HARARE – Telecel Zimbabwe has been put up for potential investment under a corporate rescue process, as efforts intensify to revive the struggling telecoms firm whose market presence has sharply declined over the years.
Grant Thornton, acting as transaction advisor and corporate rescue facilitator, has invited interested investors to participate in the recapitalisation of the business.
In a formal notice, the company confirmed that “tenders are hereby invited from interested parties to invest in Telecel Zimbabwe,” with prospective investors required to register their interest and access detailed operational information through a controlled data room process.
The notice further emphasised that the process is not a public share offer, stating: “This document is not a prospectus and does not constitute or form part of any solicitation or invitation or any offer to the public to purchase Telecel Zimbabwe or to subscribe to any ordinary shares or any other shares in Telecel Zimbabwe.”
Once Zimbabwe’s second-largest mobile operator, Telecel has seen its position eroded dramatically. The company now accounts for less than 2% of total mobile subscribers, carries only 0.02% of voice traffic, and contributes just 0.16% of national internet usage.
Its infrastructure footprint has also diminished significantly, with only 17 LTE base stations in operation—representing approximately 0.5% of the country’s total network capacity.
Industry analysts attribute the decline to prolonged under-investment, largely stemming from shareholder disputes that disrupted strategic direction and capital injection. These tensions culminated in the government acquiring a controversial 60% stake through Zarnet.
The ongoing corporate rescue process will see independent practitioners assume control of the company’s restructuring, with the aim of stabilising operations, attracting fresh capital, and restoring competitiveness in Zimbabwe’s highly concentrated telecoms market.
Interested investors are required to complete registration procedures, including signing non-disclosure agreements and paying a documentation fee, before gaining access to Telecel’s financial and operational data.
The outcome of the investment process is expected to determine whether Telecel can be repositioned as a viable player or continue its decline in a market dominated by larger competitors.
