time, Africa’s biggest mobile phone operator MTN Group Ltd cut investor payouts
by almost 50 per cent as it reported its first-ever half-yearly loss on Friday.
blow unethically thrown at them from a hefty regulatory fine in Nigeria.
agreement to pay a record N330 billion ($1 billion) fine in Nigeria, the
company’s largest market. The penalty was levied in October after MTN missed a
deadline to disconnect unregistered subscribers, and the subsequent loss of
customers further hurt operations in the country.
wiped 10.5 billion rand ($768 million) from their headline earnings, South
Africa’s main measure of profit.
currency swings, underperformance in its home market and in Nigeria where it
had to cut off another 4.5 million SIM cards to comply with local registration
one seconds to say a word of prayer for MTN Telecom company.