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TelOne Welcomes ZITCO Governance Deal

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Local telecommunications giant TelOne has welcomed the finalisation of the Zimbabwe Information Technology

Company (ZITCO) Assembly Plant Governance Structure by cabinet recently.

Speaking to TechnoMag, the TelOne Head Corporate Communications Mrs Melody Harry said, ” The governance structure was approved by the
Cabinet of Zimbabwe on 22nd February 2022.”

ZITCO was established as a joint venture company between TelOne, Government-owned entities Flushcord Enterprises and National Venture
Capital.

Mrs Harry also said in a statement, “The Cabinet approval announced yesterday is a finalisation of the
shareholding structure with TelOne being the major shareholder through a
100%owned subsidiary Telecommunication Infrastructure Gadgets Company
(TIGC Pvt Ltd) áat 58%, Flushcord 16% and National Venture Capital at 26%.

The fact TelOne has been given 58% ownership shows how the government has mandated the Parastatal to continue it’s hold on the market with such velocity.

Mrs Harry added, “As
a legal entity, the company will have its own Board of Directors and will adhere
to all corporate governance regulations.”

“TelOne as a major shareholder will
continue to play a key role in ensuring the success of ZITCO as it moves into full
operationalisation and production.”

ZITCO which is the first ever ICT plant in Zimbabwe was launched by his Excellency President of the Republic of Zimbabwe Dr. E.D. Mnangagwa in
March last year and is involved in the assembling of various ICT devices which
include; desktops, laptops, tablets, prepaid electricity meters and smart water
meters.

This is in line with the development agenda set by the Government of
Zimbabwe on the National Development Strategy 1 (NDS1) which envisages
digitalisation and access to basic utilities as fundamental in the transformation
of the economy.

The company has been operating to date having produced 4 000 ICT gadgets.

Mrs Harry enunciated that , “Through funding contribution by TelOne and with the finalisation of governance structure, ZITCO is expected to now move towards full production with a target of 200 000 ICT devices set to be achieved in 2022.”

Benefits to the Nation to be derived from the establishment of ZITCO Project:
 Improving the supply of ICT devices to public sector workers in order to
enhance Government’s own internal efficiency and capacity to run
e-Government in line with NDS1 and Vision 2030.
 Making ICT devices more readily available to the general public in
Zimbabwe and in particular to the Education sector
 ICT Skills development and knowledge transfer to Zimbabwe
 Job creation and economic growth both within and in adjacent
industries such as logistics, packaging and software development
 Reducing import bill through local production and ultimately generate
foreign currency through exports into the sub-region.

Mrs Harry also expressed delight in this project stating ,
“TelOne is excited to be part of the developmental agenda for the economy.
The Company continues to explore opportunities to broaden its service
capabilities for the benefit of the Nation at large.”

ross moyo

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