In a latest notification, MTN Nigeria proposed a merger between Momo Payment Service Bank and Yello Digital Financial Services MTN Nigeria to vote on a proposal towards a merger of Momo Payment Service Bank and Yello Digital Financial Services, both being its finance subsidiaries. A proposal has been made to merge and integrate two subsidiaries...
Japan and the International Monetary Fund (IMF) have extended technical assistance to Zimbabwe to implement the Enhanced General Data Dissemination System (e-GDDS), a platform to publish essential macroeconomic and financial data. The e-GDDS is the first tier of the IMF Data Standards Initiatives that promote transparency as a global public good and encourage countries to voluntarily publish...
Pan African mobile operator MTN Group today reported runaway success in full year 2022 results, expanding return on equity and an increase in dividends. MTN Group, which has a footprint in 19 markets, side-stepped a challenging macroeconomic environment of elevated inflation across its markets, to report a strong 2022 financial performance. In the year to...
The use of social networks is growing rapidly in South Africa. The operator wants to take advantage of this channel to improve access to its services and increase its revenues. Subscribers of South African mobile operator Telkom can now make financial payments directly in the WhatsApp mobile instant messaging app. This new feature is based on the...
The shares will reportedly be made available to both foreign and domestic investors This week, sources speaking to Reuters report that the government is looking to offload a 10% of its 80% stake national network operator Telecom Egypt. At its currently share price, this stake would be worth around $150 million. According to the report, the government...
Company now owns 14% of the British company UAE-based telecoms giant e& has increased its stake in Vodafone Group to 14% of the company’s issued share capital, the company said on Tuesday. This is the second time this month e& has increased its stake in the British company, following earlier share hikes in May and December 2022, as...
Airtel Kenya is looking to sell a 30% stake in its business to local investors as it seeks to comply with regulations on local ownership thresholds ahead of the March 2024 deadline. Business Daily quotes Airtel Africa’s CEO Segun Ogunsanya as saying that the operator is in talks with the Communications Authority of Kenya (CA) and the...
A new report says Ethiopian businesses have lost about US$146-million due to the internet shutdown in the Tigray region last year that affected over one million internet users. The report by Top10VPN, a VPN service provider, said there was no internet connection for a total of 8 760 hours in 2022. In addition to crippling digital...
Internet connectivity via satellite has regained value in Africa over the past seven years. Several companies are currently competing for this market where telecom operators are unable to effectively cover the entire continent. The Emirati provider of telecom satellite services, Al Yah Satellite Communications Company (Yahsat), presented its financial results. Of the five regions where the company...
Airtel Africa has reported a net profit of US$193-million for the third quarter of its financial year after the company attracted more subscribers in the DRC, Kenya, Nigeria, Tanzania and Zambia. The company added that its customer base across its operations has increased by 10.1% to reach138.5 million, up from its figure of 134.7 million...
