Econet Wireless has secured a USD 500-million loan facility through ZTE and the China Development Bank for the procurement of network equipment. The deal will facilitate equipment for Econet in Zimbabwe, Lesotho and Burundi. According to Econet, some of the facilities might also be directed to its fibre network operator Liquid Telecom, which operates in 15 African countries. ZTE, the China Development Bank and Econet have a long-standing relationship, and according to Tracy Mpofu, CEO of Econet Wireless Group, access to this loan means that Econet can further its strategy to consolidate the convergence taking place in the telecommunications space in Africa, including banking, traditional voice and the Internet of Things.
