[newsday] Zimbabwe’s telecommunications sector will this year have a fifth player coming on board under the name Valley Technology, a company that is set to pioneer the introduction of fourth-generation technology (4G) on the local market.
Valley Technology a subsidiary of Spiritage Zimbabwe is set to commercially launch Internet, mobile and fixed telephone line facilities in the country before year end.
Spiritage group chief executive officer Zachary Wazara said the company currently has a capacity of providing mobile and fixed Internet access to more than 500 000 subscribers in the country.
Wazara said his company would provide affordable 4G services on the local market compared to the 3G which currently available.
Post and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has already allocated Valley Technology with an operational prefix 0822.
“We were licensed last year with an Internet Access Protocol class A meaning we can build and provide infrastructure and offer services on Internet protocol-based services,” said Parkvoo Mutendera, a director in the investment company.
The company will provide sms, Internet and voice-over internet protocol facilities (Voip). Voip enables subscribers to communicate using live voice messages over the Internet.
“Valley Technology has access to international bandwidth and will be accessible in high-density areas. “For us to be satisfied we need to invest another $25-$30 million into this business,” Wazara said.
The company would however not disclose the source of its funding but said some of the projects had already been financed while some of these projects will be financed through equity and debt.
The company will invest $20 million for its health subsidiaries that include Medical Air Rescue Services, Spirit Air (scheduled and medical evacuation) and an additional $30 million required for its Citimed Hospitals Suburban Medical Centre, South Medical Hospital.
Spirit Max and Spirit Led are the payments platforms for the company.
Spiritage has investment interests in healthcare and payments services.
New player in Zim telecommunications