Connect with us

Telecom

6.6m Nigerians Become MTN Shareholders as Telco Rakes in N111.75Bn from Offer

Published

on

Kindly share this post

MTN Nigeria Communication Plc has said it now has 6.6 million Nigerians as direct or indirect shareholders as it made N111.75bn from its share offer to Nigerians.

6.6m Nigerians Become MTN Shareholders as Telco Rakes in N111.75Bn from Offer

The telecommunications company said this in a statement titled ‘Results of the series 1 offer for sale of MTN Nigeria Communications Plc ordinary shares, first public offer via digital platform in Nigeria’.

Uto Ukpanah, company secretary, MTN Nigeria stated that “The Offer was implemented by way of a bookbuild to qualified institutional investors and a fixed price offer to retail investors.

“The Offer was oversubscribed with valid applications for a total of 801.97 million units, leading to the activation of the approved 15% over-subscription clause of an additional 86.25 million MTN Nigeria shares.

“In all, 661.25 million MTN Nigeria shares were allotted. A total of 126,720 retail investors submitted valid applications and received full allotment; and institutional investors including pension funds, insurance companies, asset managers, corporates, and foreign portfolio investors that participated in the bookbuild were allotted 72.09% of their applications. This includes Nigerian pension funds representing approximately 6.5 million Nigerian contributors.

“Following the successful completion of the Offer, MTN Group’s shareholding in MTN Nigeria reduced by 3.25 percentage points, from 78.83% to 75.58%.

“In line with the innovative incentive structure of 1 free share for every 20 purchased, subject to a maximum of 250 free shares per investor, an additional 4.28 million MTN Nigeria shares will be allotted to qualifying investors who hold the shares allotted to them for 12 months till 31 January 2023”.

MTN Group adopted a unique structure in this offering by determining a fixed price of N169 per share for the retail offer through a Bookbuild to Qualified Investors that was completed on 26 November 2021.

The fixed price offer to Retail Investors was at a discount of 11% to the closing price of MTN Nigeria stock on the day the Bookbuild was completed. The Offer commenced on 1 December 2021 and was completed on 14 December 2021.

Nigerian investors across the country supported the Offer through multiple channels – Receiving Agents, Issuing Houses and PrimaryOffer (a digital application platform).

The Offer is a landmark transaction and a true reflection of Nigerian investor confidence in MTN Nigeria. It marks the first time a digital application platform was used to democratize investing in a public offer and maximize investor participation across the country.

More than 89% of retail offer subscribers applied through the Primary Offer platform (mobile and web), and 114,938 new Central Securities Clearing System (CSCS) accounts were opened by first-time investors.

Ralph Mupita, CEO of MTN Group said: “We are pleased that this Offer has given so many Nigerians the opportunity to become owners of MTN Nigeria. With over 6.6 million Nigerians directly or indirectly becoming shareholders in MTN Nigeria, the objective of broadening the shareholder base, and creating shared value has been achieved.

“We are proud that our Offer was the first Nigerian public offer to use the digital application platform, PrimaryOffer, which enabled wider investor participation across Nigeria.

“We thank the Nigerian authorities for their support of this Offer. We remain committed to playing our humble role in driving digital and financial inclusion in Nigeria over the medium.”

Commenting on the Offer, Karl Toriola, CEO of MTN Nigeria said: “We are delighted to welcome so many new shareholders to the MTN family, up 11.6 times from the number before the offer.

“It has been inspiring to see so many Nigerians, many of whom are young, acquire shares for the first time, and use a digital platform to do so.

“This is the beginning of a journey to broaden our shareholding and there will be more opportunities to participate.

“We are pleased with the level of digital innovation we championed with this offer with the active collaboration of our lead issuing house and the various regulatory bodies. Deepening retail participation in Nigeria’s capital markets is a process, and we are off to a great start, demonstrating the role digital platforms can play in expanding access.

“I am particularly pleased that we completed this transaction in an accelerated time frame ensuring new shareholders can realize value almost immediately through participation in our 2021 full-year dividend.

“I would specifically like to thank the Honorable Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim (Pantami), the Nigerian Communications Commission and the wider Federal Government for the opportunity to execute this Offer.

“I thank the Securities and Exchange Commission, the Nigerian Exchange Limited, the CSCS, and all the parties involved for their support in delivering this ambitious Offer structure. I also appreciate our staff who worked tirelessly with our advisers on this project.

“Most of all I would like to thank our new shareholders for having confidence in us and in our future. We are delighted to have you on board for this journey to building a digital future together.”

Bolaji Balogun, CEO of Chapel Hill Denham, the Lead Issuing House said: “Chapel Hill Denham is honoured to have worked with MTN to complete Nigeria’s first digital and predominantly green offering.

