Ethiopia is pushing ahead with plans to sell two new telecommunications licences following delays due to the coronavirus outbreak and postponed elections.
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A giant subsea cable to help bring more reliable and faster Internet across Africa will cost just under $1-billion (R18.7-billion at the time of writing), according to three people familiar with the project.
A massive new submarine broadband cable is to be built around Africa and the Middle East and is being backed by the likes of Facebook, China Mobile, MTN Group, Vodafone Group and Orange.
MTN Group said it is implementing cost control measures, focusing on mission critical expenses and enhanced oversight of expenditure, amid uncertainty over the impact of the Covid-19 pandemic.
MTN Group CEO Rob Shuter was paid out a sign-on bonus of just R17.8-million in March. This is a sizeable figure but it’s less than half of the value indicated in March 2017, at the time he was awarded the bonus.
MTN South Africa said on Wednesday that it has re-opened all of its 410 stores nationwide, but trading hours will remain limited for now.
MTN South Africa has finally reached a consent agreement with the Competition Commission over data prices, more than six weeks after rival Vodacom did the same.
MTN Group has asked a US court to dismiss a case filed against it, in which it’s alleged the company paid protection money to the Taliban in Afghanistan, endangering the lives of US servicemen.
MTN Group shares rose more than 4% in Johannesburg on Wednesday after its biggest unit, MTN Nigeria Communications, posted a solid financial report for the first quarter of the year.
Ethiopia moved closer to liberalising one of the world’s final frontiers for telecommunications by publishing the final draft of directives. South Africa’s MTN Group and Vodacom Group are keen to invest.