James Makamba, chairman at Telecel. CC image courtesy of Zvazviri.
Telecel has revealed its shareholders’ agreement to comply with the indigenisation laws of Zimbabwe, following the country’s policy revisions.
Telecel has confirmed its stance of unity among shareholders with regards to complying with the Zimbabwean indigenisation laws.
However, the operator is not ready to announce the changes made to its shareholder structure, James Makamba, chairman at Telecel, revealed in a recent interview with The Herald.
Makamba said: “All Telecel shareholders agree that there is need to comply with the laws of the land and will do everything possible to meet the requirements.”
The country revised its indigenisation policy in April with the impact of shifting foreign-local shareholding percentages.
As the fastest growing operator since 2009, Makamba owes Telecel’s success to quality, affordable, customer-centric services.
In support of infrastructure sharing, the chairman said he does not oppose any value-adding services provided by operators.
“We will continue to revise our internal operations to cut on waste and manage our operating costs in order to maintain reasonably low tariffs for our subscribers,” he said.
Makamba also confirmed the breaking of ties with former chief executive officer (CEO) Francis Mawindi.
HumanIPO reported earlier this month on Mawindi’s case against Telecel, demanding a US$1 million compensation for his dismissal in April.
