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Biggest African phone-tower firms said to be mulling 2018 listings

By: Bloomberg     8th December 2017 Three of Africa’s largest telecommunication towers companies plan to pursue share sales in either London or New York early next year, taking advantage of high industry valuations to fund expansion, according to people familiar with the matter. Closely-held IHS Towers, targeting an enterprise... 

Benin government requests MTN Benin CEO to leave the country

By: Natasha Odendaal     17th November 2017 The Benin government has ordered MTN Benin CEO Stephen Blewett to leave the country within seven days. Blewett, who has lived in the country since 2015, on Friday received official notification to exit the country by November 24 on the basis of his alleged engagement in “activities detrimental to... 

MTN appoints new Seagha region VP

By: Anine Kilian     6th October 2017 MTN has appointed Ebenezer Asante VP of its expanded Southern, East Africa and Ghana (Seagha) region. The new Seagha region will comprise the mobile operations in Ghana, Uganda, Rwanda, Zambia, South Sudan, Botswana and Swaziland, as well as the MTN Internet service providers in Kenya, Namibia... 

BBBEE Commission initiates investigation into 17 companies for possible fronting 

By: Creamer Media Reporter      8th August 2017 Investigations have been initiated by the Broad-Based Black Economic Empowerment (BBBEE) Commission against 17 firms for possible fronting practices. Any of the entities found to be in violation of the BBBEE Act in terms of ownerships structures and noncompliance with the Codes of Good Practice... 

World's biggest tax bill is latest worry for African gold miner

By: Bloomberg     27th July 2017 It was supposed to mark a fresh start for the African business of the world’s biggest gold producer. In November 2014, African Barrick Gold would get a new name and new management to distance itself from a troublesome past and disputes with local politicians. Less than three years later, things... 

Anglo said to have bids in for New Largo from Seriti

By: Bloomberg     22nd May 2017 Anglo American has received bids for its New Largo project, in South Africa, as the company continues efforts to exit operations in the country that supply coal to local power plants, according to two people familiar with the process. Seriti Resources, which agreed last month to buy thermal coal... 

Rwandan authority fines MTN subsidiary $8.5m

By: Creamer Media Reporter      17th May 2017 The Rwanda Utilities Regulatory Authority has fined MTN Rwanda $8.5-million owing to its noncompliance with directives prohibiting the inclusion of MTN Rwanda in the MTN South and East Africa information technology hub, based in Uganda. MTN Rwanda is studying the notification of the fine and says... 

MTN Group to buy 40% stake in Iranian broadband provider for R540m

By: Anine Kilian     8th May 2017 Telecommunications giant MTN Group on Monday signed a nonbinding preliminary agreement to invest R540-million into Iranian fixed broadband provider Iranian Net for a 49% stake in the company. Further investments of R3.4-billion in both equity and loans will also be made over the next five years... 

MTN reports upward swing in Q1 revenue

By: Natasha Odendaal     3rd May 2017 Telecommunications giant MTN Group on Wednesday reported an improved first-quarter operational performance as it works to recover from significant losses in 2016. The JSE-listed group delivered increases in revenue across several operations during the three months to March 31, with significant... 

Masimong said to lead bid for Anglo's South African coal mines

By: Bloomberg     30th March 2017 Masimong Minerals has emerged as the favourite to win an auction for some of Anglo American’s South African coal mines, according to two people familiar with the matter. Led by South African Chamber of Mines President Mike Teke, Masimong has edged ahead of Phembani Group, the other shortlisted... 

Anglo's South African coal bidders said to consider listings

By: Bloomberg     15th March 2017 The two main bidders for Anglo American’s South African coal mines plan to list their companies if they are successful in buying the operations, according to three people familiar with the plans. Phembani Group, founded by MTN Group chairperson Phuthuma Nhleko, and Masimong Minerals are seen as... 

MTN appoints executive for group transformation 

By: Natasha Odendaal     3rd February 2017 Telecommunications giant MTN on Friday announced the immediate appointment of Saim Yaksan as executive for group transformation, following the launch of holistic transformation programme Ignite in the third quarter of 2016. Yaksan will be tasked with the development and execution of special... 

MTN simplifies tower ownership structure

By: Megan van Wyngaardt     1st February 2017 Telecommunications giant MTN Group will exchange its 51% interest in Nigeria Tower InterCo, the parent company of INT Towers, the Nigerian telecoms tower operator, for an additional shareholding in IHS Holding. As a result, MTN’s economic interest in IHS Group will increase from 15% to 29%, with... 

