Telecom
MTN Having Difficulties Repatriating over N106Bn Profit from Nigeria- CEO
MTN group has said that it is yet to repatriate over N106bn about R4.2bn (south African currency) profits made from Nigeria back to South Africa due to the challenge of accessing foreign currency.
Ralph Mupita, group president and chief executive officer, who disclosed this recently while announcing strong results across its twenty-one African markets, said that as at December 31, 2020 only about 707.1million (R286 million) out of the profits made from Nigeria has been successfully sent back to South Africa.
MTN group posted an impressive double-digit growth in earnings in 2020, doing especially well on its medium-term targets.
The group financial statements shows about 29 million new subscribers were added during the year under review, bringing MTN’s group subscriber base to 280 million in Africa.
In 2020, MTN also revealed new 19 million data users were added and nearly 12 million Mobile Money users, to reach totals of over 114 million and 46 million respectively.
The company said these numbers helped grow its service revenue by 11.9 percent to R170-billion and earnings before interest, taxes, depreciation and amortisation (Ebitda) increasing by 13.4 percent.
MTN also reported a 52 percent increase in adjusted headline earnings a share, a four-percentage point increase in return on equity to 17 percent and a more than doubling in operating cashflow to R28.3 billion.
Basic earnings a share increased by 87 percent, good operational performance and an improved contribution of the share of profits from associates and joint ventures.
MTN Group’s capital expenditure was R28.6bn and its net debt was reduced by R12bn to R43bn.
However, MTN announced suspension on its full year dividend for 2020.
The board said it would communicate a revised medium-term dividend policy after the announcement of its 2021 financial year results in March 2022.
“On assessment of the progress of cash upstreaming from Nigeria, ARP delivery and COVID-19 impacts, the board will consider returning further cash to shareholders in the form of special dividends or share repurchases after the release of FY2021 result,” the statement noted.
Telecom
Telcos 267 Different Tariff Plans Confusing for Subscribers– NCC
MTN, Airtel, Glo and 9Mobile, four major Nigerian telecommunications companies, have a combined 267 tariff plans, according to Nigerian Communications Commission (NCC).
The proliferation of tariff plans by mobile networks has been giving subscribers headaches, keeping them in dilemma on which to choose to get value for their money.
According to the NCC, the revelation of various tariff plans came through its research on the complaints of subscribers concerning data depletion.
Explaining the outcome of the research at a 2-Day Upskilling On Trends In Telecom Industry For Media Stakeholders held in Lagos, Dr. Ikechukwu Adinde, director, Public Affairs, Nigerian Communication Commission, said majority of the telecoms subscribers did not know the actual tariffs charged by their network providers.
Analysing the various tariff plans by the telcos, Adinde said MTN as the largest operator, currently had 159 tariff plans, with 14 for voice and 145 for data. Airtel has 27 for voice and 41 for data services.
Globacom has six for voice and 32 for data, while 9mobile has seven different tariff plans for voice and 97 for data. According to him, the situation has made it difficult for many subscribers to actually select the beat tariff plan for them since there is proliferation of such plans on the networks of their providers, noting that most times, the difference between two tariffs is not discernable by the subscribers.
He said this had been affecting the quality of experience (QoE) advocating by the Agency, and so creating uncertainty for the consumers.
Meanwhile, he said the Commission was going to streamline the various tariff plans to just seven for better understanding of the consumers and to enhance the quality of experience.
“The whole idea is to ensure that consumers have a good experience, because too many tariff plans affect the quality of service – all benefits or allowances, voice, SMS and data must be seated in clear, useful and user friendly formats. “We don’t get this kind of transparency many of us are passionate about.
Telecom
First Set of Winners Emerge in Glo Festival of Joy Promo in Warri
Digital solutions company, Globacom, on Thursday, in Warri, Delta State, held the first draw of its ongoing consumer promo, Festival of Joy. The draw was conducted at Gloworld, Delta Mall, and was attended by Glo subscribers, the media and representative of National Lottery Regulatory Commission, Mr. Anwyuli Efejukwu.
