Mutapa Investment Fund (MIF) CEO John Mangudya said the fund is exploring ways to resolve the “issues” at Telecel Zimbabwe before the telecommunications company can be incorporated into its assets.
Telecel has been in decline, with its subscriber base shrinking to around 305,000 active users by the third quarter of 2025, giving it the smallest market share among Zimbabwe’s three mobile operators.
Its share of the mobile market is now estimated at just 3–4%, and it continues to lose ground to Econet and NetOne, which have been growing steadily.
Speaking during the inaugural Zimpapers Public Lecture Series at the Harare Institute of Technology (HIT) on Friday morning, Mangudya acknowledged the challenges facing Telecel. He said:
“We are aware of the difficulties at Telecel; the priority is to resolve these issues to enhance its competitiveness.
“We can’t simply bring them on board without first ensuring their viability; otherwise, we would be throwing money down the drain.
“There is also the issue of shareholding. The Government owns 60 per cent, and we can’t just take the other 40 per cent and say you are now 100 per cent owned by the Government, so it’s a process.”
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