Telecom
Nigeria Nigeria Becomes a PLC, Lists on Nigerian Stock Exchange
MTN Nigeria Communications Plc (“MTN Nigeria”) has successfully listed on the premium board of the Nigerian Stock Exchange (“NSE”).
MTN Nigeria’s listing on the NSE will create a new telecoms and technology asset class for investors and provide an opportunity for a wider group of Nigerians to participate in the MTN investment story.
This listing is a major milestone that deepens Nigeria’s equity capital markets while attracting new portfolio investment over time. From this point, all MTN Nigeria shareholders will be able to freely trade their shares on the NSE.
Commenting on the development, Otunba Abimbola Ogunbanjo, National Council President, NSE, said, “We are particularly pleased that MTN Nigeria has joined the prestigious club of companies listed on our Premium Board with this landmark transaction, which will differentiate it as a professionally run telecommunications company with high standards, having met The NSE’s listing criteria.
“A Premium Board listing is a sign of commitment to strong corporate governance, excellence, professionalism, efficiency in service delivery and providing increased returns to shareholders.
“It is our expectation that the MTN Nigeria listing, which is the NSE’s 2nd largest, will encourage other telecommunication companies to list their shares on The Exchange, thereby opening the sector up to cheaper, long term capital that will boost innovation and development.”
On his part, Mr. Oscar N. Onyema, Chief Executive Officer, NSE, said, “We are delighted to welcome MTN Nigeria to the Exchange.
“Today’s listing is a promising development in the country’s telecommunications sector and we encourage other players in the sector to explore the different opportunities in the capital markets for raising long term capital.
“As a listing platform of choice, today’s listing will add to our bouquet of diverse investment offerings to the public.
“Having MTN Nigeria listed in our market is a testament of The Exchange’s commitment to building a dynamic and inclusive market and creating channels for sustainable investment.
“This listing will promote liquidity for MTN Nigeria, enhance its value and increase transparency, as our platform remains one of the best avenues for raising capital and enabling sustainable growth for national development”.
Speaking on the announcement, Pascal Dozie, Chairman, MTN Nigeria, said: “Today is a major milestone in the evolution of MTN in Nigeria and it is fitting that it takes place 18 years to the day since I made the first call on the MTN network on May 16th 2001.
“Since our initial investment in 2001, we have worked in partnership with Nigerians to deliver the largest network in Nigeria, with over 60 million people now able to access mobile communications services.
“We employ over 1,600 people and our operations create employment for more than 500,000 Nigerians.
“Our technology has empowered millions of people and businesses in rural and urban areas.
“This has driven innovation, expanded market access and enhanced local economic inclusion.
“ I am delighted that we can expand this impact further today, by enabling investors to trade our shares on the NSE.”
Speaking on the listing and MTN’s performance, Ferdi Moolman, Chief Executive Officer, said: “We’ve evolved from an ambitious start-up at the genesis of a new and emerging industry, to a business that is able to touch lives in every corner of Nigeria.
“We have established a sustainable platform for growth, from which we are able to meet the growing and dynamic needs of our customers, our communities and our country.
“This platform has been built through a sustained focus on customer-centric delivery, striving to ensure that every subscriber gets as much value for their money as possible.
“We are grateful to customers for their loyalty, and to our people, our partners and our regulators for the opportunity to continue to contribute to Nigeria’s growth story.
“We are only beginning to tap into the opportunities that connectivity enables and are fully focused on investing to connect every Nigerian, and to make social innovations like mobile electricity and high impact mobile solutions in education, healthcare and agriculture available in communities everywhere.”
Pricing of the listing
As an NSE regulatory requirement, MTN Nigeria is required to publish a commencement listing price.
Outstanding legal matters have created a high degree of uncertainty over MTN Nigeria’s prospects and valuation, which makes it difficult to determine a fair price for MTN Nigeria at present.
The associated risks and potential returns cannot be fairly assessed and priced by the market.
As a result and in the best interests of all shareholders, both current and future, the commencement listing price was set at N90 per ordinary share, which was determined with reference to private share sale transactions by MTN Nigeria shareholders over the past 180 business days.
United States (US) House of Representatives has banned WhatsApp from all official devices as a result of data privacy and security concerns.
Harry Coker, acting national cyber security (ONCD) Director confirmed this via a statement issued on Monday, June 23 stating that WhatsApp’s high risk classification is attributed to the messaging app’s ambiguous data protection policies, inadequate encryption for stored data, and other potential security vulnerabilities.
He stated that staff have since been advised to utilize more secure communication platforms, with recommended alternatives including Microsoft Teams, Apple’s iMessage and FaceTime, Signal, and Amazon’s Wickr.
However, Nick Clegg, president of Global Affairs for Meta, WhatsApp’s parent company, has strongly opposed the ban.
He said, “We disagree with this decision in the strongest possible terms, whatsApp provides a higher level of security than the other approved apps.”
This ban on WhatsApp is not an isolated incident, it follows previous restrictions on other applications, such as TikTok, which was removed from government devices in 2022.
The decision also comes just months after WhatsApp itself confirmed that Israeli spyware firm Paragon Solutions had targeted some of its users, including journalists and civil society figures.
MTN Foundation has received accolades from UN Women, the United Nations entity dedicated to gender equality and the empowerment of women.
The recognition, presented during a profile courtesy visit by UN Women representatives to MTN Nigeria’s Head Office in Ikoyi, Lagos, acknowledged the Organisation’s profound contributions to advancing women’s empowerment across the nation.
The UN Women delegation, led by Beatrice Eyong, UN Women Country Representative to Nigeria, commended MTN and its Foundation for their unwavering commitment to fostering an inclusive society where women thrive.
