Telecom
Regulatory Approval Delays MTN Nigeria’s PO Allotment

MTN Nigeria Communications (MTN Nigeria) Plc’s retail public offer’s allotment is still undergoing regulatory approval, more than one month after the closure of application list for the offer.

Sources at the weekend said MTN has yet to allocate the shares to the retail investors as the allotment proposal was still undergoing regulatory approval review, according to the Nation.
According to sources, Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC) is still reviewing the allotment proposal and investors will be credited as soon as the final approval is received.
Market analysts, however, said the delay in regulatory approval undermined the digitalisation of the primary offer process. The MTN offer saw the maiden deployment of the Nigerian Exchange (NGX)’s Primary Offer, a digital tool aimed at automating the primary issuance process.
The MTN Nigeria’s public offer set record as the first to be delivered through a digital platform, thus facilitating maximum participation by investors. Investors were able to submit applications through the issuing houses, stockbrokers, banks and online through a unique digital application platform, PrimaryOffer, administered by the NGX.
MTN Nigeria had offered 575 million ordinary shares of 50 kobo each to the public at a price of N169 per share. Application list for the offer had opened on December 1, 2021 and closed on December 14, 2021.
Minimum subscription to the retail offer was 20 shares and thereafter in multiples of 20 shares. The offer included a bonus share of one for every 20 shares bought by a retail investor subject to maximum bonus shares of 250 per investor. However, to qualify for the free share such retail investors must hold the shares allotted to the after the allotment date for at least a period of 12 months
The public offer was an offer for sale by MTN Group, which is divesting part of its shares in MTN Nigeria to allow investors to buy equities in the telecoms giant.
Karl Toriola, chief executive officer, MTN Nigeria Communications (MTN Nigeria) Plc, said the success and growth of MTN Nigeria was linked to Nigeria and Nigerians and it was very exciting to offer Nigerians the opportunity to own shares. in MTN Nigeria.
“Our journey to becoming the largest network in Nigeria has been humbling, but we still have a long way to go. There is much more to do to support the evolution of an inclusive digital economy, and we continue to invest as we evolve into a truly digital operator, capable of seamlessly integrating value across the evolving telecommunications, digital and fintech segments,” Toriola said.
Ralph Mupita, president and chief executive officer, MTN Group, said the offer aligned with MTN Group’s strategic priority to create shared value.
He noted that in the last 20 years, the group has worked diligently to connect 68 million subscribers onto voice and data networks and ensure that it delivers the benefits of a modern connected life.
“With this offer, we will contribute to the further deepening of Nigeria’s equity capital markets. It is the first in a series of transactions as the MTN Group implements its plans to ensure broad-based ownership by reducing its shareholding in MTN Nigeria to 65 per cent over time. We thank the Nigerian authorities for the support we as MTN Group have received in the various approvals related to this offer, and remain committed to play our humble role in driving digital and financial inclusion across the country over the medium-term,” Mupita said.
Telecom
Surge in Fibre Cuts Hobbles Service Provisioning

Nigeria’s telecom operators recorded 155, 397 fibre-cut incidents between April and May 2026, and these they blame on why internet or calls suddenly stop working.

Data from the Nigerian Communications Commission (NCC) showed fibre-cut incidents increased from 74 276 in April to a record 79 121 in May, bringing the two-month total to the highest level recorded by the industry.
This represents a 2 428% increase from the 5 934 incidents reported during the first quarter of 2026.
Vandalism remained the leading cause of fibre cuts, accounting for more than 54 000 incidents despite telecom infrastructure being designated as Critical National Information Infrastructure, a classification intended to strengthen protection of key digital assets.
Also road construction constantly damages fiber where iggers and machines tear up buried cables during road repairs or construction.
Even with all these, some state governments make it hard for companies to fix cables quickly across different areas with all manners of fees and levies.
The NCC designation provides for penalties of up to 10 years’ imprisonment for offenders, but operators continue to face widespread infrastructure damage.
Proposed solutions, including Nigeria’s Dig-Once policy and AI-powered fibre sensing technologies, have yet to achieve widespread adoption.
The NCC is developing a cost-based framework for shared underground duct infrastructure, while operators are exploring AI-powered fibre sensing technologies that can detect cable damage in real time and improve network resilience.
Nigeria is pursuing ambitious broadband targets under its National Broadband Plan and has expanded fibre deployment to about 35 000 kilometres.
However, infrastructure protection has not kept pace with network expansion, leaving subscribers vulnerable to unreliable connectivity despite continued operator investment.
Telecom
Helios Towers Secures $29m Facility to Expand Across Africa

