MTN Nigeria has signed an N200 billion medium-term loan agreement with 12 Nigerian banks.FBN Quest is the facility agent of the loan deal which was signed on Wednesday.According to the company, the loan is to help fund its service expansion plans to underserved and unserved parts of the country.The banks which signed the loan are Citibank Nigeria Limited, Diamond Bank [...]
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Esther Akinnukawe, the human resource executive of MTN Nigeria, says the company does not have casual employees.Akinnukawe made this statement on Wednesday in reaction to allegations by the Nigeria Labour Congress that the organisation has a high percentage of casual staff.On Monday, July 9, members of the Congress embarked on a three-day protest and picketing of various MTN offices across [...]
MTN Nigeria says it added 2.3 million subscribers between January and March 2018 to report a total customer base of 54.5 million.In a statement released on Thursday by Funso Aina, the company's PR and protocol manager, it said its strong performance in the first quarter was supported by "growth in data revenue and increased scale."It said constant currency (organic) service [...]
MTN Nigeria in collaboration with Nova-Lumos has introduced mobile electricity, a service where you can have power on-demand and pay as low as N200 from your mobile phone.Lumos mobile electricity, which was launched in February, provides solar electricity for powering small electronic appliances to customers on a lease to own basis."In keeping with its commitment of improving the quality of [...]
Abba Kyari, chief of staff to President Muhammadu Buhari, has denied the rumours that he was on suspension, saying he went on a two-week leave.In an unusual manner, Kyari stopped over at the press gallery of the council chamber while on his way to the president's office.Exchanging pleasantries with journalists, Kyari jocularly told them to tweet that he was back [...]
The senate has decided to investigate MTN Nigeria for allegedly taking out $12 billion from the country's economy within 10 years.The senate took the decision after Dino Melaye, lawmaker representing Kogi west senatorial district, moved a motion at plenary on Thursday.While moving the motion, Melaye alleged that between 2006 and 2016, MTN used four Nigerian banks and a then serving [...]
MTN Group, Africa’s biggest telecommunications network, posted a $357 million half-year loss, as its Nigerian subscriber base fell to 58.9 million in 2016.MTN Nigeria subscribers decreased by 3.7 percent, while the its revenue and EBITDA fell by 4.8 percent and 7.5 percent respectively.“MTN Nigeria continued to experience a challenging operating environment impacted by the disconnection of the final batch of [...]
MTN Group just recorded its first-ever earnings per share (EPS) loss as a publicly traded company — a loss it blamed on the Nigerian Communications Commission (NCC) N330 billion fine.In a statement released on Thursday, MTN said it would announce the half year results on Friday, but it gave shareholders a heads-up on the coming loss.“Following the trading statement published on [...]
MTN Group is set for the first half-year (H1) loss in at least 20 years as the Nigerian communications Commission (NCC) N330 billion fine cuts its profit drastically.In a statement on Friday, MTN told shareholders to expect “negative basic headline earnings per share (HEPS) and basic earnings per share (EPS) for HY2016”.In the first half of 2015, MTN reported headline [...]
MTN group, one of Africa’s largest telecommunications network, says it has no plans to get listed on the Nigerian Stock Exchange (NSE).The company denied media reports saying it was planning to get listed in Nigeria, adding that only MTN Nigeria, not the MTN group, could be listed on the NSE.Chris Maroleng, corporate affairs executive of MTN Group, released a statement [...]
MTN group says it expects the Central Bank of Nigeria (CBN) to devalue the naira within the 230 to 240 band.According to Reuters is reporting, Brett Goschen, speaking through MTN's chief financial officer, said the company expects a 22-percent devaluation at some point this year.With the naira currently trading at 197 against the dollar, the Nigerian government has insisted it would not devalue the naira [...]
MTN Nigeria says that despite the "severe impact" of "heightened regulatory pressure" on its operations, it will continue to invest in Nigeria, especially as it contributes 4.5 percent to the country’s Gross Domestic Product (GDP).Announcing its 2015 fiscal year results in Nigeria, MTN said 2015 was a very challenging year for its Nigerian market, blaming “weak economic conditions” and dollar scarcity for [...]
MTN Nigeria has set aside N120 billion (R9.287 billion) for the settlement of a N780 billion fine imposed on it by the Nigerian Communications Commission (NCC).The group, in its 2015 fiscal year final results, saw its profit per share lose 51 percent, while its revenue marginally increased by 0.1 percent.“MTN Nigeria recorded a R9,287 million (N120 billion) provision for the [...]
The Nigerian Communications Commission (NCC) has made a 35-percent reduction to MTN Nigeria’s fine for failure to disconnect 5.1 million unregistered SIM cards.MTN Group confirmed the development on Thursday in South Africa, just after the resignation of Michael Ikpoki, MTN Nigeria’s chief executive officer (CEO).The fine was reduced from N1.04trn ($5.2bn) to N674bn ($3.4bn), MTN confirmed, adding that it had [...]
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 [...]
MTN Group, one of the largest telecommunications company in Africa, has experienced a further decline in its shares, which have now hit the biggest three-day drop in seven years.MTN’s shares plunged about 19 percent this week in Johannesburg, leaving the company valued at about $21 billion (288 billion rand), which represents a loss of about $2 billion worth in less than 72 hours.The [...]
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