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Tag: MTN Nigeria

MTN winds down BEE scheme, pay out modest returns to investors
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MTN Nigeria loses top earner spot after ₦400.4bn loss

MTN Nigeria has lost its position as the highest-earning subsidiary of the MTN Group, following a post-tax loss of ₦400.4 billion ($260.2 million) in 2024 for the first time since 2019. The Nigerian unit fell behind the West and Central Africa region and South Africa in revenue rankings, marking a significant shift in the telecom […]

MTN winds down BEE scheme, pay out modest returns to investors
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MTN Nigeria’s share price soars after telecom tariff hike

MTN Nigeria’s share price surged by 9.87% on Tuesday, closing at ₦256, following regulatory approval of a 50% increase in telecom tariffs. This marks the company’s highest share price since March 2024, when it traded at ₦267.80. The price jump reflects renewed investor confidence in MTN’s profitability prospects after enduring two years of financial losses. […]

MTN winds down BEE scheme, pay out modest returns to investors
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MTN Nigeria leads 5G speed after $120m investment

MTN Nigeria has emerged as the leader in internet speeds across West and Central Africa, with the latest Ookla Speedtest Intelligence data revealing that the telecom giant now boasts the fastest download and upload speeds in the region. This achievement follows an investment of over $120 million into its 5G network infrastructure. In the second […]

MTN Nigeria plans public offer to sell 11% stake
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MTN Nigeria switches to eco-friendly paper-based SIM cards

MTN Nigeria announced on Friday the launch of paper-based biodegradable eco-friendly SIM cards, aligning with its Project Zero initiative aimed at reducing greenhouse gas emissions and achieving net-zero emissions by 2040. The company stated that these biodegradable SIM cards are environmentally safer, supporting product lifecycle management in a way that promotes circularity and reduces waste, […]

MTN Nigeria plans public offer to sell 11% stake
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Osun govt, MTN bicker over alleged unpaid N1bn right-of-way

The Osun State government and tech giant, MTN Nigeria are presently embroiled in a dispute over an alleged unpaid Right of Way (RoW) charge and penalty totaling more than N1 billion. According to the documents, the Osun State Government is requesting that the tech company pay N945 million in RoW fees for 270 kilometers of […]

MTN Nigeria plans public offer to sell 11% stake
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Court grants students who hacked MTN N50m bail

A Federal High Court in Lagos granted N50 million bail each to two students, Timothy Oluwabukola from Moshood Abiola Polytechnic and Anthony Odemerho from Resign Regal Academy, on Monday. The students are accused of hacking into MTN Nigeria Communications’ computers and stealing airtime and data valued at N1.9 billion. Justice Akintayo Aluko approved their bail […]

MTN Nigeria plans public offer to sell 11% stake
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MTN Nigeria acquires minority stake in MoMo PSB for N6.95bn

MTN Nigeria has acquired the minority shares in MoMo Payment Service Bank (MoMo PSB) for N6.95 billion. This was disclosed in a statement the company filed with NGX on Monday. According to the statement, MTN Nigeria has completed the acquisition of the 7.17% stake in MoMo PSB held by Acxani Capital; making MoMo PSB a […]

MTN winds down BEE scheme, pay out modest returns to investors
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MTN Nigeria reports major losses amidst FX fluctuations

MTN Nigeria, the country’s largest telecommunications provider, has reported a significant loss after tax of ₦519 billion for the first half of 2024. This marks a dramatic increase from the ₦85 billion loss recorded during the same period in 2023. The loss is largely attributed to fluctuations in foreign exchange rates and accelerating inflation, which […]

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MTN paid N549bn taxes, levies to FG in 2023

MTN Nigeria Communications Plc has revealed that it paid N549.3 billion in taxes and levies to the Nigerian government. This was disclosed in the company’s 2023 Sustainability Report filed with the Nigeria Exchange Limited. According to the report, MTN Nigeria increased its connectivity to 79.7 million people, achieving 92.9% countrywide coverage. “We are proud of […]

MTN winds down BEE scheme, pay out modest returns to investors
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MTN commits to smartphone affordability, digital Inclusion

Melvin Onwubuke MTN Nigeria Chief Executive Officer, Karl Toriola reaffirmed the company’s commitment to increasing affordability and accessibility of mobile phones in Nigeria. The challenges and opportunities in the Nigerian market, as well as the strategies of MTN to promote digital inclusion, were highlighted recently by Toriola in an interview on ARISENEWS. Toriola acknowledged that […]

MTN MoMo PSB’s active wallet surges to 5.3 million in 2023
Telecommunications

MTN commits to smartphone affordability, digital Inclusion

Melvin Onwubuke   MTN Nigeria Chief Executive Officer, Karl Toriola reaffirmed the company’s commitment to increasing affordability and accessibility of mobile phones in Nigeria.   The challenges and opportunities in the Nigerian market, as well as the strategies of MTN to promote digital inclusion, were highlighted recently by Toriola in an interview on ARISENEWS.   […]

MTN Nigeria Chief Executive Officer, Karl Toriola reaffirmed the company's commitment to increasing affordability and accessibility of mobile phones in Nigeria.
Telecommunications

MTN commits to smartphone affordability, digital Inclusion

By Melvin Onwubuke   MTN Nigeria Chief Executive Officer, Karl Toriola reaffirmed the company’s commitment to increasing affordability and accessibility of mobile phones in Nigeria. The challenges and opportunities in the Nigerian market, as well as the strategies of MTN to promote digital inclusion, were highlighted recently by Toriola in an interview on ARISENEWS. Toriola […]

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