HARARE – Africa's leading mobile operator MTN has agreed to buy some of the assets of Egypt’s London Stock Exchange (LSE) listed telecommunications giant, Orascom, which include Telecel Zimbabwe and Burundi, a senior government official has said.
The possible inking of the agreement resulted in the LSE on Friday suspending Orascom Telecom Holding SAE's (ORSTF) shares from trading, pending the conclusion of the deal.
If successfully concluded MTN’s purchase of Orascom’s Zimbabwe assets will become the first major deal in the country involving foreign interests since announcement last February of controversial regulations to force foreign-owned firms to cede majority stake to local blacks.
The indigenisation regulations give foreign-owned firms up to May 15 to submit proposals on how they intended to offload 51 percent stake to indigenous Zimbabweans by March 2015.
Speaking on condition that his name was not published, a senior official from the Post and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ), said at the weekend MTN would comply with the country’s indigenisation law.
"MTN will retain 49 percent in Zimbabwe, once the payment goes through to comply with POTRAZ," said the source, adding; "Under the deal, MTN has agreed to buy some of Orascom's operations in Zimbabwe and Burundi.
“The actual value of the deal could be as high as $10 billion if it goes through. This will also be good news to Zimbabwe given the problems that have been caused by the indigenisation and empowerment law."
MTN could not be reached for comment at the weekend.
Through its subsidiary Telecel Globe, OTH also operates in the Central African Republic, Namibia and Zimbabwe. Orascom Telecom had over 88 million subscribers as of September 2009.
MTN has vast business interests spanning across the continent and the Middle East.
Indigenisation Minister Saviour Kasukuwere has said the empowerment programme will first target the mining sector where some of the world’s biggest international corporations hold multi-million dollar investments.
According to Kasukuwere to date 400 firms have submitted empowerment proposals to his ministry.
The economic empowerment scheme has split the Harare coalition government with President Robert Mugabe and his ZANU PF party backing the plan.
But Prime Minister Morgan Tsvangirai and his MDC party want the indigenisation programme stopped to allow for more consultation and drafting of new regulations that will not scare away foreign investors, while allowing for economic empowerment of the majority.
Large multinational corporations such as cigarette manufacturer BAT Zimbabwe, which is 80 percent British-owned, UK-controlled financial institutions Barclays Bank and Standard Chartered Bank, food group Nestlé Zimbabwe, mining giants Rio Tinto and Zimplats, and AON Insurance are some of the big foreign-owned firms that will be forced to cede control to locals.
– ZimOnline
Tuesday, April 27, 2010
Friday, April 16, 2010
Zimbabwe's Daily News back on streets 'in weeks'
JETHRO Goko, the director of the Associated Newspaper of Zimbabwe (ANZ), publishers of the Daily News, has said they are hopeful that in the next few weeks there won’t be any excuse for not opening up the print media space completely in Zimbabwe, reports Violet Gonda for SW Radio Africa.
Goko told SW Radio Africa on Tuesday: “Lot’s of work is currently going on behind the scenes and we are ready to bring the print product onto the streets in Zimbabwe. What we are waiting for is just the licence disk to be displayed on our windscreen.”
The country’s only privately owned daily newspaper was forced to shut down seven years ago. The Daily News is now hoping for an operating licence from the new licensing authority - the Zimbabwe Media Commission.
Goko said a new look Daily News will have heavy weights on the team and at least 78 staff members, including journalists on the payroll.
Last month, the masthead of The Zimbabwe Times website, edited by veteran journalist Geoff Nyarota, was replaced by that of the Daily News. A statement on the site said; “Finishing touches are currently being put to a brand new and exciting The Daily News domain. It has been created in anticipation of the much anticipated relaxation of the current media landscape, which is a key and necessary precursor to any meaningful democratic transition in Zimbabwe.”
The government is being criticized for delaying the implementation of media reforms as the inclusive government has been in ‘operation’ for over a year and yet there is still no privately owned daily newspaper registered in Zimbabwe and no licenses have been issued for the independent electronic media.
