MTN suspends payment of dividend to focus on debt reduction

SOUTH AFRICA – Africa’s biggest mobile operator MTN has suspended its dividend and dividend policy for 2020 to focus on debt reduction as it announced that it had added 29 million customers during the year ended in December. The telco said it had decided not to pay dividends in 2020 after the cash repatriation challenges in Nigeria, the delayed asset disposal programme due to tough market conditions and the impact of the Covid-19 pandemic resulted in the 2.2x leverage ratio for the year, which was higher than the group’s preferred…

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NMB Bank appoints Ruth Zaipuna as the CEO, hands US$6.55m dividend to the government

TANZANIA – NMB Bank, the leading commercial bank in Tanzania, has announced the appointment of Ruth Zaipuna as its Chief Executive Officer. In a statement the bank said Ms Zaipuna has made a significant contribution in its strategy, governance, cost efficiency and overall leadership of the bank. Ruth becomes the first Tanzanian CEO to head Tanzania’s most profitable and leading bank in the country, having served as the Acting CEO for a year. “Ruth has been instrumental during the transition period and a key player in the growth realisation of…

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