Advertisements
Home » Teleco firms’ investment hits US$4 billion

Teleco firms’ investment hits US$4 billion

0 comments

ZIMBABWE’S telecommunications sector has invested over US$4 billion in the past 15 years, in a bid to improve access to digital services within the country.
This investment aligns with the sector’s commitment to digital innovation to support the National Development Goals and the Global Sustainable Development Agenda.
Telecommunications Operators Association of Zimbabwe (TOAZ) chairperson, Lawrence Nkala, highlighted the importance of digital technology, saying, “About 70 percent of the SDGs are achievable with digital technology.”
“This has resulted in significant progress towards digital inclusion as follows; 97 percent mobile penetration rate against about 46 percent average rate for sub-Saharan Africa; 73 percent internet penetration; 10,6 million internet and data subscribers; 55 percent smartphone penetration and 90 percent mobile money penetration.”
Nkala called on operators and innovators to develop digital solutions for rapid development, leveraging existing infrastructure and connectivity.
The World Bank reports that a 10 percent increase in broadband penetration leads to 1,4 percent GDP growth in developing countries and 1,2 percent in developed countries.
However, while Zimbabwe’s internet penetration rate is 73,3 percent, a rural-urban connectivity gap persists. The country aims to increase internet penetration to over 75 percent by 2025.
Addressing consumer concerns about cost, Nkala said: “Over the past two years, operators have been persistent in seeking ways to land the internet in the country at the least possible cost.”
He emphasised the need for foreign currency to pay for bandwidth and network elements.
Operators are actively sharing infrastructure at over 300 sites nationwide, and the Postal and Telecommunications Reg

Advertisements
Advertisements

Related Posts

Leave a Comment

Advertisements

The Financial Gazette It is southern Africa’s leading business and political newspaper well known for its in-depth and authoritative reportage anchored on providing timely, accurate, fair and balanced news.

Newsletters

Subscribe to The Financial Gazette newsletter for financial & business news worth reading. Let's stay updated!

©2024 The Financial Gazette. A Media Company – All Right Reserved. Designed and Developed by Innovura
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More