Business / Companies
Netone inflated payments to Powertel
28 Oct 2016 at 07:16hrs | Views
Scandal-ridden mobile phone operator Netone inflated payments to state owned internet provider Powertel by over $1 mln for leased circuits and bandwidth.
The irregular payments affected Netone cash flow position contributing to the company's financial turmoil.
Netone CEO Reward Kangai was sent on forced leave in march after the company's board sanctioned a forensic audit into the affairs of the country's second targets mobile phone operator.
According to the forensic report Netone had invalid supporting documentation for leased circuits for the $1 650 0000 paid to Powertel.
Source - Zimind