Zimbabwe's Telecel Denies It Failed to Renew Mobile License
Published on: 9th Jan 2014
Note -- this news article is more than a year old.
Zimbabwe's Telecel has denied reports that it has failed to make a payment to renew its mobile operating license, blaming the reports on a confusion about how the license is to be renewed.
The company confirmed that it is obliged to make a payment of US$137.5 million to renew its license for another 20 years. However, it also negotiated a deal to spread the payments over a number of years.
The company has made a down-payment of USD14 million, and says that it has bank records to show that the funds were received at the regulator.
The next payment is due this December.
Telecel has over 2.5 million subscribers.