BURKINA FASO'S INCUMBENT ONATEL SIGNS USD10.7 MILLION GUARANTEE WITH CEDEAO
As part of its forthcoming float valued at USD30 million on the BVRM (Bourse Régionale des Valeurs Mobilières), Burkina Faso's incumbent ONATEL has lined up a USD10.7 million partial guarantee with regional finance institution CEDEAO.
The money is to be used to improve its network plans laid out in its 2001-2005 strategy. The company sees network modernisation as a cornerstone of preparing itself for wider competition and as a company spokesman said:"to better arm ourselves in the face of increased competition from the private sector." At present it has 125,728 fixed lines and 235,000 mobile lines. It hopes to increase this total to 550,937 in five years time.