Telecel intends to double its subscriber base by Oct-end, roll-out 3G (Zimbabwe)
www.WirelessFederation.com/news: Telecel Zimbabwe, third largest operator in terms of subscribers, is reportedly planning to roughly double its base to 700,000 subscribers by the end of October 2009, and said it also intends to roll-out 3G services. Acting chairwoman Jane Mutasa said that Telecel Zimbabwe had 355,000 subscribers at end-July. According to a report, NetOne had less than 400,000 subscribers, where as the market leader Econet Wireless Zimbabwe was ahead with more than 1.25 million SIMs in operation.
POTRAZ to referee Telecel ownership spat(Zimbabwe)
Two individual shareholders of Zimbabwe’s smallest cellco Telecel, James Makamba and Jane Mutasa, have paid USD3.5 million to the firm’s majority holding vehicle Telecel International for a disputed 11% stake, reports AllAfrica.com. The Postal and Telecommunications Regulatory Authority (POTRAZ) had given Telecel International until 30 June to bring its shareholding structure in line with legislation prohibiting foreigners from owning in excess of 50% of any local communications firm, or risk losing its licence. Telecel International owns 60% of Telecel, while the other 40% is in the hands of Empowerment Corporation (EC), a local consortium, itself comprising Kestrel, owned by Mr Makamba (23%), IEG (18%), Indigenous Business Women’s Organisation (headed by Mrs Mutasa, 17%), National Miners’ Association (14%), Zimbabwe Farmers’ Union (14%) and Magamba eChimurenga (14%). EC has the right of refusal over the 11% stake in Telecel. In November last year it was reported that Leo Mugabe, President Robert Mugabe’s nephew, failed in a bid to acquire 11% of Telecel from Telecel International after being refused permission from EC.
