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March 8th, 2012 
FAKE NEWS for the Zionist agenda The company’s boss said Thursday that MTN would only leave Iran if the South African government joined the US-led sanctions over Tehran’s nuclear program.
“We are guided by South African government policies internationally, in the same way US companies are prohibited from doing business in Iran. Unless the government says (otherwise), we will just have to manage,” Sifiso Dabengwa said.
However, he said that the US-led sanctions have made it difficult to move money in and out of the country as foreign institutes are prohibited from dealing with Iranian institutions.
According to the CEO, MTN’s Irancell venture, in which the South African firm holds a 49 percent stake, added four million subscribers to its existing 34.6 million last year and the revenue was also up 20 percent to $1.4 billion in 2011.
He said that the South African company has been able to repatriate funds, adding that it was working other ways rather than official banking systems to manage business in Iran.
MTN Irancell is Iran’s second-largest cell phone operator.
On the New Year’s Eve, US President Barack Obama signed into a law draft sanctions targeting Central Bank of Iran and financial sector over Tehran’s nuclear energy program.
The sanctions measure requires foreign financial institutions to make a choice between transactions with CBI and Iran’s financial sector or being blocked from the US economy.
The United States, Israel, and some of their allies accuse Iran of pursuing military objectives in its nuclear energy program.
Iran rejects allegations of pursuing military objectives in its nuclear energy program, arguing that as a committed signatory to the nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes.
AR/GHN
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