Published: 08 September 2013

TelOne says it is still pursuing various strategies in the recapitalisation drive which is aimed at upgrading the parastatal's infrastructure and improving business viability.

The telecommunications firm, which is in dire need of financial injection, is in the process of engaging several local, regional and international financiers for the recapitalisation initiative.

TelOne Managing Director, Mrs Chipo Mutasa said the entity is currently in talks with several financiers and expressed optimism that the finalisation of discussions will pave way for the availing of the much needed funds.

According to the telecommunications firm, at least $30 million is required to kick-start the infrastructure rehabilitation projects across the country.

The fixed telephone operator has been battling to overcome several operational challenges ranging from huge debt, ageing equipment as well as shortage of skilled labour.

Market analysts believe that the recapitalisation of the firm is critical for it to be able to roll out the envisaged expansion projects.
- zbc

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