NetOne hunts for new CEO

STATE-OWNED telecoms operator, NetOne is looking for a new chief executive officer following the dismissal of Reward Kangai last year on allegations of corruption.

Kangai was initially suspended and the company later terminated his contract.

Brian Mutandiro has been acting CEO since then.

In a vacancy notice published on Sunday, NetOne said the incumbent will report to the board of directors and will lead, in conjunction with the board, the development of the company's strategy to maximise shareholder value and enhance the positioning of the company.

It said the incumbent will lead and "oversee the implementation of NetOne's long and short-term plans in according with its strategy" and "establish parameters for expanding the range of products and services and for introducing new technologies in the business".

Interested candidates have up to May 5 to submit their applications.

Last year, ICT, Postal and Courier Services minister Supa Mandiwanzira promised to restructure the management at NetOne in a bid to resuscitate the ailing mobile operator.

The restructuring has seen the appointment of new executives and the company is set to relaunch its mobile money product.

Since his appointment as acting CEO, Mutandiro has steadied the NetOne ship, with the company closing in on Econet in terms of active subscribers.

Latest statistics from the Postal and Telecommunication Regulatory Authority of Zimbabwe (Potraz) showed that NetOne's active subscriber base grew by 14% last year to 4 712 410 when rivals registered a drop in numbers.

Data from Potraz showed that in 2016, NetOne added 577 690 new active subscribers, while Econet and Telecel's numbers declined by341 787 and 114 387, respectively.

The growth in active subscribers saw NetOne's market share increasing to 36,6% in the fourth quarter ended December 31 up from 36,4% in the previous quarter.

Econet's market share was flat at 49,4%, while Telecel's share dropped to 14% in the quarter from 14,2% in the previous quarter.

Mobile revenue was up 2,4% to $199,2 million. The growth in revenue was spurred on by Econet, which saw its revenue growing by 4,2% in the fourth quarter of 2016 to $152 383 272.

Telecel and NetOne's revenues declined by 2,4% and 3,4% respectively.