MERGERS, ACQUISITIONS AND FINANCIAL RESULTS

Mobile-Phone Operator Movicel Invests U.S.$ 1 Billion in switch to GSM

At least USD one billion is the global amount to be invested for next four years, by the Angolan mobile phone company, Movicel, in implementing several expansion and modernisation projects, as well as training of its workers.

The director general of Movicel, Bento Lourenço, released this information Monday, during the launching ceremony for the GSM system of the firm, saying that the expansion and modernisation project will last five years.

According to Bento Lourenço, Movicel is investing in maintenance of CDMA network, launching modern systems and innovating technological products, as well as training of specialised technicians. He said that the training of human resources is one of the main Movicel strategies, once that only with expertise and motivated technicians, the company may get return of the investment.

"Through this amount, the firm has guaranteed the maintenance of 600 direct jobs and fulfilled with all its social responsibilities, such as, paying regular wages, medical and medicine assistance and paying incomes tax, among other obligations", he said.

According to the director, Movicel could, within one year, brought forward projects programmed to be done till the end of 2012 and the launching of GSM network will change the disequilibrium verified in the market of mobile telecommunication of the country. The source said that through GSM system, Movicel provides for clients a product that will permit more choice options in the market and increase of quality services.

Source: Angola Press Agency

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