Mobile network giant, Vodacom Lesotho says it notes the decision by the Lesotho Communications Authority (LCA) not to revoke its unified license but is taken aback by the imposition of a staggering fine for alleged infractions of the Companies Act, 2011.
LCA announced it has resolved not to revoke mobile giant Vodacom Lesotho’s license but to impose a M134million penalty.
LCA’s chief executive officer, ‘Mamarane Matela, told the media on Monday that the reasons that would have warranted revocation of the company’s license include non-compliance with the provisions of its license, and failure to appoint auditors between 2015 and 2019.
The penalty has been reduced, with the company required to pay 30 percent of the fine – M40million – immediately, while the rest is suspended for five years.
“VCL is considering various options and will, in due course, convey its position to the LCA determination. As a responsible corporate citizen, Vodacom Lesotho is committed to complying with regulations and the rule of law and has made significant investments in network infrastructure, technology and socio-economic programmes throughout the country since it began operating in 1996,” Vodacom said.