Marisa said he did not see why individuals would invest in mobile network equipment when they had not been issued with an operating licence by POTRAZ.
The response comes at a time when two firms are already mulling moving into the mobile telephone network industry.
The two are Masawara, led by mogul Shingai Mutasa and Chemist Sizibas Broadlands, which recently bounced back silently into the telecommunications sector in Zimbabwe.
Siziba was the Chief Executive of Cosmos Cellular, a service provider to government-controlled NetOne (Private) Limited when it was formed in 1996. He fell out of favour with NetOne due to failure to remit funds to the holding firm. He is understood to be planning to use the latest 5G technology in his new network. This would be the most advanced in Zimbabwe today, market players confirm.
Mutasa has already said he intends to jump into the mobile phone sector because he can use his service stations at BP & Shell Marketing as base stations.
Masawara concluded the acquisition of a 50 percent stake in Telerix Communications in November, last year, for $5 million through a private placement.
Telerix is among the few Internet Service Providers (ISPs) in Zimbabwe today.
The company can now legally construct, operate, develop and maintain a public data internet access and Voice Over IP Network in Zimbabwe as its subsidiary has an Internet Access Provider Class A Licence.
Telerix has a 20 year capacity Purchase Agreement contract with a local long distance dark fibre operator, to connect its network operations centre to the SEACOM. The company will also establish a fixed, nomadic and ultimately fully mobile broadband services via Fibre Optic and WiMAX network architecture.
Masawara recently acquired 100 percent of BP & Shell Marketing Services (Private) Limited for a consideration of $30 million financed through a $8,2 million cash and debt funding arrangements.
Mutasa said the equity investment would be diluted through a combination of several measures including introducing financial and technical partners, an employee share ownership scheme, and implementing various economic empowerment initiatives.
Post published in: News