NetOne makes $2.7m loss despite revenues of $115m

Despite making the highest revenue in 5 years, government-owned mobile network operator NetOne still made a loss of $2.6 million in 2016. The company received revenues of $114 million last year, which was an improvement from the $113 million in 2015. The loss has been attributed to legacy debts when the MNO acquired loans from China EximBank. The company has high opeating costs and is spending more than $400 000 per month on diesel for its power stations.

More: TechZim

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