Browsing: MTN Nigeria

MTN suffers S&P ratings downgrade

Ratings agency Standard & Poor’s (S&P) has downgraded MTN’s credit rating and put the mobile network on a watch negative amid a US$5,2bn fine in Nigeria. S&P said on Thursday that it’s lowering its ratings on MTN from “BBB” and “zaAA+” to “BBB-“

MTN given 18 days to pay $5,2bn fine

The Nigerian Communications Commission (NCC) shows no sign of backing down over a record-setting US$5,2bn (R72bn) fine against the local subsidiary of South African-headquartered mobile phone group MTN. According to a report by

How MTN got into so much trouble in Nigeria

On Monday, the market learnt that the Nigerian Communications Commission (NCC) had hit MTN with a fine of1,04 trillion naira for failing to deactivate unregistered Sim cards by a regulatory deadline. The fine, which equates to more than R70bn, is more than twice the entire group’s

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More trouble for MTN in Nigeria

The Nigerian Communications Commission (NCC) appears to be playing hardball with MTN Nigeria over a US$5,2bn (R71bn) fine it has imposed on the company. According to a report published by Nigerian newspaper Leadership, the NCC has suspended all regulatory

JSE shining spotlight on MTN

The JSE is engaged in what its GM for issuer regulation, Andre Visser, is terming “focused conversation” with the sponsor of MTN, Deutsche Securities. It is doing so in the interests of the telecommunications operator’s shareholders, Visser said. The remarks

MTN earmarks $3bn for Nigeria upgrades

MTN plans to spend US$3bn (about R31bn) on its network in Nigeria over the next three years to improve quality of service. The company has previously had quality problems with its network in the West African country. According to website BDlive, the Nigerian Communications Commission banned MTN and two other mobile operators

MTN in Ghana told to stop sales

Ghana’s National Communications Authority has ordered MTN, that country’s largest mobile operator, to stop adding new subscribers to its network because network quality “continues to deteriorate”. MTN Ghana has 11m subscribers in a country of 25m people, according

Threat of sanctions looms over MTN Nigeria

Nigeria’s telecommmunications authorities Thursday threatened to impose sanctions on an affiliate of SA’s giant mobile phone service provider, MTN, over alleged poor service to subscribers. The Nigerian Communications Commission (NCC) issued the warning to MTN Nigeria Communication in a

Mobile broadband boom awaits Nigerians

The GSMA, which represents the interests of mobile operators worldwide, believes the Nigerian government can unlock up to N862bn (R37,7bn) in GDP growth by 2015 by supporting the roll-out of mobile broadband

MTN raises R16bn for Nigeria expansion

MTN has made it clear that it believes growth in Nigeria’s telecommunications market is far from over. The SA-based group’s largest subsidiary, MTN Nigeria, has raised more than R16bn to fund the expansion of its network in the populous West African nation. MTN on Wednesday told shareholders that it has recei

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