Suspended NetOne Chief Executive Officer Mr Lazarus Muchenje has today bounced back to his 16th floor office, marking his first day after, 6 months of unpaid suspension.
He comes back at the helm of the mobile network after fighting through a protracted battle, which seems to have little or no hope, thanks to the interference of the newly enacted board, which still lives to fight another day, as the storm is calm but just not over yet.
When we reached out to him in the midst of the battles, the media shy executive lamented that NetOne had lost a transformation opportunity at the expense of personal difference.
With little to no hope of ever coming back, he poured his heart out, stating how passionate he was to see a state owned entity which was struggling, turning back its cogs towards sustainability and profitability, a challenging opportunity for him, he was willing to prove.
It seems the odds are now on his favour and he has been given the full mandate once again.
Muchenje however has a real huge task ahead of him. Turning around NetOne against well funded giants like Econet is no walk in the park, he is going to be put to task and allow his results to speak for him.
Mr. Lazarus Muchenje is famed for having brought back the limelight to NetOne in 2018, the year the loss-making enterprise declared its first ever profit..
Mr. Muchenje, a Chartered Account by profession who has previously held the titles, Group CEO at Intarget Group, Group CEO at FirstRand Bank Celpay International BV, Executives Head of Sales (Vodacom SA), Head of Wireless Application, Sales and Marketing Director (Vodacom DRC) and Founding Finance Director (Vodacom DRC) resumed work at NetOne on the 19th of February 2019, after a six-month suspension.
The business recorded a loss of $57.8 million for the year ended 31 December 2017, which was largely attributed to legacy issues that weighed down the companys performance.
In the year 2018, after assuming leadership of NetOne the enterprise began an aggressive approach to increase revenue, through a network expansion drive and cost containment measures. The actions resulted in NetOnes mobile financial arm, OneMoney increasing its active subscriber base, backed by increased network coverage throughout the country.
In line with NetOnes mission To transform lives and develop communities through communication solutions, the provider commissioned several base stations in previously marginalized areas and embarked on aggressive corporate social initiatives.