MTN Group suspends 2020 final dividends; explains why

MTN Group CEO Ralph Mupita

MTN Group suspends 2020 final dividends; explains why   Subscribers rises to 280 million Reports Strong 2020 Results Unveils Ambition 2025 strategy   MTN Group today has suspended the final dividend for 2020 due to its near-term focus on faster de-leveraging of its holding company as well as three conditions which negatively impacted this objective. These related to uncertainties around cash upstreaming from Nigeria, the timing of ARP proceeds and COVID-19 impacts. The telco had reported a very strong set of operational and financial results for 2020, displaying business resilience…

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MTN Group appoints Chika Ekeji new executive to drive strategic repositioning

MTN Group appoints Chika Ekeji

MTN Group appoints Chika Ekeji new executive to drive strategic repositioning   MTN Group today announced the appointment of Chika Ekeji as Executive: Strategy and Transformation as part of plans to further bolster management capacity to accelerate the Group’s strategic ambitions.  Effective 15 March 2021, Chika joins Africa’s leading mobile operator from management consultancy McKinsey & Company in Nigeria, where he led the West Africa Digital Practice and served telco, financial services, and public sector clients across Africa. “We are very pleased that Chika is joining us as we work to…

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MTN Group plans sale, leaseback of 13000 South African towers

MTN Group CEO Ralph Mupita

MTN Group is looking to sell and lease back part of its portfolio of 13,000 South African telecom towers, Bloomberg reported. It said this is a sign that new CEO Ralph Mupita seeks to build on a disposal plan begun by his predecessor. Mupita said MTN is considering the strategic and financial merits of the plan, which would build on similar transactions MTN has completed in countries such as Ghana and Uganda. When Rob Shuter was its CEO, MTN started a plan to raise ZAR 15 billion to help pay…

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Rob Shuter exits MTN Nigeria’s board room

Rob shuter

Nigeria’s biggest telecommunications company, MTN Nigeria has announced the resignation of Rob Shutter from the board of MTN Nigeria Communications Plc. The announcement signed Tuesday by Uto Ukpanah, company secretary for MTN Nigeria, was filed at the Nigerian Stock Exchange to intimate shareholders, the exchange and the investing public with the development. The statement read, “This is to inform The Nigerian Stock Exchange (NSE), the investing public bans other stakeholders of the resignation of Mr Rob Shuter from the Board of MTN Nigeria with effect from September 1, 2020.” Mr.…

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MTN Group Appoints Ralph Mupita New President & CEO

MTN Group,

MTN Group has announced that its current CFO, Ralph Mupita, will be taking over as the new Group President and CEO with effect from 1 September 2020. Ralph will take over from Outgoing CEO, Rob Shuter, who is stepping down after more than 5 years of leading the telecom giants. In his new position, Ralph will leverage his years of experience as CFO to lead the growth & sustainability of MTN Group. Speaking on the new appointment, MTN Group Chairman, Mr Mcebisi Jonas expressed pleasure on appointing someone of Ralph’s calibre and experience after an…

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MTN Group to close operations in Middle East, focus on Africa

MTN Group to close operations in Middle East, focus on Africa

Telecommunications service provider, MTN Group has unveiled plans to pull out of the Middle East market to focus more on its operations in the African territory. In the last half year report released by the group, it envisages sustained growth in the medium term, despite the continued impact of COVID-19 on global markets. Rob Shuter, the group’s president said: “As part of our ongoing portfolio review, we believe the group is best served to focus in the future on our pan-African strategy.” According to him, MTN will therefore be exiting…

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Uganda: MTN pays $100m to extend operation by 12 years

MTN, Uganda, MTN Group, Licence

Pan African telco, MTN Group, has paid $100 million to renew its telecoms licences in Uganda for the next 12 years, according to reports in the press. MTN Group’s licence originally expired in October 2018, with the South African headquartered firm initially offering less than $50 million to renew its licences, according to a report in the Ugandan Observer. Uganda’s president rejected the initial offering, insisting that MTN Group must pay a fair rate for delivering services in the country. Since October 2018, MTN Group has been operating under a revolving…

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