Econet Wireless Group plans to make a difference

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Econet Wireless Zimbabwe
courtesy of TheZimbabweIndependent

The Telecommunication company Econet innovative ways can make a difference in Africa for people from different walks of life through great adversity.

Econet Wireless Group is planning to list shares worth $8 billion on the London stock exchange form its assets.

The telecommunication group solves a series of challenges by incorporating other communications companies in African to grow its assets base says, Bloomberg.

In order to achieve this goal, Econet founder Strive Masiyiwa, is in discussions discussing with Millicom International Telecommunications and Media company, controlled by Sweden’s Stenbeck family.

Considering the daunting uphill struggles in Africa, Millicom International is scaling back its operations to countries like Tanzania, Chad, Ghana, and Rwanda. Millicom is serving about 25 million users.

Econet Wireless Group is trying to attract foreign investors internationally is likely to use new funds for acquisitions which would compliment Econet’s operations in Zimbabwe and South Africa and plans on an initial public offer of 1 billion new shares in London. Also, Johannesburg Stock Exchange may be considered as a second listing.

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