The Nation Newspaper

Tag: South Africa

  • Zuma moves to mend fences with Nigeria

    Zuma moves to mend fences with Nigeria

    South Africa’s testy relationship with Nigeria has come into sharp focus with President Jacob Zuma’s official two-day visit to the West African country which ends later on Wednesday.

    Zuma’s visit comes in the wake of the debacle surrounding South African telecommunications giant MTN which faces a multi-billion-dollar fine imposed by the Nigerian Communications Regulator.

    This is after MTN failed to meet a deadline to disconnect 5.1 million unregistered subscribers to enable the Nigerian authorities to improve security.

    The initial fine was reduced by 25 per cent to 3.9 billion dollars in December.

    President Muhammadu Buhari on Tuesday fuelled the inferno when he accused MTN of increasing the Boko Haram threat in north-east Nigeria by failing to disconnect unregistered users.

    Buhari told a joint news conference that the concern of the federal government “was basically on the security, not the fine imposed on MTN”.

    In an interesting twist, the Nigerian media is speculating that Pretoria has set its sights on Boko Haram, and will be helping Abuja in its efforts to combat the Islamist militant group.

    According to the report, Nigeria and South Africa are to collaborate on war on terror.

    This followed a press briefing delivered by Nigerian Defence Minister Dan Ali after a meeting with his South African counterpart Nosiviwe Mapisa-Nquakula on Tuesday.

    However, political analyst Simon Allison suggests that any collaboration between Africa’s two power houses is fraught with political, diplomatic, legal and financial difficulties that would make it very difficult to implement.

    Writing in the Johannesburg-based Daily Maverick, Allison said there is a very low chance South African special forces will be involved directly in fighting against Boko Haram.
    “In other words, no matter what the Nigerian media might be saying, South Africa is not joining a war.

    Even a deployment of South African special forces as trainers seems unlikely, given the personnel and resource constraints under which the South African National Defence Force is operating,”he added.

    Zuma, who is accompanied by 30 business leaders and seven Cabinet Ministers, said South Africa and Nigeria have signed over 30 bilateral agreements and memoranda of understanding in areas including trade, industry, security and immigration.

    Zuma used his platform to note that from the mid-1970s‚ Nigeria hosted some of the exiled freedom fighters from South Africa‚ with numbers increasing after the Soweto Student Uprising in 1976.

    He said the 40th anniversary of that uprising is being commemorated in South Africa as Nigeria marks 40 years since, “the passing of one of the illustrious sons of Nigeria and Africa‚ General Murtala Mohammed”.

    “His tenure only lasted 200 days but it had a profound impact‚ particularly on the struggle against apartheid and colonialism in Southern Africa‚” said Zuma.

     

  • South Africa plans 9,600MW nuclear power

    South Africa is planning a proposal by the end of the month to add 9,600 megawatts of nuclear power to the national grid, a senior energy official said on Wednesday.

    Thabane Zulu, director general at the Department of Energy, told reporters in Cape Town that the discussions were ongoing with the Treasury about the costs of the plants.

    But analysts have estimated it could cost more than $100 billion.

  • MTN contributed to high Boko Haram casualties- Buhari

    MTN contributed to high Boko Haram casualties- Buhari

    President Muhammadu Buhari on Tuesday said that the slow registration of Nigerians on the MTN lines by the service providers contributed to  the  killing of at least 10, 000 innocent Nigerians by the insurgents, Boko Haram.

    He made the remark during a joint press conference after holding closed door meeting with South African President, Jacob Zuma at the Presidential Villa, Abuja.

    According to him, the concern of the Federal Government was purely security and not the fine imposed on MTN.

    Answering questions on Tuesday, Buhari said: “This is the first time I will be personally as a president  making a public comment about it. The concern of the federal government is basically on the security and not the fine imposed on MTN.

    “You know how the unregistered GSM are being used by terrorists. And between 2009 and today, at least 10,000 Nigerians were killed by Boko Haram.

    “That was why NCC asked MTN, Glo and the rest of them to register GSM. Unfortunately, MTN was very, very slow and contributed to the casualties,” he added.

  • 2016 ITF/CAT AFRICAN JUNIOR CHAMPIONSHIPS: South Africa embassy denies Nigerian players visas

    2016 ITF/CAT AFRICAN JUNIOR CHAMPIONSHIPS: South Africa embassy denies Nigerian players visas

    Five out of six Team Nigeria players were on Friday denied visas by the South African embassy in Abuja.

    A seven-man Team Nigeria comprising six players and a coach were seeking for visa to participate in the forthcoming ITF/CAT African Junior Championship holding from March 9-18 in Pretoria, South Africa.

    But only one player, Marylove Edwards and coach Mohammed Ubale were granted visa while the other five players were rejected.

    Those that were denied visas are Angel McLeod, Christopher Itodo, Christopher Bulus, Gabriel Friday and Michael Osewa.

    The team is scheduled to travel today but the latest development is a huge setback for its quest to excel at the tournament.

    National Junior Tennis Head coach, Mohammed Ubale expressed frustration at the development saying it’s a big blow to the country’s preparation.

