MTN South Sudan cuts jobs as Govt devalues currency

South Sudan MTN

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[/blockquote]The world’s youngest nation’s biggest telecom company MTN South Sudan, is cutting several jobs and also terminating it’s planned expansion projects. These job cuts were due to the looming economic crisis, it said on Tuesday that was caused when the south Sudanese govt devalued it’s currency. This includes over 14 experts some of whom where Ugandans.

MTN South Sudan had scrapped plans to put up 40 new cellular transmission towers and 100 third generation (3G) transmission sites, he said.According to the routers, the world’s newest nation plunged into civil war in late 2013 when a political crisis provoked fighting between forces loyal to President Salva Kiir and rebels allied with his former deputy, Riek Machar.

The firm, a unit of South Africa’s MTN, is the latest among foreign firms to reduce operations after a currency devaluation, spiralling inflation and lower revenue from oil on a drop in production and weak global crude prices. The company said that subscriber numbers had dropped by 10 percent since October last year, and the company was expecting more losses this year.

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