News / National
'Chivayo, MIF wanted 50% stake in Starlink deal'
07 Sep 2024 at 15:16hrs | Views
Starlink reportedly declined a proposal for a 50% stake in its Zimbabwean operations from Wicknell Chivayo's Intratrek Zimbabwe (IMC) and the Mutapa Investment Fund (MIF) ahead of its launch in the country.
Starlink officially activated its service in Zimbabwe just before midnight on September 6, 2024, following its launch in Botswana earlier that day. Investigative journalist Hopewell Chin'ono, citing sources, posted on X that DHL, representing Starlink, along with officials from the Secret Service, the Ministry of Defence, and ZIMRA, met in Harare this week to discuss the service's launch.
During the meeting, authorities reportedly proposed that Chivayo's IMC, which President Emmerson Mnangagwa had named as Starlink's exclusive partner in Zimbabwe, be given a 40% stake in the local operations, while MIF would receive a 10% stake. However, Starlink allegedly rejected the offer, citing that the parties brought little to the table apart from political connections.
The Mutapa Investment Fund, formerly the Sovereign Wealth Fund of Zimbabwe, is a state-owned entity managing investments in 20 parastatal companies, including NetOne, Air Zimbabwe, and the National Railways of Zimbabwe.
Chin'ono said, "There was a meeting this week in Harare involving DHL, a law firm representing Starlink, the Secret Service, the defence ministry, and ZIMRA regarding Starlink, according to my sources at Starlink.
"Starlink was supposed to dispatch the first 1,500 test kits from America to Harare this week, but they were informed that POTRAZ needed to sign off first, which has now been done.
"POTRAZ will also inspect and verify the kits upon their arrival in Harare.
"Starlink resisted a proposal for a 50% stake, with Wicknell Chivayo's IMC receiving 40% and the controversial Mutapa Fund getting 10%.
"My Starlink source told me this morning that they rejected the deal because the other parties were not bringing anything to the table except political capital.
"The Starlink Africa and Middle East contact informed me that they will be shipping the first 1,500 test kits this coming week via DHL, and they should arrive in Harare within the week for pre-go-live regulatory local compliance activities by POTRAZ.
"My source told me that when units are imported via DHL, they are shipped under a global arrangement called Destination Duties Paid (DDP).
"SpaceX which runs Starlink pays the duty upfront to ensure a seamless customer experience, avoiding waiting times and delays for customers.
"So the Starlink website price includes customs duties according to my Starlink source.
Starlink officially activated its service in Zimbabwe just before midnight on September 6, 2024, following its launch in Botswana earlier that day. Investigative journalist Hopewell Chin'ono, citing sources, posted on X that DHL, representing Starlink, along with officials from the Secret Service, the Ministry of Defence, and ZIMRA, met in Harare this week to discuss the service's launch.
During the meeting, authorities reportedly proposed that Chivayo's IMC, which President Emmerson Mnangagwa had named as Starlink's exclusive partner in Zimbabwe, be given a 40% stake in the local operations, while MIF would receive a 10% stake. However, Starlink allegedly rejected the offer, citing that the parties brought little to the table apart from political connections.
The Mutapa Investment Fund, formerly the Sovereign Wealth Fund of Zimbabwe, is a state-owned entity managing investments in 20 parastatal companies, including NetOne, Air Zimbabwe, and the National Railways of Zimbabwe.
Chin'ono said, "There was a meeting this week in Harare involving DHL, a law firm representing Starlink, the Secret Service, the defence ministry, and ZIMRA regarding Starlink, according to my sources at Starlink.
"Starlink was supposed to dispatch the first 1,500 test kits from America to Harare this week, but they were informed that POTRAZ needed to sign off first, which has now been done.
"POTRAZ will also inspect and verify the kits upon their arrival in Harare.
"Starlink resisted a proposal for a 50% stake, with Wicknell Chivayo's IMC receiving 40% and the controversial Mutapa Fund getting 10%.
"My Starlink source told me this morning that they rejected the deal because the other parties were not bringing anything to the table except political capital.
"The Starlink Africa and Middle East contact informed me that they will be shipping the first 1,500 test kits this coming week via DHL, and they should arrive in Harare within the week for pre-go-live regulatory local compliance activities by POTRAZ.
"My source told me that when units are imported via DHL, they are shipped under a global arrangement called Destination Duties Paid (DDP).
"SpaceX which runs Starlink pays the duty upfront to ensure a seamless customer experience, avoiding waiting times and delays for customers.
"So the Starlink website price includes customs duties according to my Starlink source.
Source - pindula
