Thursday, September 20, 2018

Tag "MTN Group"

    MTN: No specific date for our IPO

MTN: No specific date for our IPO

MTN Group says there is no specific date for its initial public offering yet as it is still perfecting details of the proposed listing.A spokesperson of the company who spoke to NAN on Monday said details of the IPO will be announced at the appropriate time.NAN reports that both the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) [...]

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    MTN: Trump’s Iran decision may affect business

MTN: Trump’s Iran decision may affect business

MTN Group, South African telecommunications company, says US President Donald Trump's decision to pull out of the nuclear accord with Iran may make it difficult to repatriate funds from the country.In a statement released on Wednesday, the company said this may cause its share price to plummet.Trump had announced on Tuesday that the US would reintroduce economic sanctions on Iran, [...]

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    MTN holds strategy sessions on IPO listing, partnership with Ecobank

MTN holds strategy sessions on IPO listing, partnership with Ecobank

MTN board members on Monday met with Vice-President Yemi Osinbajo over the proposed IPO listing on the Nigerian Stock Exchange (NSE).The meeting was part of the company's strategic sessions in Nigeria to underscore its commitment to the country.The sessions were also geared towards finalising a partnership with Ecobank Group on the provision of mobile financial services across Africa.The delegation which [...]

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    MTN to pay dividends despite loss

MTN to pay dividends despite loss

MTN Group says it will keep dividends payout to its investors despite a big financial loss it suffered in 2016.The telecommunication firm announced its first annual loss in 22 years on Thursday, blaming it on a regulatory fine in Nigeria.MTN agreed to pay a fine of 330 billion naira ($1.1 billion), reduced from $5.2 billion, in June last year after a prolonged [...]

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    MTN posts $200m full-year loss —  first in 22 years

MTN posts $200m full-year loss — first in 22 years

MTN Group has announced that it lost $200m in 2016 – the first full-year loss of the company in its 22 years of existence.TheCable had earlier reported that the South African telecommunications company was expecting a full-year loss as a result of the N330bn regulatory fine imposed on it by the federal government.In 2016, the Nigeria Communication Commission (NCC) imposed the fine [...]

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    MTN blames ‘imminent’ full-year loss on NCC fine

MTN blames ‘imminent’ full-year loss on NCC fine

MTN Group says it is expecting to report a full-year loss because of the N330bn regulatory fine imposed on it by the federal government.In a statement released on Wednesday, MTN said the fine took 4.74 rand from full-year earnings per share.The telecommunications outfit was fined N330bn for its failure to disconnect 5.1 million unregistered SIM cards.In 2016, it recorded a [...]

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    MTN must respect NCC laws, says S’African VP

MTN must respect NCC laws, says S’African VP

Cyril Ramaphosa, vice president of the South Africa, has called on MTN Nigeria to respect the sanctions imposed on it by the Nigerian Communications Commission (NCC).Speaking to lawmakers in the Cape Town, Ramaphosa said the sanctions would affect South Africa’s revenue generation, but MTN should follow the operating rules.“We will obviously be taking note of what is happening with a [...]

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    Nigeria boost triggers 8.7% rise in MTN’s full-year earnings

Nigeria boost triggers 8.7% rise in MTN’s full-year earnings

Africa's largest telecom provider, MTN Group on Wednesday posted an 8.7 percent rise in full-year earnings after a revenue boost from Nigeria, which posted a 12 percent revenue increase despite regulatory and operational challenges.Although the country’s performance was below MTN's own expectations, it warned of possible headwinds as weaker oil prices could bring economic doubts to its key market."In Nigeria, [...]

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Exchange Rates

September 20, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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