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Tag: MTN Nigeria

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

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

By Melvin Onwubuke   MTN Nigeria has disclosed that its MoMo Payment Service Bank (PSB) attained 5.3 million active wallet users, as of December 2023. MTN noted that the PSB earned more traction by increasing its agent network in the year by 103,000 to 327,000. From it’s financial records, the company’s active merchant ecosystem, which […]

Telecommunications

MTN MoMo PSB hits 5.3m active wallets in 2023

MTN Nigeria has disclosed that its MoMo Payment Service Bank (PSB) attained 5.3 million active wallet users, as of December 2023. MTN noted that the PSB earned more traction by increasing its agent network in the year by 103,000 to 327,000. From it’s financial records, the company’s active merchant ecosystem, which commenced in March 2023, […]

MTN, Mastercard partner to boost digital connectivity
News

MTN, Mastercard partner to boost digital connectivity

Melvin Onwubuke MTN group and Mastercard have signed a multi-market contract, that will activate a new era of partnership to connect millions of people and small businesses across Africa, with digital tools to operate through secure mobile networks. This was disclosed by MTN in a statement released on Thursday. In the statement, MTN said the […]

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

MTN blames fibre cuts for voice, data service outage

Customers of MTN Nigeria are now experiencing issues using their data and placing calls as a result of an extended outage on the company’s network. Nonetheless, the telecom company claims that several fibre cuts are to blame for the network outage and that its staff is putting in a lot of effort to get things […]

MTN Nigeria explains widespread outage as calls, data disconnect
Tech

MTN Nigeria explains widespread outage as calls, data disconnect

MTN Nigeria has officially acknowledged and addressed a disruptive glitch that reverberated across the country, significantly impacting users’ endeavors. The glitch, eliciting an uproar from numerous customers, created hindrances, preventing them from conducting essential business activities using their SIM cards. In a comprehensive statement diss on social media, the telecommunications provider reassured the public that […]

has presented its 2024 Regulatory Impact Assessment, a comprehensive review aimed at overhauling existing telecom regulations
Telecommunications

MTN, Globacom resolve interconnect debt dispute

Telecommunication companies, MTN Nigeria and Globacom Limited have resolved their interconnect debt dispute, the Nigerian Communications Commission said on Thursday evening. Director of Public Affairs at the NCC, Reuben Mouka, stated in a statement that the commission has officially withdrawn the approval for MTN to disconnect Globacom. This action follows the resolution of the dispute […]

How Nigeria's economic reforms affected MTN - CEO
News

How Nigeria’s economic reforms affected MTN – CEO

By Christian George   The Chief Executive Officer of MTN, Ralph Mupita, said that the economic reforms in Nigeria are a shock to the company. The telecom boss, in an interview on Bloomberg Television aired on Thursday, stressed that it might take the company more time to recover from the pain. He expressed optimism that […]

MTN internet subscription declines over NIN-SIM linkage
Telecommunications

MTN Nigeria embraces gas-powered gen, cuts cost by N570m

A technology company, MTN Nigeria, has said that using gas generators allowed it to reduce its energy costs by more than N570 million. According to The Times, this information was provided in the company’s 2023 climate change report, which also highlighted its investments in clean energy technologies as part of its efforts to cut emissions […]

MTN internet subscription declines over NIN-SIM linkage
Business

MTN raises N125bn with commercial papers

MTN Nigeria has generated N125 billion through the issue of commercial papers series 6 and 7 under its N250 billion Commercial Paper Issue Program. MTN Nigeria made the announcement on Wednesday in a statement signed by its company secretary, Uto Ukpanah. The firm stated that it hoped to raise N100 billion. The offer received 146% […]

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. […]

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