Revealed: How Dos Santos’ daughter lost Telecel bid

MOSES MATENGA

Daughter of the late former Angolan President Eduardo Dos Santos lost in her bid to buy mobile network operator Telecel despite putting up a spirited fight that was, however, resisted by the government that pushed to have it run by a company owned by locals, a former Cabinet Minister has said.

Isabel dos Santos, an Angolan billionaire pushed to buy the struggling company from a Russian entity that owned 60% of the shares and “knocked” on some doors in her desperate bid that was blocked.

Former Information Communication Technology (ICT) Minister Supa Mandiwanzira said there was a new push by the government to have the company run by locals with the support of then President Robert Mugabe and his deputy then Emmerson Mnangagwa who is now the current President.

Mandiwanzira told the Award-Winning Podcast, The Denny J show that there was no logic in giving out Telecel to foreigners who would then negotiate terms and not give it to locals.

“People have always had this kind of question and have not had an opportunity to understand. I got into the ministry and I found a lot of things that were happening. One thing that I discovered most of the networks had had their licenses due for renewal,” Mandiwanzira said.

“NetOne had paid, Econet had paid and the renewal fee was US$120mn. The only company that hadn’t renewed its license but was still operating was Telecel and they had gone into an agreement to pay this in terms,” he added.

“As Minister I analyzed the deal. Econet is owned by a Zimbabwean, they had paid their license fee in full. NetOne is owned by all Zimbabweans because it is a state owned enterprise, they have paid. Telecel is owned 60% by a Russian billionaire, they have been given terms to pay. (I asked) how is this possible that we give support to a foreign owned company but we don’t give that support to Zimbabwean owned companies”

“I accept that 40% of Telecel was owned by Zimbabweans and I respect that was the case but we were giving a free loan and on the back of hardworking Zimbabweans to a company that was a multi-billion-dollar enterprise globally and this is a company that would not have a problem paying for US$120mn and I said there is something wrong here and this is unacceptable.

He said he then went to Mugabe to air his views and was supported by the then President.

“I went to the President and I said these are my views. I said I think a deal was done and if I was in charge I would not have agreed to this deal because I think it is unfair on Econet, I think it is unfair on NetOne and why would Zimbabweans be bankrolling a foreign entity.”

“I didn’t understand why we would give terms to a multi-billion-dollar company and (the late former President Robert) Mugabe agreed with me. Around the same time, the Russians were selling their shareholding.

“They had almost cut a deal with a network from Angola owned at that point by the richest woman on the African continent, Eduardo Dos Santos’ daughter, Isabel, who made an appointment and came to see me,” the Nyanga South Member of Parliament said.

“They came to present their proposal that they would want to buy Telecel and they wanted to buy it but wanted to be given more time to pay the license fee. I felt we were still in the same space and how do we allow this. In my position as ICT Minister, I reported to the Vice President who is the current President so I would go to him and he would give direction such that the moment I then go to President Mugabe, I would go there organized.”

He said Mugabe did not agree to the deal.

“We discussed this with the President and told him the Angolans want to buy it and have agreed with the Russians. I questioned why shares were being bought and exchanged internationally, nothing for Zimbabwe.

“The President asked why were we involving foreigners as if Zimbabweans have no capacity,” he said.

“l met Isabel and told her we can’t have that and she tried to get in other offices but it was not successful. As a government I was given a mandate that we should localize the shareholding and that is exactly what we did.”

For full interview on this and other issues Watch on

Boyz Dze Tonaz TV YouTube channel