State run telecoms firm ZAMTEL has fired its Chief Executive Officer Dr Mupanga Mwanakatwe.
Sources at ZAMTEL disclosed that Dr Mwanakatwe was fired on Saturday after falling out with the government.
However, a statement released by ZAMTEL on Monday indicated that Dr Mwanakatwe has separated from employment by mutual agreement.The company’s Chief Technical Officer Sydney Mupeta has been appointed to act as CEO.
Dr Mwanakatwe who is husband to Commerce, Trade and Industry Minister Margaret was appointed by late President Michael Sata in January 2012 after government acquired the 75 per cent shareholding of Lap Green Network in Zamtel.
ZAMTEL’s performance under Dr Mwanakatwe has deteriorated according to the Auditor General’s report of 2014 declaring the company technically insolvent.
The firm has since been pleading for government to pump in around US$400 million in fresh capital required to turn around the loss making entity which has fallen behind in distant third to Airtel and MTN in subscriber numbers.