Masawara Positions for ICT Sector

Masawara — The Alternative Investment Market listed entity, says it is strategically positioning itself in Zimbabwe's mining and Information Communication Research sectors.

He said the current cash resources stood at so then over US$20 million and the group was looking at investment in high growth cash generation businesses that would deliver significant long-term value.

Masawara, which concluded a second placement on AIM on May 9 raising US$23,5 million, invests in entities where it has the ability to influence the business at board level.

Masawara has as well procured state-of-the-art infrastructure from Cisco and Alvarion and is set to pose huge competition to existing telecommunications service providers through its subsidiary, Telerix Communications.

The group holds an Internet Access Provider Class A Licence that legally entitles it to construct, operate, develop and maintain a public data internet access and voice over internet protocol in the country.

Masawara will shortly develop fixed, nomadic and fully mobile broadband services via fibre and WiMax network architecture. The group anticipates that the business will be a competitively priced supplier of reliable high speed internet.