Fight for Mascom turns dirty

Masiyiwa has reportedly launched 'Operation Nehemiah' to sway fight his way PIC: MORERI SEJAKGOMO
Masiyiwa has reportedly launched 'Operation Nehemiah' to sway fight his way PIC: MORERI SEJAKGOMO

The Botswana Public Officers Pension Fund (BPOPF) armed with assets of more than P60 billion, is finalising an offer to MTN for an equity stake that would give it control of Mascom.

BPOPF is engaged in a tussle with Zimbabwean billionaire Strive Masiyiwa who earlier this year announced a P3 billion offer to buy MTN’s 53% stake in Mascom. The deal would increase his company, Econet’s overall hold in the local telecomms giant to 60%.

While a buoyant Masiyiwa told a packed youth meeting in Gaborone in April that the deal was a fait accompli, Econet ran into trouble after BPOPF resisted the transaction citing the right of first refusal principle. The pension fund is not only wary of the billionaire’s plans for Mascom but believes control of the country’s largest mobile telecomms provider should remain with Batswana who have built up its value over the last 21 years.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

Have a Story? Send Us a tip
arrow up