By 
By Ross Moyo
Zimbabwe’s Tele-converged company TelOne (Private) Limited today just rapped up their 10th Annual general Meeting held in Harare at their Centre For Learning.
In a statement, TelOne Head of Corporate Communications, Melody Harry said TelOne (Private) Limited shareholders met today on 28 June 2024 for the 10th annual general meeting (AGM).
Present was Board Chairman Dr. Douglas Zimbango and Chief Executive Officer Eng. Lawrence Nkala who consented to Harry’s statement, which indicated that Zimbabwe’s TelOne (Private) Limited hosted its 10th Annual General Meeting, realizing growth in 2023, posting an inflation adjusted operating profit before tax and depreciation (EBITDA) of ZW $227,9 billion up from ZW $54,6 billion achieved in the previous year amid acute operational challenges owing to exchange rate volatility, the consequent impact on the debtors book as well as the impact of delayed tariff reviews and a littany of other unforseen nitty gritties.
Meanwhile on the other hand, TelOne also recorded at least US$707,064 on restoration costs and US$339,311 in lost revenue and network elements for the period ended 31 December 2023. TelOne’s losses stemmed from 426 network vandalism incidents and a total of 44,200 clients were affected by vandalism-induced downtime in 2023, amounting to a percentage decrease from 51 500 clients that were affected in 2023.
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