Its All Fake News Says Makamba

TELECEL Zimbabwe board Chair, Dr James Makamba has rubbished stories making rounds on social media about him attacking Information Communication Technology (ICT) Minister Supa Mandiwanzira for allegedly appointing his high school buddies to top positions in the ICT sector.

Early Monday morning, social media news platforms were awash with news that all was not well between the two as a result of the Telecel stake which Makamba is refusing to sell to government as well as the appointment of executives to boards for Telecel, POTRAZ and  NetOne which was described as factional.

Speaking to TechnoMag, Dr Makamba said the stories were nothing more than “Fake News!

In 2017, while he was still in exile, Dr Makamba hinted on intentions by the Empowerment Corporation Private Limited (EC) to dispose its 40% stake in Telecel Zimbabwe Limited (TZL).

ICT minister Mandiwanzira however is on record saying government was angling to snap up the remaining 40% shares in Telecel Zimbabwe to turn the telecommunications company into a wholly State-owned entity. Makamba, together with women empowerment lobbyist Jane Mutasa owned the majority shareholding in the EC and held shares through Kestrel Corporation.

At inception, the shareholding structure at Telecel Zimbabwe stood at Zimbabwe Farmers’ Union (9%), Affirmative Action Group (9%), Zimbabwe National Liberation War Veterans’ Association (9%), Indigenous Business Women’s Organisation (9%), National Miners’ Association( 9%), Integrated Engineering Group (10%), Kestrel Corporation (15%) and Warehouse (30%).

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