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Powertel technically insolvent

by Staff reporter
28 Jul 2015 at 07:01hrs | Views

Powertel Communications (Private) Limited is technically insolvent according to a report by the Auditor-General, Mildred Chiri.

The report highlighted serious concerns at the company including its going concern status, and failure by management to update the company's procedure manual.

The company is facing serious working capital challenges and its liabilities have affected its equal capital position.

Source - dailynews