MTN secret out

tomatosarefruit said:
Lol - I suppose you think the same of the hospital and medical aid bunch... no-one is holding a gun to your head, you can go to a public hospital...

These personal wealth figures in the hundreds of millions just proves that they have managed to grab us by the short and curly's and milk us for the max. They should realize the responsibility they have in providing what has become an essential service. However, greed is the order of the day.

Let's see you try making a living without a cellphone... even a dirt poor vegetable hawker needs one to operate. Did you know that for 9 years, MTN enjoyed a lucrative monopoly in Rwanda where landlines are scarce and they are HEAVY users? They only started getting off their fat backsides when Terracom came to town... indeed why should they if they can get government favours like dear telkom. You might think Telkom are doing the right thing too, but I don't.

Capitalism, communism, socialism, other-isms... they all fail when people get greedy.
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The company is headquartered in Kigali and its principal competitor in Rwanda is Rwandatel.

Rwandatel is headquartered in Kigali. The company's primary competitor in Rwanda is Terracom.

Did not see MTN mentioned there so how could they have had a monopoly or controlled the market in rwanda ?

Rwanda has now the privelage of uncapped internet at around 300rand per month. From MTN - which is a lot cheaper than any of our south african corporations are giving us..
 
ryan411 said:
How is this MTN's best kept secret? :confused:

When did he sell them? And why did he sell them if he was gonna buy 1 million in November and 1 million last week??? :confused:

Is this article perhaps just an advert to buy MTN shares?
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his options will have been struck at a certain price. So 3 years ago (as an example) the remuneration committee would have awarded him an option to sell say 2m shares at x price in December 2008 (or whenever he sold). However come Dec 2008, the share price is likely below x. So by selling what he did he makes a profit. And maybe needed that amount because he financed things against the shares (I am guessing).

But if the share price is below x, and he believes in the future of MTN, it then makes sense for him to buy more shares in the company as he believes he can sell them at a later stage at a higher price. he could be wrong. or right.
 
a post of mine may heave gone missing. let me express it in softer terms:

- some here cry about his wealth as a result of the MTN shares as BEE
- they disregard his record as MTN CEO and how he has made MTN a well rated company (before him Zim Lazarus)
- There are non-black CEOs with shares who could also milk great amounts. Will we find another excuse to villify them when BEE doesn't work?
 
*off topic*nothing wrong with a good dose of capatilistic system, but having BEE in your economy nullifies it as truely an open market
 
What is really pissing me off is the fact that they label Newshelf as a BEE deal. I'm one of those 2400 Staff and I'm not Black :( It was an Employee scheme to own a share of MTN. Given that MTN's quota on staff numbers are 100% BEE it still does include all staff who participated in this scheme, it's not a black only share scheme.

But that aside, I'm glad I have a few MTN shares, especially this time round :)
 
aadil said:
Actually it has nothing to do with BEE. If you were raising the issue of corporate bonuses for executives, we might give some credence to your views but since you ignorantly assumed it was the BEE, I must take your post as a racist rant.
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Oh and BEE isn't racist?
 
Qwikslver said:
Oh and BEE isn't racist?
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You did not read his post in the correct context ;)

And no, the Newshelf deal is not BEE sure MTN has the correct equity numbers and all staff benefitted from the newshelf scheme. Which now gives the reporters something to drag along to make a quick sell :rolleyes:
 
Tweak said:
Rwanda has now the privelage of uncapped internet at around 300rand per month. From MTN - which is a lot cheaper than any of our south african corporations are giving us..
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LOL.

Explain please. I was in Kigali a while ago for a couple of days delivering routers and we had a man on the ground for 6 months installing wireless networks in anticipation of the fiber coming this year.

This is the first I hear of uncapped internet for R300 from MTN in Rwanda, unless you are perhaps referring to GPRS speeds?
 
Tweak said:
The company is headquartered in Kigali and its principal competitor in Rwanda is Rwandatel.

Rwandatel is headquartered in Kigali. The company's primary competitor in Rwanda is Terracom.

Did not see MTN mentioned there so how could they have had a monopoly or controlled the market in rwanda ?

Rwanda has now the privelage of uncapped internet at around 300rand per month. From MTN - which is a lot cheaper than any of our south african corporations are giving us..
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Google Rwandacell = MTN:
http://www.google.co.za/search?q=rw...s=org.mozilla:en-US:official&client=firefox-a

Rwandatel = Terracom... read here:
http://www.cn-c114.net/582/a306631.html
But MTN''s days of being a monopoly player in Rwanda are numbered. Last month Terracom, a private firm, took over Rwandatel - the provider of Rwanda''s fixed lines at a cost of $20 million.
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And a more recent article:
http://www.itnewsafrica.com/?p=1295
MTN Rwanda operates almost as a monopoly enjoying over 90 percent market share within Rwanda.
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And the reason MTN is offering uncapped internet (at dog slow speeds with intermittent connectivity mind you) is because of Terracom... not because of MTN.
They had 9 years monopoly in which they didn't offer it. Don't forget that Rwanda is Africa's most densely populated country and they rely on cell comms far more than most because of the difficult geographic issues.
 
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In 2005, MTN executive directors established a holding company that held 18.7% of MTN on behalf of 2400 black managers and staff. The shareholding is now 13.1%, worth R24-billion.

R24,000,000,000.00 / 2,400 employees = R10,000,000.00 average share for each employee...

My God.
 
Terracom laid down the fibre which only a fixed line provider could have done, mtn as a mobile communications provider wouldn't have had the right to develop the country's IT backbone unless they themselves bought up RwandaTel.

Strangely MTN isn't the only communications provider seeking to profit within africa; VodafoneUK, Orange and other European telecomunications giants have each selected third world countries and then buy out their leading cellular companies... Same as in southern Africa where eg. Vodafone bought up Vodacom or Orange mobile taking Botswana Mobile.

I think mtn is doing a good job of stimulating competition on the continent, since these european companies wouldn't be looking to compete amoungst themselves.
 
I want to see his tax return!!!!!!!!!

Somehow I doubt he "contributed" to SARS kitty on collecting the profits of his "investment".
 
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Bounce said:
In 2005, MTN executive directors established a holding company that held 18.7% of MTN on behalf of 2400 black managers and staff. The shareholding is now 13.1%, worth R24-billion.

R24,000,000,000.00 / 2,400 employees = R10,000,000.00 average share for each employee...

My God.
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I know it sounds amazing when you say it like that, but then again you have to remember this:

He [Phuthuma Nhleko] will be receiving about R300-million when the Newshelf [BEE] entity is wound down
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Pitbull said:
What is really pissing me off is the fact that they label Newshelf as a BEE deal. I'm one of those 2400 Staff and I'm not Black :( It was an Employee scheme to own a share of MTN. Given that MTN's quota on staff numbers are 100% BEE it still does include all staff who participated in this scheme, it's not a black only share scheme.

But that aside, I'm glad I have a few MTN shares, especially this time round :)
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Agreed lol i aint black either:p
 
C'mon guys.......Why ur'll being nasty......He deserves all he has, and all he's going to get. At least he was generous enough to share the good fortunes with 2399 other staff, which I think is an amazing accomplishment. Is there any other director that has done something like this, especially considering the size of the payouts, I don't think so.
To all the guys whose ****** off by BEE, this was not a BLACK EE deal, it included all races, sexes....etc. Is this not what you want? You guys need to get ur heads checked.

:rolleyes:
 
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