Econet Soft-Pedals In $20m Dispute With Zimbabwe-Owned NetOne

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VENTURES AFRICA – Mobile telecoms service provider Econet Wireless has tentatively allowed interconnection with Zimbabwe-owned NetOne until Monday when the state’s court is expected to decide on the financial dispute between both companies.

According to Reuters, Econet on Thursday suspended interconnection services to NetOne, claiming the national telecom provider owed it $20 million for interconnection services rendered since 2009.

An interconnection service is a business service rendered between telecommunications companies for the purpose of interconnecting and granting telecommunications traffic. Interconnect agreements are found both in the public switched telephone networks and the Internet.

Econet wireless is a diversified telecommunications group with operations in Africa, Europe, South America and East Asia Pacific. With 6.5 million local subscribers, Econet is the largest mobile telecoms operator in Zimbabwe.