Ex-NetOne CEO acquitted

Former NetOne CEO Lazarus Muchenje and seven executives have been acquitted of abuse of office charges by the Supreme Court.

Muchenje had been accused of signing commercial agreements with Bankai International Private Limited of Mauritius and Bridgevoice Inc of the US without Board and ministry approval, as well as receiving benefits without Board consent.

Represented by Advocate Taona Nyamakura and Innocent Chingarande, Muchenje and the executives - Tanyaradzwa Chingombe, Darlington Gutu, Spencer Manguwa, Paradzai Chakona, Tawanda Sibanda, Tinashe Severa, and Sharmaine Kadenhe - were found not guilty.

Expressing his relief, he stated, "I am grateful that justice has prevailed, and our innocence has been proven."

NetOne, Zimbabwe's first cellular network operator, launched in September 1996 and is owned by the government. In 2023, the company invested significantly in network infrastructure, with US$17 million and $12 billion dedicated to improving coverage.

According to Potraz, active internet and data subscriptions in Zimbabwe increased by 7.5% to 10.6 million in the third quarter of 2023.