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MTN, others win at NGX Made of Africa Awards

Lagos, Dec. 21, 2023: MTN Nigeria Communications Plc, VFD Group Plc, CardinalStone Securities and Chapel Hill Denham emerged winners at the Made of Africa Awards, organised by the Nigerian Exchange Ltd. (NGX).

In his address, Mr Temi Popoola, Chief Executive Officer of NGX, said that the annual awards was aimed at encouraging more listings, transactions, better compliance and stimulating innovation in the capital market.

Popoola stated that the awards were designed to recognise organisations and individuals within the Nigerian capital market ecosystem that demonstrate exceptional performance in value delivery and sustainable impact.

He noted that the awardees also act as key drivers in strengthening the Nigerian and African capital markets.

“These awards serve as a platform to showcase the best the capital market has to offer.

“It inspires more private sector organisations, states and the Federal Government to list shares, issue debt securities, and inject fresh capital into the market.

“Through NGX Made of Africa, we remain committed to encouraging, incentivising our partners, and promoting inclusivity as we contribute to the development of the capital market,” he said.

According to him, the NGX takes pride in leading the way in innovation, excellence, and corporate governance best practices.

“This is why the Exchange attaches importance to rewarding innovation, excellence, and adherence to existing rules and regulations, which is fundamental to stakeholders’ collaboration in the market,” he added.

He congratulated the winners of the 2023 edition of the awards.

Meanwhile, MTN won the Most Compliant Listed Company award, while VFD Group was recognised as Listing of the Year.

CardinalStone Securities won Equity Trader of the Year, while Lagos State Government and the Debt Management Office were recognised as the State Government with the Largest Sub-National Debt Instrument Issuance and Capital Market Excellence Award, respectively.

Chapel Hill Denham was recognised in two categories, namey: Cross-Border Trade Facilitator of the Year and Fund Manager with the Largest Listed Fund Size.

Cordros Capital and Kairos Capital both won the award for the Issuing House with the Highest Number of Primary Market Transactions (Equity Category).

Other winners were Pilot Securities Ltd as Most Compliant Trading License Holder; Vetiva Capital Management as the ETPs Trader of the Year and

Regency Asset Management Ltd as Fixed Income Trader of the Year.

Also, FCMB Capital Markets Ltd as the Issuing House with the Highest Number of Debt Issuances (Corporate Bonds) and Banwo and Ighodalo as the Best Solicitor in terms of Value of Deals.

The Capital Market Correspondents Association(CAMCAN) was also recognised for its substantial contributions to fostering capital market activities and influencing public perception of the market.

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MTN lauds NGX for democratising access to securities

MTN’s Group Chief Executive Officer, Mr Ralph Mupita, has lauded the Nigerian Exchange Ltd. (NGX) for democratising access to financial securities, thereby empowering more Nigerians.

He said this in recognition of the importance of the partnership between MTN and NGX when he paid a courtesy visit to the management of the Exchange, led by its CEO, Mr Temi Popoola, on Tuesday in Lagos.

To mark the occasion, Mupita was given the honour of sounding the closing gong.

In February 2022, MTN and NGX announced the signing of a Memorandum of Understanding (MoU) to further promote financial literacy and enhance retail participation in the Nigerian capital market.

The announcement was made at a signing ceremony led by Popoola and the CEO, MTN Nigeria, Mr Karl Toriola.

The MoU was a two-year partnership that would see NGX and MTNN collaborate to develop capital market solutions, leverage technology to support data dissemination and technology-as-a-service.

It will also promote capacity development and eliminate barriers to retail participation in the capital market.

Commenting on the partnership, Popoola commended MTN for its unwavering efforts in advancing Nigeria’s technology landscape through substantial investments in infrastructure and digital transformation.

Popoola said: “We are proud to acknowledge the advancements made through the successful public offering in 2021 and the MoU signed last year.

“These initiatives have successfully attracted a notable portion of the younger generation to the capital market, aligning with our goal to increase retail participation.

“I would also like to specially acknowledge the efforts of the financial advisers on the landmark offering led by Chapel Hill Denham.

“We are optimistic about the prospects of a mutually beneficial partnership with MTN that will reinforce the Nigerian economy and foster sustainable growth for the African continent.”

