All eyes are on MTN South Africa and Telkom, which have failed to reach an agreement with the Competition Commission to lower data prices within the specified deadline.
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MTN Group shares fell more than 12% on Monday morning in Johannesburg, to their lowest levels in nearly 14 years, as investors digested the news of a shock fall in oil prices overnight.
Police have arrested five suspects belonging to one of South Africa’s largest battery theft syndicates, mobile operator Vodacom said on Thursday.
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.
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.