In an interview with Bloomberg , Ralph Mupita, the financial director of MTN Group, revealed that the South African telecoms group intends to reduce its shares in its Nigerian subsidiary. The company which holds 79% of shares intends to sell 15%. This operation, which will be aimed at local investors, will bring MTN Group’s stake in MTN Nigeria to...
Nigerian stocks fell to eight-year low yesterday following negative reactions to President Muhammadu Buhari’s ordering of lockdown in Lagos, Abuja and Ogun, to stop the spread of coronavirus. The Nigerian Stock Exchange (NSE)All-share Index dropped 2.43 per cent to 21,330.79, while market capitalisation shed N276.7 billion to N11.1 trillion. The decline was caused by losses...
Mobile operator MTN Benin has extended its managed services partnership with Swedish technology provider Ericsson to include network services focused on artificial intelligence (AI), automation and analytics. Ericsson, which already partners MTN Benin on managed charging system operations, signed a deal to provide managed services including network operations centre services and field services in radio, core and transmission technology...
The cellphone operator’s share price has lost more than half its value so far in 2020, with global markets beset by concerns over Covid-19 Listed telecom operator MTN says its current share price is undervalued, having lost more than 50% of its value on the JSE so far in 2020 as a result of the...
Further to the roll out of its asset realisation programme (‘ARP’), introduced in March 2019, MTN Group has confirmed it has received regulatory approval for the disposal of its stake in ATC Ghana. This follows the company’s announcement on 11 March 2020 reporting its 2019 annual results and the conclusion of the disposal of its...
South Africa’s MTN Group says it is still pushing for sales growth at its 49%-owned subsidiary in Iran, MTN Irancell, despite the effect of US economic and trade sanctions. While the group has admitted having difficulty taking money out of Iran due to the sanctions, it says it is able to convert earnings to loans to MTN Irancell, which is allowing...
The South African telecoms group MTN has published its financial results for the year 2019. Once again, Nigeria carries the company’s revenues with a turnover of 46.61 billion rand (2, 82 billion dollars), up 23% compared to 2018. The financial performance of MTN Nigeria also represents a contribution of 30.77% to the group’s income which...
MTN Uganda has agreed to pay USD100 million to renew its licence for a further ten years. The decision follows more than a year of negotiations, during which the South African-owned cellco has been forced to operate under a series of temporary permits. It was reported last year that the government was pushing for a USD118...
MTN CEO Rob Shuter says South Africans can expect an announcement from the company regarding data price cuts shortly. This comes after Vodacom and the Competition Commission reached an agreement on 10 March 2020 regarding the Data Service Market Inquiry. Vodacom agreed to reduce mobile data prices by over 30% across all monthly data bundles for contract and...
MTN Group announced what they believe is an encouraging set of results for the year ended 31 December 2019 – most notably the addition of 18 million customers to reach a total of 251 million and that group president and CEO, Rob Shuter, would be stepping down from his role at the end of his...
