Former Zamtel man arrested over fraud

TELECOMS

|
Image: By BiztechAfrica
Former Zamtel man arrested over fraud

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.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE TELECOMS NEWS

Political uncertainty holds back North African telecoms

Social and political uncertainty is hampering investment in telecoms in North African countries such as Algeria, Libya and Egypt in spite of the evident opportunities, says Frost & Sullivan. Read More

AUC expands connectivity services with Emerging Markets Communications

Emerging Markets Communications (EMC) has announced that the African Union Commission (AUC) has expanded its connectivity services with the company in Africa and renewed its existing contract. Read More

Mixed growth in Kenyan telecoms

The latest industry data released by the Communications Authority of Kenya indicates growth in some areas and a decline in others. Read More

BlackBerry Passport unveiled in Nigeria

BlackBerry Limited has launched the BlackBerry Passport, a new device built for productivity, in Nigeria. Read More

Etisalat’s subscriber figures top 20 million

Etisalat Nigeria has announced that its active subscribers figures have now reached 20 million, upp from 17 million in December last year. Read More

Over 2,000 entrepreneurs become Glo Xchange agents

Nigerian carrier Globacom has signed up over 2,000 entrepreneurs as agents for its massive mobile money initiative.  Read More

Econet: diversification pays off

Econet Wireless Zimbabwe says its strategy to steer the business towards value added services is beginning to bear fruit, as its overlay services showed strong growth in the half year to August 2014.  Read More

Tigo Music ‘Unplugged’ set for 31 Oct

Accra is getting ready to host one of its biggest shows in recent months on Friday, hosted by Tigo Ghana. Read More

Safaricom launches third sustainability report

Safaricom has announced the release of the 2014 Sustainability Report as it continues to lead transformational change within the organization. Read More

Employees voice concern over IPO

Daggers have been drawn between the Botswana Telecommunications Corporation Limited (BTCL) employees and the management over an alleged lack of consultation on the Initial Public Offer.  Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

Growing African focus on data securityGrowing African focus on data security

Beachhead Solutions’ new SA and Mauritius country manager explains the challenges and solutions around securing customer data and compliance with new personal information legislation.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.  

COMPANY NEWS

SAP accelerates shift to the Cloud with 41% revenue growth in third quarter

SAP has once again raised its revenue outlook, reporting broad market adoption of SAP HANA and its ‘Run Simple’ strategy validated.