Makamba exits Telecel

Makamba exits Telecel
Published: 04 August 2017 (1001 Views)
Self-exiled businessman James Makamba has sold his stake in Empowerment Corporation, a 40 percent shareholder in Telecel Zimbabwe to a local consortium for an undisclosed amount.

However, with ink barely dry on the deal, the Government is understood to have made a massive $26 million offer to buy out the local consortium owned businessman George Manyere and prominent lawyer Gerald Mlotshwa.

Sources familiar with the development said that the agreements related to the disposal of Makamba's shareholders were recently signed.

- Business Weekly

Tags: Makamba, Telecel, Exile,
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