In response to Telecel rebuts Mandiwanzira’s claims: The reason behind Telecel’s woes seems to be the indigenisation law, which allows greedy politicians to parcel out other people’s companies on what may be xenophobic lines.
Why do we need to indigenise Telecel if other telecommunication providers — NetOne, Econet, TelOne and others —are already highly indigenised?
The information communication technology sector collectively is already highly compliant to that obnoxious law that is not only foreign direct investment (FDI)-repellant, but a jobs destroyer as well.
We talk of attracting FDI, and when it comes, we slap it in the face!
Let those indigenous people who want, if at all, to invest in Telecel strengthen NetOne, Powertel and TelOne’s weak balance sheets first.
There is no shortage of projects to absorb local capital, from agriculture to tourism.
What is short is money.
That means no one, except the greedy and lazy, should be fighting to invest in other people’s projects.
Information Communication Technology minister Supa Mandiwanzira must be reined in.
The headlines he is generating are being watched globally by all capital markets from New York and London to Shanghai.
Such behaviour as he is exhibiting is a threat to recently concluded potential “mega deals”.
I bet my last dollar we will see less and less of Chinese investment going forward, not to mention FDI from the West.
This should be regarded as a threat to national security and calls for a tough and immediate response.