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MTN Group shares fell more than 15% on Monday, to their lowest levels in nearly 14 years, as investors digested the news of a shock fall in oil prices overnight. Also possibly weighing on sentiment was news that the group is at risk of having its debt downgraded by rating agency S&P Global Ratings, also because...

South Africa-based multinational mobile operator Vodacom Group’s consolidated revenue for its fiscal third quarter ending 31 December 2019 increased 6.6% year-on-year to ZAR23.626 billion (USD1.58 billion), supported by consolidated service revenue growth of 5.7% to ZAR18.899 billion. The African carrier added a net 484,000 mobile subscribers in its home market in October-December 2019, augmented by...

THE Zimbabwe Anti-Corruption Commission (ZACC) Monday announced it had opened investigations into Econet’s mobile money transfer subsidiary, Ecocash. This follows an outcry by the public over the exorbitant fees charged by Ecocash agents when withdrawing money through the mobile wallet. Ecocash agents now sell hard cash at premiums as high as 50% and 60% from...