NSSA wants Telecel exit in three years

26 Jan 2017

Zimbabwe’s National Social Security Authority (NSSA), which part-funded the government’s buyout of a 60% stake in the country’s third mobile operator Telecel, says it is looking to recoup its USD30 million outlay over a three-year period. The NSSA has requested that state-owned ISP Zarnet pay back the USD30 million and take over the interest in Telecel on behalf of the government. When it first emerged in November 2015 that the state was looking to buy VimpelCom’s stake in Telecel, Zarnet was put forward as the vehicle for the transaction. While the cash-strapped ISP did come up with a quarter of the USD40 million asking price, the NSSA was drafted in to pay the remainder.

Zimbabwe, Telecel Zimbabwe