MTN Group and Shoprite are among South African firms facing a backlash to xenophobic violence in their home country.
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Just days after news emerged that Cell C was pulling the plug on its wholesale fixed-LTE broadband plans, MTN South Africa has stepped into the breach, offering high-capped packages at aggressive price points.
S&P Global Ratings has downgraded Cell C’s debt to “D”, or “default” – its lowest-possible “junk” rating – after the mobile operator “failed to make interest payments on certain bilateral loan facilities” due last month.
Nkosana Makate has revealed publicly for the first time that Vodacom offered him a settlement of R47-million during his latest compensation talks with the telecommunications giant.
MTN South Africa has shut down 53 base stations on a permanent basis due to “severe damage and vandalism”. Thirty-nine of these towers were in Tshwane and 15 in Johannesburg.
At least 500 Vodacom base stations in South Africa are targeted each month by criminal syndicates, with batteries and copper cables the main target, the company said on Thursday.
Regulators, including Icasa and the Competition Commission, will have to be pragmatic and lenient about a looming expanded tie-up between Cell C and MTN South Africa if the former isn’t going to go to the wall.
Mobile money is the fastest growing source of income for network operators such as MTN and Safaricom, outpacing data.
MTN South Africa is making “good progress” in its plans to relaunch mobile money services in South Africa, according to group CEO Rob Shuter.
Cell C said late on Thursday that it is up to date with all payments to MTN South Africa for its national roaming agreement.