Namibia is seeing growth in the telecoms sector and the government wants local investors to benefit. Precautions have been taken for this. Last week, during the presentation of the 2019/2020 financial results of the Mobile Telecommunications Company (MTC), the Namibian Minister of Public Enterprises, Leon Jooste, confirmed the government’s willingness to open the capital of the...
MTN Group shares fell more than 15% on Monday, to their lowest levels in nearly 14 years, as investors digested the news of a shock fall in oil prices overnight. Also possibly weighing on sentiment was news that the group is at risk of having its debt downgraded by rating agency S&P Global Ratings, also because...
South Africa-based multinational mobile operator Vodacom Group’s consolidated revenue for its fiscal third quarter ending 31 December 2019 increased 6.6% year-on-year to ZAR23.626 billion (USD1.58 billion), supported by consolidated service revenue growth of 5.7% to ZAR18.899 billion. The African carrier added a net 484,000 mobile subscribers in its home market in October-December 2019, augmented by...
The share value of Maroc Telecom, known as Itissalat Al Maghrib (IAM), fell 7.52% on Monday February 3, 2020. It was the biggest daily drop for this company, first capitalization of the Casablanca Stock Exchange, since July 23, 2013, when its share had declined by 9.3%, according to data collected by the Ecofin Agency. In...
Shareholders of South Africa’s Blue Label Telecoms, which has lost almost half of its value since January, have unanimously approved the sale of two assets for some ZAR 1 billion, Bloomberg reported. They approved the sale of 85 percent of its stake in subsidiary Blue Label Mobile for ZAR 450 million to DNI, a SIM...
Ethio telecom, the sole provider of telecom services in Ethiopia has garnered a little over 10 billion birr or close to 344 million USD revenue in the first quarter of the 2019/20 fiscally year. The company has increased its performance by 21 percent as compared to the same period last year, Frehiwot Tamiru, CEO of...
Blue Label Telecoms will take an almost R6.71/share hit to its earnings per share for the full-year to 31 May 2019 thanks to the ongoing woes at Cell C, it warned on Thursday. The share price fell to an all-time low of R2.51 shortly after the trading statement was released, but recovered ground to R2.65 shortly...
There are strong indications that MTN Nigeria is planning to raise N100 billion through Commercial Paper (CP). Although the telco giant is yet to officially announce the plan, an official suggested on Tuesday that the firm would issue the commercial paper through the Nigerian Stock Exchange shortly. Reacting to reports of the proposed plan on...
THE Zimbabwe Anti-Corruption Commission (ZACC) Monday announced it had opened investigations into Econet’s mobile money transfer subsidiary, Ecocash. This follows an outcry by the public over the exorbitant fees charged by Ecocash agents when withdrawing money through the mobile wallet. Ecocash agents now sell hard cash at premiums as high as 50% and 60% from...
The JSE warned on Tuesday that Blue Label Telecoms failed to submit its annual financial results on time and that if it fails to do so by month-end, its shares may be suspended from trading. In a routine statement issued by the bourse before the market opened, it said it “wishes to advise that the above-mentioned...
