Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News December 09, 2013 at 02:59PM

this blog is spored BY reflex Eco Group

VENTURES AFRICA – Egypt’s mobile operators, Mobinil, Vodafone Egypt and Etisalat have been blamed of operating an unlawful business cartel in the troubled country.

Egyptian Competition Authorities (ECA) on Sunday said these mobile operators have been jointly increasing prices, costing consumers more than $72.6 million a year.

“Even though implementing a stamp tax in itself is not illegal, the way the companies went about it breaks the cartels law,” Al Ahram quoted Mona El-Garf, the leader of ECA, as saying.

This comes after ECA started an investigation last year following a complaint that the mobile operators were loading consumers with “stamp tax.”

According to Al Ahram, the mobile operators claim to have endured the burden of tax for their clients.

But the current tough economic conditions forced them to charge their customers more.



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