MTN Group says it will list Nigerian Stock Exchange (NSE) in the first half of 2019, after recording very positive trade numbers in 2018 fiscal year.
The telecommunication giant made this disclosure in a mailed statement seen by TheCable on Thursday, as its results showed a total revenue of 37,971,000,000 South African rand (N965.3bn).
“MTN plans to list by introduction on The Nigerian Stock Exchange during the first half of 2019 and is looking to simplify the capital structure ahead of this listing,” MTN said.
“The Company’s listing on the Exchange will create a new telecoms asset class for investors and provide an opportunity for a wider group of Nigerians to participate in our investment story.”
“This will be achieved via a listing by introduction and will be followed by a public offer once market conditions are conducive. Over time, and subject to market conditions, we anticipate that the participation of Nigerians in the ownership of the business will increase from around 20% to 35%.”
MTN increased its mobile subscriber base in Nigeria by another six million people, bringing its tally to 58 million subscribers nationwide.
Ferdi Moolman CEO, MTN Nigeria said “In 2018 we rebuilt the base; adding another six million Nigerians to our network, giving a total of 58 million people access to worldwide communication services”.
“This growth was built on our sustained focus on customer centric delivery – ensuring that customers get much more value for their money.
“This included the deployment of proactive interventions to improve customer experience, together with the enhancement of network quality and coverage, and the optimization of our services portfolio.
“We also enabled an additional 8 million people to access the possibilities that the internet provides, bringing our total data subscriber base to 44 million, of which 18.7 million use more than five megabytes per month.
“We are now even better positioned to ensure that everyone can access the benefits of a modern connected life. We are excited to have been given the privilege to continue playing a role in facilitating this, and are grateful to our customers, our people, our partners and our regulator for making this possible.
“We understand how access to the opportunities enabled by the internet can open up new industries even in the remotest areas of our country.
“Thus, we will continue to focus on delivering social innovations like mobile electricity, financial services for all; and leveraging our technology as a vehicle to enable high-impact mobile solutions in education, health and agriculture in our communities – urban and rural.”
SNAPSHOT OF MTN NIGERIA RESULTS (2018)
- Service revenue increased by 17.2%
- Data revenue increased by 39.3%
- Digital revenue decreased by 58.1%
- Fintech revenue increased by 32.7%
- EBITDA grew by 30.8% to NGN 453.1bn (excl CBN payment)
- EBITDA margin increased by 4.5 pp to 43.6% (excl CBN payment)
- Mobile subscribers increased by 6 million to 58 million
Zenith Bank Emerges First Nigerian Bank To Repeatedly Audit Its Carbon Emissions
Zenith Bank Plc was presented with a Certificate for Greenhouse Gas Auditing by V4 Advisors after a successful completion of the Bank’s Greenhouse Gas Audit for the 2018 Financial Year. The presentation of the certificate and the report of the Auditors was done by V4 Advisors at the Zenith Bank Head Office on May 21, 2019.
The Executive Director, Dr. Temitope Fasoranti, who received the certificate on behalf of the Bank said the Bank started this effort with the 2016 Financial Year and has carried out three greenhouse gas audits to date. He explained that the Bank understands the relationship between greenhouse gas emission and climate change and appreciates the role it is expected to play towards combating the menace of climate change.
Also speaking on the milestone, the Country Manager, Lynsey Elston highlighted that Zenith Bank is the first Nigerian bank to consecutively report the carbon emissions of their Head Office in Lagos using a certified tool which is built on the internationally recognized “GHG Protocol”.
She commended the bank for proving its commitment to United Nations Global Compact (UNGC) Goal 13, Climate Action, in addition to complying with Global Reporting Initiative (GRI) Standards.” In response to her, the Executive Director said the initiative has significantly helped the bank reduce its overall carbon footprints and drive energy efficiency.
V4 Advisors is a UAE-based provider of advisory and consulting solutions on climate change and greenhouse gas emissions. The firm’s calculation and reporting tool has been reviewed by the World Resources Institute (WRI) for conformance with the GHG Protocol Corporate Standard.
Access Bank Threatens to Publish Names of Debtors in Newspapers
The management of Access Bank Plc has given all its delinquent debtors two weeks to pay up their due obligations, emphasising that failure to adhere to this directive would come with severe consequences.
In a publication today on Punch Newspapers, the lender said this warning also goes to debtors of the defunct Diamond Bank Plc.
