Angolan telecom firm to invest over 350 mln USD in Zambia

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LUANDA, March 20 (Xinhua) -- The Angolan private mobile phone service provider UNITEL SA, 25 percent owned by businesswoman Isabel dos Santos, will be the fourth mobile operator in Zambia, where the Angolan company will invest more than 380 million U.S. Dollars.

Zambia has selected UNITEL International Holdings as the fourth-largest mobile phone service provider in the country, Angolan media reported on Tuesday.

According to a statement by the Zambia Information and Communications Technology Authority, UNITEL has pledged to invest over 380 million U.S. Dollars and create more than 480 direct jobs.

For Zambia's part, the country's telecommunications regulator concluded after a two-year review that more competition is needed to improve services and lower prices.