Accra’s share market was poised for a massive boost in liquidity on Wednesday when shares started trading in MTN Group’s local unit.
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MTN Group’s unit in Ghana raised 1.1-billion cedis (R3.5-billion) selling about a third of the shares the wireless carrier made available in an initial public offering.
MTN Group is facing pressure to list its unit in Uganda as Africa’s largest mobile phone company seeks to renew a licence in the country.
MTN has kick-started the process of listing shares on the Ghana Stock Exchange. The telecommunications group said in a statement on Tuesday that MTN Ghana has launched an initial public offering, which will be
A record wave of stock is heading for Ghana’s market as MTN Group is said to prepare to sell a chunk of its local unit to investors for about $790m (R9.2bn). The shares should be snapped up, the country’s
MTN Group’s Ghanaian unit lifted its target for an upcoming initial public offering by more than a half to 3.48bn cedis (R9.3bn), according to two people familiar with the matter. Africa’s biggest mobile phone company
MTN Group’s Ghanaian unit appointed local brokerage IC Securities Ghana as its main sponsor for an upcoming initial public offering in the West African nation, according to five people familiar with the matter. Africa’s biggest
MTN Group is considering selling about $500m in shares of its Ghana business, according to people familiar with the matter. The company is approaching high-net-worth individuals in the country about
MTN Group chief financial officer Brett Goschen is stepping down. He will leave at the end of September “to pursue other interests”, the telecommunications group said in a statement to shareholders on Monday morning.
South Africa’s MTN Group has secured two important licences in West Africa, one in Ghana and the other in Côte d’Ivoire, at a combined cost of R3,5bn.
The group said it has secured a 15-year 4G/LTE licence in the 800MHz “digital dividend” spectrum band in Ghana for a purchase