Anglo shortlists bidders for some South African coal mines

By: Bloomberg     19th January 2017 Anglo American has shortlisted groups led by some of South Africa’s most prominent black businessmen as bidders for several of its South African coal mines as it focuses on diamonds, platinum and copper, two people familiar with the discussions said. Groups selected by Anglo include companies led... 

MTN Zakhele Futhi to close this week

By: Creamer Media Reporter      22nd November 2016 The final implementation of the 2016 edition of MTN’s new black economic empowerment scheme, MTN Zakhele Futhi, has started, with the expectation that it will close this week. MTN Zakhele Futhi opened to qualifying black investors and groups in September, with the public offer raising some... 

MTN tests Facebook-designed Voyager platform

By: Creamer Media Reporter      2nd November 2016 South African mobile operator MTN Group has deployed and tested the open optical packet transport platform Voyager, with indications that operators could now install a network at a lower cost. The group, working with Telecom Infra Project (TIP), field-tested the Voyager next-generation technology... 

MTN launches new R9.9bn BBBEE transaction as Zakhele winds up

By: Natasha Odendaal     22nd August 2016 As JSE-listed MTN Group unwinds its six-year-old empowerment vehicle, MTN Zakhele, work is under way to establish a new R9.9-billion broad-based black economic-empowerment (BBBEE) transaction to fulfill core targets. The new special purpose vehicle, MTN Zakhele Futhi, owning an equity ownership... 

MTN prepares for Nigeria listing 

By: Natasha Odendaal     28th July 2016 JSE-listed MTN Group is targeting a 2017 Nigeria bourse listing for its Nigeria-based operations – a move that will be reliant on suitable market conditions. The group is set to embark on preparations for the NSE listing as and when it is "commercially and legally" possible, with a management... 

MTN announces new group CEO, several board posts

By: Natasha Odendaal     20th June 2016 Telecommunications giant MTN on Monday announced the appointment of Rob Shuter as group president and CEO following  a global search in the wake of the resolution of the “Nigerian dispute”. Shuter would assume the new role by no later than July 1, 2017, as he wrapped up his current obligations as... 

MTN near to hiring new CEO

By: News24Wire      25th May 2016 Embattled mobile network MTN Group says it is near to hiring a new chief executive officer after the previous head of the company quit late last year. Local telecoms veteran Sifiso Dabengwa resigned as MTN Group CEO last November after Nigerian regulators slapped the company with a massive $5.2bn... 

Zakhele pays off more debt as MTN dividends increase

By: Natasha Odendaal     16th March 2016 With a greater-than-expected 2015 dividend pay-out from MTN Group, transformation and empowerment shareholder and investment group MTN Zakhele continued to decrease its debt. The 4% stake in MTN, the group’s only asset, generated a R964.6-million dividend income for the year ended December 31,... 

Nigeria reinstates regulatory services to MTN

By: News24Wire      16th March 2016 Nigeria’s telecommunication regulator has lifted its suspension of services to MTN [JSE:MTN], the mobile network said on Tuesday. The Nigerian Communications Commission (NCC) suspended regulatory services to MTN last year in October when the company was fined $5.2-billion for failing to... 

MTN seals international deal with Telefonica

By: News24Wire      15th December 2015 Mobile operator MTN has signed a deal with Spanish-based Telefonica to boost its enterprise businesses. “Many of the initial areas are aiming to improve both companies’ stand in regards to Enterprise customers, including services to multinational companies in each other’s footprint, collaboration... 

Rand drops on Yellen's hawkish comments, stocks open lower

By: Reuters     3rd December 2015 South Africa's rand fell in early trade on Thursday as the dollar gained after Federal Reserve chair Janet Yellen said she was "looking forward" to the first US interest rate increase in nearly a decade. Stocks opened lower, with telecoms company MTN Group in the spotlight. Nigerian authorities... 

Nigeria slashes MTN fine to $3.4bn; Nigeria CEO quits

By: News24Wire      3rd December 2015 Africa’s biggest mobile network MTN has announced that its Nigerian chief executive officer has resigned amid a multibillion-dollar fine in that country. The company announced in a statement on Thursday morning that Michael Ikpoki, its Nigerian CEO, has handed in his resignation with immediate... 

