State Owned Enterprise, NetOne Cellular has welcomed
back its Chief Executive Officer from suspension. Mr. Lazarus Muchenje who is
famed for having brought back the limelight to NetOne in 2018, the year the
loss-making enterprise declared its first profit, is back at the helm.
Mr. Muchenje, a Chartered Account by profession who
has previously held the titles, Group CEO at Intarget Group, Group CEO at FirstRand Bank Celpay
International BV, Executives Head of
Sales (Vodacom SA), Head of Wireless Application, Sales and Marketing Director
(Vodacom DRC) and Founding Finance Director (Vodacom DRC) resumed work at
NetOne on the 19th of February 2019, after a six-month suspension.
The business recorded a loss of $57.8
million for the year ended 31 December 2017, which was largely attributed to
legacy issues that weighed down the company’s performance.
In the year 2018, after assuming
leadership of NetOne the enterprise began an aggressive approach to increase
revenue, through a network expansion drive and cost containment measures. The
actions resulted in NetOne’s mobile financial arm, OneMoney increasing its
active subscriber base, backed by increased network coverage throughout the
country.
In line with NetOne’s mission “To transform lives and develop
communities through communication solutions”, the provider commissioned several
base stations in previously marginalized areas and embarked on aggressive
corporate social initiatives.
