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
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