Zim govt to engage Telecel shareholders in Netherlands

Government says foreign investors should follow the rules of the country if they want to invest in Zimbabwe and the Information Communication Technology, Postal and Courier Services Minister Supa Mandiwanzira will be travelling to Netherlands to discuss with the Telecel shareholders over Telecel Zimbabwe's licence issue.

Mandiwanzira said there is need to maintain a balance between the need to attract investment into the country and the need to follow the rule of law in the country.

Speaking to ZiFM, Supa Mandiwanzira, said after meeting Dutch Ambassador to Zimbabwe, Gera Sneller, that he will be travelling to Netherlands to discuss the issue with the Telecel shareholders.
 
"I am glad to say that we are having a positive engagement and once that engagement is complete we will be able to share with the majority of our population," he said.

The Dutch Ambassador to Zimbabwe, Gera Sneller, also confirmed in an interview with ZiFM that Mandiwanzira is scheduled to go meet with Telecel shareholders in Netherlands as the largest shareholder is headquartered in the Dutchland.
 
Telecel's largest shareholder Vimplecom, with a stake of 60% is headquartered in Amsterdam, Netherlands.
 
Telecel was last month given 30 days to wind up operations after failing to comply with licence and indigenisation requirements.
 
However, Telecel has since challenged the order through High Court which granted the mobile network company an interdict against the 30 day special licence on the basis that the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) had acted in an overzealous manner.