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Econet Nigeria's MD, Zachary Wazara claims he was "surprised by the number of customers that came to subscribe to our services," adding that the areas in which it first rolled our services were now "buzzing hives of activity." In its heady first few months, mobile uptake has been driven by the affluent, but as the new mobile operators begin to roll-out services, the prices of services will drop.
Econet Wireless will buy 100% of Tess International, a Telekom Malaysia subsidiary established as part of a restructure, in order to acquire the stake, subject to the standard regulatory approvals.
Both MTN and Econet attribute the high prices to what they called the "high cost of doing business in Nigeria".
The Econet Group invested heavily into Econet Media and supported the business over the period it operated without any third-party funding.
iflix entered a joint venture with Econet Global to launch Kwese iflix earlier in 2018, offering viewers a combination of live sport, entertainment and local African and international series and movies on-demand.
Commenting on his association with Kweseacute, John Obi Mikel said, "Its a pleasure and honour to be asked and today become the official ambassador of Kweseacute TV, a subsidiary of Econet Media.
Over 70 speakers will join the event, including companies such as: MTN, Econet Wireless, Vodacom, Millicom, BCX, MainOne, Convergence Partners, SEACOM, Intelsat, Liquid Telecom, Teraco, Uber, Safaricom, Letshego, Wananchi Telecom, Rand Merchant Bank, Michael Jordaan, iROKO, Citi, MallforAfrica, Ethos Private Equity, Investec Asset Management, Primedia, Econet Media, Ringier Africa, Nedbank Capital, Credit Suisse, WIOCC, WorldRemit, Kwese Sports, Kana TV, IFC World Bank and Absa Capital.
Peter Wachira and Ezinne Uko will also get a similar amount in credit from Equity Bank Kenya, and a two week mentorship at Kwese headquarters in South Africa with Strive Masiyiwa, founder and executive chairman of Econet Global.
Other banks are also linking up with mobile money platforms such as EcoCash, which is operated by Econet Wireless and whose user numbers have risen to five million.
Zimbabwe-based Econet Wireless' mobile money transfer service EcoCash has said that it would reduce international limit restrictions on its MasterCard debit card.