Vodacom to fight back after Lesotho revokes its operating license
Lesotho's informed Vodacom its operating license is being revoked, after the country's communications authority imposed a huge fine on the company on Monday.
Vodacom has said it will take the matter to court.
The dispute centers on allegations that the mobile operator hired an auditing firm allegedly owned by the sister-in-law of Vodacom Lesotho chairperson, Matjato Moteane.
Bruce Whitfield gets more detail from the editor of TechCentral, Duncan McLeod.
About ten days ago or so the regulatory authority issued a fine equivalent to about R134 million against Vodacom Lesotho, accusing it of various things including being in breach of corporate governance over its auditing firm.Duncan McLeod, Editor - TechCentral
The accusation is that his sister-in-law owns the auditing firm.Duncan McLeod, Editor - TechCentral
The Lesotho Communications Authority [LCA] is saying, this is not only in breach of your license conditions but in breach of the Companies Act in Lesotho... and you must pay R40 million worth of this fine immediately.Duncan McLeod, Editor - TechCentral
The remaining amount is suspended for five years provided the company "does not commit any further contraventions of its regulatory obligations" during that period.
But they've now written a letter, today, to Vodacom Lesotho saying your license has in fact been revoked.Duncan McLeod, Editor - TechCentral
The company intends to lodge an urgent high court interdict against the LCA, saying the body's own rules state that Vodacom should have been given a certain amount of time to respond.
Lesotho is Vodacom's smallest operation by subscriber numbers, McLeod says, but it is the biggest mobile operator in the country.
We know that the country is politically unstable and I do wonder whether there's something more to this in terms of the politics, and possibly business machinations going on between the political interests in the country.Duncan McLeod, Editor - TechCentral
This article first appeared on 702 : Vodacom to fight back after Lesotho revokes its operating license
It’s National Wills Week – you have until Friday (30 October) to get a professional to draw up or update your will at no charge.Read More
It is being widely reported that the service provider is shutting down, but Tech guru Brendon Petersen says it is not that clear cut.Read More
Absa’s working capital management solutions help businesses successfully manage their cashflows and working capital.Read More
Famed economist Dr Iraj Abedian talks about his book, "FutureNEXT: Reimagining Our World and Conquering Uncertainty”.Read More
The lowest and highest-paid workers in SA haven’t yet recovered from the lockdown, according to FNB's Dr Christoph Nieuwoudt.Read More
The Money Show’s Bruce Whitfield interviews Famous Brands CEO Darren Hele.Read More
Futurist Graeme Codrington and economist Dick Forslund on how a 2nd hard lockdown and a 2nd Covid wave might affect our country.Read More
Khayelitsha Development Forum chair Ndithini Thyido says 'enough is enough' to these protection rackets targeting the community.Read More
The pandemic has hastened much-needed consolidation and made clear the value of bringing supply chains closer to home.Read More
Are you always on your phone, procrastinating? There’s an app for that, says USB productivity researcher, Sam Orton.Read More
A major court case will be heard in Nigeria this week, which could test the country's laws against homosexuality.Read More
The cash-strapped country will incentivise foreigners to invest in a dagga industry that could generate R115bn per year by 2023.Read More
A class action suit holds Anglo responsible for lead poisoning from the Kabwe Mine, affecting 'generations of children'.Read More
Nigerian-born fashion designer Bubu Ogisi says her goal is to help shift perceptions about what African fashion is.Read More
Nigeria is burning. But the world is watching, and standing in solidarity with its citizens against a brutal police force.Read More
Protesters in Nigeria have vowed to keep up the pressure until authorities make concrete plans for extensive police reform in the Western African nation.Read More
Suzan Eriksson (CWB SA) talks about using laughter and play to help the children and communities who need it most.Read More
Zimbabwe’s government wants to make it a criminal offence for citizens to criticise the state or hold meetings with foreign governments without approval.Read More
There’ll be many opportunities for frontier investors in the coming years, says Absa's Somaya Joshua.Read More
There’s an inevitability to it – these commodities (such as vanadium, if the tech improves) have a bright future ahead of them.Read More