Axian Group to invest $500m in Tanzania telecom sector
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Axian Group will invest part of the funds in the infrastructure and financial technology of Tanzania.
Axian Group plans to invest $500m in Tanzania following the purchase of telecommunication assets in the East African country and is seeking more deals to further expand in the region.
A consortium led by the Antananarivo, Madagascar-based conglomerate announced on April 19 the purchase of Millicom International Cellular’s Tanzanian operations. Acquiring Tigo Tanzania and Zanzibar Telecom means Axian now controls one of the largest telecommunication operations in the country.
Axian’s investment would be the largest in Tanzania’s telecommunication sector in more than five years, since the government in 2014 announced Vietnam-based Viettel Group’s plan to spend $1bn on developing infrastructure in the country.
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TRCA hands telecoms 38bn/- fines on services
18 Firms will use cash for infrastructure, not deposit it with Treasury
THE Tanzania Communications Regulatory Authority (TCRA) has slapped six telecommunications companies with fines totaling 38bn/- fine for failure to meet standards of quality in service provision.
TCRA Director General James Kilaba told the media yesterday that the regulator conducted a quarterly review from October, November and December last year in which it was found that the companies failed to meet legally binding standards in provision of network availability, including call connection failure rate, call drop rate, call set up time, service coverage and call success rate.