MTN Group plans to proceed with a public offer to sell up to 575 million shares in its Nigerian business.
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A Nigerian tax tribunal has cleared MultiChoice Group to appeal a disputed U$4.4 billion tax bill in the country, according to people familiar with the case.
MTN Group is set to complete the sale and leaseback of South African towers by the end of next month, while a separation of both the fintech and fibre units is also under way.
MTN Nigeria plans to invest R21-billion over the next three years to expand broadband access in Africa’s most populous country, its CEO said on Monday.
MTN Group’s Nigerian unit has reported a 27.6% increase in half-year Ebitda, despite a sharp decline in subscribers brought about by regulatory restrictions on new Sim sales and activations.
MTN’s service in Nigeria could be disrupted as a result of rising insecurity in different parts of the country, the local unit of South Africa’s telecommunications group said on Tuesday.
MTN Group on Wednesday posted a near 18% jump in first quarter revenue, led by double-digit growth in commercial operations across South Africa, Nigeria and Ghana.
Lagos-listed MTN Nigeria Communications shed five million mobile subscribers in the first three months of the year as it struggled with customer churn and restrictions on Sim card sales and activations.
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.
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.