Still no investor for Zimbabwe’s NetOne

28 Feb 2020

State-owned Zimbabwe cellco NetOne is still struggling to attract an investor to acquire a majority stake. The government is looking to offload a 74% interest in the firm, which is the second largest of the country’s three mobile network operators (MNOs), along with a stake in its fixed line sister company TelOne. There were some hopes that an African group such as MTN could come onboard as an investor, though a bid has not surfaced. According to a report from IT Web Africa, Zimbabwe’s Finance Minister Mthuli Ncube is still hopeful that a deal can be pushed through, however, with speculation that Telkom of South Africa may be interested. The government has called on the board of NetOne to resolve a number of ongoing issues, which have prompted a series of key executives resign.

Zimbabwe, NetOne