Africa Richest Women Eyes Stake In Telecel Zimbabwe – Sources

Africa Richest Women Eyes Stake In Telecel Zimbabwe – Sources

According to the Zimbabwe Independent, Africa’s richest woman and daughter of Angola’s President Isabel dos Santos is seeking to buy a stake in state-owned Telecel and has already send her representatives to discuss the investment opportunity with Zimbabwe’s government officials.

Isabel, who is estimated to be worth over $3.3 billion according to Forbes and has number of telecoms businesses in Portugal and Angola, was in Zimbabwe earlier to meet senior government official.

“Madam Isabel Dos Santos’ representatives including her chief protocol officer were in the country to discuss opportunities in the telecoms sector at the ministry’s offices,” Zimbabwe Independent quoted an undisclosed source saying.

Details of the deal are not out yet but Isabel, through her company Unitel S.A, is believed to be keen to acquire stake in Telecoms giant Telecel, whose local operation is hotly contested by a motley group of shareholders.

“There are quite a number of investors interested in the telecoms sector,” ICT deputy minister Win Mlambo said. “It is normal for there to be such interest because it is a lucrative business.”

Last month, the Zimbabwe government orders Telecel to stop operating in the country on ground it had not paid $137 million for a seven year license and was no “complying with the country’s laws”.

Isabel also owns a 7 percent stake in oil and gas firm GalpEnergia along with Portuguese billionaire Americo Amorim, and has a controlling stake in Portuguese cable TV and telecom firm Nos SGPS.

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