TelOne recovers $100mln in debts, eyes 4pct revenue growth
State-owned fixed line operator TelOne sees four percent growth in revenue in 2015 after it recovered $100 million from debtors that would improve its working capital position, managing director Chipo Mtasa has said.
Last year, TelOne engaged debt collectors to recover $190 million by its customers, including $40 million owed by government in unpaid telephone bills.
“Our projects for the year will be focusing on expanding broadband connectivity in the country as well as improvement of our client services systems. TelOne envisages a 4 percent increase in revenue this year,” Mtasa told The Source on Monday.
“The projects will be funded from various sources which include internal TelOne funding and loans secured from various sources with the support from the Shareholder, the Government of Zimbabwe.”
Mtasa said the company is bullish about 2015 and will focus on network expansion and revenue growth. However, its capital expenditure for the year is still under discussion and subject to approval by government.
She said TelOne will expand fibre access to homes through the Gigabit Passive Optical Network (GPON).
The company also intends to set up a Data Centre which will see TelOne offer customers the opportunity to rent virtual servers, provide software development and testing platforms as well as web and email hosting services among other benefits.
In June last year, Mtasa told The Source that TelOne expects broadband and data services to contribute a quarter of its total revenue from 14 percent last year.