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*James Makamba to sell Telecel shares*

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In emailed responses to NewsDay, James Makamba’s Empowerment Corporation Private Limited (EC) corporate adviser Tapiwa Shamu confirmed that they are in talks to sell their 40% stake in Telecel Zimbabwe.

He said that he would give more details when the negotiations reach a conclusion. Said Shamu:

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> I can confirm that EC is currently in discussions with potential purchasers. TZL is an attractive asset in a high-growth sector with a strong market position, so we have received a number of approaches as you would expect over time. The discussions are, as is customary in these types of transactions, covered by confidentiality clauses so I cannot provide any details at this stage. Should the negotiations reach a conclusion, whether in a transaction or not, I will be sure to brief the media promptly.

Last week, Information Communication Technology minister Supa Mandiwanzira disclosed that the government wants to buy the remaining 40% shares in Telecel Zimbabwe to make it a parastatal.

More: NewsDay

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