Zimbabwe: Govt Calls NSSA to Order Over Telecel Acquisition

Mergers, Acquisitions and Financial Results

The Government has called the National Social Security Authority to order directing the authority to focus on financing the acquisition of Telecel Zimbabwe through Zarnet, instead of attempting to usurp the deal from the state-owned technology concern.

In confidential documents seen by The Herald Business, Government also expressed concern at the combative tone of the authority following a plethora of letters written by the authority's lawyers, which threatened to derail the deal.

Through the Attorney General's office, Government made it clear that it was not happy with efforts to sneak in new issues in earlier agreements, which has the effect of renegotiating the agreements entered into for the acquisition of the mobile company by Zarnet. Read the full story in The Herald here: http://www.herald.co.zw/govt-calls-nssa-to-order-over-telecel-acquisition/

Ghana to revoke Expresso’s operating licence

Ghana’s telecoms regulator, the National Communications Authority (NCA), is reportedly mulling the annulment of the operating licence of cellco Expresso (Kasapa Telecom), which is 82% owned by Sudanese-based Sudatel Telecom Group (STG), domestic news source pulse.com.gh reports. Expresso Ghana has been facing significant liquidity challenges over the past three years and its inability to secure a financial investor has led to drastic drop in the number of subscribers (106,082 at 31 May 2016), equivalent to roughly 0.3% of the market at that date.

NCA’s Director for Engineering Henry Kanor said in an interview with Accra-based Citi FM that the continued inactivity of Expresso has taken its toll on the industry stakeholders by creating a deficit in the revenue targets of the regulator and government. The official was cited as stating: ‘The status quo cannot remain the same for long, we want to make sure that customers get the best services, we want to get revenues for government and as regulator we need revenue to survive. We have triggered the regulatory processes to revoke the licence, it is a long process and I cannot say how long it will take but the process will end at a time. And I am optimistic very soon a policy statement would be made on the company.’
SourceL Telegeography