Telecom firm to be listed on Nigerian Stock Exchange this year

shakirudeen taiwo

July 3, 2017 9:04 AM

One of the conditions agreed to during the fine negotiation with the Federal Government, is the listing of MTN Nigeria on the Lagos bourse.

Ferdi Moolman, the CEO of MTN Nigeria

The largest and leading telecommunication company in Africa, MTN Group has declared on Friday, June 30, 2017, its plan to list its shares for trading on the Nigerian Stock Exchange (NSE) before the end of the year.

The company made this known during the visit of the MTN General Manager, Mr Nikiwe Tsaagane to Nigeria’s Minister of Science and Technology, Dr Ogbonnaya Onu at his office in Abuja.

Tsaagane noted that the capital market entrance of the company stock would positively impact the growth of the Nigerian capital market and improve Nigerian economy.

“It is going to offer an important role in the capital market as it will be one of the largest transactions in Africa. This will showcase Nigeria in the global economy if we can achieve it.”

“The transaction is structured by ensuring that it’s data based and inclusive as we ensure that our Nigerian customers are able to participate,” he said.

MTN Nigeria is the largest telecommunication company in Nigeria with about 62 million (34.5 % of Nigerians) active subscribers on the network. The government as part of the fine negotiation agreement with the South African company is its listing on the Lagos bourse within the 2017 financial year.

Tsaagane also said MTN is looking at partnering the Ministry advancing the development of science and technology in the country.

“We will ensure that all the stakeholders in different sectors will be incorporated and it is important to obtain your input, support and guidance,” he said.

The Minister would express appreciation at the gesture of the MTN Nigeria towards technological development of the country, stated that the proposed collaboration with the group would propel the culture that would any brilliant idea to grow the nation.

“We commend MTN for its contribution to our economy. We will support you, study your proposal and make our own view,” Onu said.

The minister urged MTN group to do its research and innovation in Nigeria, which would make the telecom to remain at the top of the industry in the country.

shakirudeen taiwo