Newly licenced cellco Econet Wireless Kenya has denied yesterday’s speculation that it could have its licence taken away because it does not have the financial capability to roll out its network. Econet said it plans to launch services after June and, according to executive director Zachary Wazara, it will spend USD500 million (KES37.5 billion) in the network rollout over the next five years.
In a separate story, fixed line incumbent Telkom Kenya is expected to dismiss 12,000 employees this month, in a bid to save KES400 million a month. The operator has said it will spend the money on expansion and modernisation projects.