Telecom
MTN Investment in Nigeria Hits N2trn
MTN Nigeria Communications Plc has invested more than N2 trillion in its business operations over the past 18 years.
The market value of MTN Nigeria closed at the weekend at N2.585 trillion.
MTN Nigeria, in a regulatory filing at the Nigerian Stock Exchange (NSE) at the weekend, indicated that it has invested more than N2 trillion since incorporation in 2001.
MTN Nigeria reiterated its commitments to the Nigerian economy, noting that it had paid more than N1.7 trillion in taxes, levies and other regulatory fees in its nearly two decades of existence.
The market value of MTN Nigeria dropped by 1.59 per cent to close weekend at N2.585 trillion.
The share price decline came on the heels of what the telecommunications company described as “technical disagreement” with the Federal Inland Revenue Service (FIRS) over the tax treatment of the N330 billion fine imposed on the company for failing to deactivate more than five million unregistered SIM cards. MTN Nigeria had completed the payment of the N330 billion fine in May 2019 but the tax treatment remains a subject of judicial review at the Tax Tribunal.
MTN Nigeria believes the N330b fine should be treated as part of operating cost and not subjected to any other tax but FIRS holds that the fine should be subjected to tax.
MTN Nigeria has remained Nigeria’s second largest quoted company since listing on the NSE in May 2019. MTN Nigeria last month earmarked N60 billion as interim cash dividend to shareholders as it released its first earnings report as a quoted company.
The board of the telco indicated shareholders will receive a dividend per share of N2.95 for the first half ended June 30, 2019. This however represented a drop of 17.83 per cent from N3.59 per share paid for the first half of 2018.
Key extracts of the six-month report for the period ended June 30, 2019 showed that MTN Nigeria’s profit before tax rose by 30.9 per cent to N141.8 billion in first half 2019 as against N108.35 billion recorded in comparable period of 2018. Profit after tax grew by 34.8 per cent from N73.4 billion to N98.93 billion.
Total turnover grew by 12.12 per cent to N566.95 billion as against N505.67 billion. Operating profit had risen by 39.49 per cent from N136.50 billion to N190.4 billion. Earnings per share rose by 34.8 per cent to N4.86 compared with N3.61.
The report showed that the telco’s mobile subscribers increased by 3.3 million within the first six months of this year to 61.5 million while service revenue increased by 12.2 per cent. Voice revenue increased by 11.4 per cent, data revenue rose by 31.7 per cent while fintech revenue increased by 21.2 per cent.
However, digital revenue dropped by 64.5 per cent. The company’s earnings before interest, tax depreciation and amortization (EBITDA) rose by 40 per cent to N304.9 billion while EBITDA margin improved by 10.7 percentage points to 53.8 per cent.
Nigeria is MTN’s largest market, accounting for one-third of the South African Group’s business. The telco last week announced that the Central Bank of Nigeria (CBN) has granted its subsidiary, Yello Digital Financial Services Limited (YDFS), full Super Agent Licence. The licence will enable MTN Nigeria to convert its existing airtime agents and recruit other small businesses to distribute financial services.
The telco stated that the Super Agent Licence will enable it to pursue its fintech strategy, as part of efforts to deepen financial inclusion in Nigeria.
Ferdi Moolman, chief executive officer, MTN Nigeria Communications Plc, described the first half performance as a solid performance as the company continued to invest to improve network quality and expand 4G coverage.
He noted that recent work on revamping data prices and accelerating 4G network has put the company in a strong competitive position to offer more value to customers and provide new impetus for overall corporate growth.
He said the listing of the company on the Nigerian Stock Exchange (NSE) in May 2019 demonstrated the company’s commitment to the Nigerian market while providing opportunity to domestic investors to participate in and benefit from the company’s growth.
“Our overriding priority for the rest of the year is to focus on our BRIGHT strategy to build a sustainable business and create value for customers. We will continue to progress in the second half of the year making improvements to our network experience, subscriber growth and enhance operational efficiency. We expect lower data pricing and our acceleration of the 4G network expansion to bolster the acquisition of customers and data traffic volumes in the second half,” Moolman said.
Telecom
SAIL and MTN Foundation Equip 4000 Teachers with Digital Learning Strategies
SAIL Teachers Fellowship Program recently celebrated a milestone graduation, equipping 4000 teachers with innovative teaching techniques to transform Nigerian classrooms.
The program, organised through a collaboration between the SAIL Empowerment Foundation and MTN Foundation, represents a groundbreaking effort to transition educators from traditional methods to inquiry-based and digital learning strategies.
This year’s fellowship, a hybrid initiative engaging over 4,000 teachers from a pool of 15,000 applicants, culminated in intensive training sessions and certifications for 400 outstanding participants. These educators were introduced to tools like Canva, and advanced classroom management strategies designed to address the unique challenges of Nigerian classrooms.
During the graduation event in Lagos, MTN Foundation’s Executive Director, Odunayo Sanya, emphasised the Foundation’s 20-year legacy of impactful initiatives, with investments totalling over ₦30 billion across health, education, and empowerment sectors. Sanya underscored the Fellowship’s transformative role in shaping the nation’s future through teacher development.
