Telecel Zim looking for $200m loan to revive its operations

Telecel Zimbabwe is seeking $200 million from investors in order to revive its operations. Telecel is the smallest mobile network operator with 1.8 million active subscribers. This number is bot very impressive considering that the company has 4.6 million total subscribers. The Government owns 60 percent of Telecel Zimbabwe, with the remaining 40 percent owned by the Empowerment Consortium.

Minister for Information, Communication and Technology and Courier Services Supa Mandiwanzira told a Telecel briefing on Wednesday

At this stage, negotiations and discussions are ongoing with financiers for an investment of $200 million to kick start the Telecel project, that is the project going forward with the government as the major shareholder. More details of the funding will be communicated in due course

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