Telecel to stagger payment of licence fee

Telecel Zimbabwe has denied reports that it has failed to make a payment to renew its mobile operating licence, blaming the reports on confusion on how the concession is to be renewed.

The company confirmed that it is obliged to make a payment of US$137.5 million to renew its licence for another 20 years. However, it also negotiated a deal to spread the payments over a number of years.

The company has made a down payment of US$14 million, and says that it has bank records to show that the funds were received at the regulator.

The next payment is due December 2014.

Telecel has over 2.5 million subscribers.