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Africa’s telecommunications and technology industries have attracted the second highest number of Foreign Direct Investment (FDI) projects in 2020, after business services. Nigeria and South Africa lead in attracting FDI. This is according to the Africa Attractiveness Report 2021 released by EY which emphasised that the modernisation of telecommunications networks by regional operators has helped to attract...

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MTN Group has announced that the Securities and Exchange Commission (SEC) has approved an offer for sale of up to 575 million ordinary shares in MTN Nigeria, by way of a bookbuild to qualified investors (Institutional Offer) and a fixed price to retail investors (Retail Offer). The Institutional Offer opens on 23 November 2021 and...

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Nigerian mobile operators MTN and Airtel have been granted approval in principle to operate mobile payment banking services in the West African country. Airtel says it plans to provide services through a subsidiary known as Smartcash but noted that final approval is subject to satisfying certain standard conditions within six months. ‘I am very pleased that Smartcash...

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After a year and a half of preparation, Nigeria is on the verge of joining the list of African countries where 5G is operational. The Ministry of Communications and the Digital Economy and the telecoms regulator have worked hard to materialize this qualitative leap. The Communications Commission of Nigeria (NCC) announced on Saturday, November 6, the...

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Pan-African mobile carrier MTN Group has released its quarterly trading update for the three months ended 30 September 2021, highlighting a 19.1% year-on-year increase in consolidated service revenue. The Johannesburg-based company also noted that EBITDA was up 24.1% y-o-y while its EBITDA margin improved by 2.1 percentage points to 45.0%. In the filing it claimed that its quarterly performance ‘was delivered...

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The planned initial public offering (IPO) of MTN Nigeria shares will get underway this month, with some 575 million shares being made available. According to a statement by MTN Group, the process will open with a bookbuild to institutional investors, after which a fixed price will be announced for retail investors. The latter stage will also take place this...

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Having celebrated 20 years of telecommunications revolution in the country, the local sector will require policy and regulatory stability to reach the next milestone, Chairman of MTN Nigeria, Dr. Ernest Ndukwe, has said. Ndukwe, at the 20th anniversary of the telecoms industry in Nigeria, organised by Compact Communications in Lagos, said the political and financial independence...