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Tag: MTN

Telecommunications

Telecel acquires MTN assets in Guinea-Bissau, Guinea-Conakry

In preparation for its upcoming initial public offering in the next three years, Telecel Group, an African focused telecommunications company, recently acquired two West African units from MTN Group Ltd., Africa’s largest mobile operator. The acquired assets include the debt and equity of MTN in Guinea Bissau and Guinea-Conakry, which is another strategic move by […]

MTN winds down BEE scheme, pay out modest returns to investors
Telecommunications

MTN to exit Guinea-Bissau, Conakry, amid financial difficulties 

MTN has signaled a potential departure from Guinea-Bissau, Guinea-Conakry, and Liberia, as it highlighted numerous challenges in the West and Central Africa region. The CEO Ralph Mupita noted inflation and currency devaluation as major issues across several markets.  In Guinea-Bissau and Guinea-Conakry, MTN holds a significant portion of the market share, approximately 30%, according to […]

MTN winds down BEE scheme, pay out modest returns to investors
Uncategorized

MTN Group revenue surges despite inflation

MTN Group has announced a notable surge in revenue and subscriber numbers despite facing challenges throughout 2023. According to the telecommunications company, its revenue soared by 13.5% to R210 billion ($11 billion). Data revenue accounted for R84 billion ($4.4 billion), voice revenue contributed R83 billion ($4.3 billion), and MTN MoMo, its fintech revenue arm, totaled […]

MTN internet subscription declines over NIN-SIM linkage
News

MTN Nigeria Plc reports first loss since listing

MTN Nigeria Plc reported their first loss before taxes of N177.8 billion, as opposed to a pre-tax profit of N518.8 billion the year prior. The loss resulted in the total loss of investors’ money. The Times reported that, the corporation blamed the losses on a significant foreign exchange loss that increased from N81 billion in […]

MTN Nigeria CEO advocates local assembly to lower smartphone costs
News

MTN Nigeria CEO advocates local assembly to lower smartphone costs

The Chief Executive Officer of MTN Nigeria, Karl Toriola, has emphasized the high cost of mobile phones as a barrier to digital inclusion in Nigeria. Toriola mentioned this during a recent interview with Arise TV. According to him, while worldwide demand has resulted in a decrease in smartphone costs, Nigeria alone may not generate enough demand to […]

NCC orders MTN to disconnect Globacom amid interconnect debt dispute
Telecommunications

NCC orders MTN to disconnect Globacom amid interconnect debt dispute

The Nigerian Communications Commission has authorized MTN to disconnect Globacom partially due to the former’s failure to pay interconnect debt. According to Nairametrics, Globacom subscribers will be unable to make calls to any MTN number as a result of the partial disconnection. Glo consumers, however, can receive inbound calls from MTN customers. The NCC made the announcement […]

Starlink raises hardware costs in Nigeria by 112%
Banking

MTN to partner Starlink, expand service in Nigeria, others

The Pan-African telecommunications business, MTN, has stated that it is in talks with numerous satellite service providers, including Elon Musk’s Starlink, in order to expand its services to underserved areas throughout its operational market. The business specifically stated that there is a continuing collaboration with SpaceX’s Starlink, with enterprise-grade trials currently happening in Rwanda and Nigeria. MTN […]

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

MTN Nigeria raises N72.1bn via Commercial Paper issuance

MTN Nigeria Communications Plc has concluded series 10 commercial paper issue as part of its expanded N250 billion commercial paper issuance strategy. According to The Times, this was included in the company’s notification to the investing public and Nigerian Exchange Limited. The telecom giant claimed in a statement signed by Company Secretary, Uto Ukpanah that it […]

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

2,500 ATC towers deal still stands – MTN Nigeria

Technology company, MTN Nigeria, has announced that it has no intention of changing its mind about leasing 2,500 of its tower sites to ATC. According to The Times, this was said by MTN in a statement released on Tuesday in response to a Reuters story that claimed IHS, the previous tower contractor, was going to present […]

MTN, Banking stocks fuel NGX's bullish run
Business

MTN, Banking stocks fuel NGX’s bullish run

This week’s first trading day saw investors gain N70 billion, which gave the Nigerian Exchange Limited a positive start. The Punch reported that the stocks of AccessCorp, United Bank for Africa, Zenith Bank, First Bank of Nigeria Holdings, and MTN Nigeria were the main drivers of the local exchange’s trend. The value added to the market […]

MTN internet subscription declines over NIN-SIM linkage
Telecommunications

MTN re-examines tower contracts over fuel, foreign exchange expense

MTN Nigeria is currently renegotiating periodic reviews of the company’s tower contracts. The Punch reported that the company pointed out that these contract renegotiations are critical to lessening the effects of increasing energy prices and FX liberalization. The company made this announcement in light of the recent tower contracts it awarded to ATC and the upcoming […]

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