According to Mupita, within a year of signing the MOU, a lot has been achieved due to the hard work invested on both sides in forging and sustaining a productive partnership.

“At MTN, we believe we have a responsibility to ensure that our customers not only stay connected but can access increasing value and better services through our network, deepening their participation in the digital economy.

“Our collaboration with NGX gave us the opportunity to empower our customer base with the tools and knowledge to engage effectively with the capital market and meet their financial and investment objectives.

“For this, NGX deserves to be commended for democratising access to financial securities, and thereby empowering more Nigerians,” said Mupita.

On his own part, Toriola said, “We will continue to identify other areas of cooperation with NGX and we look forward to a continuous mutually beneficial partnership that will contribute to the inclusive growth of the Nigerian economy.”

The courtesy visit coincided with the first anniversary of its public offer in Nigeria, which was completed on Jan. 31, 2022.

It is the first public offer to be conducted via a digital platform in Nigeria.

The offer expanded MTN Nigeria’s domestic shareholder base to include 126,720 retail investors alongside a range of institutional investors, including Nigerian pension funds representing approximately 6.5 million Nigerian contributors.

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MTN rolls out 5G, targets five cities in one month

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The Chief Executive Officer of MTN Nigeria, Mr Karl Toriola, had said MTN was ready for rollout, having the required 5G equipment on the ground.

A source close to MTN Nigeria disclosed that MTN kept to its promise by commencing the rollout of its 5G network from Lagos and Abuja, with plans to cover five cities within one month of the rollout. The cities include Lagos, Abuja, Port Harcourt, Enugu and Kano.

Owing to the development, MTN has called on telecom subscribers to begin pre-order their 5G devices to enable them to enjoy the high-speed internet download with low latency that is associated with 5G, since not all devices can access the 5G network.

“The wonder of 5G is coming! Be among the first Nigerians to experience this incredible technology. Visit www.mtn.ng/5g-router to pre-order our 5G router now”, this was the message on MTN social media channels on Tuesday, August 23 2022, signalling that the mobile network operator has opened its portal for Nigerians to pre-order for 5G routers.

Recall that, Mafab Communications and MTN Nigeria last December won the license for the rollout of 5G service and going by the conditions of the license, the two operators were expected to roll out the service effective from today August 24, 2022.

However, while MTN is forging ahead with its plans today, Mafab has 5 more months to prepare.

The Director, Public Affairs at NCC, Mr Reuben Muoka, who confirmed the 5-month extension given to Mafab, said that NCC decided to extend the rollout date for Mafab alone because the company does not have an operating licence to roll out a 5G network.

“The 5G licence comes with frequency licence and not operational licence. So Mafab only has a frequency licence and does not have an operational licence and it needs to apply for a telecom operational licence to enable it to roll out 5G services and other telecom services.

“The five months extension will enable Mafab to process its telecom operational licence,” Muoka said.

Source: Sun

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MTN boss tasks youths on self-development

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Mr Karl Toriola, Chief Executive Officer, MTN Nigeria, has urged youths to rise above  challenges by investing in self-development, to thrive in a competitive and dynamic business environment.

Toriola gave the advice in Lagos at the Nigerian-British Chamber of Commerce (NBCC) sharing experience series with the theme: “Winning in a Competitive Dynamic Telecommunication Sector”.

This is according to a communiqué on the event issued by the NBCC media team, made available on Thursday.

The NBCC Sharing Experience Series is a monthly event.

It was created to give outstanding leaders in the private sector a forum to discuss experiences in entrepreneurship and professional careers driven by passion, daring and innovation.

Toriola said that the young generation should be abreast of the developments and trends across the world, to be able to proffer solutions.

“The world is changing so quickly and sometimes I think the millennials should be advising us on what the future is bringing towards us,” he said.

The MTN boss said that his journey into telecommunication which started in 1995 was triggered by his desire to do something exciting while at Shell petroleum.

According to him, the highlight of his journey was the decision to develop himself.

He said that the attributes which helped him overcome challenges were his ability to learn, adjust, and move ahead regardless of the error made.

Toriola disclosed that one of his MTN achievements was launch of the fifth generation network, which would be done in the coming weeks.