Globacom said the lucky winners including, “the winner of a brand new Toyota Prado and winners of tricycles, sewing machines, generators and grinding machines will receive their prizes on November 21, 2024 at the same Gloworld”.
To participate in the promo, Glo advised new and existing subscribers to dial *611# and recharge (voice and data) during the promo period. It added that new subscribers can join by purchasing a new SIM, registering it, and dialing *611#.
“New and existing customers are required to recharge up to N100,000 cumulatively during the promo period to qualify for the draw for the Prado Jeep, N50, 000 cumulative recharge for Kia Picanto, N10, 000 in a month for tricycle and N5, 000 total recharge in a month to win a generator.
For the sewing machine, a total recharge of N2, 500 in a month is required, while for the grinding machine, a recharge of N500 in a day will be eligible for the draw”. The company said.
Telecom
MTN Foundation Enhances Education with Renovation of 29 Laboratories in Nigeria
MTN Foundation recently unveiled 29 fully renovated science and ICT laboratories in public secondary schools located in the Northeast and Southeast areas of Nigeria, including Kano, Gombe, Enugu, and Anambra.
This is part of MTNF’s Science and Technology Laboratory Project (STLP). The nationwide initiative has enhanced science education by equipping public school laboratories with state-of-the-art facilities and vital resources.
The STLP initiative reflects the Foundation’s commitment to youth empowerment and educational advancement in Nigeria, providing students with practical learning experiences in core science subjects such as Physics, Chemistry, Biology, and Agriculture.
The third phase of this project alone has seen the complete transformation of laboratories in six schools, with structural renovations, alternative power installations, digital learning tools, and specialised training for teachers and lab attendants.
The Foundation’s investment in education has paved the way for transformative programs like the MTN Scholarship Scheme, which supports Nigerian students in their academic pursuits, and digital skills training programs aimed at fostering technological competence and readiness.
Now, with its Science and Technology Laboratory Project, MTNF is extending these commitments to the very heart of the Nigerian classroom, transforming learning environments into spaces where students can explore, innovate, and excel.
MTNF Executive Director, Odunayo Sanya expressed the Foundation’s resolve, stating, “We are proud to support young Nigerians with the resources and environments they need to excel in science and technology.
“Our commitment is rooted in ensuring access to quality education for every Nigerian student.”
This dedication has fuelled MTNF’s efforts to establish impactful projects nationwide, positioning the Foundation as a pivotal player in advancing Nigeria’s socio-economic development and shaping a brighter future for its youth.
As the Foundation celebrates its 20th anniversary, its impact extends beyond laboratory renovations. Over the past two decades, the Foundation has invested N29.4 billion in diverse programs that improve the lives of millions across Nigeria, with a focus on youth empowerment, education, healthcare, and community development.
Guided by its new theme “Inspiring Impact Where it Matters,” the Foundation is committed to addressing critical national priorities, ensuring that underserved communities will continue to benefit from its initiatives.
- E-Financial2 days ago
UBA, Mastercard Launch Special Debit Card for 75th Anniversary
- Broadcasting3 days ago
Multichoice Writes Off N31.6Bn with liquidated Heritage Bank
- E-Financial2 days ago
PalmPay Set to Champion International Anti-Fraud Awareness Week with Community Walk
- E-Financial1 day ago
SEC Seeks N20m Fine, 10-Year Jail Term for Ponzi Scheme Operators
- Telecom2 days ago
First Set of Winners Emerge in Glo Festival of Joy Promo in Warri
- Telecom2 days ago
MTN Foundation Enhances Education with Renovation of 29 Laboratories in Nigeria
- E-Business1 day ago
QNET’s Amezcua Workshop in Lagos: A Glimpse into Wellness & Innovation
- E-Financial1 day ago
CBN to Sanction Banks Linked to Cash Hawkers