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Tag: MTN

  • MTN Group perfects plans for Nigeria public offer

    MTN Group on Monday said it was perfecting the details of its proposed Nigeria Initial Public Offering (IPO), the News Agency of Nigeria.

    MTN Group’s spokesperson, who pleaded anonymity, confirmed this in response to enquiries by NAN on why the company was yet to file applications for the proposed offer.

    Both the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) are yet to receive applications from the company for the offer.

    The MTN representative said detailed process and work stream on the IPO were currently underway and would be announced at the appropriate time.

    NAN reports that IPO is process through which a private company or corporation raises investment capital by offering its stock to the public for the first time.

    Speaking on the IPO process, the spokesperson said MTN had not made known the offer value contrary to the 500 million dollars being speculated in the media.

    “To clarify some matters on the IPO process, no amount/value has been given by MTN Group or MTN Nigeria regarding the IPO and there was never a statement on a ‘proposed $500m IPO.’

    “In the communication we have issued to the market, we have noted that we expected this IPO process to be concluded during 2018 and there was not a specific date given,” the representative said.

    NAN reports that there were reports earlier that MTN Group Ltd. was perfecting plans to raise about 500 million dollars from the sale of shares in its Nigerian business in the first half of 2018.

    Standard Bank Group Ltd. and Citigroup Inc. had been advising the company on the disposal of as much as 30 per cent of the Lagos-based unit on the Nigerian Stock Exchange (NSE).

    MTN had agreed to list the Nigerian unit as part of June 2016 agreement to pay one billion dollars fine for missing a deadline to disconnect unregistered subscribers amid a security crackdown.

    NAN reports that MTN recently appointed a Nigerian investment firm, Chapel Hill Denham, as lead manager for the planned sale of 500 million dollars shares in its Nigerian business.

    It also appointed South Africa’s Rand Merchant Bank, Renaissance Capital and Vetiva Capital as joint issuers to the offer.
    The telecoms firm also appointed seven placement agents that would help market the shares.

  • MTN, tech brands partner to promote young talents

    MTN has partnered tech savvy brand to promote young talents.

    The telco participated at the maiden edition of TechFest, which brought together thousands of tech enthusiasts and creative minds to explore, debate and proffer technological solutions to societal problems.

    Aside MTN, Diamond Bank (the organisers), Visa, Microsoft, Nigeria Inter-Bank Settlement System (NIBSS), Deloitte and Touche, Interswitch and The Beat FM also participated at the event.

    The event held at Landmark Event Centre, Lekki, had ‘Spark Your Curiosity’ as its theme.

    Speaking at the event, Chief Enterprise Business Officer, MTN Nigeria, Lynda Saint-Nwafor said: “MTN is excited to be a part of this event and thrilled about facilitating value driven innovation. Technology is key to solving problems and we hope that this event will connect some start-ups with the resources they need for the next level – delivering innovative commercial solutions for our day-to-day needs.”

  • MTN mulls raising $1.1b in Nigeria

    MTN Group limited has concluded plans to borrow as much as N400 billion ($1.1 billion) in Nigeria this year. The African largest wireless carrier by sales seeks to fund local investment and replace existing debt in the continent’s most populous country.

    The carrier plans to sell bonds and take out long-term loans as Nigeria, Africa’s biggest oil producer, recovers from a 2016 economic contraction. The carrier expects to list its Nigerian unit on the Nigeria Stock Exchange (NSE) by the end of this year. The Securities Exchange Commission (SEC)  is preparing for record bond issuance from companies seeking to benefit from lower interest rates and an economy on the mend, it said this week.

    “We want to gear up our debt on an operational level away from the holding structure. The debt must be where the Ebidta is and we want to raise as much as possible in local currency,” its Chief Financial Officer, Ralph Mupita said in an interview.

    MTN’s net debt rose to 57 billion rand ($4.5 billion) last year from 52 billion rand the previous year. The Johannesburg-based company plans to shift its focus from dollar-denominated debt to that of local currencies where it operates, Mupita said.

