More Africa NewsZimbabwe’s TelOne reports 5% rise in 2018 sales

July 2, 2019by myles

Zimbabwe’s state-owned fixed line operator TelOne has reported a 5% increase in revenues for full-year 2018 to USD125 million. EBITDA climbed from USD19 million to USD21 million over the same period, while pre-tax losses fell from USD39 million in 2017 to USD19.6 million last year, TechZim reports. The firm claimed just over 100,000 fixed broadband subscribers and around 269,000 fixed telephony customers at the end of 2018, up from 87,851 and 264,150 respectively a year earlier.

As previously reported in CommsUpdate, Zimbabwe’s government has said that it may assume some of TelOne’s USD380 million legacy debt in order to make the telco a more attractive prospect for a potential buyer. It is expected that TelOne will be merged with wireless sister company NetOne before the privatisation process gets underway.

Source: TeleGeography

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