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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.

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NCC puts VAS Market Worth In Nigeria at N79Bn

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The Value Added Service (VAS) market is valued at N79billion ($220 million), the Nigerian Communications Commission (NCC) has disclosed.

Mr Efosa Idehen, the commission’s Director of Compliance Monitoring and Enforcement, made this known during the 2nd Value Added Service (VAS) Stakeholders Forum on Tuesday in Lagos.

Idehen said that VAS was an important component of the Nigerian telecommunications ecosystem necessary for optimising the benefits of telecommunication services to consumers.

He added that VAS was non-core service beyond standard voice calls, SMS and data products.

According to him, VAS enables mobile network operators to develop additional revenue streams and can be used in any service industry for services available at little or no cost to promote their primary business

“The Nigeria VAS market, which is presently valued at about N79 billion ($220 million) is estimated to grow to about $500 million in 2021.

“The recent reform the commission embarks on in the VAS segment of the market is a further recognition of significant role of VAS in the entire telecommunications ecosystem,” he said.

The director said that like every service, there were both positive and negative impact of VAS on consumers but the positives far outweighed the negatives.

He said that the commission therefore deemed it fit to find a balance between enabling the opportunities that the VAS providers offered to consumers while at the same time mitigating the challenges or inconvenience they could constitute to other consumers.

According to him, in finding a balance, service providers are licensed by the commission and are allowed to operate and provide value added services to consumers.

He added that “consumers are empowered through the Do Not Disturb (DND) facility to choose whether to allow or block access to these services on a full or partial basis.

”Consumers have been at the receiving end of unsolicited messages, fraudulent deduction of consumers’ credit for VAS not subscribed for, among others.

”And subscribers are asking if what the telecommunications companies and their third parties are adding is ‘value’ or ‘pain’ services,” he said.

Idehen said that with that in mind, NCC introduced the DND number 2442, which empowered consumers to block all unsolicited messages and VAS services.

He said that the commission issued a direction requesting that network providers should ensure that information on the DND service be disseminated after every revenue generating activity via the End of Call Notification (EOCN).

The director said that the EOCN would run for the period not less than 45 days and within the hours of 8am to 8pm daily from the receipt of the latest letter on the subject.

He said that the operators were also admonished to deploy this information through all their channels of communications.

The channels of communications include websites, social media platforms, bill boards, flash messages, text messages, Interactive Voice Response platform, radio jingles, newspapers advertisements and television commercials.

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NCC Sets Up Service Level Agreements for Opertaors

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Nigerian Communications Commission (NCC) has commenced the review of its customer Service Level Agreements (SLAs) for the resolution of consumer complaints and escalations to Service Providers.

 

This measure is designed to ensure faster and more effective resolution of consumer complaints in the telecoms industry and improve overall consumer experience on all telecoms networks.

 

The review will be carried out by a joint NCC-Industry Working Committee which the Commission has set up so as to ensure robust Stakeholder participation in the exercise, and in furtherance of its consultative approach to rule-making.

 

Speaking during the inauguration of the NCC component of Working Committee, at the Commission’s headquarters in Abuja, Mr. Sunday Dare, executive commissioner, Stakeholder Management (ECSM) of NCC, reemphasized the Commission’s uncompromising commitment to ensuring superior consumer experience on all telecoms platforms.

 

He noted that as a consumer-centric telecoms regulator, the NCC believes that effective and timely resolution of consumer complaints as fundamental elements of consumer protection, pointing out that these are also fundamental statutory obligations of the Commission as detailed in Sections 4 and 105 of the Nigerian Communications Act (NCA), 2003; the Quality of Service Regulations 2013, the Consumer Code of Practice Regulations, 2007 and other similar instruments.

 

Dare, therefore charged the Committee to ensure that reviewed SLAs entrench the Commission’s consumer-centric focus, whilst also taking due cognizance of the relevant ecosystem, technology and other factors affecting QoS.

 

It would be recalled that the NCC had met with service providers and ALTON, the umbrella industry organisation in Lagos on the 26th of September, 2018 to discuss ways of enhancing the speed and quality of complaints resolution.

 

At that meeting, the Commission had expressed its strong displeasure about delays in complaints resolution, while operators pointed to the need to review some of the SLAs to reflect developments in technology and other factors impacting performance.

 

The meeting therefore resolved to establish a joint NCC-industry Working Committee to study the matter and make recommendations which the Commission will take into consideration in setting out new complaints resolution SLAs for the industry.

 

Dare noted that the NCC component of the Working Committee comprised of subject-matter experts drawn from the various departments of the Commission.

 

He therefore charged them to bring their expertise to bear in developing to SLAs and KPIs which will deliver enhanced consumer experience (CX) and superior Quality of Service (QoS) for telecom consumers on all networks in Nigeria.

 

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Glo Subscribers to Win N4.8m in Online Talent Contest

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Yuletide promises to be exciting as telecommunications giant, Globacom, unveils an online talent competition in which creative subscribers stand to win a total of N4.8 million in cash prizes.

“As part of our celebration of the festive season, we are offering our subscribers the chance to break the internet with excitement in 60 seconds. Just for uploading a video of themselves doing what they enjoy doing, they stand a chance of winning fantastic cash prizes in the competition,” Globacom enthused in a press statement released from its Lagos Corporate Head Office.

Tagged GLOIN60SECONDS, the competition which is already garnering rave reviews as the biggest online talent engagement, will run via social media platforms including Facebook, Instagram and Twitter.

Participants are expected to  upload a one-minute music, dance, comedy, poetry or any other creative ability video of themselves showcasing their talents on their social media accounts such as Facebook, Instagram or Twitter and hashtag it on #GLOIN60SECONDS .

They will subsequently be expected to follow Glo on any of the company’s social media pages @Globacomlimited on Instagram, @Gloworld on Twitter and Gloworld on Facebook record and upload the video and register online for the campaign which will run for 8 weeks from December 10, 2018, to February 3, 2019.

Globacom said that participants could upload as many videos as possible per week, but that the videos would only be eligible for weekly prizes in the week uploaded. “To be eligible for prizes in other weeks, they could upload as many videos every week. However, these videos will be eligible for Grand Finale entry.”

According to the network, seven lucky contestants with the highest video likes will win 50,000 each every week, making a total of 56 winners followed by the grand finale in which N200, 000 consolation prizes will be presented to 5 runners-up. A grand prize of 1 million naira will also be won by the overall winner.

Globacom added that “Glo in 60 seconds is, therefore, meant to engage, showcase budding talents and reward young creative people in Nigeria’s social media space.

“We call on young talented Nigerians to make optimum use of this opportunity, follow Glo on any of the social media pages, upload their video, register and get their friends and family members to like the video and they could win N50, 000, N200, 000 or even the grand prize of N1m.”

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