Is MTN Nigeria's Nightmare Over? (feat. Charles Murray)

Published: June 13, 2016, 4:57 a.m.

b"On Friday, June 10th 2016 MTN\\u2019s stock price on the Johannesburg Stock Exchange jumped by 20%. This happened in the wake of the news that the firm\\u2019s nine-month Nigerian nightmare might finally be coming to an end.\\n\\nMTN has reportedly struck a deal with the Nigerian government, and is set to pay the Nigerian Communications Commission (NCC) $1.7 billion over three years\\u2014 significantly less than the $5.2 billion they were initially fined for flouting SIM card registration regulations months ago. \\n\\nWhile MTN\\u2019s shareholders are no doubt breathing a sigh of relief, the company is not out of the woods yet, as according to the NCC, one of the conditions linked to the monetary settlement is the requirement that MTN list its Nigerian subsidiary on the Nigerian Stock Exchange \\u201cas soon as is commercially and legally possible\\u201d.\\n\\nWhile the jury\\u2019s still out on whether this is the last we\\u2019ll hear of this story, one thing is certain, this case sets one heck of a precedent, and that can only bode well for corporate Africa.\\n\\nAlso in this week's African Tech Round-up, we feature part of a conversation Andile Masuku had with Charles Murray-- who is a director of the messaging and internet calling app, ttrumpet. \\n\\nListen in to hear Charles talking about why he reckons ttrumpet isn\\u2019t just another mobile app, and sharing some of the pressures and perks of growing a startup that is a subsidiary of relatively successful tech group (Fastcomm) backed by one of the continent\\u2019s wealthiest entrepreneurs, Patrice Motsepe.\\n\\nMusic Credits:\\nMusic by Kevin MacLeod (incompetech.com)\\nMusic licensed under Creative Commons: By Attribution 3.0"