Netone to settle $133m balance for licence fee over 10 years

Posted by Maveriq

State owned mobile network operator (MNO) NetOne is negotiating with Potraz to pay off the licence free over the next 10 years. The company has made a deposit of $4 million leaving a balance of $133 million. Up to date, Econet Wireless is the only MNO to have fully paid for its licence after it paid in 2013.

Speaking in Parliament, Netone acting Ceo Brian Mutandiro said:

We have paid $4 million towards the current licence but we are in discussions with the ministry and the Postal Telecommunications Authority of Zimbabwe (Potraz) for a payment plan so that we can pay for the licence.

We have paid a deposit and we are now negotiating a payment plan over 10 years and then there are bi-annual payments until we liquidate that…And then we create a simple fund so that by the time we come to the expiry of the licence we can immediately pay, unlike now when we did not have the money,

More: Daily News

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