Connect with us

Telecom

MTN Nigeria Plans N52Bn Recapitalisation

Published

on

Kindly share this post

MTN Nigeria plans to issue two series of commercial papers worth N52.895bn, according to a corporate notice filed with the Nigerian Exchange Limited on Thursday.

MTN Nigeria Plans N52Bn Recapitalisation

In the notice, the company said that Series 8 & 9 Commercial Paper notes would be under its N250bn Commercial Paper Issuance Programme.

The notice signed by Uto Ukpanah, company secretary, said, “The issuance is part of the company’s strategy to diversify its financing options with the funds being deployed towards short-term working capital and funding requirements,” with a promise to provide more details to the market later.

Recently, MTN Nigeria raised N125bn through the issuance of commercial papers series 6 & 7.

Although, the company said it sought to raise N100bn, the offer recorded 146 per cent subscription with N125bn raised across both series.

The series included a 181-day commercial paper at a yield of 13 per cent and a 265-day CP at a yield of 13.50 per cent with an issue date of August 23, 2023.

In its recently released financial results for the first nine months of 2023, MTN Nigeria said its N250bn commercial paper programme was issued in March and August 2023 and that N52bn was redeemed in the month of September 2023 with the remaining tranches maturing in November 2023 (N72bn) at 12.5 per cent, February 2024 (N52bn) at 13 per cent and May 2024 (N72bn) at 13.5 per cent.

In the period ended September 2023, MTN reported a 21.8 per cent growth in its revenue from N1.45tn in September 2022 to N1.77tn at the end of the same period in 2023.

Its net finance cost rose by 174.4 per cent to N375.95bn, and profit before tax decreased by 42 per cent to N232.46bn.

Also, the telco’s earnings per share decreased by 45.2 per cent to N7.06 kobo while profit after tax declined by 45.2 per cent to N147.36bn.

MTN’s mobile subscriber base reached a new high of 77.6 million users as it added approximately 2 million users in the nine months. 3.6 million active data users were added in the nine months as its total data traffic rose by 46.3 per cent, and data usage (GB per user) grew by 29.1 per cent.

On the side of its fintech business, MTN Nigeria said it was recovering from the slowdown in H1 as active wallets rose by 1.6 million to 3.6 million, with over 293,000 MoMo agents and 197,000 merchants.

 

 


Kindly share this post

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.

Telecom

MTN Nigeria Expands Digital Offerings with Audiomack+ Music Subscription

Published

on

Kindly share this post

MTN Nigeria, a leading ICT company, has partnered with Audiomack, a renowned music streaming platform, to introduce the Audiomack+ subscription program.

This strategic collaboration provides MTN subscribers with seamless access to premium Audiomack content, uninterrupted streaming, offline downloads, and exclusive features through convenient mobile payment options.

Audiomack+ offers three flexible subscription plans, enabling subscribers to discover emerging artists, underground music, and community-driven playlists. Music lovers can enjoy, Month Pass (N900/month): 30-day free trial + uninterrupted streaming, Week Pass (N400/week): Affordable weekly subscription and Day Pass (N100/day): Daily access to premium content.

“This partnership with Audiomack reinforces our commitment to delivering value-added services to our customers,” said A’isha Mumuni, Chief Digital Officer of MTN Nigeria.

“We’re excited to offer our subscribers an easy and affordable way to access premium music content, empowering them to explore new music and support their favorite artists.”

David Ponte, Audiomack Co-Founder and CMO, added, “Our partnership with MTN Nigeria brings us closer to making music accessible to everyone.

“With Audiomack+, we’re proud to offer affordable premium streaming options, providing users in Nigeria with the best music experience possible.”

To subscribe to the Audiomack+ monthly plan, text APM to 3134 or visit Audiomack+ Month Pass. Alternatively, customers can text APW to 3134 or text APD to 3134 for weekly or daily subscriptions.

Through its strategic partnership with music streaming platforms, MTN Nigeria reinforces its commitment to providing enhanced and innovative digital experiences to customers.


Kindly share this post
Continue Reading

Telecom

FG Hopeful Thuraya’s Relaunch in Nigeria Will Boost Fight against Insecurity, Others

Published

on

Kindly share this post

Thuraya, a leading provider of satellite communication solutions, has officially relaunched its services in Nigeria, a move the federal government hope will help in the fight against insecurity, illegal mining and oil thefts in the country.

