MTN’s Nigerian unit has been awarded a 5G licence, paving the way for the continent’s largest wireless carrier to supply faster Internet to consumers and businesses.
Since much of Africa’s population has limited access to financial services, the continent is one of the world’s most attractive banking opportunities as incomes rise.
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.
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.
MTN Group and Airtel Africa were given the green light to resume the sale of new Sim cards in Nigeria following the implementation of a new policy linking them to national ID numbers.
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”.
Nigeria’s telecommunications regulator has ordered mobile phone users to link their devices to their national identity numbers, raising the prospect of millions of lines being blocked.
Nigeria has ordered telecommunications companies, including MTN Group, to suspend the sale of Sim cards while authorities check their compliance with registration guidelines.
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.