MTN Group Holds Strategic Session In Nigeria, Plans IPO, Shareholding Diversification To Nigerians
The past few days have seen a high-powered delegation from MTN Group hold planned strategic sessions in Nigeria solely to underscore the African multinationals commitment to the country.
The sessions were also geared towards the planned listing of MTN on the Nigeria Stock Exchange as well as finalizing an unprecedented partnership with Ecobank Group on the provision of mobile financial services across Africa.
While in the country, the delegation which included Chairman, MTN Group, Mr. Phuthuma Nhleko; Group Chief Executive Officer, Rob Shuter and Board Chairman, MTN Nigeria, Mr. Pascal Dozie, on Monday, April 9, 2018, met with Vice President Yemi Osinbajo at the Aso Rock Villa.
The visit was used to express MTN Group’s commitment to Nigeria, and also to give assurances on the planned IPO and diversification of shareholding to Nigerians.
Other MTN Nigeria board members at the meeting were Colonel Sani Bello (retd); Chief Victor Odili; Mr. Tunde Folawiyo; Mr. Gbenga Oyebode; CEO, MTN Nigeria, Mr. Ferdinand Moolman and the Corporate Relations Executive, Mr. Tobechukwu Okigbo.
The MTN directors also met with the Senate President, Bukola Saraki, Minister of Communications, Adebayo Shittu, and CBN Governor, Godwin Emefiele, after which they visited the Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, who commended MTN for the incredible work it is doing in the communication sector and reiterated the commission’s commitment to the growth of the sector.
MTN Nigeria is the largest subsidiary of the MTN Group and Africa’s largest and most sophisticated telecoms network with over 53 million subscribers and a network coverage that spans 77.19% of Nigeria’s land mass servicing 89.39% of the population in 3,833 cities, towns and villages nationwide.
The telecommunications giant employs over 500,000 Nigerians directly and indirectly, and to date has invested over $13 billion in fixed assets and facilities nationwide to build the most expansive network in the country.
The company also set aside 1% of Profit After Tax annually to fund the activities of the MTN Foundation, the leading social impact organisation in Nigeria, which has expended over N18 billion in carrying out projects in 750 project sites in the 36 states of Nigeria and the FCT.