Categories: Stories

TelOne recovers $100m in debts

State-owned fixed line operator TelOne sees four percent growth in revenue in 2015 after it recovered $100 million from debtors that would improve its working capital position, managing director Chipo Mtasa has said.

Last year, TelOne engaged debt collectors to recover $190 million by its customers, including $40 million owed by government in unpaid telephone bills.

“Our projects for the year will be focusing on expanding broadband connectivity in the country as well as improvement of our client services systems.  TelOne envisages a 4 percent increase in revenue this year,” Mtasa said today.

“The projects will be funded from various sources which include internal TelOne funding and loans secured from various sources with the support from the Shareholder, the Government of Zimbabwe.”

Mtasa said the company is bullish about 2015 and will focus on network expansion and revenue growth. However, its capital expenditure for the year is still under discussion and subject to approval by government.

She said TelOne will expand fibre access to homes through the Gigabit Passive Optical Network (GPON).

The company also intends to set up a Data Centre which will see TelOne offer customers the opportunity to rent virtual servers, provide software development and testing platforms as well as web and email hosting services among other benefits.

In June last year, Mtasa said that TelOne expects broadband and data services to contribute a quarter of its total revenue from 14 percent last year.- The Source

(112 VIEWS)

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

Reserve Bank of Zimbabwe expects more foreign currency sellers to join the interbank market

The gazetting into law of the payment of quarterly taxes on a 50-50 basis in…

December 4, 2024

Zimbabwe 2025 citizens’ budget

Zimbabwe has today unveiled a ZiG276.4 billion budget for 2025 during which it expects the…

November 28, 2024

To go or not to go- Mnangagwa in a quandary

Zimbabwe President Emmerson Mnangagwa has repeatedly stated that he is not going to contest a…

November 25, 2024

ZiG loses steam, falls against US dollar for five consecutive days

The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…

November 22, 2024

Indian think tank says Starlink is a wolf in sheep’s clothing

An Indian think tank has described Starlink, a satellite internet service provider which recently entered…

November 18, 2024

ZiG firms against US dollar for 10 days running but people still do not have confidence in the currency

Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…

November 16, 2024