$120 million held in Zimbabwe’s Universal Service Fund

$120 million held in Zimbabwe’s Universal Service Fund
After an initial test on select post-paid subscribers, NetOne has introduced mobile broadband services for its pre-paid subscriber base too.
Published: 5 June 2018 - 11:26 a.m.
By: Evan Real

Contributions worth $120 million have been paid into Zimbabwe’s Universal Service Fund (USF) since 2009, The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has revealed.

TechZim has reported that interest on investments has pushed the total above $130 million. POTRAZ says that while the USF was first established in 1998, contributions made prior to the switch to a multi-currency system in 2009 are now virtually worthless.

All telcos are required to pay 1.5% of their annual gross revenues into the fund, which is then used to fund projects such as telemedicine, e-learning schemes and the construction of Community Information Centres (CICs), which offer ICT services to the local population. 80 CICs have been built so far, with more in the pipeline.

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