MTN’s pleas to ease $5.2bn Nigerian fine fall on deaf ears again

By: African News Agency      20th November 2015 Mobile phone operator MTN’s pleas for leniency following a $5.2-billion fine for failing to disconnect 5.1-million unregistered Nigerian users has suffered another setback after the Nigerian Governors’ Forum (NGF) insisted the company pay the penalty. The governors’ body argued that the Nigeria... 

MTN seeks new CEO as Dabengwa bows out; PIC calls for more resignations

By: Natasha Odendaal     9th November 2015 Telecommunications giant MTN Group CEO Sifiso Dabengwa has stepped down with immediate effect as the JSE-listed group faces a multibillion-dollar fine in Nigeria. Current nonexecutive chairperson Phuthuma Nhleko was appointed executive chairperson for a six-month period while the process to... 

MTN Zakhele lists on JSE

By: RDM News Wire      5th November 2015 MTN Zakhele on Thursday became the the first company to list on the Empowerment Segment of the JSE this year. The listing of MTN Zakhele‚ which was “established as a vehicle for previously disadvantaged South Africans to invest in MTN Group”‚ follows a directive from the Financial Services Board... 

JSE to investigate MTN for possible insider trading

By: News24Wire      30th October 2015 The Johannesburg Stock Exchange (JSE) on Friday started an investigation into the timing of MTN Group’s announcement on Monday that the Nigerian Communications Commission (NCC) had fined them $5.2bn. "The investigation will follow due process to establish whether there have been any breaches of... 

MTN S Africa CEO resigns

By: Creamer Media Reporter      6th July 2015 Ahmad Farroukh will step down as CEO of MTN South Africa on July 31. A successor would be announced as soon as a new appointment was finalised. “This was a difficult decision to take for Ahmad, but unavoidable due to personal and family reasons.   “On behalf of the MTN leadership, we thank Ahmad... 

NHBRC to open training workshop, academy 

By: Creamer Media Reporter      21st May 2015 The National Home Builders Registration Council recently invited Engineering News to its training centre and the Eric Molobi Housing Innovation Hub in Soshanguve, north of Pretoria to discuss the training and major projects currently underway. Sashnee Moodley has the story.  

MTN leverages Internet of Things 

By: Natasha Odendaal     14th May 2015 Telecommunications major MTN has leveraged the emerging Internet of Things (IoT) to open up a “whole new world” into other industries for the JSE-listed firm’s business arm, while enabling African enterprises to gain greater control over the connection and management of machine-to-machine (M2M)... 

MTN adds four-million subscribers‚ total rises to 228-million

By: RDM News Wire      23rd April 2015 MTN Group added 4.1-million more users to its books in the quarter ended March‚ taking its total user base to 227.5-million subscribers. Data revenue increased 16.7% in the quarter‚ when compared to the first quarter last year‚ said the company on Thursday. Data now contributes 21% of the group’s... 

MTN, Vodafone enter mobile money interconnect agreement

By: Natasha Odendaal     21st April 2015 Telecommunication giants MTN and Vodafone have collaborated to deliver seamless transactions between their respective Mobile Money and M-Pesa mobile money services in East Africa. A memorandum of understanding between the parties would see customers of MTN’s Mobile Money and Vodafone’s M-Pesa... 

MTN SA rallies in Q3

By: Natasha Odendaal     23rd October 2014 Mobile operator MTN South Africa has gained some ground in winning back customers during the quarter to September 30 after a delayed reaction to the price war last year saw the JSE-listed group fall behind its rivals. The group’s South African operation added 1.4-million net subscribers during... 

MTN draws another win as Turkcell treaty case dismissed

By: Natasha Odendaal     20th October 2014 Turkish mobile operator Turkcell has been dealt another blow in its ongoing battle against South Africa-based mobile operator MTN Group, as the International Arbitration Panel dismissed the latest attempt to hold MTN legally accountable for allegedly blocking a mobile operator licence bid in... 

MTN Zakhele reports successful 2013

By: Natasha Odendaal     15th July 2014 Telecommunications group MTN’s broad-based black economic-empowerment trading platform, MTN Zakhele, has delivered good progress during 2013, with trading of shares now at six times the original share price amid robust trade. Speaking at the annual general meeting on Tuesday, MTN Zakhele... 

AngloGold Ashanti Appoints Christine Ramon as Incoming CFO

     7th July 2014 AngloGold Ashanti is pleased to announce Christine Ramon will be taking the post of Chief Financial Officer and Executive Director of the Board, from October 1, 2014. She will replace Richard Duffy, who will then step down from both the Board and Executive Committee. The appointment of Ms. Ramon,... 

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