Former NetOne chief executive officer (CEO) Mr Lazarus Muchenje and seven executives have been acquitted after the Supreme Court found them not guilty on charges of abuse of office.
Mr Muchenje had been accused of abuse of duty as a public officer for allegedly concluding three commercial agreements with Bankai International Private Limited of Mauritius and Bridgevoice Inc of the United States for value-added services, without the approval of the Board and the parent ministry. NetOne is wholly owned by the Government.
It is among the entities that have been placed under Mutapa Investment Fund.
Mr Muchenje was also said to have received benefits, including hiring security guards, purchasing furniture, renting luxury vehicles and approving an undervalued lease agreement without Board approval.
He was represented by Advocate Taona Nyamakura, instructed by Innocent Chingarande of Chasi Maguwudze.
The others acquitted were, Tanyaradzwa Chingombe, Darlington Gutu, Spencer Manguwa, Paradzai Chakona, Tawanda Sibanda, Tinashe Severa and Sharmaine Kadenhe.
Mr Muchenje led the turnaround of NetOne from a loss-making company to a profitable company during his tenure.
In an interview, he said: "I am grateful that justice has prevailed, and our innocence has been proven and we can now go on with our lives with our integrity and dignity restored."
NetOne, a State-owned telecoms company, was the first cellular network operator in Zimbabwe based on the Global System for Mobile Communications.
The company was originally launched during the World Solar Summit in September 1996 in the capital Harare with 500 lines.
In 2023, NetOne invested US$17 million and $12 billion in capital programmes, to optimise network coverage, particularly internet and data services going into 2024.
According to Zimbabwe's telecoms sector report from the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz), the number of active internet and data subscriptions increased by 7,5 percent to 10,6 million in the third quarter of 2023 from 9,9 million in the second quarter.