“I wish to thank the SEC, the NGX, the CSCS, all the professional firms and other stakeholders, for delivering a big win for Nigeria’s capital markets in enabling the adoption of PrimaryOffer and this transaction marks a new and exciting future.

“Over 90% of subscribers to the Offer were first time participants in the capital markets and MTN Nigeria’s strong investment case made this possible.”

Nigerian Exchange Limited (NGX) CEO, Temi Popoola, CFA said: “NGX is proud to have worked with MTN Nigeria, Chapel Hill Denham and other parties to the transaction in advancing Nigeria’s capital market through the adoption of forward-looking technology.

“In the NGX era, we are resolute in our commitment to democratize finance in Nigeria in order to ensure every type of investor has access to public markets where they can invest in companies they believe in and reap value. With the digitised MTN Nigeria offering, we have made a tremendous stride in our plans for a full digital transformation of the Nigerian capital markets and we look forward to building on this.”

Central Securities Clearing System Plc CEO, Haruna Jalo-Waziri said: “We are excited to be part of the innovation brought by the Offer, which afforded the successful launch of PrimaryOffer digital application platform.

“This further buttresses the necessity for digital transformation, allowing market access for all categories of investors, including institutional and retail investors within and outside of the country.

“At CSCS, digital transformation has been the core of our strategic direction. We will continue to collaborate with our participants, issuers and other stakeholders to efficiently and effectively ease market access with innovative solutions through the investment cycle.”

Chapel Hill Denham Advisory Limited acted as Lead Issuing House and Bookrunner for the Offering, and Rand Merchant Bank Nigeria Limited, Renaissance Securities (Nigeria) Limited, Stanbic IBTC Capital Limited and Vetiva Capital Management Limited acted as Joint Issuing Houses and Joint Bookrunner.


Kindly share this post

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Telecom

Mastercard Report Reveals Top Travel Trends Shaping Africa in 2025

Published

on

Kindly share this post

Mastercard Economics Institute (MEI) has released its annual Travel Trends 2025 report, revealing the latest consumer spending insights and motivation when it comes to travel.

Cross-border movement is often influenced by the most pressing economic factors of the moment, such as exchange rates and geopolitical tensions. However, these are not the only factors driving consumers’ travel spending decisions, including those in Africa. Personal and purpose-driven factors remain powerful even when economic uncertainty looms.

Building on the resilience of the global travel sector seen last year, the 2025 report highlights how destinations across the African continent are increasingly appealing to tourists and, creating additional opportunities for local markets to develop tourism.

 “Africa is emerging as a global leader in purpose-driven travel, where nature, wellness, and culinary experiences are redefining the continent’s tourism landscape. These trends present a powerful opportunity to drive inclusive growth, support local economies, and position Africa as a key player in the future of global tourism,” said Mark Elliot, division president, Africa, Mastercard.

 Whether drawn by Namibia’s wellness retreats, South Africa’s wilderness experiences or Morocco’s vibrant culinary scene, travelers are expanding their horizons beyond traditional hotspots.

 Tourism is playing an important role in Africa’s growth story. Travelers are increasingly drawn to the continent’s natural beauty, culinary diversity, and wellness experiences. While economic and geopolitical factors matter, the pursuit of meaningful, purpose-driven travel remains strong. The Mastercard Economics Institute’s report sheds light on how countries are tapping into this trend to attract visitors and boost local economies,” said Khatija Haque, chief economist EEMEA, Mastercard Economics Institute.

By exploring a full range of travel motivations, the report identifies the main themes shaping travel today:

 Africa trends:

  • Nature-fueled adventures: South Africa and Zambia dominate cross-border spending around national park areas. Spending around South Africa’s major national parks far outpaced that of other countries, with nearly a quarter of the cross-border spending occurring within these zones. Zambia is also highly ranked as an outdoor adventure destination.
  • Culinary crossroads: Marrakech ranks highly on the foodie list with its median restaurant hosting tourists from many different countries, often to enjoy meals of tagine and b’stilla. Cape Town is also on the list, with its bobotie dish proving popular with visitors.
  • Wellness in the wild: Africa is establishing itself as a global leader in wellness-centered travel as consumers prioritize rejuvenation and self-care. Namibia, South Africa and Botswana are among the top destinations for travelers seeking spa-style and nature-based retreats and immersive eco lodges. Kenya is also ranked among the top 20 destinations for wellness In the Mastercard Wellness Index 2025.

