No joy yet for NetOne

DELAYS by the government to finalise the proposed privatisation of telecommunications company, NetOne, has stalled plans to court a strategic partner, three years after the proposal was first made.

REPORT BY VICTORIA MTOMBA BUSINESS REPORTER

State Enterprise Restructuring Agency executive director Edgar Nyoni yesterday said NetOne was still scouting for a strategic partner, but Cabinet was yet to give a nod.

“The issue is going to be discussed by the inter-ministerial committee on commercialisation and privatisation of parastatals before it goes for consideration by Cabinet. The strategy for the shareholding that would be disposed off is not yet there,” Nyoni said.

He said the committee would come up with proposals on the envisaged shareholding structure.

NetOne’s managing director Reward Kangai said it was clear that a partner should be secured for the company.

“It’s still under consideration; I can’t disclose the partners. It’s all subject to the process. It’s a question of processes being pursued and that there is full transparency and maximum benefit to shareholders,” Kangai said.

Last year, Transport and Communications minister Nicholas Goche told local media that a possible strategic partnership with South Africa-based MTN was under discussion, among with other partners.

NetOne intends to construct its $10 million head office along Arcturus Road near Support Police Unit residential camp.

The company said the head office would house telecommunication equipment, associated masts, sports facility and for staff other approved club members, and a water supply system comprising on site boreholes.

Kangai said the project was yet to receive a budget approval from the government.

“We have not started building at our head office, it’s still subject to the approval of our budget by government,” he said.

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7 Comments

  1. we are not surprised by the delay because everything about this country is taken for granted, thanks to the revolutionary party. Critical business decisions, people’s health and welfare, decaying service delivery in rural and urban areas, drugs and medical equipment shortages in hospitals, a dying economy, plummeting education standards, “indigenisation of economy” and a host of all critical issues. The only urgent issue that they need to address in the monster called GNU which is the “root cause” of the evil spell that is upon us. No wonder why the young generation is leaving in droves to settle abroad where the future is more promising. Cry the beloved country.

  2. Mupfana weBikini

    Netone you shall continue to play second fiddle to ECONET till donkeys grow horns.VIVA ECONET hameno havo vari kuNETONE munosiiwa nenguva.

  3. Whats your problem, you have your Econet Ecocash and Eco miracle money and soon Eco chidhoma.

  4. Please invest that US10 million on core business that is of providing telecommunication to the people of zimbabwe instead of building your headoffice.you are not in the real estate business.

  5. That is gavhumendi and how it operates. May the late Netone rest in pieces. Viva Econet.

  6. This is pure madness. Kutanga neSports facility shuwa mabase stations mune mangani vaKangayi. Expand first. Core buss baba. Munopa ana Econet mbiri yenhema nekusava nefocus. Hezvo makanotenga MClass nyowani asi vashandi varikukwangwaya. Hamudiwo kukura shuwa. Ndimi makatanga nemobile ana econet vachienda thru yo switch ikozvino ndimi mave pasi pamuswe chaipo. Privatisation imbomirayi zvenyu moda kudya mari yaInvester imi. Munoshoresa hurumende mhani.

  7. No wonder why they are not growing…instead of expanding their network infrastructure they think of wasting $10m on a head office yet they have a very good one!

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