New twist to Valley Technology ownership

TELECOMS firm Spiritage Group chief executive officer Zachary Wazara has distanced the company from the debt-ridden Valley Technology, saying the company had since Januray this year been acquired by an investment vehicle linked to AfrAsia Kingdom Bank Zimbabwe (AKBZ).

Report by Victoria Mtomba

Wazara on Tuesday said his company and AKBZ agreed on December 12, 2012 on the swap deal that resulted in the bank being the majority shareholder in Valley Technology with 80% with the remainder being held by a separate investment vehicle.

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