Tag: MTN

MTN Uganda to float 20% of shares on the bourse

Frank

UGANDA – MTN Uganda has announced its intention to proceed with an initial public offering (IPO) and subsequently list on the Uganda Securities Exchange (USE). The move follows the requisite approval by the Capital Markets Authority (CMA) and Uganda Securities Exchange for MTN Group to sell 20% of its shareholding in MTN Uganda to the public, the telco said in a press statement. MTN Group owns 96% of MTN Uganda. According to the telco, the listing is in line with the group’s strategic priority to create shared value, partly through…

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MTN in mobile money pact with Flutterwave

Frank

AFRICA – Africa’s biggest mobile operator MTN, has entered a mobile money partnership with one of the continent’s leading fintech, Flutterwave. The partnership will allow businesses integrating Flutterwave in Cameroon, Côte d’Ivoire, Rwanda, Uganda and Zambia to receive payments via MTN Mobile Money (MoMo). MTN MoMo is a fintech platform providing consumers and businesses with an electronic wallet, enabling electronic transfers and payments as well as access to digital and financial services. According to the telco, at the end of June 2021, MTN MoMo had 48.9 million active users and 581,514 merchants.…

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aYo Holdings partners MTN, Sanlam Life to launch two insurance products

Frank

CÔTE D’IVOIRE – aYo Holdings, a microinsurance FinTech, has partnered with telecommunication company MTN and insurance company Sanlam Life to launch two innovative insurance products in Côte d’Ivoire. The two insurance products will contribute towards MTN subscribers enjoying peace of mind. Two of the biggest operators on the continent, Sanlam and MTN, are forming ties to conquer Africa’s insurance market. The two companies announced that they are joining forces in an exclusive strategic alliance across Africa, a deal whose goal is to change the face of insurance on the continent.…

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MTN and Sanlam partner to build Africa-wide digital insurance business

Frank

SOUTH AFRICA – MTN Group and Sanlam are joining forces to offer insurance products to the telecommunications operator’s huge subscriber base on the continent, where relatively few have cover, a deal whose goal is to “change the face of insurance” on the continent. MTN, which is Africa’s largest mobile operator with 277 million voice subscribers, will leverage Sanlam’s license, geographical reach and expertise, while the insurer will be able to expand further outside its home market, South Africa, by selling its products to MTN’s vast customer base, they said in a…

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MTN closes in on tower deal as it proceeds with units’ break up

Frank

SOUTH AFRICA – MTN Group is set to complete the sale and leaseback of South African towers by the end of August 2021, as it also proceeds with the separation of both the fintech and fiber units and strives to pay down debt. The tower deal could generate as much as R11 billion (US$742.5 million) according to an analysis by Bloomberg Intelligence. The fintech move is due to be finalised by March 2022 and fibre over the next two years, the firm said in a statement. Africa’s biggest mobile phone company…

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MTN quits Syrian operations, seeks compensation

Frank

SOUTH AFRICA – MTN has quit Syria, abandoning its operations blaming the actions of the regulator that it claims have become toxic, making the business insupportable, reports IT Web. Africa’s largest mobile operator is now plotting legal action, seeking compensation. The telco announced plans to exit the Middle East in 2020 but has been battling Syrian authorities after the company was placed under curatorship. In March 2021, MTN executive management was relieved of its duties and a Syrian court appointed the chairman of the minority shareholder, TeleInvest, to manage the company’s day-to-day operations. Chief…

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NuRAN signs network rollout agreement with MTN in South Sudan

Frank

SOUTH SUDAN – NuRAN Wireless Inc., a leading supplier of mobile and broadband wireless infrastructure solutions, announced it has signed a Memorandum of Understanding with MTN for the deployment of rural sites under the network-as-a-service model (“NAAS”) in South Sudan for the deployment of sites through the build, own, operate, and transfer (“BOOT”) revenue share model. According to a NuRAN press release, the contract covers the deployment of sites through the build, own, operate, and transfer (BOOT) revenue share model. The companies intend to install a minimum of 250 rural…

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MTN eyes LTE expansion in Eastern Cape with US$11.8m investment

Frank

SOUTH AFRICA – Mobile telecoms company MTN has announced it has made over half a billion rand investment to boost its network in several provinces across South Africa. The telco announced an additional R170 million (US$11.8 million) investment in the Eastern Cape “to offer consumers and businesses greater access to the world of digital opportunity in this important economic hub”. This comes after South Africa’s second-biggest mobile carrier revealed in July 2021 it is making significant headway in ensuring more people in South Africa benefit from the modern, connected world. At the…

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MTN selects business support provider Tecnotree for its digital transformation journey

Frank

AFRICA – MTN, a mobile telecommunications services, has selected Tecnotree, a global provider of business support systems for the telecom industry, as a strategic partner for its digital transformation journey across MTN Benin, MTN eSwatini, MTN Zambia, MTN South Sudan and MTN Cote d’Ivoire. As part of the five-year collaboration with MTN, Tecnotree will deploy its Digital BSS Suite 5 to help accelerate the operator’s business growth, increase agility and boost operational efficiency. Compliant with TM Forum standards, the BSS suite will enable MTN to rapidly deliver new and engaging…

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MTN Nigeria set to invest US$1.5bn to expand broadband access in the country

Frank

NIGERIA – MTN Nigeria, a mobile telecommunications company, has announced plans to invest N640 billion (US$1.5 billion), over the next three years to expand broadband access across the continent’s most populous country. The invest is in line with the federal government’s 2020-2025 National Broadband Plan and in support of MTN Group’s strategy, Ambition 2025: Leading digital solutions for Africa’s progress. “Nigeria is one of our most important markets. We have a proud history of partnering with Nigeria and Nigerians to drive faster and more inclusive growth through digital transformation,” said…

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