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MTN to Offer Nigerians Shares, Lists on NSE May 2018

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Nigerians willing to put their money in MTN Nigeria, may have to wait till May 2018 because Mr Rob Shuter, chief executive officer (CEO) of MTN Group, has said that the firm was making underground plans for an initial public offering of its Nigerian business

 

This is expected to be completed in the next six months.

 

According to him, “We have a lot of advisers running around getting everything ready, it is a complicated process and there’s a lot of regulation that needs to be arranged. We are moving forward well with the project and anticipate concluding that in the next six months or so.”

 

Mr Shuter told Bloomberg that he was pleased with MTN’s operations in Nigeria and would definitely fancy listing its stocks on the NSE.

 

As at the last figure released by the National Bureau of Statistics (NBS), MTN Nigeria controls 39.73 percent of Nigeria’s 152.46 million subscriber base.

 

In June this year,  Nikiwe Tsaagane, general manager of MTN, assured the Federal Government that the leading telecommunications firm in the country will list its shares on the Nigerian Stock Exchange (NSE).

 

He had told Mr Ogbonnaya Onu, minister of Science and Technology, that plans were underway to make shareholders apply for the listing digitally.

 

“To achieve this, we are working with the Nigeria Stock Exchange to develop an application platform to enable our customers apply online. It would be the first time such is happening in the country,” Mr Tsaagane informed the Minister.

 

In August 2017, Mr Mounir Gwarzo, director-general of the Securities and Exchange Commission (SEC),  told journalists after the second Capital Market Committee (CMC) meeting in Lagos that discussions were ongoing with leading GSM service provider on its planned listing on the NSE.

 

He had promised that outcome of the talks would be known to the public when finalised.

 

“Concerning listing of MTN (Nigeria) on the Nigerian Stock Exchange, we have started discussions with them and also given them ideas on how to make it possible.

 

“We hope very soon, when the discussions are over, the company will announce its listing to investing public.

 

“I believe it (the listing) will boost our economy and showcase Nigeria as a good place to invest,” the SEC chief told newsmen.

 

The Nigerian government had said telecommunication firms operating in the country should list on the local bourse, though nothing concrete was yet to be realised.

 

The South African company, which boasts of over 60 million subscribers in Nigeria, is presently paying a fine to the Nigerian government and agreed to the Lagos IPO as part of the settlement of a $1 billion fine.

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Telecom

Glo Unveils Smartphone Festival, Offers Customers Freebies

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Globacom has unveiled an initiative tagged Smartphone Festival aimed at giving unbeatable value to its customers who desire to own various categories of smartphones.

The company is making the offer in partnership with original equipment manufacturers (OEMs), including Samsung, Nokia, Huawei, Infinix and Techno, among others.

With the Smartphone Festival, Glo customers will be able to get smartphones of their choice at the best price from any Gloworld shop across Nigeria.

In addition, each smartphone purchase will come with six months of free data, extended warranty, screen guards, memory cards and phone covers, among many other freebies.

Globacom said customers will also be entitled to free recharge card or voice bundle on every purchase just as they will enjoy personal attention and first-class customer care service.

A statement from Globacom’s head office said the offer was conceived as a way of encouraging numerous customers to own smartphones of their choice so as to be able to harness the immense benefits inherent in the communication tool.

“The offer is consistent with our commitment to meeting and exceeding our customers’ expectations,” the company said.

Smartphone Festival will hold every two months and will last for 15 days. Globacom customers who wish to avail themselves of this offer are required to walk into any of the company’s retail outlets nationwide to pick any smartphone of their choice.

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Reps Commend NCC for Tackling Call Masking

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House of Representatives Committee on Financial Crimes has expressed its satisfaction with the measures so far taken by the Nigerian Communications Commission (NCC) with a view to curbing the menace of call masking and refiling in the country,

 

This is coming as the NCC vowed to deploy a technological solution that will enable tracking of SIM boxes used to perpetuate the fraud.

 

Speaking while leading other members of the committee to a high-level meeting at the Headquarters of the Commission yesterday in Abuja, Mr Kayode Oladele, Chairman, expressed concerns on the dangers portend by the menace of call masking in the country.

 

The committee would later listen to presentations on the complex problem from top echelon staff of the regulator led by Prof Umar Garba Danbatta, executive vice chairman of the NCC.

 

“Within a very short time we are very impressed by the responses and I wish Nigerians could be told about what we have done here today. Many people feel that nothing has been done whereas so much has been done, except that if you ask me what we have achieved today I will say that I am leaving here more confused because the problem is bigger than what we thought,” said Oladele at the end of the meeting.

 

Earlier, the NCC boss had told the committee that the menace is not peculiar to Nigeria’s telecom industry alone and the agency had already assembled its finest technical brains to select the best technology solution to be deployed for detecting SIM boxes used by the perpetrators in the country.

 

“When we notice a phenomenon which is anticompetitive or undermining the security of the land we promptly take actions. In this regard, we have taken some steps to ensure that operators licensed by the commission abstain from the act. And we noticed an anecdotal improvement as the numbers came down reasonably. Yet all of a sudden we have an additional dimension, SIM boxing.  These are electronic boxes with a capacity to receive and transmit calls.

 

“We are at a loss how these items of equipment find their way into this country because we don’t type-approve them, and we couldn’t have type-approved them. It’s illegal to bring SIM boxes into the country,” he pointed out.

 

According to him, other African countries bedeviled by the same menace of call masking have successfully used technology solutions to tackle it, adding that the commission would soon speed up its procurement process to ensure its deployment in Nigeria.

 

Speaking further, the NCC boss said that the regulator had to resort to taking administrative sanctions on operators including the recall of redundant numbers to ensure that they were not used in undermining the security of the land, among other several measures taken to nip the crisis in the bud.

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Nigeria Nominates Dr. Hussani For Africa Telecom Union Secretary General

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The federal government of Nigeria has fielded Dr. Abubakar Sadiq Hussani as its candidate for the position of secretary-general of the African Telecommunications Union (ATU) in the forthcoming ATU Plenipoteniary Conference holding August 16-17, 2018 in Nairobi, Kenya.

In the last one week, Nigeria signified its interest to compete for the exalted position of the Secretary General of the Africa Telecom Union (ATU), the African teleocm body for the period 2019 to 2022 through a diplomatic note verbale  No. A.90/2018 dated 13th July 2018 sent by the federal government and published by the ATU on its webpage, among other documents acknowledged via a Note-by-the Secretary-General Ref 079/07/ATU/SG-2018 dated 17th August 2018.

Dr Abubakar Sadiq Hussani, a former assistant professor of telecom engineering, Modibbo Adama University of Technology, Yola,  and the current head of department of telecommunications and wireless technologies of the American University of Nigeria as well as head of programme for the 54-member British Commonwealth ITU Group (CIG). He was proposed by Nigeria as its candidate for the August contest.

The diplomatic document stated that Dr Hussaini possesses a great wealth of experience in telecommunications which are necessary attributes to hold the prestigious office on the continental level.

At the close of nominations on July 17, 2018 only four countries have signified their interest to field candidates for the contest in line with the ATU circular Ref. 06/01/ATU-CIR/2018 of 16th January 2018. The remaining three are Burundi, Congo Brazaville and Kenya who fielded Mr Constaque Hakizimana, Dr Eric Ndoumba, and Mr John Omo respectively.

Three of the four candidates are accomplished telecoms Engineers while the Kenyan Candidate Mr Omo is a Lawyer. Glancing through the CVs of candidates, if the election is to be determined in terms of technical and cognate experience of managing international organizations, Dr Hussaini of Nigeria stands a very good chance.

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