Browsing: MTN South Africa

Telkom Business has announced the introduction of Telkom Lend, a platform that will enable small businesses to seek money online and receive a response within one day.

• Telkom Business has announced the introduction of Telkom Lend. This platform will enable small businesses to seek money online and receive a response within one-day
• companies are now in charge of their own payments. With funding offers ranging from US$1,175 ( R20,000) to US$ 293,834 (R5 million ) based on monthly revenue, the money can be paid back over three to twelve months on a daily or weekly basis
• The eligibility of applications is determined using Telkom’s proprietary automated scoring mechanism. This saves time and allows entrepreneurs to focus on their enterprises
• Applicants seeking funding must have been in business for at least six months, have a monthly revenue of at least  US$1,763 (R30,000), and have at least three months of trading

Vodacom recently agreed to purchase a co-controlling stake in the fibre assets held by Community Investment Ventures Holdings, increasing the competitive pressure on MTN.

MTN has declared that it will withdraw its operations from the Middle East by the end of 2020 to concentrate on the rapidly expanding African market.

According to AJ Snyman, an investment analyst at Peregrine Capital, the chances of the Competition Commission of South Africa approving the merger in its current shape are “nil.” This is the opinion that Snyman held.

“If the merger goes through, MTN and Telkom will have at least a 50 per cent market share in the mobile area, which is certainly a dominant market position,” Snyman said.

MTN would also gain access to Telkom’s valuable 3.2 gigahertz spectrum, which is suitable for 5G and would give it a dominating spectrum holding, he added. This would be advantageous for MTN.…

MTN, South African multinational mobile telecommunications company is expecting to gather full-year headline profit up to 50 per cent, which is still a slow-down from the previous years attributed by interest on regulatory fines in Nigeria, Reuters reported.

According to Reuters, MTN, which is due to report 2019 results on March 11, 2020, said headline earnings per share (HEPS) would likely be within a range of 438 cents to 506 cents on the IFRS 16 accounting basis adopted at the start of the year.

That compares to 337 cents in the previous year. On a like-for-like IAS 17 accounting basis, MTN expects to report growth in HEPS – a key profit measure in South Africa that strips out one-off items – of between 55 per cent and 75 per cent.

However, that is still slower than the 85 per cent jump the company reported in 2018. It attributed the …