Former Zamtel man arrested over fraud
TELECOMSBy BiztechAfrica - April 18, 2012, 3:16 p.m.
By Edith Mwale, Lusaka, Zambia
The Zambian government has arrested a former Zamtel distribution manager for Lusaka in connection with the K5 billion (USD1 million) theft in which several other employees are said to be involved.
The man, 35-year-old Masautso Banda, has been charged with obtaining money by false pretence. This is a matter in which law enforcement agencies are investigating theft of more than K5 billion by some Zamtel employees which went missing from sales of SIM packs and mobile scratch cards.
Investigative wings spokesperson Charity Chanda said yesterday that Banda was alleged to have obtained mobile scratch cards and SIM packs valued at over K501 million (USD500, 000).
The theft of the money mainly occurred during the time when the Zambian government was repossessing Zamtel from Lap Green Network that bought the company in 2010.
The government repossessed the company from Lap Green Networks in January this year after a report sanctioned by the government revealed glaring irregularities in the sale of the company by the previous administration. The 75% shares in the company were sold for USD257 million in a move the Zambian government said was aimed at saving the company from collapsing after allegedly failing to recapitalise it.
Lap Green Network has sued the Zambian government for repossessing the company. But Last week, Lap Green Networks lost the initial bid in the Lusaka High for the court order that was aimed at either to have the 75% shares frozen or given back to Lap Green Networks in the interim. Lap Green Networks fears the Zambian government might sell the shares to another company.
Some Zamtel employees are alleged to have been stealing money from the sale of SIMpacks and mobile scratch cards during the confusion.
MORE TELECOMS NEWS
Ethio telecom moves to next phase of expansionEthio telecom reports that it has concluded the task of telecoms vendor allocation and is now proceeding to implement its network expansion project. Read More
Samsung brings new Galaxy Note 10.1 to GhanaThe much talked about Samsung Galaxy Note 10.1 2014 Edition is finally available on the Ghanaian market. Read More
Safaricom awards Capture Kenya winnersFive Kenyan photographers have won the inaugural Capture Kenya Challenge, sponsored by Safaricom. Read More
Vodafone Ghana thrills subscribers with 020 Live Red Island PartyVodafone Ghana will host its annual 020 live musical concert, dubbed the Red Island Party, at the plush Labadi beach hotel on 14 December this year. Read More
Airtel Africa joins Bridge AllianceAirtel has announced that it will join Bridge Alliance, a leading mobile alliance that is made up of 14 operators, serving over 500 million customers. Read More
Plan seeks 90% mobile, 70% internet penetrationCCK’s ambitious five-year strategic plan seeks to increase the contribution of the ICT sector to GDP by 100 percent and significantly increase mobile and internet penetration. Read More
Airtel Malawi establishes new data centreAirtel Malawi has unveiled a new data centre in Malawi’s commercial capital, Blantyre, so doubling its capacity. Read More
MTN to oppose Turkcell lawsuitMTN Group will vigorously defend Turkcell's fifth claim arising from the unsuccessful bid to obtain a mobile licence in Iran. Read More
FEATURED STORYGaming app introduces investors to trading
A new virtual stock market app is equipping would-be investors with the skills they need to trade.
BEST READ NEWS
IN DEPTHText messaging makes mama mbogas’ lives easier
Innovative students have initiated a programme using text messaging, to aggregate demand and save money for Nairobi’s ‘mama mboga’ vegetable sellers.