Telecom
MTN Expects 140 Per Cent Jump in Interim Earnings
MTN, mobile communications company at the weekend said that it expected to report an increase in earnings per share of at least 345 cents or 140 percent for the half year ended June.
In a trading update, MTN said this represented earnings per share of more than 592 cents for the six months in question, compared with 247 cents for the corresponding period last year.
Johannesburg Stock Exchange requirements specify that listed companies must publish a trading statement as soon as they are fairly certain that their upcoming financial results will differ by at least 20 percent from the results for the previous corresponding period.
MTN said it expected its interim headline earnings per share (HEPS) to be at least 195 cents or 100 percent higher at more than 390 cents, compared with 195 cents in 2019.
“EPS (earnings per share) includes the benefit from gains amounting to 341 cents on the disposal of the ATC Uganda and ATC Ghana tower joint ventures as announced in March,” it said.
“HEPS benefited from non-operational items for the six months ended 30 June … totalling approximately 50 cents per share … of which more than half related to foreign exchange gains.”
The South Africa company, which also operates in several other African, European and Asian countries, said it would provide a further update on the expected earnings growth ranges once it had reasonable certainty.
MTN is due to publish its group results around August 6.
In May, the company reported continued commercial momentum in the first quarter ended March, with service revenue up 11.1 percent in constant currency.
It however said the effects of the Covid-19 pandemic on the global economy had brought about unprecedented uncertainty, volatility and challenges which were impacting the company’s markets at both the socio-economic and macro-economic levels.
Telecom
Galaxy Backbone Deploys Fibre Optic Network in Lagos, Ibadan and Ilorin
Galaxy Backbone (GBB), the information technology and shared services provider of the Federal Government of Nigeria, has announced the successful expansion of its state-of-the-art fibre optic network to Lagos, Ibadan, the capital of Oyo State in southwestern Nigeria, and Ilorin, capital of Kwara State in the north-central region.
What is described as a remarkable milestone is part of Phase II of the country’s National Information and Communication Technology Infrastructure Backbone (NICTIB) project.
With a robust cross-country optical fibre backbone now extending over 5,000 kilometres and across 27 state capitals, GBB says it has solidified its role as the digital backbone of Nigeria. This development seamlessly integrates the nation’s six geopolitical zones.
The newly completed Abuja-to-Lagos route, traversing key cities such as Minna, Bida, Mokwa, ilorin, Ogbomoso, Oyo, Ibadan and Lagos, is a strategic enhancement designed to strengthen network reliability. By establishing a closed network ring linking Lagos – the nation’s economic hub – to Abuja, the capital city, GBB says it ensures service redundancy and minimises potential downtime.
Professor Ibrahim A Adeyanju, managing director/CEO of Galaxy Backbone, says: “The expansion of our fibre optic network to Lagos, Ibadan and Ilorin is a significant step forward in our mission to bridge the digital divide and position Nigeria as a leader in the global digital economy. This advanced infrastructure empowers us to deliver innovative, customer-centric solutions that serve the needs of both the public and private sectors.”
He adds: “This expansion not only supports the government’s digital economy agenda but also sets the stage for meaningful collaboration with private sector organisations seeking to leverage our infrastructure.”
Telecom
NBS Says 25m Phones Stolen in Nigeria in 12 Months
National Bureau of Statistics (NBS) has reported that over 25 million phone thefts between March 2023 and April 2024, according to its Crime Experience and Security Perception Survey 2024.
The Crime Experience and Security Perception Survey 2024, indicated that an estimated 17,965,741 people had their phones stolen during the reference period
Phone theft, which is a common individual crime in the country, shows that seven out of every 10 stolen phones happened at home or public places, with a mere 11.7% of people who reported to the police expressing satisfaction with their response.
Less than 10% of the victims of phone theft reported the case to the police, while over 90% failed to report to the police for various reasons.
“At the individual level, 21.4 per cent of Nigerians reported being victims of crime, and the most common crime was phone theft (13.8%),” the report read in part.
Telecom
Airtel Once Again Wins Partnership of the Year Award at SERAS 2024
Airtel Nigeria has once again been recognized for its commitment to sustainable development, carting away the Partnership of the Year award at the 18th edition of the Sustainability, Enterprise, and Responsibility Awards (SERAS) held at the Oriental Hotel, Victoria Island, Lagos, on Saturday, 14th December, 2024.
The award celebrates Airtel’s continued success with its Re-imagine Education Initiative, a ground-breaking collaboration with the United Nations Children’s Fund (UNICEF) aimed at transforming education in Nigeria through technology.
Airtel’s consistent focus on creating social value through strategic partnerships reflects its position as a key enabler of progress in the Nigerian education sector.
Commenting on the award, Femi Adeniran, Director, Corporate Communications and CSR, highlighted the significance of the winning the Partnership of the Year award for the second time with the Airtel collaboration with UNICEF to provide digital access to quality educational resources for more than 1,200 schools in Nigeria.
“Winning this award for the second consecutive year is a reflection of our enduring belief in the transformative power of technology in education. We are deeply committed to making a meaningful difference in the lives of Nigerians, and this recognition fuels our resolve to do even more,” he said.
The SERAS Awards, widely regarded as Africa’s most prestigious platform for celebrating sustainability and corporate social responsibility, brought together leaders from various industries to honour organizations driving impactful change.
Airtel Nigeria remains steadfast in its mission to foster inclusive growth, empower communities, and champion a sustainable future for its stakeholders and the environment.
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