MTN Group Ltd has valued its mobile-money arm at about $5 billion and will consider a listing of the division, joining African wireless carriers trying to monetize a service that is particularly popular on the continent. The move comes after Mastercard Inc. and TPG Holdings LP invested $300 million in Airtel Africa Plc’s mobile-money business at a $2.65...
Read MoreBy David Fickling Oil can be both a blessing and a curse. In Nigeria, it has mostly been the latter. Just a decade after crude was first discovered in 1957, it was already tearing apart the young country in civil war. Production has never far exceeded the 2.3 million barrels a day...
Read MoreThe Nigerian Communications Commission (NCC), Umar Garba Danbatta, has said that robust digital infrastructure and literacy are key to reaping the transformational benefits of Information and Communication Technology (ICT) across public and private institutions in the country. Danbatta stated this when he received a delegation of the Top Management Committee (TMC) of the Aminu...
Read MoreSouth Africa opened up a telecommunications contract to supply 1.2 million government employees, allowing arch-rivals MTN Group Ltd. and Vodacom Group Ltd. to share in the state business. MTN was added to the agreement previously awarded exclusively to Vodacom in 2016, according to a statement on Tuesday. READ THIS ALSO: Top Nigeria security officials, others stash away $400...
Read MoreChina’s Xiaomi Corp plans to make electric vehicles (EVs) using Great Wall Motor Co Ltd’s factory, said three people with direct knowledge of the matter, making it the latest tech firm to join the smart mobility race. The tech firm’s stock price was up more than 9 percent in afternoon Friday trade after Reuters...
Read MoreNavigating Nigeria’s foreign exchange rate policy is tricky. There are multiple exchange rates; officials issue confusing and contradictory statements; promised reforms don’t materialize; and the central bank and finance ministry don’t always appear to see eye-to-eye on how to manage the naira. Economic fallout from the pandemic, including a deterioration in state finances, has made...
Read MoreBy Samuel Bankole Airtel Africa on Tuesday said it has signed agreements to sell its telecommunications tower companies in Madagascar and Malawi to Helios Towers Plc for a consideration of $108 million. The telecoms firm in a regulatory filing with the Nigerian Exchange Limited, Airtel said proceeds from the transaction will be used to...
Read MoreThe Nigerian Communications Commission (NCC) will finalise work on electronic waste (e-waste) regulations as soon as it concludes consultations with relevant stakeholders on the draft regulation. According to the Executive Vice Chairman of the commission, Umar Garba Danbatta, the NCC had drafted the Nigerian Communications Industry E-Waste Regulations in 2018 with the objective to...
Read MoreBy Marcel Okeke Since the onset of the novel Coronavirus pandemic about one year ago, Nigeria’s monetary and fiscal authorities have been churning out a potpourri of policies to deal with the dreaded pestilence and its impact, just like all other nations of the world. Unsurprisingly, some of the policy measures have been ill-digested,...
Read MoreBy Samuel Bankole MTN Nigeria has launched the issuance of N100 billion in Commercial paper of 180-day and 270-day, which was opened to investors by Thursday. According to the financial advisor to the offering, the local unit of South Africa’s telecoms firm launched the debt raising under its N200 billion Commercial Paper Programme....
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