Vodacom Tanzania disconnects 157,000 subscribers

SIM trouble
in Tanzania

Operator moves on
regulator's directive.

Friday, Jan 24th

MTN CEO Sifiso Dabengwa resigns

MTN CEO Sifiso Dabengwa resigns.

MTN CEO Sifiso Dabengwa has resigned with immediate effect following ongoing troubles for the company over a $5.2 billion (R73.6 billion) fine in Nigeria. The telco made the announcement of Dabengwa's exit to the market early this morning.

"Due to the most unfortunate prevailing circumstances occurring at MTN Nigeria, I, in the interest of the Company and its shareholders, have tendered my resignation with immediate effect," stated Dabengwa in a SENS announcement this morning.

Dabengwa has been MTN CEO since March 2011 but leaves as the telco continues to try to negotiate itself out of a record fine in Nigeria for failing to disconnect over five million customers with unregistered SIM cards.

Phuthuma Nhleko, the current non-executive chairman, will take over as executive chairman for a maximum period of 6 months while the company looks for Dabengwa's successor.

Nhleko served as non-executive director and chairman of MTN from July 2001 until June 2002 and afterwards as an executive director, group president and CEO until March 2011. He has since chaired the Group in a non-executive capacity for the past two and a half years.

"I will assume responsibility as Executive Chairman for the next 6 months as I proactively deal with the Nigerian regulator and will continue to work with them in addressing the issues around unregistered subscribers as a matter of urgency," says Nhleko.

Alan van Biljon will continue to serve as the lead independent director on the MTN board of directors as Nhleko takes over executive responsibility.

"Together with the MTN Board, my second priority will be to find an appropriate Chief Executive Officer to take MTN forward. I will then revert to my Non-executive Chairman role," adds Nhleko.

The company says its engagement with the Nigerian authorities on the Nigerian Communications Commission (NCC) fine is continuing and "shareholders will be advised as soon as there are any material developments on this matter."

"Shareholders are advised to continue to exercise caution when dealing in the Company's securities until a further announcement is made."

ALSO ON ITWEB AFRICA

Zimbabwe launches first computer plant Published on 20 January 2020

Project is a joint venture between TelOne and Chinese firm Inspur.

Africa's chance to shine at UK-Africa Summit 2020 Published on 23 January 2020

Twenty-one heads of state from the continent are expected at the investment-focused event on 20 January 2020.

First Distribution appointed as the strategic pan-African distributor for ExaGrid Published on 21 January 2020

First Distribution is proud to announce that it has been appointed as the Strategic Pan-African Distributor for ExaGrid®.

2020 Risk outlook: Use GRC to build resilience Published on 14 January 2020

ContinuitySA says that as the risk outlook continues to be challenging, organisations should use their governance, risk and compliance (GRC) activities to create robust frameworks that support business resilience.