Business Post reports that in March 2019, Access Bank and Diamond Bank officially merged together to become an enlarged banking entity.
In the notice seen by Business Post, the financial institution warned that if after the two weeks grace period the “incorrigible debtors” fail to comply with this directive, it would be forced to publish their “names in newspapers.”
The bank said “all debtors will be sanctioned by the CBN and banned from participating in the Nigerian Foreign Exchange and Securities Exchange Markets, and registered on the Credit Risk Management Systems (CRMS) Bureau as bad debtors making them, their directors and related entities illegible for any credit in the Nigerian Financial Markets.”
Access Bank said it was determined to take further actions “against such delinquent individuals and companies as we may consider necessary and shall relentlessly pursue full recovery of all our debts.”
Below is the full statement signed by the management of Access Bank Plc.
Please be informed that Access Bank Plc is set to publish the list of all its delinquent debtors, associated persons, directors and entities. This is in line with the directive from the Central Bank of Nigeria (CBN).
All Access Bank Plc (including former Diamond Bank Plc) debtors are directed to pay up their due obligations in order to avoid punitive actions being taken against them. Please note that we shall publish out debtors’ names in newspapers in two weeks.
Similarly, in the event that these obligations are not fulfilled, we shall take such further actions against such delinquent individuals and companies as we may consider necessary and shall relentlessly pursue full recovery of all our debts.
Furthermore, all debtors will be sanctioned by the CBN and banned from participating in the Nigerian Foreign Exchange and Securities Exchange Markets, and registered on the Credit Risk Management Systems (CRMS) Bureau as bad debtors making them, their directors and related entities illegible for any credit in the Nigerian Financial Markets.
For incorrigible debtors, who continue to pose a risk to our system, we will use all means available and collaborate with our colleagues in the industry to ensure that they are excommunicated from the banking system.
Consequently, we hereby advise all out delinquent debtors to take this publication seriously and ensure that all debts are settled promptly.
Glo Extends Lead In New Data Subscriptions With 1 Million More Users
Digital transformation leader, Globacom, has maintained its position as the preferred data service provider in the country with an addition of nearly one million new subscribers in March, 2019.
According to the Internet Subscriber Data for March 2019 published on the website of the Nigerian Communications Commission (NCC), Globacom gained the most with 950,115 new internet users. The gain took its internet subscription in March to 28,436,386 from 27,486,271 recorded in February, 2019.
The data also showed that MTN and Airtel recorded gains in March. While Airtel added 351,657 new internet users in the month under review, MTN recorded a marginal increase of 13,552 subscribers.
On the other hand, 9mobile continued to record losses in its internet subscriber base as it lost 166,542 users in March.
NCC’s data showed that overall internet users in Nigeria increased to 115,938,225 in March from 114,725,357 recorded in February. This indicates an increase of 1,212,868 new subscribers in one month, with Globacom alone having over 78% of the growth.
The apparent preference for Globacom by new internet subscribers is believed to be the result of the network’s continued improvement in its data services. The company has the widest 4G LTE coverage in the country, and the technology ensures more reliable and faster internet usage experience. Globacom also has the most attractive data plans in the market, with packages that appeal to both high and low data users.
On Monday, 21st May, 2019, the company announced the introduction of Glo Daily Data Splash 300, which offers subscribers the most affordable rate for a daily subscription in the country’s telecoms market. The new plan offers a whopping 1 Gigabyte of data for just N300, as against the closest package of N350 per 1GB offered in the market. It also addresses the concerns of subscribers who desire access to reliable internet service at a very convenient rate.
World News7 months ago
I laughed when I read the story that I gave Israel ultimatum to return Nnamdi Kanu – Lai Mohammed
News1 month ago
Umar Mohammed Bago, Man With Passion For Service
Society News6 months ago
EXCLUSIVE: The Complete Story of Dolapo Awosika, John Fashanu and Prophet Kasali Sex Mess
News2 months ago
NDLEA Closes In On Sanwoolu’s Aide, Funke Phillips
Crime2 months ago
Unbelievable! Isolog Pry. School AKUTE Teacher Allegedly Rapes 2 Children… teacher on The Run
Crime1 month ago
Alleged Gang-rape: Court Denies Babcock Varsity student Bail
News1 month ago
Gov. Yahya Bello Declares For Second Term, Gives Reasons
Business News5 months ago
The Story Of How Herbert Wigwe and Aigboje Aig-Imoukhuede Took Over Access Bank