Leading MTN Group has come at an “enormous sacrifice”, outgoing CEO Rob Shuter said on Wednesday at a media conference following the presentation of the telecommunications operator’s 2019 financial results.
Browsing: Godfrey Motsa
MTN South Africa will have a second go at a mobile money offering in South Africa when a redesigned platform goes live to the public next month after more than a year of development.
MTN South Africa CEO Godfrey Motsa said on Thursday that it is not the company’s responsibility to save rival Cell C, but it’s also not in the interests of the telecommunications sector or the country to allow it to fail.
The regulator’s complaints and compliance committee has fined MTN South Africa R5-million – R2-million of which is suspended for three years – for contravening regulations when it hiked the tariffs on one of its data plans.
Cell C has missed several payments to national roaming partner MTN South Africa, underscoring the dire financial straits in which the country’s third-largest mobile operator finds itself.
MTN has accused the Competition Commission of using outdated information in preparing its report on the data services market in South Africa.
MTN Group CEO Rob Shuter was paid R42.9-million in the financial year ended 31 December 2018, up from R40.6-million in 2017, while other top executives were also handsomely rewarded.
MTN Group CEO Rob Shuter has been granted more than R38-million in shares under the telecommunications operator’s performance share plan. The shares will vest in three years’ time.
MTN South Africa was keen to take on Standard Bank’s mobile virtual network operator business, which went to rival Cell C, and is open to other such opportunities – provided they make commercial sense.
MTN said on Tuesday that it will reach 90% population coverage with 4G/LTE technology in South Africa before the end of the year, outpacing rival Vodacom.