Potraz cancels Spiritage Communication licence

Potraz cancels Spiritage Communication licence
Published: 18 September 2013
THE Postal and Telecommunication Regulatory Authority of Zimbabwe (Potraz) has cancelled the operating licence of Valley Technologies (Pvt) Ltd after the company failed to pay a licensing and spectrum fee with debts reportedly amounting to $2,4 million.

In a notice yesterday, Potraz said it had cancelled Internet provider licence class A issued to the company in 2008.

"Internet Access Provider Class A licence Number IAPB200809006 issued to Valley Technologies (Pvt) Ltd t/a Spiritage Communication on October 29 2008, was cancelled in terms of Section 43 of the Postal and Telecommunications Act," Potraz said.

According to the notice, the licence was cancelled on September 10 and the company has been duly informed of the cancellation in writing.

The struggling telecoms company was last month put under provisional liquidation following a High Court application by one of its creditors, DHL International Zimbabwe (DHLIZ).

According to the applicant's founding affidavit, Valley owed DHLIZ the sum of $41 464 in respect of services provided to the telecoms player, broken down as $38 000 being the balance of capital debt, $2 664 in interest, $800 in respect of legal costs for the application according to a September 2012 High Court judgment debt.

Valley is said to have failed to pay the judgment debt despite several demands made by DHLIZ including attempts to attach some of the telecoms company's assets.

Winsley Militala was appointed as provisional liquidator pending granting of a full order.

Valley was last year taken over by AfrAsia Kingdom Bank through a debt-to-equity swop for 80% of the telecoms company through the bank's special purpose vehicle - Lalela Trading - after the mobile network operator failed to settle its obligations to the bank.

Legally, Lalela are the new owners of the business.

After signing the deal, Lalela appointed Nigel Chanakira, Happymore Mapara, Maureen Gula-Ndebele, Sobusa Gula-Ndebele and Simplisius Chihambakwe as directors of Valley.
- southerneye
Tags: Potraz, ValleyTech,

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