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