Ntleko back to stabilize MTN!

That smile says it all. Phuthuma Ntleko is back at MTN to negotiate the hefty fine first ever to be imposed on a South African telecommunications company.

Ntleko’s acting position as executive chairman for MTN Group for six months, would be to stabilise and handle the controversial $5,2 billion fine imposed by Nigerian Comminications Commission for failing to switch off users with unregistered SIM cards.

His priority within the period of six months Phuthuma meaning ‘be quick’, would have negotiated the reduction of the hefty fine imposed by the Nigerian’s -one of MTN’s largest market.

Ntleko replaces S’fiso Dabengwa who wrote:”Due to the most unfortunate prevailing circumstances occurring at MTN Nigeria, I, in the interest of the company and its shareholders, have tendered my resignation with immediate effect,” Dabengwa said in a statement.

MTN’s largest shareholder, South Africa’s Public Investment Corporation (PIC), said on Monday it wanted to meet with Nhleko about his plans to tackle the fine and wants more staff at MTN to take responsibility for the penalty.

“A lot more people need to take collective responsibility for the fine for the alleged failure to comply with regulatory requirements,” the PIC’s chief executive Daniel Matjila said in a statement. “The board chose Nhleko because of his vast experience in Nigeria and his in depth knowledge of the company,” MTN’s spokesman Chris Maroleng said.

Recently, the telecommunication giant has been rocked by resignations of senior personnel thus questioning the apppoinments by the State and industry players’.

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