Telone Recovers 20million via Debt Collection

0

By Wilson T Mtetwa
TelOne has announced that it has so far recovered $20 million out of the targeted $50 million through a debt collection campaign which started in August this year.

Chipo Mutasa, the Managing director revealed that the company was targeting another $30million to hit their $80 million intended targetbefore the year ends.
However the Director said this will not be affected by the recent total $80million they slashed from customers who owed it from the last trading years.
“We have recovered $20 million so far since we started the exercise of debt collection. Our debts are being collected from residents and part of the debts being collected are also from private businesses and the government,” Mutasa said.
THE outstanding bills which backdated to 2009 totalled $100 million and the company decided to write off $80 million from the bill. Mutasa said for the remaining $20 million, consumers should now be able to settle their remaining balances.

“The $50 million is still our target and the $80 million bill relief was targeted for long-standing bills which backdated 2009 — which were deemed irrecoverable,” Mutasa said.

TelOne announced a debt relief strategy of $80 million to its customers by cancelling $257,82 per household in view of cash flow challenges currently facing consumers across the market. The bill relief will be effected on October 2013 statements.

The debt relief strategy by TelOne follows a move by government to write off all city council bills which include the debt cancelling of rentals, unit tax, development levy, refuse charges, water and sewer fees, while Zesa Holdings announced a debt relief of $160 million per household.

Strive Masiyiwa In Africa's Billionaires List

Previous article

(Updated) Prophet E Makandiwa Launches Christ TV

Next article

Comments

Leave a Reply