The newly appointed ZMC only started operating in March 2010, after a delay of over a year in appointing the Commission.
Goko told SW Radio Africa on Tuesday: “Lot’s of work is currently going on behind the scenes and we are ready to bring the print product onto the streets in Zimbabwe. What we are waiting for is just the licence disk to be displayed on our windscreen.”
The country’s only privately owned daily newspaper was forced to shut down seven years ago. The Daily News is now hoping for an operating licence from the new licensing authority - the Zimbabwe Media Commission.
Goko said a new look Daily News will have heavy weights on the team and at least 78 staff members, including journalists on the payroll.
Last month, the masthead of The Zimbabwe Times website, edited by veteran journalist Geoff Nyarota, was replaced by that of the Daily News. A statement on the site said; “Finishing touches are currently being put to a brand new and exciting The Daily News domain. It has been created in anticipation of the much anticipated relaxation of the current media landscape, which is a key and necessary precursor to any meaningful democratic transition in Zimbabwe.”
The government is being criticized for delaying the implementation of media reforms as the inclusive government has been in ‘operation’ for over a year and yet there is still no privately owned daily newspaper registered in Zimbabwe and no licenses have been issued for the independent electronic media.
The newly appointed ZMC only started operating in March 2010, after a delay of over a year in appointing the Commission.
Tuesday, April 6, 2010
Malema is crazy
At a time when Zimbabwe is in the process of national healing after a decade long impasse, the last thing the country can afford is another Chenjarai Hunzvi (may his soul rest in peace).
Hunzvi pioneered the land grabs that resulted in the racist motivated deaths of white farmers and his uncircumcised lips full of hate speech gave birth to a raucous band of war veterans who soon became a law unto themselves- threatening to seize all foreign owned companies.
Soon the desperate ZANU PF government was like a puppet on a string. Ministers like Aeneas Chigwedere advocated for a name change for all schools that had colonial names. City buildings and streets that whose names could be traced to Britain-the colonial ruler were also to be changed. This was literally rewriting history. Eveline Girls High School in Bulawayo was going to be named after the late Joseph Musika.
Now Hunzvi is gone and there remains some overzealous elements both in government and ZANU PF that stop at nothing in their quest to remain in power. How does one explain the purpose of the visit to Harare by South Africa's ANC Youth Wing dunderhead Leader, Julius Malema during the Easter holidays?
Malema jetted into Zimbabwe just weeks after his country's President, Jacob Gedleihlekisa Zuma had met leaders of Zimbabwe's compromise government so as to iron out outstanding differences. While Zuma awaits progress reports on the negotiations, the dull and foul mouthed Malema jets into the country apparently to learn from Zimbabwe on how nationalization is done. It can't a coincidence that Zimbabwe currently has an Indeginasation bill in parliament that the opposition and the industry don't support.
His presence in the country has poured water on Zuma's efforts much to the delight of ZANU PF opportunists. It is therefore not surprising that Malema was welcomed at Harare International Airport by a band of ZANU PF youths and thugs singing the "kill the Boer" song that Malema was banned from singing in South Africa.
Following weeks of tension in South Africa as a result of Malema's inflamatory, politically naive decisions and stupid comments, Afrikaner Weerstandsbeweging (AWB) leader Eugene Terre'Blanche was hacked to death at his farm in what is clearly a murder incited by his "kill the Boer" song. While denying that he incited the death of Terre'Blanche, Malema said; "I started singing this song when i was nine years old. I don't know why Terre'Blanche was not killed at that time."
Hunzvi pioneered the land grabs that resulted in the racist motivated deaths of white farmers and his uncircumcised lips full of hate speech gave birth to a raucous band of war veterans who soon became a law unto themselves- threatening to seize all foreign owned companies.
