Business Reporter
THE Mutapa Investment Fund (MIF) latest report has endorsed TelOne as a top performer in the just ended reporting period.
The MIF was initially established under the Sovereign Wealth Fund Act (Chapter 22:20) and renamed the Mutapa Investment Fund through Statutory Instrument 156 of 2023.
In a 2024 Annual Report published this week, MIF hailed progress made by the country’s s only licensed Unified Telecommunications services provider, TelOne.
“TelOne maintained its position as the national fixed broadband provider, operating the country’s largest fiber backbone and playing a pivotal role in ICT infrastructure delivery. During the year, the company concentrated on expanding FTTH (fibre to the home) access and enhancing service quality through targeted network upgrades,” said the MIF report.
The wealth creation institution said while challenges persisted—particularly around legacy debt and infrastructure vandalism—TelOne remained a critical enabler of digital services across both the public and private sectors.
“The company’s public Wi-Fi zones and enterprise connectivity products supported government digitization efforts, educational access, and private sector productivity,” the report added.
Overall, the MIF said in telecommunications, strategic repositioning will remain key with appropriate policy support, restructuring of legacy liabilities, and consistent investment into both core and access networks.
“The Fund believes its telecoms portfolio is well positioned to deliver enhanced value and more inclusive service delivery. The investment pipeline for the telecommunications subcluster includes a backbone infrastructure upgrade programme, alongside the installation of new base stations to improve rural and peri-urban coverage, address congestion in highdensity areas, and support future 5G readiness,” the report added.
