Loading...
See More

Rica cost cellphone firms millions

Jul 06 2011 16:36 Reuters

Company Data

MTN GROUP LIMITED [JSE:MTN]

Last traded 235.13
Change 0.1
% Change 0.00
Cumulative volume 6437779
Market cap 434.60bn

Last Updated: 24/10/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

VODACOM GROUP LIMITED [JSE:VOD]

Last traded 127.01
Change -1.74
% Change -0.01
Cumulative volume 667069
Market cap 188.99bn

Last Updated: 24/10/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Rica or get cut off, minister warns

Rica to avoid being cut off

Icasa: Still too many dropped cell calls

MTN urges customers to Rica simcards

Cell C swaps debt for equity

Rica dents Vodacom numbers

 

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
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
16 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...