TelOne’s debt threatens services

12 Sep 2005

State-owned fixed line operator, TelOne, has said its ZBD1.3 trillion (USD216 million) debt poses a serious threat to its role in the telecoms market, with links to South Africa and the UK having been cut due to unpaid debts. The telco is heavily indebted to BT, South Africa’s Telkom, Belguim’s ING-Bank and France’s Banque National de Paris among others. TelOne has denied speculation that it is technically insolvent.

Zimbabwe, TelOne