MTN CEO resigns following Nigeria fine fiasco

Some were surprised to hear about the renewal as the company has to pay up a $5.2bn fine for failing to disconnect unregistered sim card holders in the country - its largest country of operation by far - by 16 November.

The fine is the reason Dabengwa has resigned with immediate effect, explains Business Report.

Non-executive chairman Phuthuma Nhleko will serve as executive chairman for MTN in a temporary capacity for the next six months until a suitable replacement is found.