Browsing: MTN Group

The highs and lows in Cameroon's telecommunication network.

According to the most current known statistics, Cameroon had 9.15 million internet users in January 2021, representing an increase from 7.8 million users in the same month the year prior.

Although the fixed-line broadband industry appears to have stagnated, with only extremely sluggish growth in subscriber numbers, the national penetration rate has increased from 2 per cent in 2011 to 34 per cent in 2021. On the other hand, the number of mobile phone consumers in the country increased from 10 million in 2011 to 24 million in 2020, which encouraged growth in internet usage.

Camtel, despite its established position, was left behind by the growth in the telecom industry and is currently seeking to make amends for this lapse. It got 2G, 3G, and 4G licenses in 2020, and in April of that year, it inked a roaming contract with a rival called MTN, which allows it to utilize …

MTN Rwandacell lists shares on Rwanda Stock Exchange

MTN Rwandacell has listed its shares becoming the first telecom company to list on the Rwanda Stock Exchange (RSE).

The listing will see 100 per cent of MTN Rwandancell listed on the market but only 20 per cent of the shares previously owned by Crystal Telecoms’ (CTL) will be floated to the public.

The telecom listed its shares by introduction making shareholders of Crystal Telecoms’ (CTL) direct shareholders in MTN Rwanda. Crystal telecom was established following a share transfer of 20 per cent of shares held in MTN Rwanda from Crystal Ventures to Crystal Telecom in 2015.

Listing by introduction is a way of listing shares that are already in another exchange with the aim of raising capital but since the shares had already been fully paid for that is not the aim but could serve a purpose later.

Rwandans can now own a piece of the country’s biggest …

MTN Group appoints new CEO

MTN Group appoints Chief Financial Officer of MTN Group Ralph Mupita as the new CEO to take over from Rob Shuter as president and CEO who will take over on September 1.

“After a rigorous and extensive search process, we are pleased to have appointed someone of Ralph’s calibre, experience and ability to fill the group president and CEO position. Ralph’s experience as the group CFO, strong knowledge of our businesses and markets, as well as successful background in financial services, M&A and emerging markets, place him in an excellent position to lead the growth and sustainability of the business going forward,” said MTN Group chairman Jonas Mcebisi.

Since April 2017, Mupita has served as the MTN Group CFO and has played a critical role in the development and execution of the group’s strategy, financial performance, capital allocation processes as well as in the resolution of a number of complex …

MTN announces peace with Nigeria and agrees $1.6bn investment

MTN, the South African telecoms group has said it will invest $1.6 billion in Nigeria days after Nigeria backed down on a $2 billion tax demand.

In a meeting with the president of Nigeria Muhammadu Buhari, a team of four top executives from MTN group and MTN Nigeria said they will invest the money over the next three years.

“MTN announced a capital investment programme of $1.6 billion over the next three years to strengthen and expand its network and operations in the country,” said the company in a statement after the meeting.
Nigeria’s President said, “that the Federal Government of Nigeria is committed to providing an enabling environment for businesses to succeed”.

Also Read: MTN Cameroon gets mobile money accreditation

MTN hopes that the peace pact will mark the end of four years of disputes with Nigeria, which at one time was threatening a fine of $5.2 billion, cut …

Former MTN boss Phuthuma Nhleko invests in Kenyan data centre is a Kenyan data centre operator with active operations in Nairobi and Mombasa. The company designs, builds and operates state of the art carrier-neutral data centers to serve a broad spectrum of clients – telecom carriers, ISPs and peering points, IT and cloud providers, content providers, enterprise and financial services customers.

To boost the operations of these data centres, has entered into a partnership with Interxion Holding N.V,  a leading European provider of carrier and cloud-neutral colocation data centre services acquiring a controlling interest in Icolo.

The Netherlands based entity has also entered into a strategic partnership with the Pembani Remgro Infrastructure Fund (PRIF), a South Africa based fund. As part of these transactions, PRIF will invest in Icolo and will collaborate and co-invest with Interxion on expansion initiatives across the African continent. The transaction is expected to close in 1Q 2020.

Upon the closing of …