On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Zimbabwean telecommunications Company, Econet Wireless, said that it had secured a US$20 million loan from the Africa Export-Import Bank (Affreximbank) to expand its cellular phone network in the country. An official, Dakarai Matanga, said the funds would enable the company to add up to 300,000 new subscribers, especially in the rural areas, which are least covered by the country's three mobile phone networks.

- Celtel Tchad has signed a financial agreement with Afriland First Bank . The bank will loan 6 billions CFA francs to the mobile operator to enable it to invest in new telecommunication equipment and to expand network coverage.

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