Telecom
5 Types of People to Expect at MTN’s Annual General Meeting
Annual General Meeting (AGM) of MTN Nigeria is scheduled to hold on the 18th of April at The Balmoral Convention Centre, Federal Palace Hotel. MTN’s shareholders will potentially get a dividends payout of 203.5 billion as their share of profits from the financial year 2022.
This is coming after qualified shareholders from the public offer also got incentive shares as promised during the public offer.
MTN Nigeria’s Chief Executive Officer, Karl Olutokun Toriola noted, “In 2022, we significantly increased our shareholder base through the MTN Group’s offer for sale of shares. The offer, which concluded on 31 January 2022, was the first in the series of transactions to increase Nigerian ownership of the company.
The qualified investors who held some or all the shares allotted to them for 12 months to 31 January 2023 have received the incentive shares totaling 3,977,418.”
For some, it’s a time to catch up on important business matters and network with fellow shareholders. For others, it’s a chance to grab some free refreshments and a comfy chair. Whatever your reason for attending, one thing is for sure: you’re bound to run into these five types of people.
- The “I Know Everything” Person
This person has read every report, every memo, and every email related to the AGM. They know every detail about the company and can recite the entire annual report from memory. They raise their hand for every question and offer lengthy, convoluted opinions on every matter. They’re convinced that their ideas are the best, even if they’re completely impractical.
- The “I Have a Complaint” Person
This person is here to air their grievances. They’ve been waiting all year for this moment to tell everyone about the problems they’ve encountered with the company. They don’t have any solutions or suggestions; they just want to complain. They’re usually the first to raise their hand for questions and the last to leave the room.
- The “I’m Here to Network” Person
This person is the ultimate networker. They know everyone in the room and they’re determined to meet everyone they don’t know yet. They’re handing out business cards left and right and making small talk with anyone who will listen. They’re not particularly interested in the AGM itself; they’re just using it as an excuse to make some new connections.
- The “I’m Too Important to Be Here” Person
This person walks in late, sits in the back, and spends the entire meeting scrolling through their phone. When it’s time for questions, they stand up, ask something completely unrelated to the agenda, and then leave without waiting for an answer. They’re usually high up in their company, but they have no interest in what’s going on at the AGM. They’re just there to make an appearance and then go back to their busy schedule.
- The “I’m Here for the Free Food” Person
This person doesn’t care about the agenda, the reports, or the speakers. They’re just here for the free coffee and snacks. They load up their plate with pastries and fruit and then sit back to enjoy the show. They’re not interested in contributing to the conversation; they’re just happy to have a reason to leave their desk for a while.
Look out for these people at the AGM and if you see any of them, ask them why they bought MTN shares if they won’t be paying any attention.
And there are proud shareholders like us who will not attend the AGM but glued to our phones on April 20th when the alert for dividends payout will start rolling in. That’s how you roll when you invest in a profitable company like MTN.
MTN Group, Africa’s leading telecommunications provider, has joined forces with Meta to improve the quality and reliability of voice and video calls on real-time calling applications such as WhatsApp across 12 MTN markets.
The collaboration, which began at the Mobile World Congress (MWC) 2024, focuses on optimizing application-aware networks and network-aware applications to deliver a seamless and high-quality user experience. By leveraging data analytics and conducting comprehensive testing, MTN and Meta have successfully developed solutions that enhance the interaction between mobile networks and real-time calling applications.
Nigeria, MTN’s largest market, was the first to implement these enhancements. Early results indicate a remarkable 50% improvement in key performance indicators (KPIs), significantly enhancing the user experience for MTN Nigeria mobile users.
“This implementation further demonstrates our commitment to enhancing our customers’ digital experience.
“We’re pleased with the remarkable improvement in our real-time communication services, reflecting our commitment to innovative customer solutions,” said Yahaya Ibrahim, Chief Technology Officer (CTO) at MTN Nigeria.
Diego Marí, Head of Network Ecosystems Engineering at Meta, added, “The collaboration allows us to deploy advanced solutions for an unparalleled real-time experience in Nigeria and showcases our dedication to elevating service quality and improving user experience, while striving for continued efficiency in traffic delivery.”
The partnership underscores MTN and Meta’s shared vision of delivering cutting-edge solutions to enhance digital communication across Africa.
