Tag Archives: MTN
MTN: Latest News
Peter Pedroncelli, 3:09 am AFKI Original
African consumers are increasingly able to enjoy numerous global tech brands due to a growing middle class on the continent that is savvy and mindful of what brands can offer them. Many of these brands have earned the admiration and loyalty of African consumers, with BrandAfrica ranking them in terms of the most admired brands from an African perspective. We take a look at 12 of the most admired global tech brands according to Africans.
Dana Sanchez, 8:04 am
MTN’s shares are down 35 percent since October 2015, when Africa’s largest mobile service provider reported a $5.2B fine by Nigerian regulators over unregistered sim cards. That could make MTN cheap enough to be considered for a takeover, Times Live reports. MTN had other problems in the last two years including foreign exchange losses and bad investments. Investing heavily in South Africa, MTN grew revenue and subscribers, but it would be difficult for an international operator to convince its shareholders to back a bid, given the challenges MTN faces, an analyst said.
Dana Sanchez, 9:08 am
The allegation that Nigerians are taking up jobs that could otherwise go to black South Africans is false. Nigerians employ local people in their small businesses. The claim that Nigerians are destroying the moral fabric of the South Africa through drug peddling and prostitution is not entirely true. Yes, some Nigerians may be in the business but their number is negligible. They are however loud and showy, which could trigger envy. Most Nigerians in SA are legitimate — academics, professionals, artisans and other needed service providers. When Nigeria helped SA in its liberation struggles, “we were called brothers. Now, we are expendable strangers.”
Dana Sanchez, 5:39 pm
MTN’s announcement shows how difficult it is to crack mobile payments in South Africa’s financial services market. With one door closing, MTN is entering the micro insurance business with MMI Holdings in a joint venture called aYo. The mobile financial services industry is changing, and aYo will be able to compete thanks to the combined expertise, scale and market access of both companies. Insurance penetration is low in many African countries and MTN will be able to offer relevant, accessible and easy insurance solutions to consumers, the company said.
Dana Sanchez, 12:23 pm
Global tech and mobile giants are increasingly involved in Africa’s 314 active tech hubs. New tech hubs are opening on a weekly basis, according to new research by GSMA, the powerful mobile trade and lobbying association. GSMA recently launched its own innovation fund to tap local startups. Regardless of their type, it’s the facilitator role of tech hubs that explains their proliferation in Africa.
Dana Sanchez, 5:51 pm
In January, MTN hired former U.S. Attorney General Eric Holder to help reduce a $3.9 billion fine. Holder was in office during some of the largest corporate settlements in American history. His addition to the MTN legal team marked a change of strategy. Holder offered to pay a reduced fine and list MTN’s local unit on the Nigerian stock exchange. Critics say the settlement lacked transparency, was too generous and divided the Nigerian government. “It was never about the money. It was about the rules,” a government spokesman said. “The MTN listing will benefit the country.”
Dana Sanchez, 3:42 pm
South Africans pay around $14.10 for one gigabyte of data, the fourth highest out of 17 African countries. By comparison, the same bundle costs around $2.10 in Cameroon. There are five main mobile service providers in South Africa’s wireless broadband market, including partially state-owned operator Telkom. Together MTN and Vodacom control more than 70 percent of the market — part of the reason why South Africans pay some of the highest data costs in Africa.
Dana Sanchez, 11:56 am
MTN making a bid to buy Barclays Africa assets might sound far-fetched and ridiculous – but an MTN bank with operations in 14 African countries would shake up both the cellular and financial services industries. MTN has a track record in integrating big assets. Two new hires at MTN include top-ranking executives with heavy banking experience. Building its own fintech solutions would be expensive for MTN. The trend is for fintech startups to partner with banks rather than telecoms.
Dana Sanchez, 2:36 pm
The Copyright Society of Nigeria says it filed the lawsuit as a last resort. If it prevails in court, this will be the biggest copyright lawsuit ever in Africa. “We will not buckle under pressure from anyone, no matter how highly placed,” said society Chairman Tony Okoroji. “We are determined to stamp out the era of ‘monkey dey work, baboon dey chop’ from the Nigerian music industry and establish a transparent and accountable industry in which everyone who invests talent or resources can rest assured that the investment will be fully protected.”
Dana Sanchez, 12:46 pm
MTN now holds more than 50% market share in Ghana due to massive investment and expansion. This prompted speculation about a possible stock exchange listing in Ghana and in Nigeria, where MTN Nigeria is set to roll out 4GLTE broadband. James Chanos, a New York City short seller aka “the catastrophe capitalist,” predicted the failure of U.S. energy company Enron. Now Chanos is talking trash about MTN. Chanos’ business model of intensive research into stocks makes his investments function more like those of a whistle-blower than most typical investments, a blogger said.
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