Africom, PowerTel And Zarnet Form A Merger In Zimbabwe
Zimbabwe’s Minister of Finance and Economic Development, Professor Mthuli Ncube has introduced the country’s public enterprises reform programme, saying that it will bring efficiency to the economy.
Addressing the media at a briefing after this Tuesday’s cabinet meeting, Professor Mthuli Ncube said that reforms would be instituted on public entities such as ZESA and GMB.
Ncube declared that as stated in the Transitional Stabilisation Program (STP) ZESA subsidiaries would be merged into one vertically integrated company and this meant that the Electricity Act would be amended in order to cater for the proposed adjustments to the structures of ZESA.
He added that there was a need to engage a reputable Human Resources consultant to assist the government with advice on which structure would be best for the rebundled ZESA as Powertel would now be hived off ZESA and merged with Zarnet and Africom.
Zarnet and Powertel are both state enterprises, while Africom was founded by Kwanayi Kashangura as a private entity but somehow the government had bought shares.
Africom and Powertel are both internet access providers, while Zarnet was created by the Information Ministry to offer ICT requirements to government schools and tertiary institutions. It is currently a 60% shareholder in Telecel Zimbabwe Ltd on behalf of the government.
Powertel and Africom have been experiencing obstacles of their own and have lost some market share. Africom and Powertel recorded notable declines in revenue and market share. Powertel’s decline was 4,8% to 8,6% from 12,8 % in 2018’s Q4 while Africom saw a 0,69% drop to 2,1% from 2,8 % in 2017’s Q4.
The Posts and Telecommunications Regulatory Authority of Zimbabwe will also be merged with the Broadcasting Authority of Zimbabwe.
Credit: This article originated from www.techunzipped.com