Shareholders of MTN Nigeria have approved a major restructuring of the company’s digital financial services arm, clearing the way for a N152.06 billion transaction that will see the telecom giant relinquish majority control of its fintech subsidiaries.

The approval, granted at the company’s Annual General Meeting on April 30, endorses Resolution 9, which transfers a 60 per cent stake in MoMo Payment Service Bank Limited and Y’ello Digital Financial Services Limited to MTN Group Fintech B.V.

Under the arrangement, the group’s fintech arm will inject fresh capital into the businesses while also acquiring shares from MTN Nigeria through a hybrid structure combining primary and secondary investments.

Following the transaction, both parties will consolidate their interests into a newly created holding company to be registered with the Central Bank of Nigeria, a move designed to streamline oversight and position the fintech operations for future investment.

The restructuring marks a significant shift in MTN Nigeria’s strategy, effectively transferring a larger share of the financial and operational responsibility for the fintech business to the parent company, while allowing the local entity to refocus on its core telecommunications operations.

Industry observers say the move aligns with the broader “Ambition 2030” roadmap of the MTN Group, which prioritises scaling digital and financial services across its markets.

The company acknowledged that its fintech subsidiaries are currently loss-making, reflecting the capital-intensive nature of building digital payment platforms.

By reducing its direct exposure, MTN Nigeria is expected to free up resources to strengthen its connectivity infrastructure, while the fintech arm gains the financial backing required to accelerate expansion.

The planned holding company structure is also expected to enhance investment flexibility, enabling the business to attract strategic partners and scale operations in areas such as rural penetration, merchant acquisition and digital payments.

Guinness Nigeria Plc is set to mark 76 years of operations on April 29, a milestone for one of the country’s most enduring corporate institutions and widely regarded as Nigeria’s foremost total beverage alcohol business.

Established in 1950 and with its first brewery commissioned in Ikeja in 1962, Guinness Nigeria holds a distinct place in industrial history as the first Guinness brewery built outside Ireland and the United Kingdom. What began as an imported stout has evolved into a deeply rooted local enterprise, growing alongside the country through decades of change, expansion, and reinvention.

From its early years to its listing on the Nigerian Exchange in 1965, the company steadily expanded its footprint, building a nationwide network of brewing and distribution operations, alongside a diversified portfolio that reflects both heritage and shifting consumer tastes.

Guinness Stout remains its most iconic brand, long associated with depth and character, while Malta Guinness has become a household staple across generations. Complementing these are spirits and contemporary offerings including  Orijin, Gordon’s, Don Royale and Smirnoff, each firmly embedded within Nigeria’s evolving consumer culture.

Today, Nigeria ranks among the most important markets for Guinness globally, underscoring a relationship that extends well beyond consumption into culture, identity, and shared moments of celebration.

This connection has been reinforced by a long-standing commitment to social impact. As far back as 1962, the company established the Guinness Eye Centre at the Lagos University Teaching Hospital, setting a precedent for healthcare interventions that continues today with a second eye centre in Onitsha. Its Water of Life initiative continues to deliver clean water to underserved communities, while sustained campaigns around responsible drinking and road safety reflect an ongoing commitment to societal well-being.

These efforts have shaped Guinness Nigeria’s identity, not just as a manufacturer, but as an active and consistent partner in the development of its host communities.

This interplay between enterprise and impact has been central to the company’s longevity, enabling it to remain both relevant and trusted, even as it evolves.

The 76th anniversary comes at a moment of renewed financial strength and transformation, following a return to profitability and the restoration of shareholder payouts after an extended period of consolidation.

Managing Director and CEO, Girish Sharma, described the milestone as the result of decades of deliberate choices. “In Nigeria, Guinness is part of the national story. The progress we have made reflects discipline, continuity, and a commitment to remaining a business that Nigerians trust, while growing in step with the communities around us,” he said.

Looking ahead, the company’s ambition is captured in its ‘Build for More’ agenda to become Nigeria’s premier and most celebrated total beverage alcohol company by the end of the decade. With a modernised portfolio, a strengthened balance sheet, and a sharper understanding of evolving consumer needs, that ambition is already in motion.

The mission, however, remains simple: to help Nigerians celebrate life, every day, everywhere.

Digital solutions powerhouse, Globacom, has paid tribute to Nigerian workers, whose steadfast industry and enduring commitment continue to propel NIgeria’s march towards development.

As the world observes the 2026 International Workers’ Day, the company acknowledged the indispensable role of labour as the unseen engine that keeps the machinery of national advancement in measured, purposeful motion.

Globacom, in a statement issued in Lagos on Thursday, appreciated the role of labour in oiling Nigeria’s wheel of development and also affirmed their importance in the progress of the country.

Glo urged employees across both public and private sectors to remain resolute in their pursuit of excellence, emphasizing that the collective discipline of the workforce is central to realizing Nigeria’s aspirations for sustainable growth and prosperity.

“We encourage all workers not to relent in their noble task of advancing the nation through conscientious service and professional dedication,” the statement affirmed.

The International Workers’ Day, commemorated annually on 1 May, celebrates the dignity of labour and the enduring significance of workers in shaping the fortunes of societies across the world.