mtn group
MTN to Sell R1,8 Billion Stake in Belgian Telco, BICS
Sourced from Business Tech MTN Group has announced its plans to sell its 20% stake in Belgacom International Carrier Services SA (BICS) to Proximus NV/SA for approximately R1,8 billion. The telco is expected to use this to pay down US dollar debt. BICS was classified as a non-current asset held for sale and this transaction has resulted in a remeasurement of its carrying value resulting in a reduction of R397 million for the year ended 31 December 2020. According to MTN, it will record a profit on disposal amounting to approximately R1,2 billion during the first half of 2021. The closing of the sale is dependent on customary regulatory approval. MTN Launches Supersonic AirFibre in South Africa MTN has launched its Supersonic AirFibre offering in South Africa. The product is said to overcom...
MTN Donates $25 million to the African Union’s COVID-19 vaccination programme
Sourced from TheTechieGuy (https://thetechieguy.com/) MTN is donating $25 million to support the African Union’s COVID-19 vaccination programme. This is expected to secure up to seven million doses of the COVID-19 vaccine for health workers across the continent, which will contribute to the vaccination initiative of the Africa Centres for Disease Control and Prevention (Africa CDC). “The devastating impact of COVID-19 has been unprecedented and profound. Public and private partnerships are needed if we are to succeed in the fight against the pandemic and restore social and economic norms for our continent and our communities,” says Ralph Mupita, President and CEO of MTN. South Africa’s President and Chairperson of the African Union, Cyril Ramaphosa announced that the African Union ha...
MTN Adds 12 Million New Subscribers in Q3
MTN Group has reported a strong set of financial results for the third quarter, supported mainly by its larger operations in South Africa, Nigeria and Ghana as well as the addition of 12 million new subscribers across the continent. “As the COVID-19 pandemic has continued to impact lives and livelihoods across our markets, the group has demonstrated strong operational execution and resilience,” says MTN Group president and CEO, Ralph Mupita. To meet the increase in data and digital usage, he added that MTN had focused its investment on network capacity and resilience and modernising its IT systems, spending R16 billion in the year to the end of the third quarter. Service revenue grew by 11,4% to more than R43 billion. Earnings before interest, tax, depreciation and amortisation (...
MTN Appoints Group Chief Risk Officer
Ferdi Moolman, MTN Group Chief Risk Officer MTN Group announced the appointment of Ferdi Moolman to Group Chief Risk Officer, a new Executive Committee (exco) position – effective from 1 March 2021. Moolman joined MTN in 2002 and has held several senior positions within the group in Nigeria and in Iran. He has spent the past five years as the CEO of MTN Nigeria and, as its CFO prior to that. During that time, the company says that significant progress has been made in stabilising the business and setting it on a sustainable growth path. That’s why the management of enterprise-wide risk is integral to MTN’s growth strategy. Moolman will bring extensive operational and financial experience to the role given his deep knowledge of the MTN Group, its markets and the telecoms sector. He will rem...
MTN Nigeria Appoints New CEO
MTN Group has appointed Karl Toriola, current VP for MTN Group’s West and Central Africa (WECA) region, as the new CEO of MTN Nigeria – effective 1 March 2021. Toriola will take over as MTN Nigeria CEO from Ferdi Moolman, who has served MTN Nigeria with distinction in this role for the past five years. Moolman will return to South Africa, where he will assume the new role of Group Chief Risk Officer. Toriola has a BSc Hons in Electronic and Electrical Engineering and an MSc in Communication Systems. In his five years as VP of MTN’s WECA region, he has overseen the steady progress of the operating companies in the region, notably the turnaround of MTN Ivory Coast and MTN Cameroon over the past two years. In addition, the WECA markets have made significant commercial and strategic strides, i...
MTN Named ‘Most Valuable African Brand’
MTN Group has been named the ‘Most Valuable African Brand’ by Brand Finance Africa. The ranking ascribes a brand value of $3,3 billion to MTN. Brand value is said to be the net economic benefit that a brand owner would achieve by licensing the brand in the open market. In its survey, Brand Finance said that “over the last year, Africa’s largest mobile operator has celebrated solid profits and impressive subscriber growth.” The survey assessed the impact of COVID-19 on the enterprise value of all brands in its survey, compared to their values on 1 January 2020. It categorised the telecoms sector as ‘limited impact’, which it said meant “minimal brand value loss or potential brand value growth”. This was due to the increasingly important role that mobile operators have played in keeping peop...