“This is an anticipated technology in the telecommunication sector.

“It is intended to provide more users with higher peak data rates of many gigabytes per second, extremely low latency, increased dependability, huge network capacity, increased availability and a consistent user experience,” he said.

In her remarks, Mrs Bisi Adeyemi, the NBCC President, represented by the Deputy President, Ray Atelly, described the series as a signature event of the chamber.

Adeyemi said that the signature afforded accomplished leaders in the private sector a stage to share their success tales.

MTN

MTN’s subscribers decline by 1.3 million

MTN Nigeria Communications Plc (MTN Nigeria), says its mobile subscribers declined by 1.3 million to 70.2 million following the regulatory restrictions on new SIM sales and activation.

 The telecommunication company said this in its unaudited results for the first quarter ended March 31, 2022, and made available to the Nigerian Exchange Ltd., (NGX) on Thursday in Lagos.

MTN Nigeria said that it also recorded an additional 1.7 million subscribers between the first quarter of 2022 and fourth quarter of 2021, while active data users increased by 3.4 million to 35.9 million year-on-year.

The company recorded 1.6 million active users between the first quarter 2022 and fourth quarter 2021.

Active fintech subscribers rose by 6.2 million to 10.7 million year-on year and an additional 1.3 million subscribers in first quarter 2022 from fourth quarter 2021.

Also, earnings before interest, tax, depreciation and amortisation grew by 25.7 per cent to N257.1 billion with increased margin of 1.5 per cent to 54.6 per cent

The company’s service revenue also increased by 22 per cent at N469.8 billion, while profit after tax grew to N96.8 billion, representing an increase of 31.3 per cent.

Earnings per share rose by 31.3 per cent to N4.76 and capital expenditure (Capex) rose by 80.8 per cent to N162.5 billion up 156.8 per cent to N81.2billion, excluding right of use assets.

Dividend of N8.57k per share was recorded for financial year 2021, it added.

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MTN’s public offer over subscribed

MTN Nigeria Communications (MTNN) has announced that its first public offer for sale of 575 million shares recorded an over subscription of 139.47 per cent.

This is contained in a statement signed by the MTNN Company Secretary, Uto Ukpanah, posted on the Nigerian Exchange (NGX) website.

The statement said that the offer was 139.47 per cent oversubscribed,  activating the allocation of an additional 86.25 million shares.

It disclosed that 661.25 million MTNN shares were allowed adding that 126,720 retail investors submitted valid applications  and received full allotment.

The statement added that 114,938 new Central Securities Clearing System (CSCS) accounts were created representing new market participants.

It said that approximately 76 per cent of successful applicants via digital platform were women and 85 per cent were under age 40.

The statement also said that following the successful completion of the offer, MTN Group shareholding in MTNN reduced by 3.25 per cent, from 78.83 per cent to 75.58 per cent.

Commenting on the offer,  MTN Group Chief Executive Officer, Mr Ralph Mupita, said: “we are pleased that this offer has given so many Nigerians the opportunity to become owners of MTNN with over 6.6 million Nigerians directly or indirectly becoming shareholders in MTNN.

“The objective of broadening the shareholders base and creating shared value has been achieved. We are proud that our offer was the first Nigerian public offer to use the digital application platform, primary offer,which enabled wider investor participation across Nigeria.

“We thank the Nigerian authorities for their support of this offer, we remain committed to playing our humble role in driving digital and financial inclusion in Nigeria over the medium,” Mupita said.

Also, Mr Karl Toriola, Chief Executive Officer, MTNN said: “we are delighted to welcome so many new shareholders to the MTN family, up 11.6 times from the number before the offer.

“It has been inspiring to see so many Nigerians, many of whom are young, acquire shares for the first time and use a digital platform to do so.

“This is the beginning of a journey to broaden our shareholding and there will be more opportunities to participate.

“We are pleased with the level of digital innovation we championed with this offer with the active collaboration of our lead issuing house and the various regulatory bodies.

“Deepening retail participation in Nigeria’s capital markets is a process and we are off to a great start, demonstrating the role digital platforms can pay in expanding access,” Toriola said.

Mr Bolaji Balogun, the Chief Executive Officer, Chapel Hill Denham, the local issuing house said: “Chapel Hill Denham is honoured to have worked with MTN to complete Nigeria’s first digital and predominantly green offering.

