Newsexpress place banner advert Yudala genuine products
NCC Fine: You’re on your own, South Africa’s Deputy President tells MTN

By News Express on 05/11/2015

Share on facebook Yahoo mail icon Gmail icon

Views: 1,329


MTN Group Ltd., Africa’s biggest mobile-phone company that’s facing a $5.2 billion fine in Nigeria, must follow the rules in countries where it does business, South African Deputy President Cyril Ramaphosa said.

“We will obviously be taking note of what is happening with a view of seeing how the company involved responds and reacts in this matter,” Ramaphosa told lawmakers in Cape Town on Wednesday. “We would like our companies to comply with the laws and regulations of countries where they operate, without violating those.”

The comments by Ramaphosa, a former chairman of MTN, suggest South African authorities may leave MTN to fend for itself as it seeks to have the penalty reduced. MTN shares have slumped 14 percent since Oct. 26, when Nigeria’s industry regulator imposed the fine for failing to disconnect customers with unregistered phone cards.

The Nigerian Communications Commission has given MTN until Nov. 16 to pay the fine, which relates to the timing of the disconnection of 5.1 million subscribers and is based on a charge of 200,000 naira ($1,005) for each unregistered customer. Nigeria is Johannesburg-based MTN’s biggest market with 62 million clients as of September.

“It does seem like in the case of Nigeria, there were issues, and those issues need to be addressed,” Ramaphosa said. “If this fine is indeed imposed as it is, it is going to impact on South Africa as well, as our revenue fortunes from a taxation point of view are going to be lower.”

South African authorities may be reluctant to confront their Nigerian counterparts following a series of diplomatic spats that have soured relations between Africa’s two biggest economies. The most recent occurred in April, when Nigeria’s government ordered its two most senior diplomats in South Africa to return home for consultations following a wave of attacks against immigrants, including Nigerians, in Johannesburg and Durban.

“South Africa does not have a track record of defending its national company champions internationally,” Nic Borain, a political analyst who advises BNP Paribas Cadiz Securities, said by phone. “On the face of it, this fine seems seriously over the top. Ramaphosa’s words about the issue seem weak as they veer too much on the side of caution.”

South Africa’s telecommunication and finance ministries didn’t immediately respond to calls and e-mails seeking comment.

Lawmakers plan to summon MTN officials to explain why the company was fined, Nkhensani Kubayi, chairwoman of Parliament’s telecommunications committee, said by phone from Cape Town. The panel also intends questioning the South African industry regulator to determine whether MTN is compliant with local rules, with hearings likely to take place next year, she said.

“I believe the South African government should be doing more than having a watching brief on what MTN does,” Athol Trollip, a lawmaker for the main opposition Democratic Alliance, said by phone. “They should give leadership on this.” (Bloomberg)

•Photo shows South African Deputy President Cyril Ramaphosa.

Source News Express

Posted 04/11/2015 9:15:36 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
Phone swap thrives at Abuja GSM Village

Controversy trails porn movies shot in Benue State...

Breaking News: Boko Haram recaptures Borno town

Breaking News: Traders buried alive as building collapses...

Deportation of Igbos from Lagos divides Ngige’s family...

Ijaw Youths challenge Buhari on resource control, allege...

Super Eagles set to vanquish Congolese Devils in...

Cult rivals kill pastor’s son

Ambode appoints 57 LG sole administrators; swearing-in holds...

Deciding moment at UN Youth Assembly

Old school journalists to vanish sooner than later...

4 land speculators lynched in Lagos

 

Latest News FG releases Unity School Common Entrance Examination results Cloudy weather to persist today with chances of rain, thunderstorms Police hunt for killers of KAI official APC commends the Senate on PIB passage Nigeria, China work on prisoners’ transfer agreement NEMA moves 270 Nigerian returnees from Cameroon PIGB: Senate approves unbundling NNPC Obasanjo, Osinbajo speak on the lessons of Biafra 2 soldiers arrested for disrupting sitting of Edo Mobile Court NYSC mobilises 2,356 corps members to Delta Kogi demolishes 18 houses used by criminals Ekweremadu canvasses total removal of age requirement for political offices

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (246,413 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (222,908 views) Shameless Genevieve Nnaji exposes breasts in public (184,706 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (165,333 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (158,332 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (138,343 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (120,820 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (118,185 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (106,197 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (102,597 views) Lagos plane crash: Journalist releases victims’ names (101,275 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (95,508 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,562) Business Verdict (16) Columnists (683) Complaints & Requests (89) Enterprise & Opportunities (153) Entertainment (322) Features (444) Global Business Monitor (151) International (1,378) Interviews (122) Live Commentary (28) Love Matters (54) News (24,710) Opinion (719) Pidgin (8) Politics (3,700) Religion (533) Sports (1,265) Stock Watch (18) AMA & Al Jazeera Global Update

 

Words on marble

 

UBA Wise Savers Promo

 

Machester United vs Ajax

 

APO Newsbreak logo

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!