TELECEL ZIMBABWE’S DO-OR-DIE MEETING: Can the telco giant bounce back?

Telecel Zimbabwe is holding a make-or-break meeting with creditors and members on April 15, 2026, as it struggles to navigate corporate rescue. The company, Zimbabwe’s third-largest mobile network operator, entered voluntary corporate rescue in October 2025 due to crippling debt and dwindling market share.

Bulisa Mbano of Grant Thornton, the Corporate Rescue Practitioner, has summoned creditors and members to the Zimbabwe Agricultural Showgrounds to discuss the way forward. To participate, creditors must submit proof of claims by April 10, 2026.

The meeting is crucial, and stakeholders are watching closely to see if Telecel can turn things around.

John Tanyanyiwa

Business

Old Mutual Posts Strong First-Half Growth, Raises Dividend and Launches R1 Billion Buyback

Old Mutual Limited delivered a solid set of unaudited interim results for the six months ended 30 June 2026, supported by stronger sales, improved margins, disciplined cost management and good progress on its strategic reset. The Group reported 21% growth in both Life Annualised Premium Equivalent sales and gross flows, reflecting improved competitiveness across South […]

Read More
Business

WestProp Shareholders Approve Restructuring Plan and Minority Exit Offer

WestProp Holdings Limited shareholders have approved a comprehensive scheme of reconstruction that will split the company’s assets and offer eligible minority shareholders in Alpha Holdings Africa an exit at a significant premium. The resolutions were passed at an Extraordinary General Meeting held on Tuesday, 1 September 2026. Shareholders representing 76.18% of the register attended in […]

Read More
Business

Revitus REIT Delivers Strong 2025 Growth on Higher Income and Asset Upgrades

Revitus Property Opportunities Real Estate Investment Trust closed 2025 with a marked improvement in financial performance, supported by stronger rental income, investment gains, and ongoing upgrades across key properties. For the year ended 31 December 2025, the REIT posted a profit of US$4.6 million, a sharp increase from the prior year. The result was driven […]

Read More