Can MTN’s new Executive Chair save the company?

MTN’s CEO Sifiso Dabengwa is out. Newly (re)appointed Executive Chairman of the MTN Group Phuthuma Nhleko is in.

Nhleko previously served as group CEO and is credited with growing MTN's subscriber base from 5 million to 160 million during his tenure.

Can Nhleko rescue the company and negotiate a solution to a massive fine in Nigeria?

The Money Show’s Bruce Whitfield interviewed Nhleko.

Scroll down for quotes from the audio below.

Dabengwa had a say in his departure. He decided to do the honourable thing.

Phuthuma Nhleko, MTN

We don’t want to negotiate through the media.

Phuthuma Nhleko, MTN

I can’t answer whether or not we knew about this.

Phuthuma Nhleko, MTN

I am quite confident that this situation won’t be permanent.

Phuthuma Nhleko, MTN

We need to go into other African countries. That’s our business model. It has some risks, but overall it has served our shareholders well.

Phuthuma Nhleko, MTN

The problem in Nigeria is regulatory; I accept that.

Phuthuma Nhleko, MTN

I don’t think we’re vulnerable to predatory investors. MTN is still a sizeable company. MTN’s culture, capacity and capability is not easily transferable.

Phuthuma Nhleko, MTN

I can’t say whether we’ll pay the whole fine. I don’t want to negotiate with Nigerian regulators on a public forum.

Phuthuma Nhleko, MTN

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Can MTN’s new Executive Chair save the company?


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
How to get rich… MTN, VW flies too close to the sun… Water is the new Eskom…

How to get rich… MTN, VW flies too close to the sun… Water is the new Eskom…

These were the 7 most read, most talked about business articles of the past week.

MTN’s BEE company - MTN Zakhele – lists ordinary shares on JSE's BEE section

MTN’s BEE company - MTN Zakhele – lists ordinary shares on JSE's BEE section

We interview MTN’s Chairperson about MTN Zakhele’s listing of its ordinary shares as BEE securities on the BEE section of the JSE.

Why the JSE suspended trade in MTN’s plummeting shares (and what'll happen now)

Why the JSE suspended trade in MTN’s plummeting shares (and what'll happen now)

MTN's culture makes it unsurprising that this has happened, says First Avenue Investment Management’s Hlelo Giyose.

MTN to list ordinary shares as BEE securities on BEE segment of JSE

MTN to list ordinary shares as BEE securities on BEE segment of JSE

MTN Zakhele plans to list its ordinary shares as BEE Securities on the BEE Segment of the JSE on 5 November 2015.

Why you should buy MTN, Woolworths and Steinhoff shares

Why you should buy MTN, Woolworths and Steinhoff shares

MTN, Woolworths and Steinhoff are among the best investments on the JSE right now, says Vestact’s Michael Treherne. Here's why...

What now for strike-pummeled MTN after CEO quits due to “personal reasons”?

What now for strike-pummeled MTN after CEO quits due to “personal reasons”?

MTN’s share price is taking strain. A telecoms analyst discusses the way forward for Africa’s largest telecoms company.

Analysts agree: MTN is one of the best investments on the JSE

Analysts agree: MTN is one of the best investments on the JSE

For the second time in less than a month an analyst on The Money Show chose MTN as his stock pick of the week.

Why you should invest in Sasol, Aspen and MTN

Why you should invest in Sasol, Aspen and MTN

Clive Ramathibela-Smith, CIO at Clivera, discusses what he believes are the best investments on the JSE right now.

Popular articles
[LISTEN] 65-year-old doctor runs 200kms across Moroccan desert for birthday

[LISTEN] 65-year-old doctor runs 200kms across Moroccan desert for birthday

Aside from the muscle aches, Dr Hans Van Heerden feet also took a pounding as a result of the challenging sandy terrain.

Why many couples today are struggling with marriage

Why many couples today are struggling with marriage

Dr Eve advises that many modern couples need marriage to be a safe space for self-expression and self-actualisation.

The Big Pet Problem: Are you struggling to rent because you have pets?

The Big Pet Problem: Are you struggling to rent because you have pets?

Frustrated tenants say they're being discriminated against by landlords.

'The NPA should be ready and re-enroll the matter' - Nel on Malema prosecution

'The NPA should be ready and re-enroll the matter' - Nel on Malema prosecution

AfriForum not backing down over decision to privately prosecute Julius Malema.

Ed Dept scraps supplementary exams for matriculants

Ed Dept scraps supplementary exams for matriculants

The Department of Basic Education has announced it will do away with matric supplementary exams from 2019.

Do you feel shameful about sex?

Do you feel shameful about sex?

There are various reasons for feeling shame around sex, but it can be overcome, says sexologist Dr Marelize Swart.

Cape Town not out the woods yet even with recent rainfall

Cape Town not out the woods yet even with recent rainfall

Climate expert, Piotr Wolski, says the city will know towards the end of May whether 2018 is a good or bad year.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.