Telecel Plotting Makamba Ouster

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Telecel Zimbabwe, is going through another serious boardroom squabble, and this time targeting their own managing director and chairman, Dr James Makamba, the man who has been at its helm  since inception after one of the company’s shareholders filed a High Court application seeking fresh leadership election.

As part of their pact to indigenise the foreign owned companies, Telecel international partenered with Empowerment Corporation (EC) a consortium of local companies to form telecel Zimbabwe. The EC now owns a 40% stake of the company

By Toneeo Tonderai Rutsito

Zimbabwe National Miners Association, (ZNMA), Indigenous Business Women’s Organisation (IBWO) and Kestrel Corporation constituted the Empowerment Corporation in 1998, and (ZNMA) of the three companies that formed the EC has filed a high court application seeking the ouster of James makamba as Chairman of the company.


Representing the Empowerment Corporation Dr Makamba with  (Kestrel), the embattled Dr Jane Mutasa (IBWO) and Mr Giles Munyoro (ZNMA) were appointed directors of Empowerment Corporation, which he subsequently elected Dr Makamba to be both the Chairperson and Chairman of the company.
According to the herald, In the summons filed at the High Court recently, ZNMA wants an order compelling the Empowerment Corporation to convene an urgent extra-ordinary meeting to choose a new chairman to replace Dr Makamba.

ZNMA also wants an order compelling Telecel Zimbabwe to disclose and pay the dividends due to it within 48 hours of the granting of the court order.
Harare lawyer Mr Advent Tavenhave of Tavenhave and Machingauta law firm is representing ZNMA.
Responding to the application, Dr Makamba deposed an affidavit emphasising that he was still the managing director and chairman of Telecel Zimbabwe.
He indicated that he was also the director of Kestrel, which was a major shareholder in the Empowerment Corporation.

Dr Makamba dismissed as false, allegations that he was running the Empowerment Corporation single-handedly.
He dismissed allegations that he was a fugitive from justice.

The case is yet to be set down for hearing at the High Court.

 

 

 

 

Nicole Madziwa

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