Onatel secures USD30m loan from Huawei to fund ONAMOB network modernisation
15 September 2017
The government of Burundi has revealed plans to modernise the network of ONAMOB, the mobile arm of state-owned incumbent operator Office National des Telecommunications (Onatel), via a USD30 million loan from Huawei International Limited.
The Chinese vendor has put the money at the Burundian government’s disposal – repayable over ten years – which Philippe Nzobonariba, the secretary-general and spokesman of the government, says will be ‘a survival investment’ for the company.
Firstly, the investment will enable ONAMOB to provide a better population coverage and give it better products and services with which to compete with dominant private mobile operators, while secondly, the monies will drive revenues to help rebuild the company’s long term future.
Source: All Africa