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MTN Nigeria Gains N184Bn in Listing Rally

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MTN Nigeria Communications Plc rallied N184 billion in first day of trading on the Nigerian Stock Exchange (NSE).

 

The NSE admitted, by way of introduction, 20.35 billion ordinary shares of MTN Nigeria Communications at N90 per share.

 

The shares, which were listed on the Premium Board of NSE immediately rose by the highest daily allowance price change of 10 per cent or N9 to close at N99 per share.

 

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.”

 

Mr. Oscar 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 and enhance its value.”

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.

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Glo Gains 78% of New Data Subscription in GSM Sector in March – NCC Report

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Nigeria’s second largest telecommunications operator, Globacom, garnered 78 percent of new data subscriptions in the month of March, 2019. The operator gained nearly one million new subscribers in the month.

This was disclosed in the latest statistics released by the Nigerian Communications Commission (NCC) for the month of March 2019. According to the statistics, Globacom gained 950,115 new internet users, taking its total internet subscriptions to 28,436,386 from 27,486,271 recorded in February, 2019.

Two other operators, MTN and Airtel, also featured marginally on the gainers’ list in March. Airtel added 351,657 new internet users, while MTN added 13,552 subscribers. 9mobile, on its part, lost 166,542 users in the month under review.

Overall internet users in Nigeria increased to 115,938,225 in March from 114,725,357 recorded in February, according to the NCC statistics. This indicates an increase of 1,212,868 new subscribers in one month.

Globacom has been on ascendancy in terms of acquisition of new internet subscribers in the last one year ostensibly due to the consistent improvement in the operator’s data services.

The company has the widest 4G LTE coverage in the country, and the technology ensures more reliable and faster internet usage experience. Globacom also has the most attractive data plans in the market, with packages that appeal to both high and low data users.

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Streaming Global, DataGo Solutions Ink Deal to Accelerate OTT/VOD Streaming Market in Africa

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L-R: Gbenga George, Co-founder, DataGo Solutions and Richard Oesterreicher, CEO, Streaming Global, exchanging handshake after the signing ceremony
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Marking its first step towards an international market, Streaming Global has joined forces with DataGo Solutions as its first exclusive reseller for an overseas territory.

 

The deal covers the entire continent of Africa where, according to the forecast performed by Digital TV Research, the OTT market value will exceed $1 Billion by 2024.

 

This partnership drives Streaming Global’s continued mission to enable the reliable, scalable, and cost-effective delivery of live, OTT, and VOD video streaming services over the Internet.

 

Richard Oesterreicher, CEO, Streaming Global, said “We are overjoyed to have DataGo Solutions as Streaming Global’s exclusive reseller for this emerging market.

 

“The growing infrastructure there fits well with Streaming Global’s reliable and simple streaming delivery pipeline.”

 

DataGo Solutions founders, Gbenga George and Nicholas Horton, have extensive backgrounds and knowledge in the emerging African OTT/VOD market.

 

Horton is a technology leader with over 14 years of industry experience, driving business growth and market penetration both in the US and abroad.

 

George is a technology investor and lawyer with over 18 years of industry experience in various disciplines including intellectual property, contract negotiation, and market adoption.

 

“We view this technology as a true innovation in OTT/VOD and live streaming content that will become the new standard for the next decade.

 

“We couldn’t be happier to have the opportunity to take this technology to market for the continent of Africa and redefine the streaming industry,” said George.

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Arik Air takes deliver of another aircraft from maintenance

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Arik Air, Nigeria’s leading airline on Thursday welcomed another aircraft fresh from maintenance overseas.

The arrival of the aircraft, a Boeing 737-800 Next Generation (NG) is coming eight days after a Boeing 737-700NG returned to service from C-check on Wednesday, May 15, 2019.

 

The Boeing 737-800 NG aircraft is a stretched version of the 737-700 aircraft.

 

Captain Roy Ilegbodu, Chief Executive Officer, Arik Air, reiterated the airline’s mission which is “To become a dominant air-services brand, globally admired for its world-leading operating, safety and service delivery standards, as well as its role in promoting Nigeria’s reputation at home and abroad”.

 

Captain Ilegbodu once again thanked customers for their loyalty and trust in Arik Air.

 

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