FG Hopeful Thuraya’s Relaunch in Nigeria Will Boost Fight against Insecurity, Others

Tsat Telecommunication, Thuraya’s local service partner, spearheaded the relaunch by implementing comprehensive strategies to enhance service delivery across Nigeria.

As part of this effort, the company partnered with system integrators Cypod Solutions and Niflink, who played critical roles in ensuring the successful integration of Thuraya’s advanced satellite services into the local market.

With this relaunch, Thuraya aims to provide more reliable and accessible communication options for businesses and individuals across Nigeria, addressing the growing demand for robust satellite solutions in remote and underserved areas.

This development is expected to have a significant impact on sectors such as oil and gas, agriculture, and disaster management, where seamless communication is vital for operational efficiency.

At the event Dr Bosun Tijani, minister of Communication, Innovations and Digital Economy, expressed hope that the launch of Thuraya communication products and services will help in the fight against insecurity, illegal mining and oil thefts in the country.

The minister who was represented by Engr Farouk Yusuf, permanent secretary of the ministry, said, beyond helping in expanding the country’s broadband penetration to hinterland and hard-to-reach areas, the formal entry of Thuraya satellite communications services will help security forces in combating criminalities bedevilling the country.

“Of course, Thuraya’s solutions will not only enhance broadband access but also provide critical communication tools such as can be used in security, agriculture and disaster management, as we mentioned in previous presentations.

“We expect Thuraya’s satellite products and services to play a critical role in addressing Nigeria’s ongoing security challenges through a deliberate action.

He, however, said that while the country is thrilled with the coming of Thuraya, Nigeria expects the firm to take deliberate actions and efforts in ensuring that the partnership brings value to the country.

Earlier, Alhaji Abba Sani Abdullahi, chairman and chief executive officer of TSAT, expressed delight over the partnership that saw the re-entry of Thuraya onto the Nigerian market.

Also speaking, Faisal Mohammed Ahmed, vice president, Tech and Sale of Thuraya,  said the company has range of telecommunications and satellite assets that will boost the country’s digital landscape and also help in tackling security problems.


Kindly share this post
Continue Reading

Telecom

Toyota Prado, Kia Cars, Generators, Other Items on Offer as Glo Festival of Joy Begins

Published

on

Kindly share this post

Customers of digital solutions provider, Globacom, are in for an exciting Yuletide season as the company is set to give out exquisite cars and other prizes in a new season of its customer-loyalty reward promo, Festival of Joy.

Globacom, in a press statement issued in Lagos, noted that it has chosen to put smiles on customers’ faces by   spending huge sums on prizes at a time other companies are cutting costs owing to the prevailing economic situation.

The mouth-watering prizes   include Toyota Prado, 5 Kia Picanto cars, 15 tricycles, 150 power generating sets, 200 sewing machines and 300 grinding machines as the promo kicks off   on October 1 and will run until January 31, 2025.

Globacom explained that Festival of Joy promotion was launched in accordance with its commitment to empowering Glo subscribers as the festive season approaches. The prizes, it explained, were carefully selected to appeal to all categories of customers including high net-worth individuals (HNIs), professionals, business men and women, workers and students.

“Nigerians in all parts of the country have a chance to win any of the amazing items on offer as prize-presentation events will be held in several cities across the country including Lagos, Abuja, Ibadan, Port Harcourt, Enugu, Benin, and Warri,” Globacom explained.

Furthermore, new and existing customers on both the prepaid and the postpaid platforms are eligible to participate in the promo, the company added, saying “All a customer is required to do is to opt into the promo by dialing *611#, select the prize he or she is aiming for and recharge up to the required amount for the particular item to qualify for the draw.”

To become a proud winner of a Prado jeep, a customer is required to recharge up to N100,000 cumulatively during the promo period to qualify for the draw, while for the Kia Picanto, a customer needs to make a N50,000 cumulative recharge during the period.

Any customer who wishes to win a tricycle should recharge up to N10,000 cumulatively in a month, just as N5,000 total recharge in a month will qualify the customer to win a generator; N2,500 in a month for sewing machine and N500 in a day to qualify   for the draw for grinding machines.

Said Globacom, “All recharge types – physical and electronic – count towards the qualification. The higher the recharge amount, the higher the chances of winning.”

 


Kindly share this post
Continue Reading

Trending