Share

Telecoms firms to help fund Zim poll

Harare - Zimbabwe will get more elections funds from telecommunications companies, a government minister said on Tuesday.

Finance Minister Tendai Biti said new licence renewal fees for mobile network providers will increase to US$180m from $100m currently.

Biti said the funds from the licensing will be used to finance the elections to be held this year.

Econet Wireless Zimbabwe and Orascom-owned Telecel are set to renew their licence in June.

The new licences will be issued under the converged licensing framework to allow providers to diversify their services.

Biti said the new licensing framework would also allow entry of new investors into the telecommunications industry.

The Zimbabwean government has been struggling to raise funds for elections and has turned to private companies and the general populace for funds.

Earlier this week the government issued 365-day Treasury Bills to National Social Security Authority and Old Mutual to raise $40m for the referendum.

The government has also directed the diamond companies Mbada, Anjin, Marange and Diamond Mining Corporation to pay up outstanding 2012 revenues to the fiscus.

Zimbabwe turned to the ordinary taxpayer by reviewing upwards the excise duty on diesel and petrol for March-December 2013 by 5c each.

This translates to an increase of 20% and 25% in excise duties on diesel and petrol.

 - Fin24
 
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.89
+0.2%
Rand - Pound
23.82
+0.3%
Rand - Euro
20.37
+0.3%
Rand - Aus dollar
12.31
+0.3%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders