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Tag: MTN

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

MTN suffers system glitch, wipes customers debt

A system glitch in MTN’s system structure has led to the payment of loans owed by subscribers of the network in the early hours of Saturday. Nonetheless, the subscribers are already celebrating and expressing gratitude to the corporation since they think the telecom operator purposefully cancelled their loans. However, MTN in response to users who […]

MTN launches microinsurance arm 'Cover by MoMo' in Uganda
News

MTN raises N52.89bn through commercial papers

  MTN Nigeria successfully raised N52.89 billion through its Series 8 & 9 Commercial Paper issuance, part of its N250 billion Commercial Paper Issuance Programme. The completion of the CPs was disclosed in a filing with the Nigerian Exchange Limited after last Thursday’s announcement. The fully subscribed offer included 182-day commercial papers with a 14% […]

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 […]

NGX Group reports N5.2bn after tax
featured

MTN, Flour Mills, others cut NGX market valuation by N67bn

The market’s reaction to the Supreme Court’s ruling on the 2023 general election cases has resulted in a N67 billion decline in the market capitalization of the Nigerian Exchange Limited. According to The Punch, this was the local stock exchange’s second day in a row with negative trading. Depreciation in the share values of MTN Nigeria (-0.40 percent), […]

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 […]

European retailers urge EU to tackle high Visa, Mastercard fees
News Tech

Mastercard to buy minority stake in MTN’s Momo

Global leader payment solutions provider, Mastercard Inc. has agreed to acquire a minority stake in the fintech unit of MTN Group, valued at $5.2 billion. “Signing of the definitive investment agreements is expected to occur in the very near term,” MTN Chief Executive Officer Ralph Mupita said in a statement on Monday. Over 46 million […]

MTN launches 5G in Uganda
Business

MTN launches 5G in Uganda

Alex Omenye Foremost telecommunications, MTN has launched its 5G network in Uganda. The first 5G network in East Africa was launched on Friday by the telecom company MTN Uganda, a branch of the MTN Group in South Africa. With almost 15 million subscribers, MTN has Uganda’s largest customer base. It mostly contends with a Bharti […]

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 […]

Friendly market policies'll boost Nigeria's credit profile - NGX
Business

PHOTOS: Tinubu receives MTN chair, NCC boss at Aso Villa

President Bola Tinubu met with the Executive Vice Chairman of the Nigerian Communications Commission, Dr. Umar Garba Danbatta,  and the Group Chairman of MTN, Mr. Jonas Mcebisi, who was accompanied by his team. The meeting took place on Friday in the State House in Abuja, with negotiations taking place behind closed doors. MTN is one of Nigeria’s top […]

NCC dismisses rumors of telecom tariff increase
featured Telecommunications

Phone users hit 233m, add 2.5trn to GDP – NCC

The National Communications Commission has stated that as of April 2023, there were 223.8 million mobile phone customers in Nigeria, and in the first quarter of 2023, telecommunications and ICT services contributed N2.508 trillion to the country’s GDP. According to Nairametrics, the NCC’s director of public affairs, Reuben Muoka, revealed this in a statement on Tuesday. […]

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