MTN Appoints New CEO in Liberia
MTN has appointed Rahul De – current CMO of MTN Nigeria – to CEO of its operations in Liberia – starting 1 November. replaces Uche Ofodile who departed Lonestar Cell MTN in July to become the CEO of MTN Benin. With 23 years of experience in the telco space, ranging across multiple geographies, De has spent the last two decades in senior leadership roles driving growth and leading business transformation. “I would like to congratulate Rahul on his appointment,” says Ralph Mupita, MTN Group president and CEO. “Rahul is a seasoned leader renowned for driving innovative digital and FinTech advancement in our business and in the telecommunications industry.” De joined MTN in 2011 as Chief Marketing Officer of MTN Ghana, a position he held for over four years before he joined MTN Nigeria in 2015...
MTN Named Best Mobile Network in South Africa
MTN has the best mobile network in South Africa, according to findings from the Q3 2020 Mobile Network Quality Report. The report, from MyBroadband Insights, shows that South Africans had an average mobile download speed of 29.16Mbps and an average upload speed of 11.46Mbps. To determine the best mobile network in South Africa, a “Network Quality Score” out of 10 was calculated for each network using download speed, upload speed, and latency. MTN reigned supreme with a Network Quality Score of 9.68, followed by Vodacom on 5.99, Telkom on 5.16, Cell C on 4.27, and Rain on 3.74. Here’s a closer look at the mobile network rankings: /* custom css */ .tdi_3_1f1.td-a-rec-img{ text-align: left; }.tdi_3_1f1.td-a-rec-img img{ margin: 0 auto 0 0; } Network Operator Download Speed (Mbps) Upload ...
MTN Liberia to Introduce New Voice and Data Surcharge
Lonestar Cell MTN has introduced a mobile voice and data surcharge – these charges are expected to abide by government regulations and directives. In an official statement, the telco says it “wishes to notify the public that in accordance with LTA-Order 0016-02-25-19 issued by the Liberia Telecommunications Authority (LTA), a surcharge on mobile voice on-net (Lonestar to Lonestar calls) and mobile data services has been introduced”. The surcharges are as follows: On-net (Lonestar-to-Lonestar) voice calls: US$0.008/min (or 0.8 cents/min) Data (per MB) US$0.00065/MB (or US$0.065 cents/MB) “Lonestar Cell MTN understands that these are tough economic times, but we assure you that we still have many products to allow our customers to communicate affordably. We remain com...
MTN Joins Forces with the Telecom Infra Project
MTN Group has teamed up with the Telecom Infra Project (TIP) to support the evolution of its communication transport infrastructure – something the telco hopes will become a platform for ‘future revenue growth and profitability’. “Our partnership with TIP will drive the specific requirements of our network to meet our subscriber demands, setting us apart on our network scalability and adaptability,” says Charles Molapisi, MTN Group CIO. Through the partnership, communication transport capacity will be deployed to support traffic growth over the next three years. In addition, it aims to provide support for new services as part of the evolution of 5G and new enterprise services. It will also reduce the time to market through more focused agile service provisioning. “Through the use of open p...
Airtel, MTN and Stanbic Bank Fall Victim to Major Data Breach in Uganda
Sourced from IDG Connect Mobile money transaction company, Pegasus technologies has suffered a major data breach resulting in the loss of billions of Ugandan Shillings – according to PLM Daily. The breach is said to have impacted telcos, Airtel and MTN Uganda, as well as Stanbic Bank, Uganda’s largest bank. “Stanbic Bank Uganda, MTN Uganda and Airtel Uganda inform the public and their customers that on Saturday 3 October 2020, a third-party service provider experienced a system incident which impacted Bank to Mobile Money transactions. All Bank to Mobile Money/Wallet services have since been temporarily suspended,” reads an official statement from the companies. “This system incident has had no impact on any balances on both Bank and Mobile Money accounts. Our technical teams are analysing...
MTN Liberia and Sendwave Partner to Expand International Remittences
Sourced from The Techie Guy Lonestar Cell MTN has partnered with Sendwave to enable customers to receive international remittances from the US straight into their Mobile Money accounts. MTN believes that using MoMo for international remittances and daily financial transactions makes life easier, safer and more convenient. “We are excited and very proud to be at the forefront of innovative financial technologies and partnerships which can help Liberians live convenient and safer lives. Our international remittances partnership with Sendwave does just that,” says Christopher Ssali, Acting GM of Lonestar Cell MTN Mobile Money. “What is even better is that with our rapidly expanding MoMo ecosystem, MoMo customers can use the money they receive to pay bills, buy goods and pay for services...
