The turn around strategy for the state owned telecommunications Company has taken longer than expected as no announcement has so far been made regarding its state of profitability.
Zamtel has for long been in a state of unprofitability, and concerns have been raised from concerned stakeholders over its lack of ability to bring dividends from its operations. Rumors of having the company sold, and privatized had surfaced sometime last year, but later dispelled by the permanent secretary for Science and Technology Dr. Brilliant Habeenzu who said a solution would be found together with the private sector through the Public Private Dialogue.
Dr. Habeenzu had mentioned to ZBT that Zamtel had continued to make losses, but assured that the ministry is working on changing the situation, noting that government has plans to making such entities profitable and sustainable.
It was also mentioned that Zamtel needs about $260 million for its recapitalization. It has been over a year since then, but the responsible minister Felix Mutati has told the public through ZBT that a roadmap for the telecoms company will provided next week.
The Minister of Science and Technology Felix Mutati has however promised to give a roadmap on the matter concerning Zamtel emanating from concerns of it being unprofitable or loss making.
In an exclusive interview with the Zambian Business Times –ZBT, Mutati noted that the operations and profitability of Zamtel is a concern that has always been present for a long time now. “What I can tell you is that get in touch with us next week, then we will give you a roadmap” said Mutati.
