Zimbabwe: Moxon Rejects Econet-Led Demerger Proposal

KINGDOM Meikles African Ltd (KMAL) chairman John Moxon and his family have rejected Econet Wireless' proposal to cancel the merger between Meikles Africa Ltd (MAL), Kingdom Financial Holdings Ltd (KFHL) and Tanganda.

Econet which is the single largest institutional investor in KMAL with 11% said the reversal of the deal between Kingdom, Meikles Africa and Tanganda was the only way to end the dispute between KMAL CEO Nigel Chanakira and Moxon.

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