We contacted Masawara, the only other owners of 15.5% in iWayAfrica Zimbabwe we know, and they told us they had not sold to Gondwana along with Telkom SA. “The Telkom SA / Gondwana Communications transaction has had no effect on Masawara’s shareholding in iWayAfrica Zimbabwe,” said a representative of the company to us this week.
Though loss making so far, this may be a sign Masawara believes Gondwana may turn the company around. And besides, iWayZim isn’t seriously underperforming – the Masawara component of the loss for the year ending Dec 2012 was just $8k.