Telecom Namibia to stick with Neotel

Telecom Namibia will retain its 12.3% stake in Neotel, South Africa’s second national operator, despite the lack of return on its US$50.5m (NAD429 million) investment.

The has quoted Oiva Angula, Telecom’s senior manager for corporate communications, who stated that such an investment takes a long time to bring in dividends, whilst also pointing out that expanding the network, building infrastructure and gaining customers is a time-consuming venture.

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