Zimbabwe’s Powertel is refuting allegations raised about it being insolvent.
Techzim reports that questions about the company’s finances was raised after Zimbabwe’s Auditor General published a report on the viability of Powertel. The report indicated that Powertel experienced losses between 2012 and 2014.
Powertel has come out to refute the report by highlighting its growth and investments in its telecoms infrastructure, voice services, internet and prepaid electricity aggregation through the brand Powerplus.
Powertel is a state-owned Internet Access Provider and subsidiary of national power company, ZESA Holdings.
There are however no figures to prove the profitability of the venture or the revenue potential of its services. However the prepaid electricity aggregation platform seems to be its only lifeline.
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