Makamba wins Telecel shareholding battle

HIGH Court judge Justice Edith Mushore has ruled in favour of the once exiled businessman James Makamba in a long-drawn Telecel Zimbabwe (Pvt) Ltd share ownership battle with a war veterans organisation, Magamba eChimurenga Housing Trust.

In the initial application, Magamba eChimurenga Housing Trust, was claiming 24% shareholding in Empowerment Corporation (Private) Limited, the indigenous group that owns shares in Telecel Zimbabwe.

However, in an order granted on October 18, Justice Mushore dismissed the trust’s application with costs.

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