#MondayBlues Government Not Exercising Rights On Telecel

The government of Zimbabwe through the ministry of ICT and Cyber security  is not exercising its right to drive the ailing MNO as a major shareholder.

According to already existing shareholder agreement  government through Telecel International (TI) 60% equity has managing contract implying they have operational responsibilities over the asset and the government is not enforcing it.

However there are serious worries that have crippled operations at the network due to many non filled executive appointments, exposing the mobile network.

The positions of Chief Commercial Officer (CCO) and Internal Audit Manager have been outstandingly vacant for the past 3 years while interviews were conducted and completed for both positions 4 months ago.

The executive has already completed the process but awaits government approval and direction for such senior appointments 

Telecel has also been running without a substantive Chief Finance Officer (CFO) since the departure of Maguidi Hounnou, the former executive CFO in 2013.

It is also worrying to note that there has been no movement on these appointment with management constantly referring and deferring these decisions to the board. 

The board is however also not playing its role as they have not taken any stern measures to avoid the expose while running such a huge corporate without key players.

The managing contract  rights gives power to the government to appoint  executives in the  telecoms Network. 

The same rights were under Vimplecom before governement bought stake from Telecel International .

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