Rack Centre, West Africa’s premier Tier III carrier and cloud-neutral data centre, has unveiled its state-of-the-art 12MW IT Load Data Centre, the LGS2, in Lagos, Nigeria.
This innovative facility is set to redefine the digital landscape of Nigeria, offering unparalleled infrastructure, scalability, and reliability.
Speaking at the official commissioning on April 10, 2025, Rack Centre’s Chairman, Maher Jarmakani, emphasized the company’s dedication to innovation and sustainability.
He highlighted the LGS2 facility’s role in providing uninterrupted, energy-efficient solutions for enterprises, cloud providers, and financial institutions, reinforcing Rack Centre’s pivotal role in Nigeria’s digital transformation.
“This facility exemplifies our commitment to powering the nation’s digital future,” Jarmakani stated.
Governor of Lagos State, Babajide Sanwo-Olu, represented by his Deputy Chief of Staff, Sam Egube, praised the milestone during his keynote address.
He described the LGS2 facility as a cornerstone in Lagos’s journey toward becoming a globally competitive digital hub.
Sanwo-Olu also commended Rack Centre for prioritizing sustainability and energy efficiency in the centre’s design.
Rack Centre’s CEO, Lars Johannisson, expressed gratitude to the Lagos State Government for fostering an enabling environment to support the company’s vision.
Johannisson described the facility as a symbol of Nigeria’s commitment to cutting-edge technology, sustainable digitisation, and artificial intelligence.
He noted that with the LGS2 operational, Rack Centre’s data centre capacity would increase eightfold, solidifying its leadership in sub-Saharan Africa’s digital infrastructure space.
As a key player in Nigeria’s digital ecosystem, Rack Centre continues to connect people, businesses, and ideas, driving technological progress and cementing its legacy as a trailblazer in Africa’s digital economy.
Ralph Mupita, president,MTN Group, has announced plans to reduce its shareholding in MTN Nigeria through a public offer after it returns to profitability.
The group aims to cut its stake from 76 percent to 65 percent in line with its longstanding commitment to deepen local ownership, according to ITWeb, South African tech publication.
Mupita, who disclosed the plan during an editors’ roundtable meeting this week, said “The only localisation we have as MTN Group is we have potentially a sell-down in Nigeria at some point in time, approximately 11 percent. This is something we have said long ago, that over time, we would want more Nigerians owning the company, and we are prepared to sell down to 65 percent. We are at around 76 percent,” he said.
The anticipated offer would mark MTN’s second major retail public offering in Nigeria, following its 2021 sale of 575 million MTN Nigeria shares to local investors.
That offer was oversubscribed, resulting in the allocation of 661.25 million shares, including a 15 percent greenshoe option. This reduced MTN’s stake in its Nigerian unit to 75.6 percent from 78.8 percent.
More than 126,000 investors participated in that round, including retail and institutional investors such as Nigerian pension funds, representing approximately 6.5 million contributors.
At the time in 2022, MTN Group announced plans to further reduce its stake to approximately 65 percent from 75.6 percent.
Mupita confirmed that the Group would only proceed with a new offer once MTN Nigeria resolves its negative equity position and resumes dividend payments.
Currently, MTN Nigeria’s shares are trading at N235 per share.
Despite reporting a revenue of N3.36 trillion in 2024, a 36.03 percent bump from N2.47 trillion in 2023, it posted a loss after tax of N400.44 billion, a 192.25 percent rise from N137.02 billion in 2023.,
This negative performance was driven by macroeconomic headwinds, including record inflation and a steep devaluation of the naira, which raised operating costs and wiped out investor value.
MTN Nigeria has fallen behind MTN South Africa as MTN Group’s largest revenue contributor.
However, the Group is projecting a rebound in 2025, citing key drivers such as recent tariff adjustments, operational restructuring, and improving macroeconomic indicators in Nigeria.
Speaking at the roundtable, Mupita highlighted that the Group is anticipating a V-shaped recovery in Nigeria’s service revenue. He pointed to the recent structural reforms, such as the removal of fuel subsidies, the naira stabilisation, and improved dollar availability.
“The continued normalisation of these factors, particularly naira stability, should have positive impacts on consumer spending power and our business operations,” Mupita noted in the Group’s financial statement for 2024 recently.
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