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Infrastructure development bank to raise money for TelOne fibre infrastructure

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telone-logo-2012-thThe Infrastructure Development Bank of Zimbabwe revealed yesterday that it will raise money for TelOne’s fibre backbone project through infrastructure bonds that will be floated next year. The bank’s chief executive, Charles Chikaura, said at a briefing that funds raised from the infrastructure bond will be shared between TelOne and Zimbabwe Power Company (ZPC).

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TelOne’s fibre backbone project has so far been quite slow owing, as its now apparent, to funding issues. Another fibre operator locally, Liquid Telecom, has been able to rapidly deploy fibre around the country stretching, as per last update in July, about 2,700km. TelOne’s however has been reported to have completed the Harare to Bulawayo route, Harare to Mutare route, but yet to complete other routes like Harare-Masvingo-BeitBridge and Bulawayo-Victoria Falls.

Source: FinX

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