The Industrial Development Corporation(IDC) has initiated a campaign in which they are falsely projecting the performance of Zambia’s national network provider, as ‘very positive’, when the Company is literally on its knees and facing high probabilities of bankruptcy.
High placed sources within ZAMTEL describe the IDC’s attempt as a futile conspiracy by the PF Government to conceal the incompetence of the public Company, as they continue stealing huge amounts of money to fund the ruling party and it’s top officials.
The sources further revealed that the current CEO Sydney Mupeta is panick stricken after his friend, former Communications Minister Brian Mushimba was reshuffled to the Ministry of Education. Mupeta is also a close associate to the IDC CEO Mateyo Kaluba.
According to the source who spoke on condition of of anonymity, ZAMTEL is a cash cow of the PF, and in league with the ruling party, Kaluba must paint the ZAMTEL outlook as positive and viable when the apposite is the case. This in order to cover up the tracks so that they steal uninterrupted.
“ZAMTEL is currently struggling to pay its suppliers and staff gratuities since December 2018. How can that be described as a positive outlook?”, disclosed the source.
IDC has released a statement in which they commended ZAMTEL for crossing the three million subscriber base.
In the statement, IDC CEO lauded the Company for increasing to 175% from 2016 where the subscriber base was only 1, 244, 117.
“IDC Group CEO, Mr Mateyo Kaluba said the record increase in mobile subscribers to ZAMTEL network over the past two years had increased by over 175% from 1,244,117 in 2016 to 3,367,700 as at June 2019. This translated in a growth of market share from 10% in 2016 to current 19%. It is also the highest number of subscribers in the history of ZAMTEL and the highest market share attained by the Company in a very competitive sector”, read the statement signed by the Public Relations Manager Namakau Mukelabai.
But the sources disagree with the assertion and describe it as fake and desperate.
“This is absolutely false. ZAMTEL launched a new product called ‘Zampay’, which has failed to perform, even though the Company recently obtained a Chinese loan worth $ 300 million, which can’t be accounted for. Where is the money?”, asked the source.
The source further wondered how it was possible for Zamtel to be making more revenue when they had less subscribers than currently, when they have more.
” Its a lie that Zamtel has increased subscribers to 3 million. When Zamtel had 1.8 million subscribers they used to make revenue of K65 million a month. Now they are making K27 million a month so how possible is it that the revenue has dropped, when they have 1.3 million more subscribers. Zamtel must be challenged to give Zambians a list of their active agents in the last 90 days”, the source said.