MAKAMBA LOSES TELECEL AS ED’s SON IN LAW TAKES OVER
Businessman James Makamba relinquished his position as Telecel chairman to Gerald Mlotshwa, president ED’s son in law following the extraordinary general meeting of Telecel Zimbabwe.
New chairman Gerald Mlotshwa, president Mnangagwa’s son-in-law, said it was a relief to put “legacy issues” to bed.
“We will be meeting shortly with our co-shareholder, Telecel International, to map the way forward operationally, particularly in relation to recapitalisation of Telecel.” he said.
“There is, of course, the need to put to rest the outstanding licence fees. The capacity to finance these costs is there. However, the manner and means in which this will be achieved will be made public in due course.”
Makamba will receive $11-million for his Telecel Zimbabwe shares.
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