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MTN calls for a binding arbitration

A legally binding arbitration process that MTN is suggesting to the Communication Workers Union (CWU) is fair and it can help put an end to the current industrial action, MTN SA Chief Executive Officer Ahmad Farroukh told the delegation representing the striking employees.

This follows a meeting that MTN management had with a delegation from the CWU this afternoon.

"MTN wishes to reiterate that the proposal for the appointment of an independent arbitrator that is fair and impartial may be the only practical solution to this stalemate. I therefore urge the unions to accept it. As a law-abiding corporate citizen, MTN undertakes to be bound by the findings of the arbitration process and we will implement whatever judgment the arbitrator deems appropriate," says Farroukh.

Furthermore, MTN would like to clarify that during last week's discussion, at no stage did MTN offer an alternative percentage other than the current offer, nor did it offer a new payment date. MTN is offering an 8% guaranteed bonus, which will be payable in two instalments. The first payment was made on March 2015, and the second instalment will be payable in December 2015.

MTN's maintains that this offer exceeds the original staff demand for 8% of bonus payment.

"MTN remains committed to finding a speedy and amicable resolution to this impasse. We have an open door policy and we remain committed to constructively engage employees further on this matter in good faith," Farroukh concludes.

MTN

MTN Group

Launched in 1994, the MTN Group is a multinational telecommunications group, operating in 21 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: "MTN".

As at the end of 30 June 2010, MTN recorded 129.2 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d'Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo Brazzaville), Rwanda, South Africa, Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. The MTN Group is a global sponsor of the 2010 FIFA World Cup South Africa and has exclusive mobile content rights for Africa and the Middle East. Visit http://www.mtn.com and http://www.mtnfootball.com.