“I wish to thank the Securities and Exchange Commission (SEC), NGX, CSCS all the professional firms and other stakeholders, for delivering a big win for Nigeria’s capital markets in enabling the adoption of primary offer and this transaction marks a new and exciting future.

“Over 90 per cent of subscribers to the offer were first time participants in the capital markets and MTNN’s instrument case made this possible,” Balogun said.

NGX’s Chief Executive Officer, Mr Temi Popoola, said: “NGX is proud to have worked with MTNN, Chapel Hill Denham and other parties to the transaction in advancing Nigeria’s capital market through the adoption of forward-looking technology.”

The CSCS Chief Executive Officer, Alhaji Haruna Jalo-Waziri, said: “we are excited to be part of the innovation brought by the offer, which afforded the successful launch of primary offer digital application platform.

“This further buttresses the necessity for digital transformation, allowing market access for all categories of investors, including institutional and retail investors within and outside of the country.”

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MTN, MAFAB win provisional licences for NCC’s 5G spectrum auctioning

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The Mobile Telephone Network (MTN) and MAFAB Communications Ltd have emerged winners of the  Nigerian Communications Commission’s (NCC’s) 3.5 gigahertz (Ghz) Fifth Generation (5G) Technology spectrum auction.

The Fifth Generation (5G) Technology spectrum auction ended with the total sum of $273.6 million per lot of 100 MHz TDD.

The bidding was in two stages that came in Main stage and Assignment stage.

In the assignment stage, two slots of 100MHzTDD available at 3.5GHz band were for bidding to support the delivery of broadband services for the deployment of 5G in Nigeria.

The bidders were: Mobile Telephone Network (MTN), Airtel Nigeria and MAFAB Communications ended at the Main stage and dropped down to two bidders.

NCC was auctioning two slots in the 3.5 gigahertz (Ghz) 5G spectrum.

The auctioning was organised by NCC, in conjunction with the Ministry of Communications and Digital Economy, on Monday in Abuja.

The first round of the auction, which took off with the three bidders, started with the price of the spectrum $197.4m to $199, 374m untill it ended in round 10 at $263,017,050.77 million.

The Executive-Chairman, NCC, Prof. Umar Danbatta, who announced the results, reiterated that the commission followed due process for the bidding.

Danbatta said that the winners were expected to pay on Feb. 24, 2022, with the prevailing Central Bank of Nigeria (CBN) exchange rate.

He recalled that the allocations at the international level were granted approval for 5G trial in Nigeria in November 2019.

“Arising from the above, the Winning Bid Price for the Auction is USD$273,600,000 for each lot of 100 MHz TDD.

He congratulated the winners and thanked the government for its support and commitment to the deployment of 5G technology in Nigeria.

He said this would bring sustainable network improvements, higher connection speed, mobility and capacity as well as low latency capacities to Communications services in Nigeria.

“The Provisional Licence Winners are expected to pay the Winning Bid Price less the Intention-to-Bid Deposit, by Feb. 24, 2022.

“We are happy to state that the Auction process was efficient, fair, well-organised and transparent, and was designed to deliver the ideal outcome.

“Accordingly, the strongest bidders have emerged provisional winners, raising a substantial amount for the Federal Government.

“Today’s auction represents a culmination of all the efforts at the international and national levels that have prepared Nigeria for this momentous leap forward.

“The auction is based on the powers bestowed on the Commission by Section 121 of the Nigerian Communications Act 2003 as well as the Licensing Regulations 2019,” he said.

The successful bidders are anticipated to choose the 3.5 GHz frequency band at the end of the Main Auction.

MTN Nigeria marks 18 years of operations

MTN gets commendation for gloating shares  

The National Coordinator, Progressive Shareholders Association (PSA), Okezie Boniface, has commended MTN Group for its decision to sell up to 575 million shares in MTN Nigeria to institutional and retail investors.  

He made the commendation at an Investors Forum held at the Lagos Marriot.  

Speaking at the investors’ forum, Boniface described the move as a testament to the Nigerianness of the company and said it would allow more Nigerians to be part of the success story.  