    MTN also recently raised money in local currency for its Ghanaian and Ivory Coast operations, according to Bloomberg data.

  • MTN: Iran deal’s collapse may hit our business

    MTN Group, South African telecoms giant, says United State’s President Donald Trump’s decision to pull out of the nuclear accord with Iran may make it difficult to repatriate funds from the country.

    In a statement yesterday, the telco said this may cause its share price to dip.

    Trump had announced on Tuesday that the U.S would reintroduce economic sanctions on Iran, which were lifted under the Joint Comprehensive Plan of Action (JCPOA) agreement.

    Trump said: “We cannot prevent an Iranian nuclear bomb under the decaying and rotten structure of the current agreement.

    “We will not allow American cities to be threatened with destruction and we will not allow a regime that chants ‘Death to America’ to gain access to the most deadly weapons on earth.”

    The company said this decision will “limit the ability of MTN Group to repatriate cash, both dividends and loans, from MTN Irancell”.

    “We will continue to monitor the situation including the response of the Iranian authorities and the other JCPOA members.”

    In 2018, MTN Group has repatriated €88 million from MTN Irancell including the €61 million relating to the full 2017 dividend due to MTN and another €27 million of historic dividends.

    The remaining balance due to MTN is approximately €200 million.

    MTN said it remained committed to its investment in Irancell and to repatriating the balance of legacy cash in Iran while remaining compliant with appropriate legislation.

    In its recently released first quarter financial results, the company reported increased subscription to its services.

  • SEC begins talks with MTN Group on $500m public offer

    The Securities and Exchange Commission (SEC) yesterday confirmed that MTN Group had commenced discussions with it on its proposed $500 million Initial Public Offering (IPO).

    A senior management official of SEC who pleaded anonymity said MTN had commenced discussion with the commission on the IPO.

    Nigeria is the largest of the telco’s 22 markets across Africa and the Middle East.

    The source said although talks were ongoing, the telco was yet to formally file its application for the IPO.

    According to the News Agency of Nigeria (NAN), the source reiterated SEC’s commitment to investors’ protection, and that their interest would be protected in the ongoing discussion, adding that SEC would remain committed to the development of the nation’s capital market and listing of more multinationals.

    Another source at the Nigerian Stock Exchange (NSE), who declined to be mentioned, also said the NSE had not yet received an official filing from the company.

    “We are progressing very well with the Nigerian listing and if market conditions are appropriate, we will conclude that by the end of the year,” MTN Group CEO, Rob Shuter, said in an interview in Lagos. He declined to provide more details on the process.

    There were reports recently that MTN Group Ltd. was perfecting plans to raise about $500 million from the sale of shares in its Nigerian business in the first half of this year.

    Standard Bank Group Ltd. and Citigroup Inc. had been advising MTN on the disposal of as much as 30 per cent of its Nigerian unit on the NSE.

    MTN had agreed to list the Nigerian unit as part of the June 2016 agreement it entered into with the Nigerian Communications Commission (NCC) to resolve the humongous $5.2 billion (later reduced to $1billion) fine for missing a deadline to disconnect unregistered subscribers amid a security crackdown.

  • MTN, Ecobank partner on financial inclusion

    In an unprecedented move to accelerate financial inclusion across Africa, leading Information and Communications Technology (ICT) company, MTN Group and Pan-African banking conglomerate, Ecobank, have come together to provide mobile financial services across the various African countries where they currently operate.

    The partnership which was announced Tuesday 10th April, 2018 at a aunch event in Lagos will see MTN and Ecobank work together in delivering a distinct customer experience by providing value-added mobile financial products and services, allowing them to innovate and enhance access to affordable financial services via MTN Mobile Money and Ecobank Banking services.

