Browsing: MTN

Sub-Saharan Africa M&A transactions and fees declined in Q1 2020. Africatel Holdings’ US$1.0 billion sale of PT Ventures to Angolan Sonangol in January was the largest deal in the region during the first quarter of 2020.

Investment banking fees in Sub-Saharan Africa reached an estimated US$128.2 million during the first quarter of 2020, a decline of 15 per cent from last year’s strong start.

Advisory fees earned from completed mergers and acquisitions (M&A) transactions generated US$33.5 million, down 38 per cent year-on-year, while syndicated lending fees declined 47 per cent to US$35.7 million.

The authors of the report, Refinitiv, note that Equity capital markets underwriting fees more than tripled to reach US$36.7 million, a first quarter total only exceeded twice since the company’s records began in 2000.

China’s Belt and Road Initiative, AfCFTA to anchor Africa’s economy

Bond underwriting fees increased 20 per cent to US$22.3 million, again the third-highest first quarter fee total since our records began.

Almost one-quarter of fees in the region during the first quarter of 2020 were earned from government and agency deals.  Almost two-thirds of all fees were generated in …

MTN Poster

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 …

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 …

MTN starts process to develop 5G technology

MTN has begun the process of developing 5G technology as part of an evolution plan across its operations.

Speaking at a joint C-Band 5G trial launch at the AfricaCom meeting in South Africa, MTN Group chief technology officer, Mr Giovanni Chiarelli said the future (technology) had arrived as the world innovates amid a revolutionised ICT space.

During the C-Band 5G trial launch, MTN signed a Memorandum of Understanding(MoU) with Huawei Technologies. The MoU will allow the two companies to research and innovate towards developing 5G technology.

“Three years ago, this was unheard of. There was no infrastructure to support 5G. However, with research, we have moved greatly. With this technology, you do not need fibre and more people will be keen to use 5G. The future is here,” Mr Chiarelli said.

The MTN and Huawei partnership will establish a Joint 5G Innovation Programme, which will assess and work …

MTN Rwanda launches digital inclusion drive - The Exchange

MTN Rwanda announced the launch of its “We’re Good Together” initiative, derived from the MTN Global Campaign that was launched earlier this month in South Africa.

The aim of the MTN campaign is to demonstrate how it has changed lives by improving digital access, empowering, driving financial inclusion,  enabling SMEs, creating jobs and broad community development, among other things.

 “MTN believes in creating shared value that enables shared prosperity, but we can’t do this on our own – we continue to seek out like-minded partners so that we can do good together. We see ourselves as a partner to the development of Rwanda, so whatever it is we do, we ensure it has a long-lasting impact in our society,” said Mitwa Ng’ambi, MTN Rwanda CEO while speaking about the company’s role in Rwanda

He said that the company seeks to tell its story that doing good business extends …

Jumia Food Kenya has announced the launch of Jumia Prime - a subscription package that allows customers pay a standard one, three or six months fee.

Jumia Food Kenya has announced the launch of Jumia Prime – a subscription package that allows customers pay a standard one, three or six months fee.

This also guarantees unlimited free deliveries on all orders placed on the Jumia Food app or website.

The service, is a first of its kind in Africa, and was introduced to Kenyans aimed at enhancing customer experience and loyalty without having to worry about paying any delivery fees. 

Managing Director East Africa On-Demand Services, Shreenal Ruparelia says the service is not only limited to food but also on alcohol, groceries, shopping or pharmacy needs.

READ ALSO:Jumia’s listing at New York Stock Exchange was long coming

Ruparelia noted the introduction of Jumia Prime is part of the company’s objective to develop innovative ways to help customers order online without having to pay additional delivery services.

This is also our way to expand

GSMA Rwanda

Rwanda’s mobile industry has joined forces with the GSMA to drive mobile internet adoption and increase digital literacy in the country.

Local operators Airtel and MTN will commence a program of activity around digital inclusion as part of the GSMA’s We Care initiative in Rwanda. We Care is launched in collaboration with Rwanda’s Ministry of ICT and Innovation and the Rwanda Utilities Regulatory Authority (RURA), supporting government efforts to boost ICT penetration and digital services across the country.

“I am glad to see the mobile operators, Airtel and MTN, coming together to work towards a common goal that will be beneficial to society,” said H.E Paula Ingabire, Minister of ICT & Innovation of Rwanda.

“Smartphones are important ICT tools that can be used to access key digital services: education and information, healthcare, financial services, amongst others. Increasing digital inclusion in Rwanda will, therefore, go a long way in empowering our …