World VoIP NewsEconet moves to take full control in BurundiEconet moves to take full control in Burundi

Econet moves to take full control in Burundi


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Econet Wireless International (EWI) has reportedly offered USD15 million to buy out PME African Infrastructure Opportunities’ 49.5% stake in their mobile joint venture, Econet Wireless Burundi.
Econet Wireless International (EWI) has reportedly offered USD15 million to buy out PME African Infrastructure Opportunities’ 49.5% stake in their mobile joint venture, Econet Wireless Burundi.

PME is a regional investment group which focuses on developing infrastructure opportunities in sub-Saharan Africa. It took a stake in Econet in Burundi after investing USD10 million into the company by way of cash and equity financing to help EWI’s build-out programme in the country. EWI bought into the cellular operator in 2006, at which time it was known as Burundi ST Cellular (Spacetel).

At the time, ST Cellular was one of four domestic cellcos active in the Burundi market with a subscriber base of about 25,000 customers. Econet Wireless Burundi is reported to have signed up 80,000 users by end-2009, a figure it ultimately hopes to boost to 800,000 following the introduction of rechargeable solar handsets into a market plagued by continuous power outages.


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