Econet sets up new headquarters in Botswana to launch global assault

Zimbabwe-based telecoms group Econet Wireless Holdings (EWH) has set up a new company in Botswana to act as a headquarters for the group’s operations in ten countries worldwide. In a statement last week from its international division, Econet Wireless International (EWI), Econet claims that it has invested USD140 million in the new venture, named Econet Wireless Global (EWG). The statement explained that the decision to choose Botswana as the launch pad for international investments was strongly influenced by tax concessions offered by the country. EWH has interests in wireless, wireline and satellite operations in countries including Botswana, Zimbabwe, Lesotho, Kenya, New Zealand, Nigeria, South Africa and the UK. It recently sold a 14% stake Botswana-based Mascom Wireless, but still exerts shareholder influence in the cellco through UK-registered Econet Wireless Ltd (EWL) and investor group Citizens Investments, which will also hold shares in EWG.