    Commenting on the collaboration, MTN Group President and CEO, Rob Shuter said: “Partnerships between banks and mobile money operators are fundamental in the mobile money ecosystem, hence our long-standing partnership with Ecobank in many of our markets aimed at driving financial inclusion. We are excited to be taking this partnership to the next level as this latest development will spearhead innovative initiatives which will deepen financial access on the continent.”

  • MTN, Kaduna partner on Yellow Heart Initiative

    The Kaduna State government and the MTN Foundation, alongside other relevant healthcare agencies, have pledged to tackle the menace of infant and maternal mortality in the state.

    The partnership, which was announced during MTNF Yellow Heart Health Forum in Kaduna, is a demonstration of MTN Foundation’s commitment to reduce maternal and child mortality by increasing awareness of the phenomenon in Nigeria and aligning with global efforts to meet the health targets of Sustainable Development Goals.

    Speaking on MTNF’s decision to support the state government on this initiative, MTN Foundation Director, Alhaji Danladi Mohammed said the Foundation was, indeed, excited to go into a deal that brightens the lives of people, especially within its host the community.

    He said: “We take out time to identify with the plight of members of the community where we carry out our operations and we are sensitive to these plights. It is because of this that the Foundation created a mandate to spend towards improving the state of healthcare, education and economic empowerment.

    “Kaduna State is part of the six states selected for the MTNF Yellow Heart initiative, it is a laudable initiative and we are looking forward to a healthy collaboration with the Government and the good people of Kaduna state. We hope to use the Yellow Heart initiative to address predominant issues such as attitude and cultural practice that hinder women and children from accessing healthcare services in the society.”

    While appreciating the Foundation for the initiative, the state Commissioner for Health, Dr Paul Dogo said the state is very happy to partner with the Foundation on the initiative. Represented by the Permanent Secretary, Kaduna State Ministry of Health, Alhaji Shehu Usman, the commissioner said the initiative is aligned with what the state government is doing to improve healthcare in the state.

    “For the first time in the history of the state, we have a government that is equipping and renovating 255 healthcare facilities across the state. When the government came on board the first bill that was passed was the bill to have primary health care under one roof, that is through an integrated approach. Since then the state government has created specialised hospitals to cater to the varying healthcare needs of the people. These are some of the initiatives of the state Government towards improving healthcare in the state and we are happy about the yellow heart initiative which we promise to give our best support,” he said.

  • MTN, Twinpine partner on mobile advertising

    Nigeria’s leading Information and Communications Technology (ICT) firm, MTN has partnered Twinpine, a Terragon company with specialties in mobile marketing, to unveil the upgraded version of MTN Mobile Advertising.

    Launched at a stakeholders’ gathering at the weekend, the enhanced version of mobile advertising with self-service capability is a smart means of optimising advertising budget. It allows brands and businesses to reach their profiled target audiences with ease.

    The  Chief Enterprise Business Officer, MTN Nigeria, Lynda Saint-Nwafor, who spoke on the occasion, said it is the desire of the telco to hlep its customers to get the best of their businesses.

    She said: “MTN as a brand aims to help its customers get the best of their business using the services that we provide. We’re particularly proud of our mobile advertising as it offers much more than receiving a text message on your phone. MTN Mobile Advertising involves a wide array of channels such as USSD, end-of-call notification, balance enquiry and recharge notification.

    “With MTN Mobile Advertising, you have clear reach, targeting real-time engagement, real-time audience, permission marketing, lasting conversations and a door to a world of opportunities. We believe our customers will get the best of the platform and will be just as impressed as we are.”

    MTN Mobile Ads is a complementary channel for advertising that makes integrated marketing communication plans more comprehensive and airtight.

    As with most digital platforms, MTN Mobile Ads is measurable and can be tracked and the reports developed from the platform will show trends and extensive dynamics of targeted consumers.

    Also, the Chief Executive Officer (CEO) Terragon Group, Elochukwu Umeh said: “The new version of our Mobile Ads platform delivers superior results on mobile for consumer goods, financial services and SMEs. The direct channel offers participating customers and businesses an opportunity to connect with their target audience in their mobile journey from discovery to conversion. It is our hope that more businesses will take advantage of the performance this channel is able to deliver for them.”