 Other global trends:

  • Spa, summit and savor: Personal passions and goals motivate travel choices. Adventure-seekers are heading to the Nordics, where Finland’s national parks account for 7.1% of cross-border spending in the country.
  • Summer destination draws: The Asia-Pacific region commands the list of trending summer destinations. Flight booking data reveals the top global destinations gaining most momentum for June-September travel, relative to last year. Tokyo is the number one trending spot for summer 2025, followed by Osaka and then Paris.
  • Fuelled by fans: Fans travel internationally to see their favorite teams and athletes play. Case in point? During Shohei Ohtani’s World Series debut, spending by Japanese visitors in Los Angeles surged by 91%, six times the broader cross-border boost. 
  • Money matters: Despite geopolitical tensions and fluctuating prices, the factors that motivate consumers to travel are often more complex than just economic. But currency depreciation can make certain destinations, like Japan, more attractive due to their better value for money.
  • Wheeling and dealing closer to home: In general, business travelers favor longer trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Asia, Europe, the Middle East and Africa.

Mastercard is dedicated to helping the global tourism sector grow through market analysis and high-frequency, data-driven insights that enhance the travel experience. By empowering destinations and businesses to better understand evolving consumer trends, Mastercard is helping to shape a more connected and resilient future for travel across Africa.

You can view the full “Travel Trends 2025: Purpose-driven journeys” and other reports and insights from the Mastercard Economics Institute can be found here.


Kindly share this post
Continue Reading

Telecom

Nigeria to Receive $3Bn Telecoms Infrastructure in June – Minister

Published

on

Bosun Tijani, Minister of Communications, Innovations and Digital Economy
Kindly share this post

Nigeria is set to receive telecommunications equipment and fibre optic infrastructure worth $3 billion in June 2025, according to Bosun Tijani, minister of Communications, Innovation and Digital Economy.

Nigeria to Receive $3Bn Telecoms Infrastructure in June – Minister

Speaking during a panel session at the Nigeria Development Update (NDU) organised by the World Bank, Tijani revealed that the equipment valued at $1 billion was expected to arrive in the country by mid-2025.

He added that an additional $2 billion worth of fibre optic cables would soon be delivered to boost Nigeria’s telecommunications infrastructure.

According to him, the initiative aims to significantly enhance communication services across the country and bridge the connectivity gap.

Tijani also noted that a pilot phase targeting over 20 million Nigerians who currently lack access to any form of telecommunications would soon be launched.

The Nigeria Development Update (NDU) is a bi-annual World Bank report that assesses the country’s recent economic and social developments, policy directions, and provides recommendations to address emerging challenges.


Kindly share this post
Continue Reading

Telecom

Legend Internet Debuts Nigeria’s First Fibre-to-the-room Service

Published

on

Kindly share this post

Legend Internet Plc has launched FTTR by Legend — Nigeria’s first Fibre-to-the-Room (FTTR) service, redefining the standard for broadband connectivity across homes and businesses.

“Being listed on NGX is just the beginning, With FTTR by Legend, we are building the infrastructure of the future, today — not just to improve connectivity, but to transform how people live, work, and create”, said Aisha Abdulaziz, CEO of Legend Internet Plc.

This groundbreaking innovation was deployed by Legend, with strategic technology support from global telecommunications leader- Huawei. The result is a seamless digital experience that meets the demands of modern living.

The launch of FTTR follows the recent signing of a Memorandum of Understanding (MoU) between Legend Internet and Huawei Technologies.

“Our collaboration with Huawei reflects our commitment to global standards and local innovation. Unlike traditional broadband that stops at the router, FTTR by Legend brings pure fibre into every room, offering zero lag, full-house coverage, and the performance needed for smart homes, remote work, creators, and tech-forward enterprises.

The collaboration is aimed at accelerating broadband infrastructure development, enhancing local capacity, and positioning Nigeria as a digital leader in Africa. Huawei brings decades of R&D in fibre optic and smart home technology to support Legend in deploying this state-of-the-art infrastructure.

Coming on the heels of its recent listing on the Nigerian Exchange Limited(NGX), Legend Internet PLC shows no signs of slowing down. The company is celebrating its public debut with a landmark product — one that delivers ultra-high-speed fibre into every room of a building, enabling uninterrupted, gigabit-speed internet at all times.

Legend Internet’s entry into fibre-to-the-room solutions is part of a broader ambition to close the digital divide in Nigeria. While FTTR by Legend is currently being offered exclusively to high-end residences, the company plans to scale and democratize access through complementary solutions over time. This aligns with Legend’s dual-market approach.

In broadband, Legend leverages fibre optics to deliver ultra-high-speed internet directly to consumers, with a focus on reliability, speed, and innovation. In fintech, the company is expanding last-mile payment infrastructure and delivering secure, scalable tools including wallets, merchant solutions, and digital financial platforms for everyday use.

Legend’s mission is clear: to power Nigeria’s digital future — through cutting-edge technology, bold thinking, and local-first execution.


Kindly share this post
Continue Reading

Trending