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Rica cost cellphone firms millions

Jul 06 2011 16:36 Reuters

Company Data

MTN GROUP LIMITED [JSE:MTN]

Last traded 225.10
Change 2.1
% Change 0.01
Cumulative volume 382476
Market cap 416.41bn

Last Updated: 29/07/2014 at 10:12. Prices are delayed by 15 minutes. Source: McGregor BFA

VODACOM GROUP LIMITED [JSE:VOD]

Last traded 127.16
Change 0.11
% Change 0.00
Cumulative volume 44372
Market cap 189.21bn

Last Updated: 29/07/2014 at 10:12. Prices are delayed by 15 minutes. Source: McGregor BFA

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Pretoria - South African wireless phone operators forked out more than R800m on marketing and new staff as they rushed to register customer simcards under a new law in the country, they said on Wednesday.

Under the Regulation of Interception of Communication Act (Rica), cellphone simcards had to be registered by June 30, or risk being cut off from the network.

MTN Group [JSE:MTN] and larger rival Vodacom Group [JSE:VOD] spent about R250m each on the exercise, while unlisted Cell C said it invested between R300m and R400m.

Under the new law, the government requires cellphone cards to be registered to a name and an address to make it easier to trace users in the fight against crime.

 
vodacom group  |  mtn group  |  rica
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