Officially, it is now a year since the government has announced that it has interests over Telecel Stake and many media houses, us included have ran multiple stories about the deal, while strangely on ground the story has been different.
For Telecel Zimbabwe, this has been the most challenging season ever, where by the telecoms company has to learn and adjust to serving two separate shareholders with different ideologies and striking a balance between the two without violating stake holders with obvious different expectations and modus operandi.
Telecel Zimbabwe management team deserves all the credit from the most ignorant sectors for the success of running such a company in these most volatile conditions yet the centre is not breaking down.
Government the esteemed new shareholder has been pressing Telecel Zimbabwe management to safeguard their interest while the Russians who had initially said the deal is done have all but come back to Zimbabwe to look over their asset
They have already indicated that they are yet to receive their $40million balance which the ministry of ICT has confirmed to have paid.
By Toneo T Rutsito
MondayBlues can effectively confirm that the ministry of ICT got funding from NSSA, and they effectively credited the Barclays Zimbabwe account for Vimplecom lawyers, meaning technically the government does not owe the Russians anything , so what is the real problem?
Latest shocking revelations have proved that the money which Zimbabwe is using to settle any local payment is infact not real money, but “fake” digital US dollars printed by the RBZ which can not pay for any thing outside Zimbabwe.
The minister of ICT Postal and Courier services Hon Supa few months made a statement to the Herald that they are waiting for the Barclays bank of Zimbabwe to settle the Nostro Account for the international Vimplecom bank account, a move which raised eyebrows.
If our local currency was purely USD dollars, the Nostro account could have been settled immediately, but the fact is that our national Nosto account is now empty, with only 6% deposits in circulation, and Banks can no longer support the deficiency which the RBZ will have to deal with.
The Situation has become so dire to an extent that the RBZ has failed to deal with the Telecel-Gvt deal financing, exposing the government because technically, the government is now broke and cannot fund the transactions, hence frustrating the Telecel deal.
The minister of ICT has been quoted by some local paper saying that the government will have concluded the deal hopefully by next month, as the RBZ is frantically trying to fund the depleted national fiscus.
The introduction of bond Notes in this case should not come as a shock, neither should it be resisted because technically, our bank accounts have nothing but bond notes balances which simply needs physical bond notes to support them.