MTN has reassured investors that the crackdown by Nigerian authorities on unregistered phone lines will not have a huge adverse impact on its finances. This comes after, Nigerian authorities ordered cellphone companies to bar outgoing calls from phone numbers not linked to ID numbers.
The new SIM rules are aimed at improving security, governance, and service delivery in the country.
MTN shares closed almost 8-percent down on the JSE on Tuesday but regained some lost ground in Wednesday morning’s trade as investors took flight after the decision by the Nigerian Communications Commission.
MTN says complying with the directive would mean that 20 million people in the country are placed on, are receive only status.
Source: eNCA
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