London-based Standard Chartered Bank has hit headlines this week after pleading guilty to currency manipulation which included the South African Rand, between 2007 and 2013. South Africa’s Competition Commission has acknowledged the agreement made between Standard Chartered Bank and the New York State Department of Financial Services .However they will consider the order of affairs as it relates to the forex litigation with other banks in South Africa. Sipho Ngwema, Head of Communications at the Competition Commission of South Africa joins CNBC Africa for more.
Tony Walt, Chief Solutions and Operations Officer at Internet Solutions shares his insights into what measures the South African government should take to bring down high data costs.
The Competition Commission's inquiry into high data prices has left the telecoms sector at odds with various state entities. Submissions from various Mobile service providers are stubborn in saying that data prices in South Africa are competitive and that rates cannot be lowered due to cost factors.