Audio By Carbonatix
South Africa will hold a long-delayed auction of 4G mobile spectrum by April as the government seeks to extend high-speed internet to a greater portion of Africa’s most industrialized economy, said Telecommunications Minister Siyabonga Cwele.
The sale is likely to attract interest from wireless carriers including Vodacom Group Ltd. and MTN Group Ltd., which have long bemoaned a lack of opportunities to expand services. An auction was delayed in previous years by a dispute between the government and the industry regulator over how to proceed.
“The auction next year will ensure continued investment by the operators, who invest 25 billion rand ($1.7 billion) a year,” Cwele said. “A block of spectrum will also be made available for new entrants into the sector.”
A spectrum auction could help reduce prices, the minister said. It would follow two years of policy uncertainty that made investors reluctant to put cash into the industry, Vodacom Chief Executive Officer Shameel Joosub said at a conference in Johannesburg.
Vodacom’s shares have declined 18 percent this year, compared with a 12 percent fall on the FTSE/JSE Africa Top40 Index.
Latest Stories
-
No one can campaign more than me – Wontumi declares readiness to unite and lead NPP
1 minute -
Permit audit step in right direction but not enough – Structural engineer
3 minutes -
‘We want power, not English lessons’ – Chairman Wontumi
13 minutes -
Kotoko appoint former Dutch goalkeeper Stanley Menzo as Technical Director
17 minutes -
Wontumi says challenges have prepared him to lead NPP to victory
27 minutes -
Police launch investigation into killing of 36-year-old man in Nkwanta South
28 minutes -
Lack of professional oversight driving recent building failures — Expert
29 minutes -
Family demands justice as military officer is remanded over civil engineer’s killing
34 minutes -
Joint Technical Committee releases preliminary findings on Madina building collapse
38 minutes -
NPP chairmanship race: Wontumi defends loyalty and experience
1 hour -
Court cases do not bar political ambition – Chairman Wontumi
1 hour -
Government to inspect MMDAs over building permit enforcement
1 hour -
Cocoa must yield living income, free from deforestation and child labour – The Netherlands
1 hour -
Regional minister marks birthday with donation to Jirapa St. Joseph Orphanage
2 hours -
Trump’s $100,000 H-1B visa fee thrown out by judge
2 hours