Earlier today we exclusively revealed the the Telecel Zimbabwe license renewal talks had been finalised. We just got the official statement from Zimbabwe’s telecoms regulatory body, POTRAZ, and it confirms this development.
Noteworthy in the statement is that the indigenisation issue seems to not have been finalised yet as POTRAZ just says they “took note of the commitment made by Telecel” to regularise shareholding. We are therefore certain that the license renewal was spurred more by Econet’s move to stop interconnecting with an unlicensed operator. As well as, ofcourse, now that Zimbabwe’s political future is decided.
There’s no mention yet just how much Telecel has paid of the $137.5 Million 20 year license.
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The full POTRAZ statement follows below:
Having noted the conclusion of negotiations between the Government of Zimbabwe and Telecel Zimbabwe (Private) Limited regarding the renewal of Telecel Zimbabwe ‘Private’ Limited’s National Mobile telecommunication licence, the Authority hereby advises members of the public that Telecel Zimbabwe (Private) Limited’s Mobile telecommunication licence has been renewed.
In reaching this decision, the Authority, in particular, took note of the commitment made by Telecel Zimbabwe (Private) Limited to comply with the requirement to have a local majority shareholding, in line with section 36 of the Postal and Telecommunications Act, the Indigenisation Act and the Telecel Shareholding Agreement.