During the presentation, Beatrice Eyong, UN Women Country Representative to Nigeria, expressed profound admiration for MTN’s efforts. “I want to congratulate MTN for all that they have been doing,” Eyong stated, her voice resonating with appreciation. “And I want to congratulate MTN Foundation specifically, because they are leaving things better than they met them especially with their Mother and Child Initiatives.” Her remarks highlighted MTN’s focused impact, suggesting a significant improvement in the landscape of women’s empowerment due to the company’s interventions.
Odunayo Sanya, Executive Director of the MTN Foundation, received the award and further elaborated on the company’s broader commitment to societal upliftment through women’s empowerment. ” Our Y’ellopreneur program targeted at Female entrepreneurs is about creating access for our Female Entrepreneurs – access to skills, capital and markets. Our commitment is to contribute to the success of women – led businesses in Nigeria.
This focus on economic empowerment through skills development directly benefits women seeking to improve their livelihoods. This recognition comes as MTN Nigeria continues to champion various programmes aimed at uplifting women, from promoting gender diversity within its corporate structure to supporting women-led businesses and initiatives.
The company’s alignment with global best practices, including its recent signing on to the United Nations Women Empowerment Principles (WEPs), further solidifies its position as a leader in corporate social responsibility and gender equality advocacy.
The award serves as a testament to MTN Nigeria’s strategic and impactful investments in creating a more equitable future for Nigerian women.
Google today announced the selection of 15 promising tech startups for its Google for Startups Accelerator: Africa Class 9 program. These innovative startups, hailing from Ghana, Ethiopia, Kenya, Nigeria, Rwanda, Senegal, and South Africa, are leveraging artificial intelligence (AI) to address significant challenges across diverse sectors, including fintech, agritech, healthtech, and professional services.
In an era where startups are at the forefront of solving critical challenges across Africa, these innovators often face significant hurdles to scale their operations, particularly in securing essential support, mentorship, and funding. Programs like the Google for Startups Accelerator: Africa play a crucial role in providing these opportunities, enabling tech founders and innovators to amplify their impact. By bringing together Google’s extensive resources, including cutting-edge AI technologies and a global network of experts, the program aims to equip these startups to not only thrive but also lead in addressing both local and global challenges in this AI era.
The selection follows a highly competitive application process that began in April 2025 , drawing nearly 1,500 applications from across the continent. This cohort underscores Google’s deep commitment to fostering Africa’s vibrant tech ecosystem and supporting startups in their growth journey.
“African startups are at the forefront of solving critical challenges across the continent, and their work with AI is truly transformative,” said Folarin Aiyegbusi, Head of Startup Ecosystem, Africa at Google. “This program reflects our belief that AI can be transformative when shaped by those who understand the context deeply. We are incredibly excited to support these founders who are building for impact and helping to shape an inclusive AI ecosystem across Africa.”
Over the next three months, the selected startups will participate in a hybrid accelerator program (June 23rd to August 22nd, 2025). Participants will receive dedicated technical mentorship from experienced Google engineers and industry experts , up to $350,000 in Google Cloud credits , and strategic support in AI implementation, product leadership, and business growth. They will also gain access to a global network of investors, partners, and collaborators, amplifying their reach and impact.
Since its inception in 2018, the Google for Startups Accelerator Africa program has supported 153 startups from 17 African countries. Collectively, these alumni have raised over $300 million in funding and created more than 3,500 jobs. Google has directly contributed $5 million through a combination of equity-free funding and product credits to support these founders.
The Google for Startups Accelerator: Africa Class 9 cohort includes:
AFRIKABAL (Rwanda): A blockchain and AI-powered platform helping farmers, buyers, and logistics firms trade crops securely and transparently.
Apexloads (Kenya): A logistics SaaS platform helping African freight brokers, forwarders, and transporters move cargo faster with verified partners.
E-doc Online (Nigeria): Simplifies compliance and credit checks by analyzing real-time banking data, enabling faster onboarding and smarter lending decisions.
GoNomad (Nigeria): Enables businesses to start and run global entities, and solopreneurs to professionally invoice and get paid globally like a local.
Midddleman (Nigeria): An intelligent sourcing and payment platform helping African businesses import and pay for goods from China faster, safer, and cheaper.
Myltura (Nigeria): An AI-powered digital health platform enabling remote care, test access, and seamless health data management in Africa.
Pastel (Nigeria): Offers Enterprise AI solutions, inc. AI based fraud detection and anti-money laundering solutions to financial institutions in Africa.
Rapid Human AI (South Africa): An end-to-end AI design-thinking platform that turns ideas into code in days, cutting development time by 80%.
Regulon (Ghana): An AI-powered compliance and onboarding platform designed to simplify regulatory processes for businesses across Africa and the EMEA region.
Scandium (Nigeria): An AI Quality Assurance suite that helps teams ship bug-free software faster with end-to-end test automation and test ops tooling.
Shamba Records (Kenya): An AI-powered platform that empowers 50,000+ African farmers with smart credit, market access, and climate-resilient, data-driven agriculture.
Smartel Agri Tech (Rwanda): Helps smallholder farmers in the Global South get ahead of crop pests and diseases early using AI-powered, solar-driven devices and SMS alerts.
TOLBI (Senegal): Leverages AI and satellite imagery to empower sustainable agriculture across Africa, providing precise crop yield forecasts.
YeneHealth (Ethiopia): An AI-driven digital health web, and mobile app streamlining access to affordable, reliable, quality medications & health care services.
Zerone Analytiqs (Ghana): A transformative two-pronged solution to the data scarcity in Africa, We are revolutionizing how data is sourced, analyzed, and utilized for decisions.
For further information and updates, visit the Google Africa Blog or follow @GoogleAfrica on social media.
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