MTN: Nigeria Shouldn’t Send Wrong Signals To Investors, Says S’Africa Ports Boss

mtnThe President of Durban Chamber of Commerce and Industry, (DCCI), South Africa, Zeph Ndlovu, has urged the Nigerian government not to send wrong signals to investors, saying glitches that may arise in relating with foreign businesses should be seen as opportunity to improve ties.

Ndlovu, who is also the General Manager, Risk and Corporate Affairs of state-owned Transnet Port Terminals, said this in an interview with The Guardian during the Intermodal Africa Conference in Lagos, in reaction to the N1.04trn fine slammed on Telecommunication Company, MTN, as well as, regulatory scuttles over remittance of funds for usage of banking software to the South African partner of Nigeria’s Stanbic IBTC Bank, Standard Bank.

It would be recalled that telecommunications industry regulator, Nigeria Communications Commission (NCC), for defaulting on agreements to disconnect unregistered lines, heavily fined MTN. The fine caused ripples in the business community, with state governors backing the NCC, and financial analysts divided over the severity of the sanction.

According to Ndlovu, every host country and companies that come in to invest in its territory agree to obey the rules of the land, but the relationship is more about making sure that there is economic growth. He added that both companies “are here to offer services that are highly sought after, any glitches that come through, lets look at them as opportunities to improve.”

He said, “We need to give impetus to economic activity. I am sure Nigeria won’t like to throw that economic benefit away as it were. We need to find each other.”

Noting that it was important that the host country and investors work together for the economic benefit of businessmen, he advocated that the matter be resolved as speedily as possible and in the most amicable way possible.



1 Comment
  • amador kester

    This gentleman made no sense here. Hear the oracle from south africa as i paraphrase : “every company agrees to obey the rules of the land where it invests but the relationship is more about economic growth!” In other words all is fair as long as no means are deemed too dangerous to justify the end? In other words mtn can sell fake sim cards to insurgents,kidnappers,bandits etc as long as its balance sheets keep reading positive.. Where did this man acquire his knowledge of economic strategy? University of pretoria? Will they ever allow any nigerian firm in pretoria or johannesburg to undermine the regulatory mechanism, even security? Didnt they quickly seize the millions of dollars for arms purchase by the spineless jonathan? These people are not repentant and could wreak even much more havoc.Silence could harbinger penitential intentions But south africans are talking louder and louder without qualms. Lets see how mr president can tell these companies : go free,, your sins are pardoned or mitigated. That will spell the end of regulatory sanity in nigeria

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