    The latest “Mobile Economy” report from GSMA reveal that the mobile industry surpassed five billion unique subscribers last year and that total subscribers would approach six billion by 2025.

    Going by these figures and recent trends, it is clear that ‘mobile’ is the future of global advertising.

  • MTN, Ecobank to deepen African mobile financial services

    MTN Group and Ecobankhave come together in a partnership aimed at providing mobile financial services across the various African countries where they currently operate.

    MTN and Ecobank said they will leverage their existing infrastructure, such as Information and Communications Technology (ICT) and the bank’s pan-African spread respectively to accelerate financial inclusion across the continent.

    The partnership which was cemented yesterday in Lagos, will require MTN and Ecobank working together in delivering distinct customer experience by providing value-added mobile financial products and services. It will also allow both conglomerates to innovate and enhance access to affordable financial services via the MTN Mobile Money and Ecobank’s banking services.

    Speaking after initialing the Memorandum of Understanding (MoU), MTN Group President/ CEO, Rob Shuter, said: “Partnerships between banks and mobile money operators are fundamental in the mobile money ecosystem, hence our long-standing partnership with Ecobank in many of our markets aimed at driving financial inclusion. We are excited to be taking this partnership to the next level as this latest development will spearhead innovative initiatives which will deepen financial access on the continent.” He added that MTN is open to working with other financial institutions in order to bridge the financial divide.

    In his comments on the collaboration, Ecobank’s Chief Executive Officer, Ade Ayeyemi said: “Combining Ecobank’s innovative digital banking range with MTN’s enormous subscriber base, means that virtually every African can now have an instant bank account, savings accounts, loans and make instant remittances on their mobile phone, stating that Ecobank’s digital strategy has long been committed to providing banking facilities to the mass market.

    “We have already made giant strides in our mission to ensure financial inclusion and today’s agreement with MTN will greatly accelerate the easy availability of banking facilities to the previously unbanked.”

    Both CEOs agreed that with this partnership, MTN will leverage Ecobank’s payments infrastructure to facilitate money transfer via mobile wallets across the MTN and Ecobank footprints and will also spearhead new innovations to initiate financial access in Africa and beyond, as well as encourage other financial institutions to leverage on MTN’s ecosystem and spread.

    The partnership is expected to enable Bank-to-MTN Mobile Money wallet and wallet-to-bank transfers and cardless ATM withdrawal for MTN Mobile Money users. The partnership will use the rapid transfer platform to provide MTN Mobile Money users to make intra-Africa funds transfers and provide savings accounts and lending solutions to MTN Mobile Money users.

     

     

  • NCC: MTN pays N165b out of N330b fine

    The Nigerian Communications Commission (NCC) yesterday said telecoms giant, MTN, has paid N165billion out of the N330 billion fine slammed on it in 2015 for subscriber identity module (SIM) registration infractions.

    Its Executive Vice Chairman, Prof Umar Garba Danbatta, spoke when the MTN Nigeria delegation, led by its Chairman, Dr Pascal Dozie, visited the NCC’s Headquarters in Abuja.

    According to Prof Danbatta, MTN has so far had paid more than 50 per cent of the fine following its recent payment of N55billion in March.

    ‘’I am happy to inform you that our agreement with MTN on how and when to pay the fine has been adhered to.

    “Just last month, March, we received a cheque of N55billion from MTN as part of the fine payment plan. This brings the total fine paid by MTN Nigeria to N165billion, that is, more than half of the total fine,’’ he said.

    Speaking during the visit, Dr Dozie appealed to NCC to auction more spectrums to further open up the ICT space and improve the country’s economy.

    He lauded the management team of NCC for its pragmatic approach to the development of the industry, noting that auctioning more spectrums is the way to go considering the vast opportunities it would create for the country.