Muchenje sacrificed over NetOne - ZTE deal?

By Staff reporter | 09 Mar 2020 at 21:01hrs
Conspiracy has it that Lazarus Muchenje is all but suffering for scuttling the ZTE - NetOne Deal, the same reason why today NetOne is being slapped with a total $4.9 million lawsuit.

ZTE was blocked by suspended CEO, Lazarus Muchenje and the current sitting board for offering billing services, effectively cancelling their contract citing dollarisation and cost effect of the contract.

ZTE would have been paid around usd $10 million and continuous licence renewal fees ballooning the costs.

The CEO, Mr Lazarus Muchenje recommended to the board that it was not feasible for them to carry on with ZTE deal due to the cost and foreign currency issue demanded in their arrangement, as government de-dollarised just before the contract was signed.

ZTE was finally pushed out of the deal, but sources said some board members (names Supplied) were not happy with this decision and had reservations over the matter.

Conspirators have it that ZTE might then have had a gentleman talk with some directors, in a bid to bounce back to NetOne and some board members may walk away with fat bank account balances should they drive the comeback of company.

Now just last week, conveniently when the opposing board members have all but resigned and when Lazarus Muchenje is almost on his way out!

ZTE last week wrote again to NetOne board, seeking reconsideration, and TechnoMag has it that the board has already given indications to consider their attempt to come back.

Technomag spoke in length to the minister of ICT Postal and courier services, Hon Jenfan Muswere to have his comment over such developments he said..

"It is not possible for the board to push towards the ZTE comeback, the case was already done and closed since NetOne cancelled their contract.

Besides even if they would come back, such matters are no longer a prerogative of the board or executive, the new corporate governance statutes clearly state that no executive will sign any international contract, this is now done via the line ministry which then seeks approval through the Attorney General.



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