New battle erupts over Telecel

Sources said a new battle has erupted between Zarnet and NSSA which now wants to take over Telecel instead of being merely the financier.

NSSA initially rejected the proposal saying it was unwilling to fund such a deal, but in October last year its finance, investment and procurement board committee reviewed the offer after a due diligence on legal and tax matters.

NSSA board chairperson Robin Vela confirmed this week that the social security agency would unlock value by taking over Telecel.