By ETimes
HARARE -TELECEL Zimbabwe (Private) Limited has been placed under corporate rescue after its board resolved to initiate voluntary proceedings aimed at rehabilitating the struggling mobile network operator.
The company’s board of directors passed a resolution on October 22, 2025, “to place the Company under voluntary corporate rescue in terms of section 122 of the Insolvency Act [Chapter 6:07],” according to a notice published by the company.
The resolution “was duly filed with the Master of the High Court and the Registrar of Companies and took effect on the 27th of October 2025,” the company said in a notice.
Telecel, one of Zimbabwe’s three mobile operators, said the move “is designed to rehabilitate the company and does not signify an intention to liquidate.”
“All stakeholders, including but not limited to employees, customers, suppliers, creditors and shareholders, are hereby informed of this development.”
Under Section 126 of the Act, a “general moratorium on all legal proceedings against the company, or in relation to any property belonging to the company, is now in effect, unless otherwise provided by the Act,” Telecel stated.
The company said further communication “will be issued as required by law and as necessary to keep all affected persons informed.”
“Telecel Zimbabwe (Private) Limited extends its gratitude to all stakeholders for their understanding and continued support during this transitional phase,” reads the notice.
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