MTN Zakhele trading in shares to resume next Wednesday - CNBC Africa

MTN Zakhele trading in shares to resume next Wednesday

Southern Africa

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The BEE scheme which owns 4 per cent of MTN Group Limited’s (MTN) total issued ordinary shares will resume on 29 January 2014, via the online platform and call centre.

Trading was initially launched on 25 November 2013, but was suspended shortly thereafter to enhance the platform’s capacity. The trading platform was thoroughly tested following these enhancements. Additionally, the capacity of the call centre has also been increased to handle a higher volume of calls.

Following system enhancements and testing in December 2013, MTN Zakhele was required to engage with the regulatory authorities in order to apprise them of the upgraded system and results of testing.  MTN Zakhele has now received the requisite approval from the regulatory authorities for trading to resume. 

“We sincerely regret the delays and the inconvenience which users have experienced.  We are confident that the updated system is robust and will be able to accommodate higher volumes of activity upon resumption of trading on Wednesday,” MTN Zakhele Chairman Thulani Gcabashe said in a statement.