“We’ve now ensured that we can take four times the number of concurrent users we had in our first round of trading. We’ve also looked at loading in terms of the number of transactions that they would do and we’ve then looked at the stability of the system while those transactions are happening,” Thulani Gcabashe, chairman of MTN Zakhele, told CNBC Africa.
“What we’ve also done is double the number of calls from the agents so we now have 80 agents all trained up and ready. The service providers we’re working with have been hard at work getting this right and we rely on the auditing that’s being done. We’ve been taken through it and the system is far more robust now so it can take the volumes that we saw at the beginning.”
MTN Zakhele announced that its shares would only resume trading in January 2014. The date has been pushed back a number of times following an increase in demand and several technical issues.
“Essentially we’ve had our service providers working on fixing what needed to be fixed and with an intensive amount of testing coming on the back of that. This has been ongoing and we are now at a point where, in our view, the system is robust, everything has been fixed. We’re awaiting the finalisation of the report by the auditors who’ve audited the system,” Gcabashe said.
“Thereafter we will be conferring with the regulators who, as you might expect, have wanted to know what had gone wrong and what we’ve done about it. We’ve indicated that the problems we’d really had were around capacity in terms of concurrent users being more than the system could cater for – we’ve been working on fixing that.”
Gcabashe declined to set a date for when MTN Zakhele would start trading again but indicated that it would communicate the information as soon as it had been decided on.
“The reason we didn’t open as we had thought today is that the regulators are looking at our reports and we are holding discussions with them. Given the time of year, it’s quite difficult to get everything done quickly so we are in engagement with them. We just felt that it’s probably more likely that by January, all of these processes will have finished,” he said.