Johannesburg-based MTN Group Limited said it is selling off Mascom Wireless Botswana (Pty) Ltd. Mascom Wireless is its local unit in Botswana where it currently holds 53% of the company’s total equity. In its latest disclosure, the group said: Pursuant to the portfolio review MTN’s 53% shareholding in Mascom Wireless […]
South Africa’s Naspers Limited has finally cut-off Multichoice from its business with the listing of the payTV company on the Johannesburg Stock Exchange, JSE. Multichoice is the largest payTV company in Africa with major brands such as DSTV, GoTV, SuperSport, MNeT, Africa Magic and ShowMax, its online streaming business. Listed […]
The government of Uganda has deported MTN Chief Executive Officer Wim Vanhelleputte, a Belgian. According to Kenya’s Nation.co.ke, the deportation was communicated in a letter signed by Internal Affairs Minister Jeje Odongo on Thursday, the MTN Uganda boss is to stay outside Uganda indefinitely. The news website reported that Police […]
Africa’s largest retailer, Shoprite Holdings said it has appointed Sanjeev Raghubir as its group sustainability manager. The company said in a statement that Sanjeev Raghubir will be responsible for establishing a comprehensive sustainability strategy for the Group, which will also strengthen its ability to reduce its reliance on natural resources, […]
Africa’s largest investment fund, Public Investment Corporation of South Africa, PIC, has been thrown into crisis as a shattering scandal threatens to tear the company apart. In the midst of a rising financial scandal, Chairman of PIC, Chairman Gungubele has just led nine board of director members to resign. The […]
South Africa’s MTN Group Limited might have finally resolved the illegal transfer sanction dispute it had with the Nigerian government. According to a Twitter post by MTN Group, the company said it has made a down payment of $53 million which is approximately N19.3 billion using real-time exchange rate. The […]
Grand Parade Investments Limited said its chief executive officer, Ms Prabashinee Moodley, has resigned as chief executive officer. She is also stepping down as an executive director of GPI, with effect from Friday, 7 December 2018. The company said in a statement that Given Ms. Moodley?s passion and expertise in […]
Transnet SOC Ltd., South Africa’s public utility company said it has appointed Mr. Tau Morwe as the acting chief executive officer of the company. The company said his appointment is for a period from 1st November 2018 to 30th April 2019. He will also serve as a member of the […]
South Africa’s Ellies Holding Limited said Ian Russell has been appointed as an independent non-executive director of the company, with effect from 1 October 2018. He was also appointed as a member of the audit and risk committee as well as a member and chairman of the remuneration committee and […]
Despite the latest directive for MTN to return $8.1 billion back to Nigeria, MTN Nigeria has been entangled in yet another regulatory confrontation. NIgeria has now ordered MTN’s local unit in the company to pay $2 billion as unpaid tax arrears. MTN said in a short statement that its Nigeria’s […]