Browsing: MTN Nigeria

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MTN inches closer to Nigeria listing

MTN Group has been having a tough time of it in Nigeria, its most lucrative market. Protesters last week vandalised the company’s headquarters in the capital, Abuja, in retaliation for xenophobic

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MTN to report a full-year loss

Telecommunications group MTN warned on Wednesday that it will report a loss for the 2016 financial year due in large part to the regulatory fine imposed on it in its biggest market, Nigeria. It said it expects to report a loss in both basic headline

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MTN may put off Nigeria listing to 2018

MTN Group may put off plans to list its Nigerian operation until 2018 as Africa’s largest wireless carrier works to resolve a regulatory dispute and awaits an economic recovery in the continent’s most populous country. “It’s a work in

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MTN Nigeria listing in jeopardy

MTN Group’s plan to sell shares in its Nigerian unit on the local stock exchange next year is at risk following allegations by lawmakers that Africa’s biggest wireless carrier illegally moved almost

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Nhleko sells R123m in MTN shares

MTN Group executive chairman Phuthuma Nhleko has sold shares worth about R123m as he prepares to hand over the day-to-day running of Africa’s biggest wireless company to incoming CEO Rob Shuter. Nhleko will also benefit from the

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MTN SA’s margins leap higher

Margins at MTN South Africa have shown strong improvement in the third quarter, the telecommunications group said in a statement to shareholders on Monday. Revenue improved by 3,6% quarter on quarter, while margins

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MTN followed rules in Nigeria, it says

MTN Group, responding in detail to allegations that the wireless carrier illegally moved more than US$14bn out of Nigeria, said central bank approvals were obtained before any dividends were issued. “No dividends were declared

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MTN’s Nigerian woes deepen

MTN Group may have illegally moved more than the previously claimed US$14bn out of Nigeria, a lawmaker said, citing early findings from an investigation into the allegation by international forensic experts. “We have realised from

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MTN may pull plug on $220m Visafone deal

MTN Group is considering abandoning the acquisition of Nigerian Internet provider Visafone Communications after the country’s industry regulator ruled that broadband spectrum shouldn’t be included in the deal, according to two

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MTN weighing R6,8bn Ghana share sale

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

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