Tag Archives: MTN Group
MTN Group: Latest News
Staff, 6:23 am
South Africa’s MTN Group Ltd., Africa’s largest telecommunications company, attributed a heavy loss in the first half of the year to a “perfect storm” that included a massive regulatory fine in Nigeria and unfavorable currency movements in many of its markets. Generally weak macroeconomics, hyperinflation in Syria and Sudan, impairments in South Sudan as well as losses from investments in internet and tower companies contributed to the company’s first ever half-year loss.
Kevin Mwanza, 7:55 am
The Zimbabwean government deliberately blocked the entry of South Africa’s MTN Group and Kenya’s Safaricom into the nation’s telecoms space in order to shield local operators from bigger international firms and promote their organic growth. MTN has its presence in 22 African countries, while Safaricom is the biggest communication company in East and Central Africa. The Southern Africa nation has three mobile networks — Econet, NetOne and Telecel.
Kevin Mwanza, 4:31 am
Teta Mobile Chat, an instant messaging and social media app that allows users to chat with one another, exchange photos and videos without any data or airtime is likely to become a big rival in Africa to WhatsApp, the world’s most popular social media app. Like many other messaging apps, Teta allows its users to chat, send and receive files without incurring any form of mobile data charges so long as they are accessing the service through a participating network provider
Kevin Mwanza, 7:14 am
MTN Group, Africa’s largest telecoms operator, is turning to banking industry veterans to help it help revive it slowing profits by increasing the company’s revenue from it mobile money business. The group, which has had several changes in top management in recent weeks, has head hunted a new CEO and Group Head of Mergers, Acquisition and Strategy from the banking world.
Dana Sanchez, 12:25 pm
Less than two weeks after MTN settled its massive fine with Nigerian regulators, the South African mobile phone operator has chosen a new CEO who brings a wealth of banking experience. That’s what’s needed to revise MTN’s strategy, particularly in the area of convergence between mobile and financial services, the company said Monday. MTN plans to also appoint a new vice president for mergers and acquisitions as part of the group’s goal to develop new revenue streams. Many other new appointments have been announced.
Kevin Mwanza, 8:58 am
MTN shares surged as much as 21 percent on Friday after the Africa’s largest telecom operator agreed to pay $1.7 billion fine to the Nigerian government, which could end a protracted legal battle between the firm and the West African nation’s communication regulator. MTN shares trading at the Johannesburg Stock Exchange (JSE) were set to record the biggest intraday gain since 2008. The mobile-phone company would list on the Nigeria Stock Exchange as part of the deal
Kevin Mwanza, 9:07 am
Vodacom has overtaken MTN Group as the largest telecoms operator by market capitalization as the former struggles with regulators in Nigeria over a record multi-billion fine leveled on it at the end of last year. Vodacom’s market capitalization rose to 249 billion rand at the Johannesburg Stock Exchange (JSE) on Wednesday surpassing MTN, which stood at 244 billion rand ($16.2 billion). This is the first time Vodacom’s capitalization has risen above MTN’s
Kevin Mwanza, 7:20 am
Africa’s biggest telecommunications services provider, MTN Group, is considering cross-listing on the Nigerian Stock Exchange after it resolves a dispute with the country’s communications regulator, the company’s executive chairman said on Thursday. Phutuma Nhleko said the cellular giant would list in the Nigerian bourse after a $3.9 billion fine imposed on it by NCC late last year for failing to switch off 5.1 million unregistered subscribers was fully resolved.
Kevin Mwanza, 4:16 am
Africa Internet Group (AIG), one of the largest e-commerce companies on the continent, has raised $245 million (225 million euros) in one of the largest fundraising rounds by an African-focused tech firm. The funding has been raising from US-based investment bank Goldman Sachs and existing investors South African telecom MTN Group and German startup incubator Rocket Internet.
Kevin Mwanza, 1:31 pm
Nigeria’s minister of communication has said the federal government is “not aware” of offer to settle MTN’s record $3.9 billion fine out of court and has asked the telecom operators to drop its legal action to help facilitate talks. MTN is fighting to have the fine levied on it by the Nigerian Communication Commission (NCC) in October last year
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