'Privatisation Of Netone Expected To Markedly Improve Its Performance' - Parly Committee

The Parliamentary Portfolio Committee on Information Communication Technology is fully behind government plans to privatise parastatals such as TelOne, NetOne, Zarnet and Telecel.

The Committee chaired by Kuwadzana East MP Charlton Hwende (MDC Alliance) said that privatising the entities will ensure that they will be run profitably and cease to be a drain on the fiscus. The committee report read in part:

… In light of this, the plan by government for partial privatisation of TelOne is expected to bring new opportunities for growth, with anticipation for a positive outlook in terms of revenue, profit as well as debt management, and all these buoyed by broadband and over the top (OTT) services.

For the 2018 financial year, NetOne expects to make a profit. As of October 31 2018, NetOne reported a profit of $14,9 million after cost containment strategies were put in place.

While voice revenue is declining, it is the data revenue which will be the driver of these profits. In addition, future performance is expected to markedly improve due to the pending privatisation of NetOne.

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