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[In The Know]
CWN wants justice
Author:
Candice Jones
Issued:
27 Jan 2010
VODACOM INTERNATIONAL has plundered Vodacom Congo of capital, says Congolese Wireless Networks (CWN), which has accused the mobile operator of fraud. CWN said Vodacom had forced its DRC operation to pay up to $180 million to satisfy loan agreements with "uncommercial terms and conditions". The Congolese business, which holds 49% of Vodacom's DRC operation, said Vodacom International had made it impossible for the company to make any profit, despite it being the largest network in the country. As the majority shareholder in the DRC operation, Vodacom has lambasted CWN's accusations, halting any further investment in the business until the dispute is resolved. Vodacom was adamant it had acted in good faith, and that CWN had been the counterproductive partner.
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