South Africa’s television set-top box tender is coming under the spotlight as an investigation has been launched into its procurement process. Replying to questions from an ANC member in the national council of provinces in parliament on Thursday, the department of
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Cell C shareholder Oger Telecom has rejected a R14bn offer from Telkom to acquire its 75% controlling stake in South Africa’s third mobile telecommunications provider, Bloomberg reported on Thursday. Quoting a “person familiar
MTN’s group CEO, Sifiso Dabengwa, is in Nigeria to negotiate with authorities in the West African country as the JSE-listed telecommunications provider looks to head off a damaging US$5,2bn (R72bn) fine. In a statement to shareholders on
Ratings agency Standard & Poor’s (S&P) has downgraded MTN’s credit rating and put the mobile network on a watch negative amid a US$5,2bn fine in Nigeria. S&P said on Thursday that it’s lowering its ratings on MTN from “BBB” and “zaAA+” to “BBB-“
The Nigerian Communications Commission (NCC) shows no sign of backing down over a record-setting US$5,2bn (R72bn) fine against the local subsidiary of South African-headquartered mobile phone group MTN. According to a report by
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This past April, the World Bank unveiled the Global Findex, the most comprehensive set of data on financial inclusion ever compiled. In strokes both broad and small, it paints a picture of where we stand in the fight to turn the 2bn unbanked poor of the world into active participants
The legal framework for broad-based black economic empowerment in South Africa has recently been significantly reformed through several amendments to the Broad Based Black Economic Empowerment Act and new “generic” codes of good practice (which set out
On Monday, the market learnt that the Nigerian Communications Commission (NCC) had hit MTN with a fine of1,04 trillion naira for failing to deactivate unregistered Sim cards by a regulatory deadline. The fine, which equates to more than R70bn, is more than twice the entire group’s
Telecommunications group MTN will review its senior management team in Nigeria after a regulator there imposed a record-setting US$5,2bn (R71bn) fine on the subsidiary company for allegedly failing to deactivate as many as 5,1m Sim cards before a deadline to do so