April 29, 2008
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Celtel Zambia has postponed the launch of its initial public offering (IPO) until Wednesday, a company official said. The offering, aimed at local and international investors, had been scheduled for Monday.
Celtel Zambia is a sister company of Celtel International B.V., which operates in 15 African countries. Celtel Zambia provides voice service, international roaming, pre- and post-paid subscriptions, Blackberry and mobile Internet services to large and small businesses in both remote and urban areas.
Celtel will be the first mobile company in Zambia to offer shares to investors. Celtel networks in other African countries are still working on regulatory requirements.
Source: IDG.NO
April 30, 2008 at 6:49 am
I am lost for words! I can only say thank you Celtel! Your investment in the Zambian economy has been phenomenal. Celtel was never a parastatal. It was bought by MTC (Kuwait) from the Sudanese telecom entrepreneur Mo Ibrahim. And you’ve had no qualms of offering Zambians some ownership of this enterprise! Bravo! We can not say the same of the privatised mines…..KCM, Mopani, Chambishi….when are we going to be offered ownership in these firms…you are ripping us off!
April 30, 2008 at 3:57 pm
Mbulawa,
… I have always said that the Russian Oligarch is a bad point of reference when it comes to local individuals amassing vast economic resources. But what we see in their case is that indigenous people got hold of all parastatals post the Soviet Union era.
This created a class of bourgeoisies from within who control all national factors of production but they are at least all Russian.
Image if this was the case for Zambia, if all the privatized entities post Kaunda were controlled by a Zambian Oligarch. The Russian Oligarch is filled with billionaires in international terms, image having Zambian billionaires who would be in control, imagine the creation of wealth locally not just in our Enterprise but regionally.
Imagine all the possibilities involved, just look into your mind; amazing wonders reside there … thanks a trillion.