Soon the desperate ZANU PF government was like a puppet on a string. Ministers like Aeneas Chigwedere advocated for a name change for all schools that had colonial names. City buildings and streets that whose names could be traced to Britain-the colonial ruler were also to be changed. This was literally rewriting history. Eveline Girls High School in Bulawayo was going to be named after the late Joseph Musika.
Now Hunzvi is gone and there remains some overzealous elements both in government and ZANU PF that stop at nothing in their quest to remain in power. How does one explain the purpose of the visit to Harare by South Africa's ANC Youth Wing dunderhead Leader, Julius Malema during the Easter holidays?
Malema jetted into Zimbabwe just weeks after his country's President, Jacob Gedleihlekisa Zuma had met leaders of Zimbabwe's compromise government so as to iron out outstanding differences. While Zuma awaits progress reports on the negotiations, the dull and foul mouthed Malema jets into the country apparently to learn from Zimbabwe on how nationalization is done. It can't a coincidence that Zimbabwe currently has an Indeginasation bill in parliament that the opposition and the industry don't support.
His presence in the country has poured water on Zuma's efforts much to the delight of ZANU PF opportunists. It is therefore not surprising that Malema was welcomed at Harare International Airport by a band of ZANU PF youths and thugs singing the "kill the Boer" song that Malema was banned from singing in South Africa.
Following weeks of tension in South Africa as a result of Malema's inflamatory, politically naive decisions and stupid comments, Afrikaner Weerstandsbeweging (AWB) leader Eugene Terre'Blanche was hacked to death at his farm in what is clearly a murder incited by his "kill the Boer" song. While denying that he incited the death of Terre'Blanche, Malema said; "I started singing this song when i was nine years old. I don't know why Terre'Blanche was not killed at that time."
Thursday, April 1, 2010
Bennett faces fresh charge
The Movement for Democratic Change (MDC)treasurer-general and deputy Agriculture minister-designate, Senator Roy Bennett was yesterday summoned to appear at the Chipinge Magistrates’ Court on a nine year old charge that he hoarded maize. This has been seen by critics as frantic efforts by ZANU PF to prevent the politician from assuming his office in government as the terrorism trial teeters on verge of collapse.
Bennett was served with the papers as he was entering the High Court Wednesday, where he was standing trial on charges of banditry, insurgency and terrorism.
The papers, from the Attorney General's office, advised him to appear at the Chipinge Magistrates’ Court next Tuesday on charges that he breached the Grain Marketing Board (GMB) Act in 2001 for hoarding 92 tonnes of maize. The maize was produce from his Charleswood Estate in Chimanimani.
At the High Court today, Justice Muchineripi Bhunu postponed judgement to May 10 in his long running terrorism trial. He also suspended his bail conditions to the same date.
Justice Bhunu also ruled that Sen. Bennett could access his passport from the Clerk of Court if he wanted to go on a business trip outside the country.
Bennett returned to Zimbabwe in January 2009 after spending nearly two years in exile in South Africa. The MDC's treasurer-general was arrested in February last year, accused of plotting against President Mugabe's government.
The charges were that he illegally possessed arms for the purposes of committing terrorism and banditry. Bennett denies the charges, which carry a possible death sentence.
On May 10, the High Court will make a decision whether he will be put on his defence over the charges.
Justice Bhunu will rule on an application for discharge lodged by the defence team at the close of the State case three weeks that the State had failed to establish a prima facie case that Bennett plotted to assassinate President Robert Mugabe in 2006.
The prosecution, led by Attorney General (AG) Johannes Tomana, has vehemently opposed the application for discharge insisting it had placed enough evidence before the court to prove that Bennett had a case to answer.
Tomana says the fact that Bennett fled to South Africa in 2006 showed that he had a case to answer.
But Bennett says he could not stomach going to prison again after he was sentenced to 12 months in jail for shoving the Justice minister in Parliament.In 2004 Justice Minister Patrick Chinamasa told Bennett in parliament his Charleswood Estate in Chimanimani would be taken by the government and resettled.
