Phuthuma Nhleko, the man who led MTN Group on an acquisition spree that turned the telecommunications operator into an emerging-markets giant, has stepped down from its board of directors.
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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 Group CEO Rob Shuter on Thursday voiced his disappointment in the Competition Commission’s report on the data services market in South Africa, arguing it was poorly framed and failed to acknowledge the successes of the industry.
President Cyril Ramaphosa cut short a trip abroad to deal with an escalating crisis at the state power company, as week-long blackouts threaten to tip the economy into recession.
Batteries that don’t have time to recover fully and criminals taking advantage of power cuts are two of the factors making life difficult for South Africa’s mobile networks as rolling blackouts continue into a sixth day.
Telkom Group CEO Sipho Maseko has slammed the Competition Commission for intervening directly in prices in the data services market, warning using this “blunt and archaic” tool is an “ineffective instrument that may ultimately have unintended and deleterious consequences”.
The Competition Commission says data must fall; Vodacom and MTN say they need more spectrum. Ten years after communications regulator Icasa tried to license new spectrum, it still hasn’t happened.
The Competition Commission’s final report on the data services market in South Africa is, frankly, an embarrassment. It amounts to regulatory overreach and dangerous populism that could threaten billions of rand in planned investments in the coming years. By Duncan McLeod.
MTN Group on Wednesday issued a statement to investors in which it criticised the Competition Commission’s final report on the data services market in South Africa, saying it will “vigorously defend against over-broad and intrusive recommendations” by the commission.
After a massive selloff on Monday, shares of South Africa’s biggest listed telecommunications companies continued to trade lower into Tuesday.