CEO Douglas Mboweni said the company had secured resources to expand network capacity from the current level of 1.2 million to 5 million subscribers by the end of next year.
Subscribers will hit 2.5 million by the end of the current year, Mboweni said.
Orascom-owned Telecel Zimbabwe recently announced plans for a major expansion drive, saying it had dismantled some old base stations and replaced them with high-capacity equipment as it planned a massive increase in its subscriber base. It has just added 100 000 new lines to its network, the first such move in over five years, bringing its subscriber base to 350 000.
“We will be targeting selected new geographic sites to extend out geographic coverage to most highway corridors, service centres and rural areas in addition to all major cities, towns, commercial and mining centres,” Telecel said in an announcement.
An executive said the market “should expect major announcements soon”.
Government-owned NetOne was said to be planning to shore up its subscriber base from 350 000 subscribers to over 2 million by next year.
Both NetOne and Telecel Zimbabwe are take-over targets. Their expansion would therefore increase the networks' valuations in case of a buyout. Investors value telecommunications stocks using either the network coverage or subscriber capacity.
