ZDA preparing tender for Zamtel equity partner selection

28 Aug 2009

The Zambia Development Agency (ZDA) has revealed that an equity partner for incumbent fixed line provider Zambia Telecommunications Company (Zamtel) will be selected through an open tender process, AllAfrica.com reports. In addition, the agency announced that the tender would be open to both local and foreign companies. Prior to the tender it is understood that the ZDA will undertake a study on how best to implement the process. The move comes following the government’s announcement last month that it had approved the sale of a 75% stake in the telco in a bid to save it from collapse; the remaining 25% will be retained by the state. It is expected that the successful winner of the tender will take its stake in Zamtel by January 2009, and it has been estimated that it will cost around USD200 million to capitalise the ailing operator.

Zambia, Zambia Telecommunications Company (Zamtel)