Operators

Telecel Zimbabwe seeks $50m lifeline amid mounting debt crisis

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Telecel Zimbabwe seeks $50m lifeline amid mounting debt crisis

Telecel Zimbabwe is reportedly facing a deep financial crisis, with the operator requiring around $50 million to remain operational.

According to Tech Point Africa, accounting firm Grant Thornton is overseeing a corporate rescue process and has appealed for investors to provide fresh funding. Telecel’s debt is said to stand at roughly $240 million.

The operator has struggled to compete against market leader Econet and state-owned NetOne, with years of underinvestment in network infrastructure leaving it without a 5G presence. Telecel currently operates around 1,000 base stations across the country.

Its subscriber base has also fallen sharply, with only about 300,000 active users in Zimbabwe, a market of around 17 million people.



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