More Africa NewsZimbabwe: TelOne impacted by government debt

May 6, 2021by myles0
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The government of Zimbabwe owes state-owned fixed line telco TelOne ZWL945 million (USD2.61 million) which the operator claims has constrained its cash flow and operations to the extent that it is ‘facing difficulty in setting its key service providers and statutory obligations’. A report from 263 Chat says that the government debt accounted for around 60% of TelOne’s total outstanding payments of ZWL1.58 billion at 31 March 2021. Central government owes the telco ZWL799 million while parastatals and state-owned enterprises account for debts totalling ZWL146 million. TelOne has said it needs funding of USD25 million annually for the next five years to make necessary improvements to its infrastructure.

Source: Commsupdate

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