Shares of MTN Nigeria hit an all-time high on Monday after receiving approval to operate mobile money services in Africa’s most populous country.
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MTN Group’s shares surged in Johannesburg after it moved a step closer to getting a licence to operate lucrative mobile money services in Nigeria.
Africa is central to Swedish music streamer Spotify’s plans to extend its reach to a billion customers.
Helios Towers plans to use an expansion into Oman to further its presence in the Middle East and North Africa, while it is also eyeing a potential deal in South Africa with MTN Group.
Nigerian banks are only now starting to counter the emerging fintech firms riding the online wave spurred by the pandemic. They’re also deploying their political muscle with regulators.
Mastercard will invest $100-million in Airtel Africa’s mobile money operations, valuing the business at $2.65-billion, the London-listed company said on Thursday.
London-listed Helios Towers has reached agreements to buy and deploy over 2 500 high sites from and for Airtel Africa Group in deals that potentially give it access to four “attractive new markets”.
Facebook and Google are spending billions trying to get more people online in Africa, but the Internet giants are facing a backlash from governments worried about technology being used to remove them from power.
Airtel Africa plans to sell about 4 500 telecommunication towers across five countries including Tanzania and Madagascar to help reduce $3.5-billion of debt and prepare for looming bond repayments.
Helios Towers rose 1.8% in London after raising R5.4-billion in a long-delayed share sale that gives investors a foothold in Africa’s fast-growing wireless tower industry.