    “The South African Embassy took us by surprise this morning (Friday) by denying five out of the six players that are going for the AJC.

    “We have submitted our passports since ten days ago and they keep requesting for one thing or the other which we presented to them before they gave us appointment to come and collect it today (Friday) which was why we fixed our departure for Saturday (today) because our plan was to travel earlier,” Ubale, who alongside Marylove Edwards were the only two of the seven-man contingent that were granted visas for the tournament billed for the ITF High Performance Centre, Pretoria, said.

    He added: “What annoyed me mostly is the fact that why would you grant visas to just two of us when we are all covered by one letter which the organisers sent to them in the course of seeking clarifications.”

    NTF president, Engr Sani Ndanusa as at Friday afternoon was making efforts to make sure that the whole team were eventually granted visas as he made several calls to the International Tennis Federation headquarters in London as well as the Confederation of African Tennis in Tunis for intervention.

    “It’s very frustrating because virtually all the countries were scheduled to arrive the venue on Saturday but from what is on ground the earliest we can be in South Africa is Monday. The most annoying part of it is that all the players have travelled several times to various parts of the continent and even beyond for tournaments,” he said.

  • South Africa’s MTN expects ‘reasonable’ Nigerian fine — Sources

    South Africa’s MTN expects ‘reasonable’ Nigerian fine — Sources

    South African telecoms firm MTN Group could end up paying a “reasonable” amount following talks with Nigerian officials over a disputed $3.9 billion fine for failing to disconnect unregistered SIM card users, two sources familiar with the matter said yesterday.

    A court in Lagos last month gave both parties until March 18 to reach a settlement, after MTN in December had asked the court to arbitrate over the dispute, saying the Nigerian Communications Commission had no legal grounds to order the fine.

    The telecoms firm was initially handed a $5.2 billion penalty in October, prompting weeks of lobbying that led to a 25 percent reduction by the NCC.

    At the time an NCC source said its decision was based on advice from Department of State Security (DSS) which suspected unregistered SIM cards were being used for criminal activity.

    It had originally asked MTN to disconnect between 10 and 18.6 million users but MTN told the regulator it had 5.2 million unregistered users on its network, the source said.

    The original amount was based on fining the company $1,000 for every unregistered SIM card in use.

    MTN has said the revised fine of $3.9 billion is still too high, equating to more than twice MTN’s annual average capital expenditure over the past five years.

    Sources said yesterday that talks were bearing fruit.

    “There’s growing understanding within the NCC that the fine should be commercially reasonable,” a source close to the matter said.

    Another source said a further reduction from $3.9 billion was a “possibility” because “the tone of the NCC is not combative any more.”

    MTN’s spokesman Chris Maroleng said his company, which makes 37 percent of its sales in Nigeria, expected the talks with the NCC to lead to an “amicable resolution.”

    MTN has hired former U.S. attorney general Eric Holder, who was one of President Barack Obama’s longest-serving cabinet members, to help with the matter.

    “There remains some uncertainty as to the final quantum (amount) of the Nigerian fine, should-an-out of court settlement be reached,” MTN said in trading statement that warned of a drop in full-year profits on Thursday.

    MTN’s regulatory and operational uncertainties in Nigeria sent shares in the company plummeting.

    By 1321 GMT, shares in the company had fallen 18.8 percent to 124.80 rand, on course for its biggest daily percentage decline in 18 years.

    The company said on Thursday its profit last year fell by at least 20 percent due to an underperformance in Nigeria, triggering a selling frenzy in its share price. MTN said the profit warning did not include the penalty.

    Nigeria has been trying to halt the widespread use of unregistered SIM cards amid worries they are being used for criminal activity, including by the Islamist group Boko Haram.

  • Pistorius applies for bail after murder conviction

    Pistorius applies for bail after murder conviction

    South African Paralympic gold medallist Oscar Pistorius on Tuesday appeared in court to apply for bail following his conviction for murdering his girlfriend Reeva Steenkamp.

    Pistorius, known as “Blade Runner” because of the carbon fibre prosthetic blades he used to race, faces a minimum 15-year jail sentence.

    The Supreme Court on December 3 upgraded the 29-year-old athlete’s sentence to murder from “culpable homicide”, South Africa’s equivalent of manslaughter, for which he had received a five-year sentence.

    Pistorius was released from jail on Oct. 19 and had been meant to serve the rest of that five-year sentence under house arrest at his uncle’s house in a wealthy suburb of the capital Pretoria.

  • Regenesys ranks top five in South Africa

    PMR Africa has ranked Regenesys Business School as one of the top five business schools in South Africa. The independent PMR survey accredits business schools and rates the perception of employers and employees regarding the MBA offering.

    Regenesys was rated on a mean score of 7.85 out of a possible 10.00 and ranked fourth overall. The survey was conducted from May to July 2015 among human resource managers, directors and line managers from corporate companies, national, provincial and local government departments, municipalities and state-owned enterprises.

    The ratings are based on respondents, who rate MBA/MBL graduates and students on 19 attributes or criteria, including application of knowledge in the workplace, emotional intelligence, entrepreneurial skills, financial management, innovation, leadership qualities and strategic management.

