17 May 2017

Zimbabwe: Mandiwanzira Says Government Injected $5m Into Telecel

ICT Minister Supa Mandiwanzira announced Wednesday that the government invested $5 million into Telecel Zimbabwe in January this year.

He made the announcement at a cocktail organised to assure the market that the mobile operator is strong and has a solid future after its acquisition by government

The minister, "I wish to assure you that Telecel's continuity is assured. As soon as the Government finalized the purchase of the 60% stake in Telecel, in January 2017, it made an immediate capital injection of USD 5 million into the operation."

He added, "Government has plans to ultimately buy 100% of the Telecel business. Efforts to sanitize the 'shareholder wars' and eventually make the business private through listing or selling, et cetera continue."

"I wish to assure you that Telecel's continuity is assured. As soon as the Government finalized the purchase of the 60% stake in Telecel, in January 2017, it made an immediate capital injection of USD 5 million into the operation.

"Government has plans to ultimately buy 100% of the Telecel business. Efforts to sanitize the 'shareholder wars' and eventually make the business private through listing or selling, et cetera continue," said Mandiwanzira.

Zimbabwe

Mandatory 60-Year Jail Term for Raping Minors

Government's proposed 60-year imprisonment for those found guilty of raping minors and the disabled is a welcome move… Read more »

Copyright © 2017 New Zimbabwe. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 900 reports a day from more than 150 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.