Harare, (New Ziana)- The joint business rescue practitioners appointed to manage the rehabilitation of Telecel Zimbabwe have invited investors to bid for a stake in the telecommunications firm, as they seek to exit the arrangement to revive the ailing company.
Telecel Zimbabwe resolved to place itself under voluntary corporate rescue last year.
The resolution was filed with the Master of the High Court and Registrar of Companies, a formal process under Section 122 of the Insolvency Act, aimed at reviving the struggling firm.
The corporate rescue mechanism provides a legal framework for a financially distressed company to undergo a supervised process designed to restore its financial health and operational viability.
In a notice on Wednesday, joint corporate rescue practitioners Kundai Tibugare and Bulisa Mbano of Grant Thornton said they are looking for investors for the business.
“Tenders are hereby invited from interested parties to invest in Telecel Zimbabwe. Parties interested in investing in Telecel Zimbabwe are required to register their interest with the Transaction Advisor at Grant Thornton Chartered Accountants, 135 Emmerson Mnangagwa Road, Highlands, Harare on or before 1500hrs on 28 April 2026, in the following manner: complete the registration forms upon payment of a non-refundable documentation fee and sign a non-disclosure agreement prior to receiving access to the data-room containing information about Telecel Zimbabwe’s operations and other relevant documentation,” they said.
They added : “This document is not a prospectus and does not constitute or form part of any solicitation or invitation or any offer to the public to purchase Telecel Zimbabwe or to subscribe to any ordinary shares or any other shares in Telecel Zimbabwe.”
Once one of the largest operators in Zimbabwe, Telecel has reduced in size to less than 2 percent of mobile subscribers.
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