Movitel, Mozambique’s third biggest cellphone operator, will invest $120-million in the next 12 months to build infrastructure, its chief executive said on Friday.
“We have just been awarded the license and we have twelve months to start. We are going to spend $120-million to build new base stations in remote areas where our competitors do not exist,” chief executive Safura Conceicao said.
Movitel competes with state-run Mozambique Cellular, mCel and Vodacom Mozambique, a unit of South Africa’s Vodacom.
Movitel, a unit of Vietnam’s Viettel that has joined a consortium of Mozambican investors, said its overall expansion plans meant $400-million of investment in the next five years. – Reuters