Telecel Zimbabwe requires $50 million to modernise its network and reverse a sustained decline in its subscriber base.
Grant Thornton, the corporate rescue practitioners for the operator, has invited bids from interested parties to invest in the company as part of a restructuring plan launched after the telco entered voluntary corporate rescue in late 2025.
The operator needs to invest at new funds in capitalisation to fix reliability issues that have crippled user experience for years, say the practitioners.
The network’s stagnation has resulted in an exodus of users.
Telecel Zimbabwe now has 303 284 active subscribers, according to the latest data from the Postal and Telecommunications Regulatory Authority of Zimbabwe.
The regulator noted in its industry report that the telco faces significant stagnation across both voice and mobile internet platforms.
Apart from its network challenges, Telecel Zimbabwe has debts amounting to $240 million, says Grant Thornton.
The company’s assets include 1 123 base stations in rural and urban areas, representing 10.2% of the market share for cellphone towers in Zimbabwe.
Potential investors have until next month to table bids for the operator, which also offers the Telecash mobile money wallet.
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