“Several firms have expressed interest in NetOne (and TelOne) and we are in the process of conducting due diligence on these bids. They will soon be presented to Cabinet before we choose the winner. Yes, MTN and Telkom are some of the companies that have expressed interest in the companies NetOne and TelOne”, said a Government source.
According to NetOne managing director Reward Kangai, the company was worth US$500 million in 2006 and capitalizing the firm would require about US$200 million, he said in a statement last year.
Both NetOne and TelOne operators have been struggling with funding and outdated infrastructure, while competitors Econet and Telecel increased their client bases and services to Zim customers.
Currently, NetOne is the smallest operator in the country with a 500 000 subscriber base, behind Telecel with 600 000 subscribers and Econet Wireless with more than 3 million clients.
Despite being Zimbabwe’s sole fixed operator, TelOne has only 386 000 subscribers in the country, with 50% of their subscribers in the capital Harare and 17% in rural areas, as reported by the Postal and Telecommunications Regulatory Authority of Zimbabwe.