James Makamba to sell Telecel shares

In emailed responses to NewsDay, James Makamba’s Empowerment Corporation Private Limited (EC) corporate adviser Tapiwa Shamu confirmed that they are in talks to sell their 40% stake in Telecel Zimbabwe.

He said that he would give more details when the negotiations reach a conclusion. Said Shamu:

I can confirm that EC is currently in discussions with potential purchasers. TZL is an attractive asset in a high-growth sector with a strong market position, so we have received a number of approaches as you would expect over time. The discussions are, as is customary in these types of transactions, covered by confidentiality clauses so I cannot provide any details at this stage. Should the negotiations reach a conclusion, whether in a transaction or not, I will be sure to brief the media promptly.

Last week, Information Communication Technology minister Supa Mandiwanzira disclosed that the government wants to buy the remaining 40% shares in Telecel Zimbabwe to make it a parastatal.

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