Tanzanian multi-millionaire tycoon Said Bakhresa is on the verge of launching a mobile network throughout the country within the next few months.
According to a report by Tanzania’s Citizen newspaper, Azam Telecom (T) Limited, a company that is owned by the Tanzanian businessman, recently won spectrum in the 700 MHz band during a recent auction by the Tanzania Communications Regulatory Authority (TCRA).
Azam Telecom will be launching its 4G network in Tanzania, though a date has not been announced.
Azam’s entry into the telecoms space will stir more competition with existing operators Zantel, Airtel, Tigo, TTCL and Vodacom Tanzania, whose leading individual shareholder Rostam Azizi was once Tanzania’s richest man.
Azam Telecom is Bakhresa’s latest venture since launching a pay TV service in 2013. The $800 million (revenues) Bakhresa Group, which Said Bakhresa founded and chairs, is one of Tanzania’s largest industrial conglomerates and has its tentacles in agribusiness, beverages, logistics, media, oil trading, recycling and packaging.