Selpon Investments
Trading name | Selphon Investment Private Limited |
---|---|
Type | Investment Company |
Industry | Investment. Telecoms |
Genre | Indigenous, Family Business, Private Company |
Founder | Jane Mutasa |
Headquarters | Harare, Zimbabwe |
Key people | Jane Mutasa, Patrick Zhuwao, James Makamba |
Owner | Jane Mutasa |
Parent | Empowerment Corporation of Zimbabwe |
Selphon Investments Private Limited is a company owned by a Zimbabwean born businesswoman Jane Mutasa. It is a family owned investment company which operates under a consortium of local companies called Empowerment Corporation of Zimbabwe (ECZ).[1] ECZ has 40% stake in Telecel Zimbabwe.
In January 2015, Selphon investments made headlines when it made threats to stop an extra ordinary meeting in the parent company Empowerment Corporation.[2] The meeting was scheduled to take place on the 20th of February 2015 and on the agenda were deliberations to decide the ceding of 40% equity in Telecel Zimbabwe.[2] The equity was said to be worthy US$20 million. Selphon Investments also questioned the role of Patrick Zhuwao the company's managing director and his influence on the proposed 40% equity deal with Brainworks Capital Management.[2]
In 2014, Selphon Investments opposed a move by Telecel Zimbabwe to sell 72% of the company's shares to a South African based Zimbabwean business guru James Makamba through his company Kestrel Corporation.[1] The company, together with other founding stakeholders of Empowerment Corporation of Zimbabwe such as the Indigenous Business Women Organisation launched an inquiry on how James Makamba had accrued 72% of shares in the company.[3]
The rift between Selphon and Makamba's company began in around 2000 when Kestel chipped in with about z$16 million to rescue Empowerment Corporation from a liquidity crunch.[3] This, according the company's constitution, this awarded Makamba with bigger share than other members. At this time, IBWO sold 1 500 of its shares and Selphon declined to acquire the shares. This resulted in Makamba's Kestel acquiring the bigger chunk of the shares.[3]
==
References
- ↑ 1.0 1.1 , New twist to Telecel wrangle,Daily News, published:14 Nov 2014,retrieved:29 Jan 2015"
- ↑ 2.0 2.1 2.2 , Jane Mutasa Clashes With Zhuwao,NewsDzeZimbabwe, published:28 Jan 2015,retrieved:29 Jan 2015"
- ↑ 3.0 3.1 3.2 , Disputed Telecel Stake Equitably Shared,Nehanda Radio, published:20 Nov 2014,retrieved:29 Jan 2015"