malvernmugadzikwa
Sunday Mail Reporter
TWENTY generators used to supplement power to network towers reportedly disappeared at Telecel Zimbabwe — one of the country’s three mobile telecommunications companies — amid allegations that a senior manager could have disposed the assets without authorisation.
Sources say some members of the company’s top management seem to be colluding to cover up the issue.
The generators were allegedly stolen from various network sites and transported to a house in Burnside, Bulawayo, where they were sold.
An auditor who was investigating the matter was reportedly prevented from travelling to Bulawayo to conduct further inquiries, raising concerns about attempts to cover up the alleged theft.
The scandal comes at a time when the Government is considering ways to rehabilitate the telecommunications company through the Mutapa Investment Fund.
“Such actions could have significant implications for network stability and customer service,” said a source within the company, who requested anonymity because of the sensitivity of the matter.
Telecel’s chief executive officer Mrs Angeline Vere said the matter was presently under investigation.
“The issue is under investigation and should the evidence point to some misconduct or criminal activity, then the law will be applied accordingly,” she said.
Telecel Zimbabwe, whose market share is below 1 percent, is now under the Mutapa Investment Fund, the country’s sovereign wealth fund.
It currently requires at least US$50 million to enhance operations.
Years of undercapitalisation have weakened the company’s balance sheet, threatening its prospects for growth.
After its licence was issued in 1998, as part of efforts by the Government to empower locals, squabbles among local shareholders who had very limited financial muscle and company management issues saw little investment in the company.
Online Reporter