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
-
Clean cooking initiative transforms health and livelihoods for women in East Gonja
27 minutes -
Over 1,500 residents, 800 pupils benefit as World Vision and Interplast Water Project transform Ahafo communities
32 minutes -
Over 50,000 pople gain access to safe water in Eastern and Ahafo regions
41 minutes -
Rice glut: Inadequate storage hampering food mop-up – NAFCO
2 hours -
Water crisis looms in parts of Volta as GWL shuts down Kpeve treatment plant
2 hours -
Mourinho completes unbeaten season with Benfica
3 hours -
Ronaldo kept waiting for first trophy with Al-Nassr
3 hours -
No trophy in turbulent season but Alonso arrival offers Chelsea hope
3 hours -
You are nothing without footsoldiers – NDC’s James Agbey fires warning at Mahama appointees
3 hours -
‘We share same ambition’ – Alonso named Chelsea’s third boss in year
4 hours -
Northern Region NPP Office Project: Afoko donates 400 bags of cement and Gh¢30,000
4 hours -
NDC begins ‘Party Month’, urges members to embrace patriotism
5 hours -
Requiem Mass held for late Professor Kofi Blay
6 hours -
Navy rescues seven suspected Ivorian stowaways from oil tanker off Tema coast
6 hours -
UHAS holds second session of 10th Congregation for 1,097 graduates
6 hours