    “This is a phenomenal achievement for us as a private business school,” Siegie Brownlee, the CEO of Regenesys said.

    “This ranking not only reaffirms the credibility and quality of the Regenesys Business School qualifications as products of this business school, but also awakens the market to the pedigree and depth of the Regenesys graduates,” Regenesys MBA graduate Pule Molebeledi, investor relations and communications executive for Harith, commented.

    Within three years, Regenesys rose from 11th position to fourth best in the ranking. Other business schools that participated include the University of Stellenbosch Business School (ranked 1), GIBS (ranked 2), the University of Cape Town Graduate School of Business (ranked 5) and the University of Witwatersrand Business School (ranked 11).

    Started 17 years ago, Regenesys has grown business operations at home and expanded to other countries – with a solid foothold in Nigeria and bustling business burgeoning in India. The business school is attracting students worldwide to study online or in South Africa.

    “We are working tirelessly towards our 2020 vision of being a leading global business school by providing a high quality, customer-centric educational experience intertwined with a high-tech, and blended learning approach,” Ms. Brownlee said.

    “We are very pleased with the result. It is a testament that we are offering sterling education. The work we aspire to do is ensuring we remain relevant to our clients and speak to the needs of industry through our curriculum,” said Dean of the Regenesys Business School, Prof Krishna Govender,

     

  • South Africa ‘concerned about MTN fine in Nigeria’

    South Africa ‘concerned about MTN fine in Nigeria’

    South Africa has expressed concern over a N1.04 trillion ($5.2 billion) imposed by Nigerian authorities on MTN Group.

    However, the country said it would not affect the cordial relations between the continent’s two biggest economies, a cabinet minister said yesterday.

    South African Minister in the Presidency Jeff Radebe said: “Obviously as government we are concerned.’’ He said the cabinet hoped that the talks between MTN and Nigerian authorities on the fine would bear fruits.

  • Trading in MTN shares suspended in South Africa

    Trading in MTN shares suspended in South Africa

    The South African bourse yesteday suspended trading in the shares of telecoms firm MTN , a senior official said, a week after the Nigerian Communications Commission (NCC) slammed an unprecedented N1.04 trillion ($5.2 billion) fine on the telecom operator.

    “Yes, trading in MTN shares has been suspended and the information was broadcast across the trading platform,” said Peter Redman of the exchange’s surveillance department.

    MTN was fined last week by Nigerian regulator for failure to cut off unregistered users.

    MTN is Africa’s biggest phone operator, and derives its largest (a third) earnings from Nigeria.

    It has 5.1 million unregistered or incomplete subscribers in Nigeria.

    The NCC had in August directed mobile telecoms companies to deactivate all unregistered SIM cards or face severe sanctions.

    MTN missed the deadline to deactivate its 5.1 million unregistered subscribers, prompting a N200,000 ($1,000) fine for each unregistered SIM.

    MTN’s shares fell sharply shortly after the fine last week, closing 12.49 per cent lower at 167 rand — the lowest in several years.

    The firm has up to November 16 to pay the fine, the NCC said

  • South African bank raises N50b for property development in Nigeria, others

    FirstRand Bank Ltd said the property unit of its investment banking arm has raised $203 million (about N50billion) for its Real Estate Development Fund (REDF) aimed at developing real estate assets in Nigeria and other West African countries.

    Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, is a leading South African corporate and investment bank and part of one of the largest financial services groups in Africa.

    Aside Nigeria, RMB Westport is also looking at Ghana and Angola as key jurisdictions in which to develop retail and commercial property going forward.

    Commenting on the development, Director of RMB Westport, Michael O’Malley, said: “We believe in the African growth story. Over the past decade‚ African economic output has more than tripled‚ which is one of the many reasons we think that Africa today holds the greatest overall investment potential for all frontier markets globally.”

    RMB Westport opened its doors in 2008 when Rand Merchant Bank (RMB)‚ through its Real Estate Investment Banking division entered into a joint venture with the Westport Property Group to combine west African property development skills‚ capital and investing expertise to enable the construction and development of high-grade retail‚ commercial and industrial property assets in key growth nodes of sub-Saharan Africa.

    According to Africa Property News, an increasing proportion of Africa’s population is moving into urban areas as economic growth quickens, with houses and malls being built in major cities including Accra, Abuja and Luanda, the capitals of Ghana, Nigeria and Angola respectively.

    O’Malley who has spent the past 20 years working on retail and mixed-use projects in 12 African countries, says the discovery of oil in Ghana will likely lead to a further increase in investor interest and subsequent demand for office and industrial space.

    RMB Westport is no newcomer to Africa. Some of RMB Westport’s biggest projects (at various levels of completion) include: Icon House and Accra Financial Centre (A-grade buildings in Ghana); Ikeja City Mall (the largest shopping mall in Nigeria); Osapa Retail (Phase I) and Project Wings (Office and retail property in Nigeria) and recently the Junction Shopping Centre (retail property in Accra‚ Ghana).