TelOne to get aggressive on debtors


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State-owned fixed line operator, TelOne says it expects to recover $165 million in debts this year after collecting $123 million last year, an official has said.

The parastatal, which is owed $271 million by various players across the economy, including the government, said in 2016 it managed to collect $123 million after an aggressive debt collection strategy.

“TelOne is currently owed $271 million by debtors who include government, corporates and residential clients. The company was able to collect $123 million in 2016 and is targeting to collect $165 million in 2017,” said Melody Harry, the company’s corporate communications manager.

In 2015, the company recovered $190 million.

As of 2016, companies owed TelOne $92 million, private homes $83 million, the government $41 million, parastatals $36 million and local authorities $10.6 million.

TelOne’s debts amounted to $129 million to various suppliers.

Harry revealed that the company was negatively affected by the operating environment challenges which saw a decline in its revenues.

She said the company has a total broadband capacity of 105 000 ADSL and fibre to the Home combined and this is targeted to grow by 100 percent in 2017.- The Source

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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