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News / NationalTelecel Zimbabwe enters voluntary corporate rescueby Staff reporter5 hrs ago |85ViewsTelecel Zimbabwe, the country’s smallest mobile telecommunications operator, has placed itself under voluntary corporate rescue effective 27 October 2025, in a move aimed at stabilising and reviving its operations.In a statement, the company’s board confirmed that the resolution had been filed with the Master of the High Court and the Registrar of Companies, in line with Section 122 of the Insolvency Act.The process allows a financially distressed company to come under the supervision of a corporate rescue practitioner, who works to restructure debts, restore viability, and protect the business from liquidation while turnaround efforts are implemented.According to the Act, a board may initiate such proceedings if it has reasonable grounds to believe that the company is financially distressed but capable of recovery.”The corporate rescue process is designed to rehabilitate the company and does not signify any intention to liquidate,” Telecel said in its statement.Telecel has in recent years struggled with declining market share, limited investment, and network reliability challenges, falling far behind rivals Econet Wireless and NetOne in both subscriber numbers and coverage.The company expressed confidence that the supervised rescue process would help it restructure its finances, attract investment, and modernise its network, ensuring continued service to its customers and the preservation of jobs.Source – SundayMailMore on:#Telecel,#Rescue,#CorporateJoin the discussionLoading comments…Enable JavaScript to view comments.Live UpdatesGet the Daily DigestSubscribeSubscribe to the Daily DigestMust ReadTeen girl raped twice by cousin during babysitting sleepover3 hrs ago |92 ViewsTeen remanded over blanket, shoe theft4 hrs ago |45 ViewsBulawayo hits Starlink capacity5 hrs ago |148 ViewsHerdsman jailed for sleeping with schoolgirl5 hrs ago |144 ViewsMandaza was left visibly shaken as Biti, Sikhala, Ngarivhume fled5 hrs ago |309 ViewsZimbabwe warns foreign investors against labour law violations5 hrs ago |73 ViewsCourt dismisses Zinasu students’ appeal5 hrs ago |61 ViewsMPs Demand Relief for Elderly on Local Authority Charges Amid Lack of National Policy8 hrs ago |129 ViewsWrong decision to suspend ZETDC boss, a symptom of shallow thinking8 hrs ago |373 ViewsMPs Push for Service Charge Relief for Elderly Amid Lack of National Policy9 hrs ago |106 ViewsZETDC MD fired after SONA power outage18 hrs ago |3290 ViewsMliswa likens Tagwirei to Chamisa19 hrs ago |2024 ViewsHarare adopts a ‘Pay first, drink later’ strategy19 hrs ago |813 ViewsPolice foil launch of movement against Mnangagwa term extension19 hrs ago |836 ViewsParliament apologises to Mnangagwa19 hrs ago |666 ViewsMnangagwa the merchant of darkness19 hrs ago |1053 ViewsZimRights condemns arson attack on SAPES Trust19 hrs ago |217 ViewsMnangagwa praise singers lie for a living19 hrs ago |438 ViewsMPs slam peak-hour roadblocks, demand reform on spot fines20 hrs ago |819 ViewsPublic hospitals under fire for medication gaps20 hrs ago |283 ViewsMinister Mhona: No tollgate money?
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