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Eutelsat and TelOne (Pvt) Limited Sign Multi-service Agreement to Bring High Quality Broadband Connectivity to Zimbabwe


Regulatory News:

Eutelsat Communications’ (Euronext Paris: ETL), and TelOne (Pvt) Limited, one of Zimbabwe’s leading Internet Service Providers, have signed a master service agreement to bring high quality satellite broadband to Zimbabwe.

Under the terms of the multi-year agreement with Eutelsat’s broadband division, Konnect Africa, beginning in March 2021, TelOne (Pvt) Limited will leverage the operational flexibility and power of the EUTELSAT KONNECT satellite to bring connectivity to households and businesses located in remote and rural locations across Zimbabwe.

EUTELSAT KONNECT is a new-generation, High Throughput Satellite offering unprecedented operational flexibility that has been gradually entering service since November 2020. With 75 Gbps of Ka-band capacity across a network of 65 spotbeams, it provides quasi-complete coverage of Europe and Sub-Saharan Africa.

Commenting on the agreement, Mrs Chipo Mtasa, Managing Director of TelOne (Pvt) Limited said: “By securing this premium capacity and service we will be able to pursue our mission of offering fast, reliable broadband services at an affordable price to homes, businesses, educational institutions and Government departments all over Zimbabwe. We are passionate about making long lasting and meaningful connections through our services, and this will now become a reality for customers in even the remotest regions, in line with in our vision for a digitally enabled society by 2023”.

Guido Merien-van Sprundel of Eutelsat, sales director for Southern Africa of Eutelsat added: “We are delighted to begin this partnership with TelOne (Pvt) Limited to bring Ka-band connectivity to businesses and consumers in Zimbabwe. This agreement, which extends our service to yet another African nation, reflects the significant demand on the African continent for reliable internet services and we look forward to supporting TelOne (Pvt) Limited for many years to come. ”

About Eutelsat Communications

Founded in 1977, Eutelsat Communications is one of the world's leading satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across Video, Data, Government, Fixed and Mobile Broadband markets to communicate effectively to their customers, irrespective of their location. Over 6 600 television channels operated by leading media groups are broadcast by Eutelsat to one billion viewers equipped for DTH reception or connected to terrestrial networks. Headquartered in Paris, with offices and teleports around the globe, Eutelsat assembles 1,200 men and women from 50 countries who are dedicated to delivering the highest quality of service.

Eutelsat Communications is listed on the Euronext Paris Stock Exchange (ticker: ETL).

For more about Eutelsat go to www.eutelsat.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210201005443/en/

Eutelsat Communications Stock

€3.99
-0.500%
The price for the Eutelsat Communications stock decreased slightly today. Compared to yesterday there is a change of -€0.020 (-0.500%).
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Eutelsat Communications stock is not clear.
Based on the current price of 3.99 € the target price of 13 € shows a potential of 226.14% for Eutelsat Communications which would more than double the current price.
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