Telecel gets new boss

Herald Business has it from reliable sources that Swiss national Mr John Swain has assumed control at the country’s second biggest mobile phone operator.
Asked to comment on the development, Telecel promised to respond to written questions, but had not done so by the time of going to print.
“I write to confirm receipt of your mail,” wrote Ms Florence Kanyangarara, Mr Swain’s personal assistant. “Please be advised that we will get back to you as soon as is feasible.”
Telecel International directors were reportedly scheduled to meet in October last year to discuss the future of Telecel Zimbabwe, including the fate of former managing director Mr Mpore who has since been replaced by Mr Swain.
According to the informed sources, the board met for the first time, since Vimpelcom bought into Orascom, which controls Telecel International, to discuss strategic issues.
A source told The Herald the meeting held last year was expected to determine the fate of Mr Mpore who was struggling to renew his work permit.
“The board is expected to meet at the end of this month,” said the source. “A lot of issues will be discussed and a lot is expected to happen once the meeting has been held.
“You just need to wait and see. Various issues about the company will be discussed, including the issue of the MD and recapitalisation.”
Mr Mpore had been battling to obtain a work permit from the Department of Immigration after his two-year provision expired in April last year.
Telecel International had initially given him a two-year contract with an option for renewal, subject to him successfully extending his initial work permit.
From the outset, Mr Mpore struggled to obtain the permit, having been deported the first time he sought one when it emerged he had misrepresented information on his expulsion from Cote d’Ivoire in 2009.
The Telecel International board is also expected to discuss key issues regarding the recapitalisation of its local unit since Russia’s Vimpelcom bought in.
This follows the realisation that Telecel Zimbabwe will need to invest significantly on expansion to compete at the same level as Econet Wireless.
Econet Wireless, Zimbabwe’s largest telecommunications operator by value and subscriber numbers, has invested hundreds of millions on expansion.
Telecel Zimbabwe became part of Vimpelcom after the giant Russian telecommunications group acquired 51 percent shareholding in Orascom of Egypt, which holds a 60 percent shareholding in the local unit.
Telecel Zimbabwe stands to benefit immensely from Vimpelcom’s deep pockets after the Russian mobile phone operator firm recently raised US$2,2 billion on European financial markets, giving it a strong capital pool.
Undoubtedly, the Russian firm has a strong balance sheet valued at 7,9 billion euro with revenues amounting to US$5,5 billion in the interim to June 2011.
On the African continent, the Orasom-Vimpelcom interests in telecoms span several countries, including Leo of Namibia, Telecel Burundi and Central African Republic, Djeezy in Algeria as well as Mobinil of Egypt.
Its operations are divided into six core regions of Europe and North America, Russia, Ukraine, the Commonwealth of Independent States and Africa, and Asia.