Browsing: MTN Nigeria

According to the Top 30 West African companies report, as of September 2022 only Nigeria had positive US dollar returns of 9.0 per cent YTD, while BRVM and Ghana had negative YTD US dollar returns of 8.9 per cent and 47.5 per cent, respectively.

This report, as of September 2022, covers the Top 30 companies in West Africa by market capitalisation.

The report was furnished by Hartland-Peel Africa Equity Research. According to African Financials, this is Sub-Saharan Africa ex SA: Equity, debt and FX research covering sixteen countries and advising institutional investors. Christopher Hartland-Peel has worked extensively in emerging markets – with the IFC in Washington D.C., the ADB and USAID, and Standard Bank and Exotix in London.

Read: Financial Gazette, Old Mutual Zimbabwe’s top companies

The total US dollar returns for the West African region was 1.7 per cent showing a decrease of 5.6 per cent in returns compared …

  • Asante announced the US$7.5 million Series A investment anchored by Goodwell Investments
  • The AfDB signed a grant agreement for US$500,000 to be used for a study into factors hampering access to finance for women in northern Nigeria
  • Asante addresses the credit gap and accelerates its rollout

In mid-October, Asante Financial Services Group (Asante) closed the first tranche of US$7.5m Series A funding to bridge the gap in MSME lending in Africa.

Asante announced the US$7.5 million Series A investment anchored by Goodwell Investments with the participation of other investors including Sorenson Impact Foundation and Forsage Holdings.

The Series A investment will enable the high-impact fintech to scale its credit offerings to the underserved segment of MSMEs in Kenya and Uganda,  and expand to Nigeria and Rwanda.

Read: Accelerating Fintech investment and digital banking for Africa

And just as the Kenyan company was announcing this milestone, Nigeria which also doubles up …

MTN, South African multinational mobile telecommunications company is expecting to gather full-year headline profit up to 50 per cent, which is still a slow-down from the previous years attributed by interest on regulatory fines in Nigeria, Reuters reported.

According to Reuters, MTN, which is due to report 2019 results on March 11, 2020, said headline earnings per share (HEPS) would likely be within a range of 438 cents to 506 cents on the IFRS 16 accounting basis adopted at the start of the year.

That compares to 337 cents in the previous year. On a like-for-like IAS 17 accounting basis, MTN expects to report growth in HEPS – a key profit measure in South Africa that strips out one-off items – of between 55 per cent and 75 per cent.

However, that is still slower than the 85 per cent jump the company reported in 2018. It attributed the …

MTN, the South African telecoms group has said it will invest $1.6 billion in Nigeria days after Nigeria backed down on a $2 billion tax demand.

In a meeting with the president of Nigeria Muhammadu Buhari, a team of four top executives from MTN group and MTN Nigeria said they will invest the money over the next three years.

“MTN announced a capital investment programme of $1.6 billion over the next three years to strengthen and expand its network and operations in the country,” said the company in a statement after the meeting.
Nigeria’s President said, “that the Federal Government of Nigeria is committed to providing an enabling environment for businesses to succeed”.

Also Read: MTN Cameroon gets mobile money accreditation

MTN hopes that the peace pact will mark the end of four years of disputes with Nigeria, which at one time was threatening a fine of $5.2 billion, cut …