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Uganda to renew MTN Group's telecoms operating licence

By: Reuters     18th September 2018 Uganda will renew the operating licence of the local unit of South African telecom company MTN Group, the state-run Uganda Media Centre said on Tuesday. The renewal comes with "with new stringent terms," the agency tweeted, without providing details. 

Exxaro, Seriti said to mull bids for South32 coal assets

By: Bloomberg     11th September 2018 Exxaro Resources and Seriti Resources are among groups considering bidding for South32’s South African thermal coal operations, which have been valued at almost $800-million, according to people familiar with the matter. South32’s South Africa Energy Coal unit, the country’s third-biggest... 

MTN says Nigeria's attorney general exceeded powers in $2bn tax bill

By: Reuters     11th September 2018 Nigeria's attorney general exceeded his powers in demanding $2-billion in taxes and charges from MTN Group, the telecoms firm said in papers filed with Nigeria's High Court and reviewed by Reuters. The papers, filed on Monday in a move by the Nigerian arm of the South African firm aimed at... 

MTN CEO confident about Nigeria dispute as firm applies for injunction

By: Reuters     10th September 2018 Telecoms firm MTN Group said on Monday it was confident a multi-billion dollar dispute with the Nigerian government would be resolved even as it applied for a court injunction to protect its Nigerian assets. Nigeria's central bank last month ordered MTN's Lagos-based unit to hand over... 

Moody's places MTN on review for downgrade

By: Reuters     6th September 2018 MTN Group has been put on review by Moody's for downgrade after the South African mobile phone operator said it was on the hook for a total of $10.1-billion from its biggest market Nigeria, the ratings agency said on Thursday. "MTN's ratings have been placed on review for downgrade to reflect... 

In latest clash, Nigeria hands South Africa's MTN $2bn tax bill

By: Reuters     4th September 2018 MTN Group faces a $2-billion demand for taxes in Nigeria, the latest in a series of skirmishes with authorities in the South African mobile phone company's most lucrative but increasingly problematic market. The announcement of the tax bill incurred over the last decade comes days after the west... 

MTN Uganda bets on music streaming as voice business slows

By: Reuters     31st August 2018 Telecom firm MTN Uganda is betting on a new music streaming product to boost revenue and counter declining voice call sales, its chief marketing officer said in an interview. The carrier, a unit of Johannesburg-listed MTN Group, is the largest in the East African country where it has a subscriber... 

MTN plunges as Nigeria orders $8.1bn be refunded

By: Reuters     30th August 2018 Shares in MTN Group plunged as much as 19% early on Thursday, a day after Nigeria ordered the South African telecoms group and its bankers to return $8.1-billion. Nigeria's central bank said the funds had been illegally moved abroad. MTN denies the allegations. 

MTN optimistic about its Iran business despite renewed US sanctions

By: Natasha Odendaal     24th August 2018 Telecommunications group MTN remains optimistic over prospects in Iran, despite the recently renewed US sanctions blocking further attempts at repatriating funds due to it from 49%-owned joint venture MTN Irancell. In May, the US withdrew from the Joint Comprehensive Plan of Action (JCPOA)... 

Uganda wants unit of MTN Group to list locally before licence extension

By: Reuters     16th August 2018 Uganda has asked the local unit of South African telecoms giant MTN Group to list some of its shares on the local stock exchange as a condition for renewing its operating licence, a top official told Reuters on Wednesday. Godfrey Mutabazi, head of telecoms sector regulator Uganda Communications... 

MTN posts lower H1 profits, reports improved operational performance

By: Natasha Odendaal     8th August 2018 Telecommunications giant MTN on Wednesday posted improved financial results on a constant currency basis for the first half of 2018, with growth achieved in service revenue and an increase in margins on earnings before interest, taxes, depreciation and amortisation (Ebitda). For the six months... 

