Zimbabwe’s second largest mobile cellular company, Telecel, on Friday confirmed that it would commit itself to complying with new regulations forcing foreign companies to cede 51% of their shareholding to locals. The newly formulated Indigenisation and Economic Empowerment Bill was passed by the Zimbabwean parliament in a bid to empower locals and retain skills in the country. An official of the company, Mike Hamilton said, “Telecel International has committed itself to complying with the legal requirement to reduce its shareholding to 49% and is in the process of considering various options for achieving this”, said Hamilton. By Marcus Mushonga
