adminLloyd Gumbo Senior Reporter
Government has defended the decision to expand its interests in the telecommunications sector by allowing its company the Zimbabwe Academic Research Network (Zarnet) to consider buying 100 percent stake in Telecel Zimbabwe.
Zarnet is already into internet service provision.
Information Communication Technology, Postal and Courier Services Minister Supa Mandiwanzira told parliamentarians on Wednesday that Government was interested in buying a stake in Telecel.
He made the remarks during a Questions without Notice session in the National Assembly yesterday.
Minister Mandiwanzira revealed that Government stopped Amsterdam-based VimpleCom from selling its 60 percent to another foreign company.
“This company had almost reached an agreement with a company outside Zimbabwe to buy this 60 percent and Government took a deliberate decision to stop this kind of transaction on the basis that since its establishment foreign shareholding in Telecel Zimbabwe has (been) exchanged more than twice without capital gains tax being paid in this jurisdiction,” said Minister Mandiwanzira.
Online Reporter