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Tag: MTN Nigeria

MTN Group seeks more investors for MoMo
Investment

MTN Group seeks more investors for MoMo

MTN Group has unveiled a bold plan to enlist three additional investors for its fintech arm, MoMo. This revelation came on the heels of a significant development in the telecom giant’s playbook – a groundbreaking deal with payments processor Mastercard, securing a minority stake in MoMo. The financial prowess of MoMo has been underlined by […]

MTN internet subscription declines over NIN-SIM linkage
Business

MTN reports 39.3% drop in fintech clients in H1 2023

MTN Nigeria recorded a 39.3% drop in fintech users for the first six months of 2023, bringing the number of users to 7 million by the end of June. This information was provided by the corporation in its just-released H1 2023 financial results. MTN claimed that 3.1 million of its 7 million fintech customers, or […]

MTN internet subscription declines over NIN-SIM linkage
Business

MTN suffers N131bn FX loss, earnings drop by 64%

MTN Nigeria Plc’s 2023 second-quarter results have revealed that pre-tax profits decreased dramatically by 64% to N44.6 billion. As a result, its half-year profits decreased to N200.3 billion from N268.6 billion during the same period in 2022. Like the majority of Nigerian businesses, MTN also had a N131.4 billion foreign exchange loss, which reduced profitability. […]

Airtel, MTN, others must get ad campaign approval - NCC
News

Airtel, MTN, others must get ad campaign approval – NCC

The Nigerian Communications Commission has introduced new guidelines requiring MTN, Airtel, Glo, and other Mobile Network Operators to obtain the commission’s approval before running advertising campaigns. These guidelines aim to regulate the conduct of promotional activities by MNOs in Nigeria. Under the 15-page document, MNOs must submit a written request to the NCC for approval […]

MTN to invest $3.5bn in Nigeria's economy
Telecommunications

MTN to invest $3.5bn in Nigeria’s economy

The MTN Chief, Mcebisi Jonas, has revealed that the company plans to invest $3.5 billion in the Nigerian economy over the next five years. He made this known during the meeting at the State House in Abuja where the president of Nigeria, Bola Tinubu, reassured investors in the telecoms industry of his administration’s resolve to remove barriers […]

MTN, Apple Music offer free subscription to Nigerians
News

MTN, Apple Music offer free subscription to Nigerians

MTN Nigeria, the country’s leading telecom services provider, has teamed with the US-based digital music platform, Apple Music, to provide free access to a premium selection of songs as part of efforts to ensure consumers can enjoy excellent entertainment on the move. Customers of MTN who sign up for the service will have access to […]

MTN launches 5G network
Telecommunications

MTN to launch 5G network August 24

MTN Nigeria has announced that it will launch its 5G network by Aug. 24 in line with the directives of the Nigerian Communications Commission. The telecom giant made this known in Lagos on Thursday during the 90th edition of the telecom consumer parliament organised by the NCC. The NCC had in May handed over the […]

MTN launches 5G network
Appointments

MTN appoints Mroue as non-executive director

The board of MTN has approved the appointment of Mazen Mroue as a non-executive director of the company effective June 1, 2022. This is according to a disclosure filed on the website of the Nigerian Exchange Group and signed by the company’s Secretary, Uto Ukpanah. The board at its meeting held on Thursday, May 26, […]

MTN launches 5G network
Telecommunications

MTN contributed 13.5% of FIRS’ total 2021 tax – Report

Nigerian telecoms giant, MTN Nigeria Communications PLC’s total tax contribution to all government agencies including the Federal Inland Revenue Service amounted to N757.6 billion. The company paid a total of N618.7 billion in direct and indirect taxes to the FIRS in the 2021 tax year, which makes it the largest single biggest contributor to taxes […]