Standard Bank has partnered with Helios Towers to provide a $29 million Social Documentary Credit Facility. According to the financial services company, this transaction marks Standard Bank’s first Documentary Credit Facility structured in a Sustainable Finance format.

It notes that the facility will support the procurement and importation of telecommunications infrastructure and related services across Africa.
It will also provide payment certainty to suppliers, while supporting Helios Towers’ working capital requirements and infrastructure expansion programme, the bank adds.
Structured in accordance with the Loan Market Association’s Social Loan Principles, the financing is designed to promote digital connectivity and telecommunications infrastructure development in underserved markets.
This will help Helios Towers further expand its footprint and enhance mobile network coverage and connectivity across the continent.
Helios Towers operates one of Africa’s independent telecommunications tower platforms, enabling mobile network operators to extend coverage across multiple markets.
Standard Bank notes that the facility supports the expansion of tower infrastructure and services, increased network densification and improved connectivity in underserved markets and remote regions across the African continent.
It will also drive digital inclusion and tackle the digital divide while supporting economic growth and socio-economic development.
“This transaction demonstrates the power of innovation in trade finance. By combining a first-to-market Social Documentary Credit Facility with a cross-border funding solution, Standard Bank has supported Helios Towers’ growth ambitions while helping extend digital connectivity to underserved communities across Africa,” says Benoit Samouilhan, global transaction banker at Standard Bank Corporate and Investment Banking.
According to the bank, this facility enables positive social impact by increasing and improving network coverage and connectivity in some of the world’s most remote regions.
“Reliable digital infrastructure is fundamental to Africa’s future growth and development,” says Alex Carter, group finance director at Helios Towers.
“This facility provides us with the flexibility and certainty needed to support our ongoing infrastructure investments while advancing our mission of expanding connectivity across the continent. We value our longstanding relationship with Standard Bank and look forward to building on this partnership.”
Telecom
NCC Begins Stakeholder Consultation on MVNO Business Rules

Nigerian Communications Commission (NCC) will on Thursday convene a stakeholders’ consultative forum to review the draft business rules for Mobile Virtual Network Operators (MVNOs) in Nigeria.

NCC
The forum, scheduled to hold at 10 a.m. at the NCC Annex Office, Mbora, Abuja, is expected to bring together telecommunications operators, industry associations and other stakeholders to provide input on the proposed regulatory framework before its finalisation.
The commission announced the event on its official social media platforms, inviting interested stakeholders to participate in the consultation process.
The engagement is part of the NCC’s efforts to strengthen the regulatory framework for MVNO operations and promote greater competition, innovation and consumer choice in Nigeria’s telecommunications sector.
Mobile Virtual Network Operators are telecommunications service providers that offer mobile services by leasing network capacity from licensed Mobile Network Operators (MNOs), rather than owning spectrum licences or telecommunications infrastructure.
The NCC has identified the MVNO licensing framework as one of its initiatives aimed at deepening competition, expanding access to telecommunications services and driving digital inclusion across the country.
The consultative forum is expected to provide stakeholders with the opportunity to review the draft business rules, make recommendations and contribute to the development of a robust operational framework for the emerging MVNO segment.
The commission is expected to issue further details on the outcome of the consultation after the meeting.
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