He said: “I would like to commend the MTN Group for reducing their shareholding to enable more Nigerians the opportunity to own shares in MTN Nigeria. Their decision clearly shows that today, MTN is no longer a foreign company, it is now Nigerian.  

“To me, MTN is the best company to invest in for Nigerians so I am urging every retail investor and other Nigerians to take advantage of this public offer.” He concluded.  

MTN Nigeria’s public offer, which is the first to be delivered digitally in Nigeria, is being sold to retail investors at N169 per share. The offer is the first from MTN since the 2019 listing on the Nigeria Exchange Limited (NGX) and the company seeks to take advantage of digital integration to ensure substantial participation from investors across Nigeria.  

Following the launch of its public offer, MTN Nigeria began a nationwide road show to engage interested retail investors in the ongoing offer by MTN Group for shares in the company.  

The road show, led by key MTN Executives including the Chief Executive Offer, Karl Olutokun Toriola and Chief Financial Officer, Modupe Kadri, has made stops in several Nigerian states including Sokoto, Kano, Gombe, Akure, Enugu, Calabar and Port Harcourt.  

Source  

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MTN’s 575 million shares for retail investors at N169 per share

MTN Nigeria Communications Ltd. (MTNN) has announced that its public offer to retail investors for the sale of 575 million shares held in MTNN by MTN Group, will be prices at N169 per share.

This is contained in a notice signed by the Company Secretary, Uto Ukpanah posted on the website of the Nigerian Exchange (NGX) Liter on Tuesday in Lagos.

According to the notice, the offer will open on Dec. 1 by 8:00 a.m. to close on Dec. 14 by 5:00p.m., the minimum subscription is for 20 shares and lots of 20 share thereafter.

It said that the offer includes an incentive in the term of one free share for every 20 shares purchased, subject to to maximum of 250 free shares per investor. The incentive is open to retail investors who buy and hold the shares allotted to them for at least 12 months, post the allotment date.

The notice explained that the retail offer is first in Nigeria to be delivered via a digital platform. By using the power of technology, it aims to facilitate the maximum possible participation by Nigerian investors.

MTNN Chief Executive Officer, Mr Karl Toriola said: “The success and growth of MTNN is intrinsically linked to that of Nigeria and Nigerians. Therefore, we are very excited to offer Nigerian the opportunity to own shares in MTNN.”

The Group President/Chief Executive Officer, Mr Ralph Mupital said that the offer aligns with MTN Group’s strategic priority to create shared value.

“In the last 20 years, we have worked diligently to connect 68 million subscribers onto voice and data networks and ensure that we deliver the benefits of a modern connected life.

“With this offer, we will contribute tot he further deepening of Nigeria’s equity capital markets. It is the first in a series of transactions as the MTN Group implements it’s plan to ensure broad-based ownership by reducing it’s shareholding in MTNN to 65 per cent over time.

“We thank the Nigerian authorities for the support we as a Group have received in the various approvals related to this offer and remain committed to plat our humble role in driving digital and financial inclusion across the country over the medium-term,” he said.

According to the notice, investors WI be able to submit applications through issuing houses, receiving agents, online, via a unique digital application platform.

MTN

MTN offers priority to retail investors in sale of shares  

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At least 90 percent of the 575 million shares of MTN would be taken by retail investors.  

This information was contained in the indicative terms of the proposed offer obtained by Business Post on Tuesday night.  

Yesterday, the telco announced that it has received the approval of the Securities and Exchange Commission (SEC) to go ahead with the exercise, which is expected to wrap up this month.  

The firm is offering the ordinary shares held by its parent company, MTN International (Mauritius) Limited to boost liquidity in the market.  

The sale is in two parts and it involves the offering of a minimum of 10 per cent to institutional investors through bookbuild and 90 per cent to retail investors at a fixed price.  

The bookbuild commenced yesterday and will close this Friday and thereafter, the sale to retail investors will commence, though the exact date is yet to be announced.  

This institutional sale, investors would be required to purchase a minimum of 20 shares and multiples of 20 shares thereafter.  

It was disclosed that there is an incentive for the purchase as one free share would be given for every 20 shares purchased and allotted, up to a maximum of 250 shares per investor, though the terms and conditions apply.  

Source  

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