Amid confusion surrounding the future of Zambia’s state-run Zamtel, the country’s President Hakainde Hichilema has appointed a working group to determine the future of the financially beleaguered company. The working group will investigate the viability of the company and suggest appropriate action to save it. A letter leaked to the media, penned by Deputy Secretary...
Zambia’s government has refuted media reports that it has decided to sell financially embattled Zamtel. The country’s Vice-President Mutale Nalumango said: “Government has not discussed the sale of Zamtel as being reported in some sections of society. Zamtel will be recapitalised and not sold. Zamtel in a competitive industry and so recapitalising would enable it...
Zambia’s state-run operator Zamtel needs a recapitalisation to the tune of US$265-million in order to survive, according to the country’s Minister of Science and Technology Felix Mutati. Mutati said the government will not recapitalise the company because it has other financial priorities, adding that about 90% of Zamtel’s revenue is being utilised for administrative expenses. The...
A senior official at state run telecoms firm Zamtel has revealed that government has put the company up for sale. Acting Zamtel Chief Executive Officer Joshua Malupenga told a special virtual staff meeting last week that government has already found an equity partner to run the company. Mr. Malupenga did not disclose the name or...
Zambia Telecommunications Company (Zamtel) says it has begun to install online charging system equipment that the company will use to double its subscriber base by 2023. The company said the US$5.7-million equipment, to be installed over three months, will make the subscriber management process easier. It will also increase the company’s active subscriber capacity from...
Zambia Telecommunications Company (Zamtel) has announced a target of seven million subscribers by the end of 2023, up from its current base of 3.7-million. CEO Sydney Mupeta said the target represents an increase of 20%, from the current 20% to 40%. He said the company has invested in network capacity to enable it to carry...
In a telecoms market disputed with MTN, Airtel and Beeline, Zamtel is increasing its investments. The telecoms company has made broadband connectivity and mobile payment, new growth drivers, the new main axes of its growth strategy. The Zambia Telecommunications Company Limited (Zamtel) announced, Wednesday, July 21, the start of work to expand the capacities of its...
Between March 2019 and March 2021, the value of transactions carried out by Mobile Money in Zambia grew by more than 335% according to the Central Bank. Zamtel, which is also seeking to increase its revenues in this growing segment in the country, is banking on opening up to the international market. Zambia Telecommunications Company Limited...
The future of Zambia’s state-owned telecommunications company Zamtel once again hangs in the balance after the government initiated another request for a bailout package with the International Monetary Fund (IMF). During the last round of negotiations regarding a formal request for financial assistance in 2016, the IMF said it was prepared to hand Zambia a...
Zambia Telecommunications Company (Zamtel) is reportedly asking all of its mobile subscribers to once again register their personal information, though this time the telco is integrating biometric data into the process. According to Agence Ecofin, with a view to combating telecoms fraud and cybercrime, the state-owned operator has directed subscribers to provide it with not...
