MOBILE telephone network operator Telecel Zimbabwe has vowed never to close shop despite escalating wars on the sale of the Empowerment Corporation (Pvt) Ltd’s shareholding in Telecel to Brainworks for about $20 million.
MTHANDAZO NYONI OWN CORRESPONDENT
Empowerment Corporation (EC) last month issued a notice indicating it wanted to hold an extraordinary general meeting to consider, if deemed fit, ratifying the sale of the EC’s shareholding in Telecel to Brainworks.
However, the meeting was cancelled by the High Court following an urgent application by key shareholder Jane Mutasa.
Mutasa, her investment vehicle Selphon, the Indigenous Business Women’s Organisation and Magamba Echimurenga feared that if the meeting proceeded, they would suffer serious prejudice.
Other listed respondents are President Robert Mugabe’s nephew Patrick Zhuwawo, Carlton Consultants, which acts as EC secretary, James Makamba, a shareholder in EC and Brainworks.
There were some fears that the company’s licence would be revoked and transfered to an operator that was ready to pay for it.
Telecel yesterday started engaging its subscribers by sending an SMS dispelling fears that the company faced closure.
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The SMS read: “Dear customer. Telecel has attracted a lot of press coverage lately. Please be assured that we will continue to be of service and are working on ways to improve.”
The shareholding squabbles have afflicted Telecel for years and have been the major cause the company finds itself without a licence .
Telecel is the third largest mobile operator in Zimbabwe after Econet and NetOne.
According to the latest statistics from the Postal and Telecommunications Regulatory Authority of Zimbabwe, State-owned NetOne’s active subscribers surpassed Telecel’s to become the country’s second largest mobile network operator.
