TINASHE MAKICHI
Government has started the process which will culminate in the privatisation of TelOne with the board of the State-owned telecommunications firm currently seized with crafting the right model for the plan.
A well-placed source at the telecommunications firm told Business Times that preliminary processes that will lead to the privatisation of TelOne had started and part of the company’s senior management especially the legal department is seized with the matter.
“The preliminary processes leading to the privatisation of the state enterprises have started and the company’s legal team is seized with the matter and is currently putting together the right models for this privatisation,” said the source.
Early this year, Finance and Economic Development minister Patrick Chinamasa said TelOne, alongside the Infrastructure Development Bank of Zimbabwe, Zimpost and the People’s Own Savings Bank, NetOne and Telecel Zimbabwe would be partially privatised.
Efforts to get a comment from TelOne managing director Chipo Mutasa were fruitless while board chairperson Juliet Machoba did not respond by the time of going to print.
The diversified communications firm has been one of the better performing state enterprises and in the third quarter of 2017 the firm recorded a 6,3 percent jump in revenue largely driven by voice and Internet services.