Sanya challenged the teachers to become change-makers. “The knowledge you have gained is not for you alone. You are expected to empower other teachers and uplift your students, ensuring the impact of this training spreads beyond you.”
Senator Tokunbo Abiru, co-founder of the SAIL Empowerment Foundation, echoed this sentiment, highlighting the program’s vision to empower teachers as change agents within their communities.
Abiru called for continued partnerships to expand the program’s reach and ensure its sustainability. “The Teachers’ Fellowship has grown to about 6,700 teachers thanks to the incredible support from MTN Foundation,” he said.
The event also featured the unveiling of the MTN Foundation’s legacy publication, Yellow Impact: 20 Years Stronger, a testament to two decades of impactful interventions. As both organizations reiterated their commitment to the program, they underscored the importance of collective effort in shaping the future of education in Nigeria.
With plans to expand the program in the coming year, the MTN Foundation and SAIL Empowerment Foundation continue to inspire hope and transformation in the education sector.
Telecom
AfriTECH 4.0: QNET’s Biram Fall Advocates for Financial Inclusion in Africa
Mr. Biram Fall, the Regional General Manager, QNET Sub-Saharan Africa, has said that with over 350 million unbanked adults, there is a significant potential of financial inclusion and digital solutions for Africa, and a vast opportunity to expand access to financial security, event through electronic commerce (eCommerce).
Speaking as a lead presenter at the recent Africa Tech Alliance Forum (AfriTECH 4.0) held in Lagos, Fall stated that financial inclusion transforms lives by providing essential financial tools like savings accounts, credit, and insurance, which foster economic independence.
He referenced the International Monetary Fund (IMF) which highlights the role of financial services in strengthening economic resilience and reducing inequality, making them crucial for African socio-economic progress.
Speaking on the theme, “Harnessing Fintech Solutions for Financial Inclusion & eCommerce Growth,” Fall highlighted Africa’s opportunity to empower the 350 million unbanked adults by providing access to essential financial services.
“The demand for financial inclusion aligns with a projected $75 billion e-commerce market in Africa by 2025, driven by rising internet access and smartphone adoption.
“However, limited banking infrastructure and high cash dependency hinder digital engagement,” he said.
Fall who made reference to the United Nations Conference on Trade and Development (UNCTAD), noted that digital payments can unlock significant revenue for small businesses and expand e-commerce by making digital platforms more accessible and trusted.
“Digital payment solutions like mobile wallets simplify transactions and build trust in digital platforms.
“The African Development Bank recognizes that increased accessibility of financial products boosts consumer confidence in digital payments and enhances participation in e-commerce,” Fall said.
He disclosed that QNET’s initiatives, such as its “Fit Green” financial literacy programme, have trained over 1,500 young Nigerians, promoting financial self-sufficiency and entrepreneurship through an e-commerce-driven direct-selling model active in over 100 countries.
“Our e-commerce driven direct-selling model provides income-generating opportunities in over 100 countries, promoting entrepreneurship and self-sufficiency in low-income regions. True progress requires collaboration.
The QNET regional manager emphasized the need for cross-sector partnerships to bridge Africa’s infrastructure gaps, expand digital financial services, and build an inclusive financial landscape.
QNET’s mission, according to Fall, is to use technology and partnerships to make financial inclusion and e-commerce key pillars of progress across Africa, empowering individuals and fostering economic growth for underserved populations.
Telecom
Trendships: How Instagram is Redefining Social Communication
Instagram has launched a regional campaign to celebrate a form of connection emerging through Direct Messages (DMs).
Recognizing how the act of sharing relatable memes and light-hearted content with friends, family and acquaintances is evolving into a unique vehicle of social communication and bonding across all ages, Instagram is coining a new term, Trendships.
A combination of “friendships” and “trends”, Trendships captures how Instagram users leverage playful or meaningful content to stay closer to distant loved ones, express complex emotions, and even navigate cultural trends.
The phenomenon gained traction with the launch of Instagram Reels and has rapidly become a bridge for individuals to communicate, engage and stay in touch.
“Trendships is not about sharing popular or viral content; it is about creating community over shared experiences and interests,” said Nada Enan – Head of Communications, Middle East & North Africa, Meta.
“People are exchanging content that resonates, from humorous memes to motivational Reels, redefining how people nurture intimate connections, exchange values and, in many cases, let loved ones know they are thinking about them with just a few taps. It underscores how social platforms are increasingly pivotal to building community in our daily lives and evolving how we communicate in the digital era.”
Trendships anchor on the simple act of “sharing” – through Reels, GIFs, videos, or memes – via DM. According to the latest stats from Meta, people reshare Reels over 3.5 billion times every day reinforcing how prolifically the platform is used to communicate and engage.
Embracing the new term, Instagram has partnered with popular comedy creator, Maraji and media platforms like KraksTv, Zikoko in Nigeria to spread the word about Trendships with their creativity.
The #WhatsYourTrendship campaign was revealed with fun, lighthearted content from Maraji, Zikoko and KraksTv showcasing their favourite trendships on Instagram.
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