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JAMES MAKAMBA

Daniel Nemukuyu Harare Bureau
TELECEL chairman James Makamba faces ouster after one of the company’s shareholders — the Zimbabwe National Miners Association – filed a High Court application seeking a fresh leadership election.
ZNMA is one of the three indigenous organisations that formed the Empowerment Corporation for purposes of partnering Telecel International to form Telecel Zimbabwe, the country’s third largest mobile phone company.

The Empowerment Corporation owns 40 percent shareholding in Telecel Zimbabwe and Makamba was elected to chair the board on behalf of the three indigenous entities.

The ZNMA, the Indigenous Business Women’s Organisation and Kestrel Corporation, constituted the Empowerment Corporation in 1998. Each organisation chose a member to represent them as directors for the Empowerment Corporation.

Makamba (Kestrel), Jane Mutasa (IBWO) and Giles Munyoro (ZNMA) were appointed directors of Empowerment Corporation. Munyoro is now late and Shepherd Kapota replaced him.

Empowerment Corporation then elected Makamba as chairperson, who was also seconded to be Telecel Zimbabwe chairman.

Since 1998, Makamba has been the chairman despite the fact that he has lived outside Zimbabwe for nearly a decade.

In its court application, ZNMA argued that it has never received any money from Telecel since its establishment and that the company has never declared any dividend. ZNMA also contends that Telecel Zimbabwe has never published its financial statements in the Press as required by the law.

In the summons filed at the High Court recently, ZNMA wants an order compelling the Empowerment Corporation to convene an urgent extra-ordinary meeting to choose a new chairman to replace Makamba.

ZNMA also wants an order compelling Telecel Zimbabwe to disclose and pay the dividends due to it within 48 hours of the granting of the court order.

Harare lawyer Advent Tavenhave is representing ZNMA.

Makamba, in reply, deposed an affidavit emphasising that he was still the managing director and chairman of Telecel Zimbabwe. He indicated that he was also the director of Kestrel, which was a major shareholder in the Empowerment Corporation.

Makamba dismissed as false, allegations that he was running the Empowerment Corporation single-handedly.

The case is yet to be set down for hearing at the High Court.