MTN to expand network, refinance debt with completed N110bn bonds

MTN Group

MTN to expand network, refinance debt with completed N110bn bonds     MTN Nigeria Communications Plc said on Thursday that it had successfully completed the issuance of N110 billion Series 1 seven-year 13 per cent Fixed Rate Bonds due 2028, under a N200 billion bond programme to refinance existing debt and support network expansion. MTN Nigeria’s Chief Finance Officer, Modupe Kadri, said the company issued debt to optimise its funding costs. He said the company was looking to repatriate $250 million in outstanding dividend to the group and was hopeful…

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Pantami engages CBN, NCC over USSD dispute between MTN, Nigerian banks

Pantami

Pantami engages CBN, NCC over USSD dispute between MTN, Nigerian banks     Isa Pantami, the Nigerian Minister of Communications and Digital Economy, said he had the Nigerian bank and telecoms regulators over an ongoing dispute between MTN Nigeria and deposit money banks in the countries. As earlier recorded by Business Metrics, the dispute bothers on percentage commission due Value Added Service (VAS) aggregators for Unstructured supplementary service data (USSD) transaction conducted on MTN’s network. In a tweet on his official Twitter handle, the minister stated that “On the fallout…

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MTN begins sales of bonds under its N200bn Commercial Paper

Banks disconnect MTN from banking channels

MTN begins sales of bonds under its N200bn Commercial Paper     MTN Nigeria Communications Plc Series III and IV Commercial Paper Issuance under its N200 billion Commercial Paper (CP) Issuance Programme is has opene. The proceeds from the offer will be applied towards MTN Nigeria’s working capital and general corporate purposes, statement obtained on Sunday said. The offer is scheduled to close on Wednesday, March 19, 2021. MTN Nigeria is the leading telecommunications operator in the largest telecoms market in Africa. The Company is the largest mobile operator and…

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Competition toughens as MTN, Airtel, Glo, 9Mobile trade 181,377 customers

Telcos fail in QoS test

Competition toughens as MTN, Airtel, Glo, 9Mobile trade 181,377 customers   Porting rises 56.5% YoY 9Mobile emerges highest gainer, Airtel highest loser   In a race to attract more telecoms consumers, Mobile Network Operators (MNOs) in Nigeria have exchanged among themselves a total of 181,377 subscribers via mobile number portability between January and November, 2020. Porting activities on the four MNOs, namely MTN, Globacom, Airtel and 9mobile, within the 11-month period were 56.5 per cent higher than 115,887 recorded in the same period of 2019. Also, the 11 months porting…

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NCC lists conditions for e-SIM trial as MTN, 9mobile get approval

The Nigerian Communications Commission (NCC) has granted approval for two mobile network operators (MNOs), MTN Nigeria and 9Mobile, to carry out a trial on the workability of embedded Subscriber Identification Modules (e-SIM) Service in Nigeria. The trial, approved to run for a period of one year, will involve testing 5,000 e-SIMs by the two networks, subject to compliance with a number of regulatory conditions, the NCC noted in a press statement signed Monday by Ikechukwu Adinde, its director of public affairs. “These conditions include full compliance by the MNOs with…

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MTN, 9mobile get NCC’s approval for national roaming service

NCC remits N362.34bn, economic economic diversification

As Commission encourages resource sharing ________________________ The Nigerian Communications Commission (NCC) has granted approval for two mobile network operators (MNOs) to carry out trial on National Roaming Service for a period of three months, commencing from August 1, 2020 and to end by October 31, 2020. The two telecoms companies are Mobile Telecommunication Network (MTN) Nigeria and the Emerging Markets Telecommunication Service Limited (EMTS), trading as 9Mobile in Nigeria. With this approval EMTS and MTN are expected to configure their networks to begin test and simulation for customer experience. The…

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FG Wades Into MTN, Union Dispute

How much MTN Group finally sells stake in Jumia

The Federal Government has waded into the trade dispute between MTN Nigeria Communication Plc and Private Telecommunication and Communications Senior Staff Association of Nigeria (PTECSSAN). Sen. Chris Ngige, Minister of Labour and Employment, made this known during a conciliation meeting between the management of MTN Nigeria and PTECSSAN on Tuesday in Abuja. The News Agency of Nigeria (NAN) reports that the union had issued a 14-day ultimatum to MTN Nigeria over allegations bordering on unfair labour practices and the union also threatened to embark on strike on Aug. 24, if…

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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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MTN Group to pull out $243m stake in Jumia

MTN Group to pull out $243m stake in Jumia

MTN Group plans to sell part or all of its $243 million (R4.1bn) interest in Jumia Technologies as part of its strategy to pay off its debts and expand into new markets. The group, which had previously marked the online retailer as a non-core business, is reviving plans for a sale after Jumia’s shares surged 142 per cent this year, recovering from a dip in 2019, one of the people involved told Bloomberg. It was gathered that no final decisions about the sale had been made, the people said, asking…

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FMDQ admits N100bn MTN, N100bn Dangote Bonds on its platform

MTN, Dangote, Bola Onadele.Koko, FMDQ

Despite the amidst economic downturn and realities of the COVID-19 pandemic, Dangote Cement PLC and MTN Nigeria Communications PLC have successfully tapped the debt market, raising the largest corporate bond and commercial papers, respectively, so far recorded in the Nigerian debt capital market. FMDQ Holdings Plc, wholly owned subsidiary, FMDQ Securities Exchange Limited admitted for listing, the Dangote Cement Plc N100 billion Series 1 Bond under its N300.00 billion Bond Programme, and for quotation, the MTN Nigeria Communications Plc N100.00 billion Series 1 & 2 Commercial Paper (CP) notes  under…

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