Online Reporter
Martin Kadzere
Telecel Zimbabwe, the country’s smallest mobile telecommunications company, has resolved to place itself under voluntary corporate rescue, with effect from 27 October 2025.
The resolution, filed with the Master of the High Court and Registrar of Companies, initiates a formal process under Section 122 of the Insolvency Act, aimed at reviving the struggling company, the company’s board said in a statement.
The corporate rescue mechanism provides a legal framework for a financially distressed company to undergo a supervised process designed to restore its financial health and operational viability.
According to Section 122 of the Insolvency Act, a company’s board can resolve to begin this process and place the company under supervision if they have reasonable grounds to believe the company is financially distressed and there is a reasonable prospect of rescuing the company.
“The corporate rescue process is designed to rehabilitate the company and does not signify any intention to liquidate,” said Telecel.
