Zimbabwe's USF has raked in over USD120m

5 Jun 2018

The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has revealed that it has received contributions totalling more than USD120 million to the country’s Universal Service Fund (USF) since 2009. A report from TechZim says that interest on investments has pushed the total above USD130 million. POTRAZ says that while the USF was first established in 1998, contributions made prior to the switch to a multi-currency system in 2009 are now virtually worthless. All telcos are required to pay 1.5% of their annual gross revenues into the fund, which is then used to fund projects such as telemedicine, e-learning schemes and the construction of Community Information Centres (CICs), which offer ICT services to the local population. 80 CICs have been built so far, with more in the pipeline.