The largest shareholder with Telecel Zimbabwe`s local consortium, Economic Council EC, James Makamba of Kestrel investments and the second largest shareholder Jane Mtasa of indigenious Business Woman organisation IBWO have buried the hatchet.
Previously the two local shareholders who are reported to own the largest chunk of the 40% , of EC had crossed paths too any times scuttling the initial deal offered by Brainworks to buy out Telecel Zimbabwe`s local shares, exchanging blows against Jane Mtasa.
By Toneo Tonderai Rutsito
James Makamba had authorised the offer and called for urgent EGM to discuss the matter, a move which Jane Mtasa fought , forcing the meeting to be abandoned as she alleged that matters were not being undertaken above board.
Insider sources close to the matter tipped #MondyBlues last month that the two directors have taken a bold move to bury their differences and are now working towards the best for the company a promise which James Makamba announced and now honoring.
Their recent board meeting is the best testimony to prove when they and other minority members unanimously agreed to elect the General manager of Telecel Zimbabwe, Mrs Angeline Vere to the CEO`s post.
Sources close to the matter also suggested that the two are energetically working together towards seeing the brighter future of Telecel Zimbabwe dawning, whether orange or any other colour suggested by the next investor, #MondayBlues learnt.
The board members are alleged to have had already agreed a way forward which initially had seen business tycoon , Dos Santos offering to buy out the 40%, but the deal then completely collapsed allowing them to look for another potential buyer.
The government of Zimbabwe is also said to be amongst those bidding for stake, the only reason why Supa mandiwanzira the ICT minister may have announced that the future is bright, without divulging any further details .
The Telecel Zimbabwe team is ready to sell out their 40% , the same time their international investor Vimplecom is already scouting for a potential buyer of the 60%.
Sources close to the matter however further revealed that the noise about the government pressing for Telecel Zimbabwe to regularise their shareholding so that the locals have higher shareholding is now nothing but water under bridge.
James and Jane are now only going to fix the problem by adding 11% to their 40% meaning they will soon emerge with 51%, a move which they are already regularising as this stake was already bought years ago divulged the source.
According to the last EGM they held, the stak is being shared as Affirmative Action Group (AAG), Indigenous Business Women Organisation (IBWO), Zimbabwe Farmers Union (ZFU), National Miners’ Association, Zimbabwe Liberation War Veterans Association (ZLWVNA) will revert to original shareholding structure of 12.86 percent, 14 percent for Integrated Engineering Group and 21 percent respectively.
If you ask me, the future is now really bright for Telecel Zimbabwe, we are now waiting for the big news on the potential buyer which will bring a new lease of life the once second biggest mobile network operator in Zimbabwe.
The growth of Telecel Zimbabwe had been stifled by lots of internal politicking, board room squabbles coupled with management differences, but once the fish has been cured from the head, its enough evidence that Telecel Zimbabwe is now set to fly higher.
The search for another buyer is still on with interesting bidders already submitting their proposals and the outcome is likely going to make Telecel Zimbabwe the strongest mobile network operator, according to evidence gleaned by #MondayBlues.
So yes like the minister said, the future is bright, don’t mind the bright colour, and certainly Telecel Zimbabwe is now back on track, before winter ends, a big deal is most likely going to be signed.