Turkcell is back in court next week as it seeks to keep a bribery and corruption case alive in South Africa’s legal system.
Browsing: Phuthuma Nhleko
Turkcell has vowed to continue its pursuit of MTN Group over a licensing process in Iran it alleges was rigged.
The co-founders Skype and Flutterwave are among the big names backing a new tech growth fund aimed at investing in African “impact start-ups”.
Former MTN Group CEO Phuthuma Nhleko has been appointed as non-executive director of the JSE from 1 July and will take on the additional role of chairing the board from next year.
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.
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.
MTN Group’s biggest shareholder is pushing for changes at Africa’s largest mobile phone company to avoid the regulatory, legal and political disputes that have cut its share price by more than half over the past four years.
Between 6 March, the day before MTN announced its results for the year to December, and 9 May, when it published a first-quarter trading update, its share price has increased by 36%.
Former deputy finance minister Mcebisi Jonas will replace Phuthuma Nhleko as chairman of MTN Group at the end of the year. At the same time, former President Thabo Mbeki will head a new advisory board.
Shareholders at an unprecedented number of JSE Top 40 companies have, in the past year, voted against remuneration policies and/or their implementation.