Telecel Zimbabwe, one of the top three mobile network operators in Zimbabwe is under huge pressure to set off outstanding licence fees and government debts. The company is reported to be owing USD90.65 million of the USD137.5 million licence renewal fee which was meant to be paid in instalments from 2013 to 2020. Telecel also owed another USD2.9 million in monthly and other fees as at 30 November 2018.
Speaking to Business Times, Telecel’s CEO, Angeline Vere said that the mobile operator like any other organisation suffered immensely from the economic downturn. Vere is however optimistic that Telecel shall meet its financial obligations. She added:
We have obviously been affected by the downturn in the economy like any other organisation in this economy, but we are in constant communication with the regulatory authorities to explore ways of ensuring we comply as expected.
Telecel is 60%-owned by the government of Zimbabwe, with the remainder held by local investment group Empowerment Corporation.