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Massive Financial Scandal Rocks NetOne

In what appears to be a deeply troubling tale of financial mismanagement and corruption at one of Zimbabwe’s largest telecommunications companies, NetOne, shocking revelations have surfaced implicating senior executives in a series of questionable financial decisions that may have cost the company millions.

At the heart of these allegations are the Group CEO, Raphael Mushanawani, and the Chief Technical Officer, Christopher Muchechemera, who are accused of orchestrating and benefiting from a series of dubious procurement deals.

Also Read: https://www.263chat.com/unpacking-the-arrest-of-netone-ceo-and-the-broader-implications/

The story begins with the procurement of key telecommunications equipment that was supposed to benefit NetOne’s infrastructure. However, behind the scenes, things were far from ordinary.

In 2024, the company began exploring the idea of purchasing new microwave transmission equipment. The CTO, Muchechemera, reportedly invited a local company, Teleios (Pvt) Limited, to conduct trials and test the equipment. Everything seemed routine at first, until a strange twist occurred.

According to insiders, the GCEO, Mushanawani, approved a trip to Romania in early 2025, funded by Teleios, for senior staff to examine the technology. The trip’s purpose and outcomes were never discussed with the Executive Committee. When the team returned, a procurement requisition for the equipment was raised—yet it was directed to a junior employee, bypassing senior procurement officials. This raised red flags among staff who questioned the lack of transparency.

The requisition eventually led to a deal worth USD 17 million, which was later negotiated down to USD 15 million. However, this deal wasn’t part of NetOne’s annual procurement plan or budget. Further complicating matters, when other vendors offered to supply the same equipment for much lower prices—USD 8 million from Tauro Panther, and USD 9 million from Satewave—the urgency to complete the deal suddenly disappeared. The reasons behind the sudden change in direction remain unclear.

One senior staff member, the Head of Supply Chain, voiced serious concerns over the deal, suggesting that the equipment was overpriced and questioning why due process wasn’t followed. However, his objections were met with anger, threats of dismissal, and allegations that he was obstructing critical projects.

Another scandal revolves around the upgrade of NetOne’s ZTE VAS platforms, which are used to handle the company’s value-added services. In August 2025, the CTO raised a requisition to upgrade the platforms, citing the need to stay updated with the latest technology. Yet again, Teleios was brought into the fold, offering to provide the upgrade at a hefty cost of USD 11.7 million.

The Head of Supply Chain questioned the necessity of this upgrade, pointing out that the system had reached its end of life and could easily be replaced with a more competitive, cost-effective solution. The lack of proper planning and the absence of this upgrade in the company’s annual budget raised alarms. Despite these concerns, the project moved ahead with Teleios as the preferred vendor, further fueling suspicions about the nature of these procurement decisions.

As the investigation deepens, even more troubling practices have come to light.

In addition to the equipment scandals, there was the curious case of consultancy services during the implementation of the SAP ERP system. While NetOne had already paid for the necessary consultancy services through its contract with Farevic (Pvt) Limited, the GCEO pushed for additional consultancy for USD 79,467.49. This seemed like an unnecessary duplication of services, raising questions about whether the company’s resources were being squandered.

Further adding to the concerns, the GCEO allegedly bypassed the Executive Committee to engage Lunartech Solutions for the upgrade of NetOne’s SAGE ERP system. Despite no formal resolution from the committee, this direct engagement with Lunartech resulted in a series of costly addenda, which saw the total payments exceed USD 1.2 million—far beyond the original agreement. The lack of planning and the failure to follow proper procurement processes were clear violations of standard corporate governance practices.

The impact of these actions extends far beyond the numbers on paper. Staff at NetOne have reported a toxic working environment, where questioning these deals often leads to intimidation and retaliation. The division within the company has grown, with key staff members now caught between their duty to the organisation and their moral compass. The growing culture of fear and secrecy has left many employees disillusioned and concerned for their futures.

One senior staff member, who asked to remain anonymous, expressed how difficult it has become to trust the leadership. “It feels like there’s a wall between the executives and the rest of us. When things go wrong, it’s always the people at the bottom who have to take the fall.”

These allegations have raised more than a few eyebrows among Zimbabwe’s telecommunications regulators and industry observers. With such large sums of money at stake and with accusations of financial mismanagement mounting, there is a growing call for an independent investigation into the matter. The public, along with shareholders and employees, deserves to know the full extent of what has been happening behind closed doors at NetOne.

For now, it remains unclear whether any action will be taken. But with the stakes so high—both for NetOne and for the country’s telecommunications industry—pressure is mounting for transparency and accountability

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