Africa Business Nigeria West Africa World 

Nigerian banks block MTN from banking channels

– – Nigerian banks have blocked MTN from their banking channels following a feud over fees charged for the service. MTN had reduced the banks’ commission from an average of 3.5 per cent to 2.5 per cent using USSD for banking services. The feud has left millions of subscribers unable to recharge their phones using the USSD services on MTN lines on Friday. The decision by the banks to shut off the telecoms firm has led to a lot of frustration for customers. MTN had advised its subscribers to seek…

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Africa Business East Africa World 

Uganda: Hackers steal billions from telcos and banks

– – Investigations have begun into an electronic fraud incident in Uganda leading to the loss of billions of shillings. Unidentified hackers broke into the systems of Pegasus Technologies, a company that integrates mobile money transactions between telcos, banks, and other local, regional, and international money transfer services to steal billions of shillings. Leading telcos, Airtel and MTN Uganda, as well as Stanbic Bank are the most affected. In a joint statement Anne Juuko, Wim Vanhelleputte, and VG Somasekhar, the CEOs of Stanbic Bank Uganda, MTN Uganda, and Airtel Uganda…

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Africa South Africa Southern Africa World 

South Africa: Vodacom, MTN ordered to lower data prices

South Africa’s Vodacom Group and MTN Group have been ordered by the country’s Competition Commission to lower data prices. The two companies could face prosecution if they do not agree with the order in the next two months to lower data prices. The watchdog launched an investigation in August 2017 following a request from the minister of economic Development. There have been several complaints from consumers about high data costs. The commission said in its report that there is evidence to suggest that there is room for price reductions in…

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