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The largest mobile telephone operator of Zimbabwe - Econet Wireless Zimbabwe Ltd (Econet) has announced that it will have 100% power over TN Bank, one of the country s fastest growing local banks, subsequent to its acquisition of TN founder Tawanda Nyambirai s interest for a matching value of shares of Econet. The deal is still to be cleared by the regulatory body.
Nyambirai, who was also the chairman of Econet board, has pronounced that he has resigned from the board and will be a member of the board of Econet Wireless Global, the holding company of the mobile service provider. He was in the Econet board since 1998, and became its chairman in 2003.
According to...