Liquid Telecom, which is majority owned by Econet Wireless Global, plans to spend $200 million (Sh17.7 billion) across the African countries where it operates over the next year to expand its network, a company executive said on Thursday.
Liquid Telecom is constructing a fibre optic network across southern Africa covering Botswana, Democratic Republic of Congo, Lesotho, South Africa, Zambia and Zimbabwe. It also has a presence in Rwanda, Kenya and Uganda.
So far, the company has 17,000 km of fibre optic cables in southern and eastern Africa.
Ben Roberts, Liquid Telecom Kenya CEO, told reporters the company has raised about $200 million in financing and plans to invest the money in Africa. "We've raised the money. Spending it takes time, so it's as long as it takes to spend it," he said. "It's for investment immediately. But we will be investing it as quickly as we can."
Since March 2013, the company has spent $20 million in Kenya, and has another $30 million to go, he said.
Headquartered in Mauritius, the company also provides satellite and international carrier services to mobile networks, Internet Service Providers and businesses.