Nigeria is Vodacom bosses' doom

[dArKeR]

By Gugulakhe Masango

Johannesburg - Andrew Mthembu, the deputy chief executive of Vodacom, was fired yesterday and two other top executives resigned after the cellular operator announced it was pulling out of Nigeria.

Mthembu's termination was announced after Vodacom and Vee Networks, previously Econet Wireless Nigeria (EWN), agreed to end a management contract they had signed two months ago.

Willem Swart, who led Vodacom's operations in the Democratic Republic of Congo and was running EWN, also resigned yesterday to join Vee Networks.

Robert Pasley, Vodacom's group strategic director, also resigned from the company yesterday.

The break-up signals the end of Vodacom's plans to invest up to $150 million (R974 million) to buy a majority stake in EWN.

MTN, Vee Networks and Globalcom each hold one of three licences issued by the Nigerian government.

Nigeria is a jewel cellular operators are prepared to fight over because, although the market is still in its infancy, its population of 120 million promises huge returns eventually.

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