MTN disposes of its MTN Cyprus holdings for R4.1bn

By: Natasha Odendaal     16th July 2018 JSE-listed MTN Group subsidiary MTN Dubai has sold 100% of MTN Cyprus to Monaco Telecom for R4.1-billion in cash. The deal, which forms part of the group’s ongoing portfolio review, values the Cyprus subsidiary eight times that of reported 2017 earnings before interest, taxes, depreciation and... 

Exxaro appoints new chairperson

By: Marleny Arnoldi     15th June 2018 JSE-listed coal and heavy minerals miner Exxaro has appointed Jeffrey van Rooyen as independent nonexecutive chairperson.  

MTN aims to launch mobile service in Namibia around August

By: Reuters     13th June 2018 MTN Group, Africa's biggest mobile telecoms firm, is aiming to launch a mobile service in Namibia around the end of August, a company executive told Reuters. Currently state-owned operator MTC dominates in Namibia, a country of two-million people. 

Uganda's telecoms regulator to probe MTN on mobile money policies

By: Reuters     31st May 2018 Uganda's telecommunications regulator said on Wednesday it was setting up a committee to investigate the local unit of South Africa's MTN Group after uproar on social media about its mobile money policies. This week dozens of MTN's subscribers in Uganda took to Twitter to accuse it of making it... 

MTN announces Ghana IPO

By: Creamer Media Reporter      29th May 2018 Telecommunications giant MTN’s Ghana subsidiary Scancom, or MTN Ghana, has launched its initial public offer (IPO) with the intention of listing on the Ghana Stock Exchange (GSE). The listing formed part of the localisation requirement as part of the awarding to MTN Ghana of a fourth-generation... 

Telecoms group responds to call to support youth employment

By: Natasha Odendaal     18th May 2018 South African telecommunications giant MTN Group is committing to the creation of 1 000 first job experiences for youth across its South African businesses and head office within the first year of the implementation of President Cyril Ramaphosa’s Youth Employment Service (YES). The business-led... 

Strong first-quarter results delivered

By: Natasha Odendaal     18th May 2018 As telecommunications giant MTN Group continues to pursue its local listing ambition in Nigeria, the West African operation has shown positive momentum in the first quarter of the year. The group last week published MTN Nigeria’s first quarter financial results ahead of the planned initial public... 

MTN’s Iran headaches return as US reimposes economic sanctions

By: Natasha Odendaal     9th May 2018 In the wake of fresh US sanctions against Iran, telecommunications group MTN will remain alert to the challenges of continuing the repatriation of its cash from 49%-owned MTN Irancell. The US on Tuesday withdrew from the multilateral Joint Comprehensive Plan of Action (JCPOA) agreement and... 

MTN’s subscriber base, revenue grow in Q1

By: Marleny Arnoldi     3rd May 2018 Mobile network operator MTN’s subscribers increased by 1.9% quarter-on-quarter with net additions of 4.1-million in the first quarter of this year, while active MTN mobile money users increased by 3.9% quarter-on-quarter to 22.7-million.  

MTN commits to creating 1 000 jobs in support of the YES initiative

By: Creamer Media Reporter      25th April 2018 Telecommunications company MTN Group has committed to the creation of 1 000 jobs within the first year of the Youth Employment Service (YES) initiative. President Cyril Ramaphosa last month launched the initiative – a business-led collaboration with government and labour which aims to empower... 

SABC says COO being finalised

By: African News Agency      16th January 2018 The appointment of the chief operating officer at the South African Broadcasting Corporation (SABC) is soon to be finalised as per the high court order on appointment of executives at the public broadcaster, the SABC board said on Tuesday. “The board wishes to state for the record that it has... 

Phone company MTN assigns its long dated shareholder loan to IHS Holding

By: African News Agency      29th December 2017 Mobile phone company MTN said on Thursday it had, through MTN Nigeria Towers, assigned its shareholder loan of approximately $231-million, which was due in 2024/25, to IHS Holding. The group said the agreement allowed MTN Nigeria to continue to invest in its network more efficiently, and further... 

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... 

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