Ericsson to Spend $7 Billion on Projects in Sub-Saharan Africa
March 24, 2011, 12:17 PM EDTBy Jerry Bungu
March 24 (Bloomberg) -- Ericcson AB plans to spend about $7 billion on projects in sub-Saharan Africa by 2020, Jonas Stringberg, the company’s chief financial officer for the region, said.
The Stockholm-based company sees an opportunity in Africa for mobile devices because of the poor connectivity of fixed- line phones, Stringberg said today at a conference in Gaborone, Botswana’s capital.
The company, part of a business delegation from Sweden visiting the southern African country, is doing research on how to boost connectivity in rural communites in Kenya, he said.
To contact the reporter on this story: Jerry Bungu in Gaborone at jbungu@bloomberg.net
To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net
