Telecel feels the Zimbabwean heat

0
74
  • Zimbabwe’s third-largest mobile telephone operator with 1,051,325 active mobile subscribers.
  • Telecel conceded is facing challenges and failing to meet some of its obligations due to inadequate funding.
  • Telecel’s five-year strategic plan.

The economic meltdown currently experienced in the country is proving to be cancerous and none is spared. This comes after Zimbabwe’s third-largest mobile telephone operator with 1,051,325 active mobile subscribers, Telecel Zimbabwe conceded last week that it is facing challenges and has been failing to meet some of its obligations due to inadequate funding. There has been rumours circulating on social media claiming the mobile operator was even on the verge of shutting down although the authorities at the company have already dismissed the rumours. 

The company through its various social media platforms confirmed through a statement realized, that it is facing challenges in its operations. The shortages of foreign currency in the country is affecting many companies and individuals. 

However, the company is said to be in advanced discussions with the power authorities and Government officials in the Ministry of Energy (and Power Development) to ensure a dedicated power line to the switching centres and in addition, the company is investing in alternative power solutions such as Tesla solar batteries for its base stations.

The company further revealed that plans are also underway to address the issue of recapitalisation and in this regard, a five-year strategic plan has already been formulated and adopted. In addition to that finalisation of all outstanding financial statements is on course and the company is optimistic this will open avenues for new funding from financial institutions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here