Chinamasa called Bennett's forefathers "thieves and murderers", saying he deserved to lose his farm after benefiting from a British colonial system that robbed black Zimbabweans of their land. In the heat of the argument, Bennett pushed the minister to the ground.
The MDC said Wednesday it viewed the latest charge on Hon Bennett as a contrived political plot to haunt him and prevent him from taking up his post as deputy minister of Agriculture.
Zimbabwe Reporter quoted an MDC official saying the latest charge on Bennett "is the height of persecution of a man whose only crime is that he is white and he is MDC."
Just last Friday, state security agents blocked Sen. Bennett and his wife, Heather from proceeding to Charleswood Estate despite being granted permission to collect his personal property including the remains of his father.
"Attorney-General Johannes Tomana has once again proved why he is an outstanding issue," the MDC spokesman said. "His blatant abuse of office to persecute an innocent man has reached ridiculous heights and there is no wonder why there is a national call for him to be investigated for abuse of office."
- Simbarashe Nembaware and Zimbabwe Reporter
Bennett was served with the papers as he was entering the High Court Wednesday, where he was standing trial on charges of banditry, insurgency and terrorism.
The papers, from the Attorney General's office, advised him to appear at the Chipinge Magistrates’ Court next Tuesday on charges that he breached the Grain Marketing Board (GMB) Act in 2001 for hoarding 92 tonnes of maize. The maize was produce from his Charleswood Estate in Chimanimani.
At the High Court today, Justice Muchineripi Bhunu postponed judgement to May 10 in his long running terrorism trial. He also suspended his bail conditions to the same date.
Justice Bhunu also ruled that Sen. Bennett could access his passport from the Clerk of Court if he wanted to go on a business trip outside the country.
Bennett returned to Zimbabwe in January 2009 after spending nearly two years in exile in South Africa. The MDC's treasurer-general was arrested in February last year, accused of plotting against President Mugabe's government.
The charges were that he illegally possessed arms for the purposes of committing terrorism and banditry. Bennett denies the charges, which carry a possible death sentence.
On May 10, the High Court will make a decision whether he will be put on his defence over the charges.
Justice Bhunu will rule on an application for discharge lodged by the defence team at the close of the State case three weeks that the State had failed to establish a prima facie case that Bennett plotted to assassinate President Robert Mugabe in 2006.
The prosecution, led by Attorney General (AG) Johannes Tomana, has vehemently opposed the application for discharge insisting it had placed enough evidence before the court to prove that Bennett had a case to answer.
Tomana says the fact that Bennett fled to South Africa in 2006 showed that he had a case to answer.
But Bennett says he could not stomach going to prison again after he was sentenced to 12 months in jail for shoving the Justice minister in Parliament.In 2004 Justice Minister Patrick Chinamasa told Bennett in parliament his Charleswood Estate in Chimanimani would be taken by the government and resettled.
Chinamasa called Bennett's forefathers "thieves and murderers", saying he deserved to lose his farm after benefiting from a British colonial system that robbed black Zimbabweans of their land. In the heat of the argument, Bennett pushed the minister to the ground.
The MDC said Wednesday it viewed the latest charge on Hon Bennett as a contrived political plot to haunt him and prevent him from taking up his post as deputy minister of Agriculture.
Zimbabwe Reporter quoted an MDC official saying the latest charge on Bennett "is the height of persecution of a man whose only crime is that he is white and he is MDC."
Just last Friday, state security agents blocked Sen. Bennett and his wife, Heather from proceeding to Charleswood Estate despite being granted permission to collect his personal property including the remains of his father.
"Attorney-General Johannes Tomana has once again proved why he is an outstanding issue," the MDC spokesman said. "His blatant abuse of office to persecute an innocent man has reached ridiculous heights and there is no wonder why there is a national call for him to be investigated for abuse of office."
- Simbarashe Nembaware and Zimbabwe Reporter
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