Mobile operator Telecel Zimbabwe can avoid a shutdown by the government if it sells a majority stake to a local empowerment group, reports Reuters.
The company last week saw its telecoms licence revoked and received notice that it must close operations…
Mobile operator Telecel Zimbabwe can avoid a shutdown by the government if it sells a majority stake to a local empowerment group, reports Reuters.
The company last week saw its telecoms licence revoked and received notice that it must close operations within 30 days.
Telecel has vowed to appeal the decision.
ICT minister Supa Mandiwanzira reportedly told a government committee that Telecel “still has a window to survive and operate. There is still room for Telecel Zimbabwe to follow the law and operate”.
The operator is accused of breaking its licence terms, under which foreign investors may own a maximum 40% of a local company. The operator is 60% owned by Russian telco Vimpelcom, with local investors holding the remainder.
South Africa’s MTN and Angola-based, Portugal Telecom-owned Unitel are reportedly interested in Vimpelcom’s stake in Telecel, but a deal has yet to be reached.
In other news, the government is seeking to replace the CEO, CFO and COO at state-owned telco NetOne in a bid to improve performace, reports local newspaper The Herald.
Representatives of Vimpelcom, the ICT ministry and telecoms regulator POTRAZ did not respond to requests for comment by press time.
