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MTN receives green light for listing of Nigerian unit

By: Natasha Odendaal     15th May 2019 JSE-listed telecommunications powerhouse MTN’s plan to list its subsidiary MTN Nigeria on the Nigerian Stock Exchange (NSE) will go ahead on May 16. MTN Group on Wednesday said it had received approval for the listing on the NSE Premium Board. The listing will create a new telecoms and technology... 

MTN raising $555m in Nigeria this year for expansion

By: Bloomberg     14th May 2019 MTN Group’s Nigerian unit plans to raise about 200-billion naira ($555-million) this year from a variety of sources including bank loans and bonds to expand operations in its biggest market. The funds will enable Africa’s largest wireless carrier to finance capital expenditure to increase the... 

MTN posts strong first-quarter service revenue growth

By: Natasha Odendaal     9th May 2019 Telecommunications giant MTN Group has met its medium-term revenue growth guidance, posting a 10% year-on-year increase to R33.2-billion, supported by a continued rise in voice, data and financial technology revenue, during the three months to March 31, 2019. This was led by strong first-quarter... 

MTN appoints Jonas chairperson designate, establishes international advisory board 

By: Natasha Odendaal     3rd May 2019 JSE-listed telecommunications giant MTN Group has established an international advisory board (IAB), led by political and business heavyweights. The group also plans on effecting an “evolution of the board”, with former Finance Minister Mcebisi Jonas appointed chairperson designate, as it enters... 

Angola mobile tender dials back on transparency pledge

By: Bloomberg     17th April 2019 Since assuming power in 2017, Angolan President Joao Lourenco has repeatedly vowed to steer sub-Saharan Africa’s second-biggest oil producer into a new era of transparency. Last week, he missed a golden opportunity to deliver on that promise. The sale of the country’s fourth telecommunications... 

MTN granted more Nigerian spectrum after long regulator battle

By: Bloomberg     11th April 2019 MTN Group was awarded additional broadband spectrum in Nigeria related to its 2015 acquisition of Visafone Communications following a lengthy regulator battle. The Nigerian Communications Commission approved the transfer of 800-megahertz spectrum following a public inquiry into the boost the move... 

Africa's largest tower company plans growth in Middle East

By: Bloomberg     4th April 2019 IHS Holding plans to enter new markets in the Middle East and Southeast Asia to bulk up ahead of a potential attempt to sell shares in either New York or London. Africa’s largest operator of the telecommunications towers is looking to build on two recent deals in Saudi Arabia and Kuwait, CEO Sam... 

MTN drops as Nigeria urges court not to block $2bn penalty  

By: Bloomberg     26th March 2019 MTN Group shares fell almost 7% after Nigeria’s government said Africa’s biggest mobile operator evaded taxes and urged a Lagos court not to block a $2-billion penalty. The High Court of Lagos should throw out the Johannesburg-based company’s attempt to stop it from paying backdated taxes, TA... 

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