State-run mobile cellular firm, NetOne has appointed former Zimbabwe Cricket (ZC) chief Peter Chingoka as its interim chairman to replace the departing Alex Marufu who has stepped down to concentrate on his private business, the company announced yesterday.
This comes as NetOne has turned around its once flagging fortunes following a raft of management changes and cost cutting measures introduced by government this year as part of ridding the company of corporate malfeasance.
“NetOne wishes to announce that its chairman of the board, Alex Marufu has stepped down with immediate effect. Marufu has been Chairman for the last two-and-a-half years.
“In the last several months he has been operating from South Africa where he is employed by EOH Holdings. He has been travelling up and down in order to meet his board commitments at NetOne,” the company said in a statement accompanying changes to its board.
Veteran sports administrator and long serving ZC chairman, Chingoka has been appointed to head the board until a substantive appointment had been made, NetOne said. Chingoka spent nearly 22 years at the helm of the ZC before retiring in 2014.
NetOne has registered a significant turnaround following the changes to its management which saw government appointing seasoned industrialist Brian Mutandiro to head the company after the suspension and subsequent sacking of managing director Reward Kangai who was accused of presiding over rot at the State entity.
Kangai has disputed the findings of a forensic audit which blamed his management for the poor performance of the company.
According to the latest report by the telecommunications regulator — Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) — NetOne has significantly registered growth on its mobile money platform — One Wallet which in 2012 generated revenue of $1 194 despite the company investing more than $500 000.
The report also noted NetOne grew its subscriber base from 968 747registered in the second quarter of 2016 to 1 103 124 million — to close in on its nearest rival, Telecel. Daily News