Afrexim or Chinese Partner and the results never show…Its becoming more like a recycled PR article….

  3. netone might just offer video calling and mms services upon launching something that the other players have not done, just wait and see.

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