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Wireless

Eswatini Mobile to invest SZL 500 mln into expansion

Thursday 16 May 2019 | 08:37 CET | News
ESwatini Mobile intends to invest SZL 500 million to give customers a first world communication service, reports The Times. ESwatini is the new name for Swaziland. 

The company said the anticipated investment could be raised from a strategic shareholder and through the sale of shares to be listed to on the Eswatini Stock Exchange (ESE) soon after the company’s listing approval. CEO Jeff Penberton said the money will be invested over the next six months.

Penberton noted that through shareholders funds, short, medium and long term debt to date, up to SZL 600 million had already been pumped into the business. The CEO explained that out of the SZL 600 million, 70 percent of the total amount had been used for network coverage and 30 percent for set up and operational costs. 


 



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Categories: Mobile & Wireless
Companies: Eswatini Mobile
Countries: Eswatini
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