State-owned telecom incumbent NetOne is reportedly seeking to renegotiate a US$28m loan sealed with three foreign banks.
According to the Zimbabwe Independent, the company’s CEO Reward Kangai said the group is in talks with the Finance Ministry about…
State-owned telecom incumbent NetOne is reportedly seeking to renegotiate a US$28m loan sealed with three foreign banks.
According to the Zimbabwe Independent, the company’s CEO Reward Kangai said the group is in talks with the Finance Ministry about ways to repay the loan.
Kangai reportedly added that NetOne’s decision to charge customers in foreign currency last year had put it in a better position to repay the debt.
The loan’s lenders include Standard Chartered.
The news follows repeated reports, confirmed by the country’s ICT Minister Nelson Chamisa, that the government plans to open up the capital of NetOne and TelOne to private investors.