BUSINESS UPDATES
MTN CEO resigned in the wake of Nigeria fine scandal.
Sufiso Dabengwa has resigned over the weekend after consaltation with the board amid to a whooping $5.2 billion (R70.56 billion) fine by Nigeria Regulators. Two weeks ago, MTN failed to disconnect subscribers with unregistered and incomplete SIM cards.
He is been temporarily replaced by non-executive Chairman Phuthuma Nhleko.
Nhleko to act for maximum of 6 months while MTN identifies successor to Dabengwa. Currently, Nigerian Authorities are in talks with MTN over the fine, which is due on November 6.
Sufiso Dabengwa has resigned over the weekend after consaltation with the board amid to a whooping $5.2 billion (R70.56 billion) fine by Nigeria Regulators. Two weeks ago, MTN failed to disconnect subscribers with unregistered and incomplete SIM cards.
He is been temporarily replaced by non-executive Chairman Phuthuma Nhleko.
Nhleko to act for maximum of 6 months while MTN identifies successor to Dabengwa. Currently, Nigerian Authorities are in talks with MTN over the fine, which is due on November 6.
*Nigeria is MTN biggest market in Africa, followed by South Africa.
Ex CEO- Sifiso Dabengwa
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