MTN South Africa said on Wednesday that inroads are being made in the fight against battery theft at its base stations and that police are making progress in shutting down the syndicates behind the scourge.
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MTN Nigeria, MTN Group’s largest operating subsidiary, turned in a robust performance in the 2019 financial year, with mobile subscribers rising by 6.1 million to 64.3 million and profit before tax up by 31.1%.
Though there is “significant doubt” over Cell C’s ability to continue as a going concern, the mobile operator’s biggest shareholder, Blue Label Telecoms, said on Friday that “management believes it is more likely than not” that the company will survive.
Econet Global, owned by Zimbabwean billionaire Strive Masiyiwa, is keen to acquire a telecommunications licence in Ethiopia, which is opening up the industry to foreign investment for the first time.
Safaricom, weighing up an offer for Ethiopia’s telecommunications business later this year, plans to take on debt to fund a joint bid by a consortium including parent Vodacom and two other entities.
It’s been a grim start to 2020 for some South African-listed technology companies, which have seen their shares battered on weak earnings updates and negative investor sentiment.
MTN South Africa said on Tuesday that it’s some making progress in fighting the scourge of cellphone tower battery theft, though the problem is far from being overcome.
Even when South Africa has completed the switch-off of analogue television broadcasting signals as part of the long-delayed broadcasting digital migration project, the spectrum may still not be available for broadband operators.
Remgro’s CIVH has made it crystal clear that it wants to be a major player in South Africa’s planned wholesale open-access network and has lobbied communications regulator Icasa to provide strong support to the new entity.
MTN Group’s headline earnings per share will rise by as much as 50% in the year ended 31 December 2019, it said in a trading statement issued after markets closed in Johannesburg on Tuesday.