TELECEL Zimbabwe has announced its plan to expand its network system to regain its market share following a poor performance in the fourth Quarter of 2020.
In a statement the telecommunication giant said it intends to raise fresh capital through several initiatives which include joint ventures.
“There are a couple of initiatives to raise capital
“That makes it attractive for equity adjustments, joint ventures, lending but I can’t get into specifics because of non-disclosure expectations,” said Telecel Chairman Selby Hwacha.
According to the result recorded by Postal and Telecommunication Regulatory Authority of Zimbabwe (POTRAZ), Telecel has been underperforming for several years ending 2020 with just a 5.5% market share of mobile subscribers behind Netone(28%) and Econet(66.5%) from a total of 13,191,708 million subscribers.Its mobile money service Telecash was the only operator to record a decline in active users with a massive 72.8% decline in mobile money subscriptions from 19,198 to 5,222 subscribers which constitutes a market share of just 0.1% active mobile money subscriptions.
The government-owned firm realized a 0.7% decline in voice traffic market share from 2.3% to reach 2.1% in the quarter under review.
Telecel also lost a 0.6% market share in mobile Internet and data traffic from 1.2% to reach 0.6%. The company also deployed just two bases as compared to 11 and 22 made by its competition Econet and netone respectively. In total telecel has 664 2G base stations, 437 3G base stations, and 17 4G base stations while the countries leading mobile network operator Econet has 2,627 2G, 1,650 3G, and 5 726 4G base stations.