MTN. (Duncan Alfreds, Fin24)
Cape Town - The Rwanda Utilities Regulatory Authority fined mobile network provider, MTN [JSE:MTN] R111.5m ($8.5m) over non-compliance with licence obligations.
The fine relates to directives issued by the regulator prohibiting the inclusion of MTN Rwanda in the MTN South and East Africa (SEA) IT hub based in Uganda.
“MTN has been engaging with the regulator on this matter over the past four months. MTN Rwanda is currently studying the official notification and will continue to engage with the regulator on this matter,” the company said.
Late last year, MTN suffered its first-ever loss after the local operator paid R3.8bn in ‘good faith’ to Nigeria in a settlement bid after Nigeria’s regulator initially slapped MTN with a $1bn (R13.11bn) fine and threatened to disconnect 4.5 million customers for missing a deadline to cut off unregistered subscribers.
MTN is the continent's biggest mobile network as it operates across 22 countries in Africa and the Middle East.