Business / Companies
TelOne engages debt collectors
06 May 2014 at 21:25hrs | Views
The state-owned telecommunications company, TelOne has intensified efforts to recover debt of over $200 million owed by subscribers.
The country's only landline network operator engaged the services of debt collectors to enhance debt moves to recover money owed by its customers.
In a statement, TelOne said the debt collectors will be visiting premises of all clients with outstanding telecommunications service bills from this Tuesday.
The company's performance has been weighed down by a $345 million legacy debt inherited from the PTC era, making it difficult for it to access lines of credit.
TelOne Managing Director, Mrs Chipo Mutasa earlier this year told the Parliamentary Portfolio Committee on Information Communication Technology, Postal and Courier Services that it is working on a business strategy to turnaround its fortunes to a profitable entity from a loss-making position.
Last year, the firm collected $90 million from its debtors and wrote off bad debts amounting to $65 million.
The country's only landline network operator engaged the services of debt collectors to enhance debt moves to recover money owed by its customers.
In a statement, TelOne said the debt collectors will be visiting premises of all clients with outstanding telecommunications service bills from this Tuesday.
The company's performance has been weighed down by a $345 million legacy debt inherited from the PTC era, making it difficult for it to access lines of credit.
TelOne Managing Director, Mrs Chipo Mutasa earlier this year told the Parliamentary Portfolio Committee on Information Communication Technology, Postal and Courier Services that it is working on a business strategy to turnaround its fortunes to a profitable entity from a loss-making position.
Last year, the firm collected $90 million from its debtors and wrote off bad debts amounting to $65 million.
Source - zbc
