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MTN Nigeria Plans N52Bn Recapitalisation

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MTN Nigeria plans to issue two series of commercial papers worth N52.895bn, according to a corporate notice filed with the Nigerian Exchange Limited on Thursday.

MTN Nigeria Plans N52Bn Recapitalisation

In the notice, the company said that Series 8 & 9 Commercial Paper notes would be under its N250bn Commercial Paper Issuance Programme.

The notice signed by Uto Ukpanah, company secretary, said, “The issuance is part of the company’s strategy to diversify its financing options with the funds being deployed towards short-term working capital and funding requirements,” with a promise to provide more details to the market later.

Recently, MTN Nigeria raised N125bn through the issuance of commercial papers series 6 & 7.

Although, the company said it sought to raise N100bn, the offer recorded 146 per cent subscription with N125bn raised across both series.

The series included a 181-day commercial paper at a yield of 13 per cent and a 265-day CP at a yield of 13.50 per cent with an issue date of August 23, 2023.

In its recently released financial results for the first nine months of 2023, MTN Nigeria said its N250bn commercial paper programme was issued in March and August 2023 and that N52bn was redeemed in the month of September 2023 with the remaining tranches maturing in November 2023 (N72bn) at 12.5 per cent, February 2024 (N52bn) at 13 per cent and May 2024 (N72bn) at 13.5 per cent.

In the period ended September 2023, MTN reported a 21.8 per cent growth in its revenue from N1.45tn in September 2022 to N1.77tn at the end of the same period in 2023.

Its net finance cost rose by 174.4 per cent to N375.95bn, and profit before tax decreased by 42 per cent to N232.46bn.

Also, the telco’s earnings per share decreased by 45.2 per cent to N7.06 kobo while profit after tax declined by 45.2 per cent to N147.36bn.

MTN’s mobile subscriber base reached a new high of 77.6 million users as it added approximately 2 million users in the nine months. 3.6 million active data users were added in the nine months as its total data traffic rose by 46.3 per cent, and data usage (GB per user) grew by 29.1 per cent.

On the side of its fintech business, MTN Nigeria said it was recovering from the slowdown in H1 as active wallets rose by 1.6 million to 3.6 million, with over 293,000 MoMo agents and 197,000 merchants.

 

 


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Aleph Paves the Way for MSME Success in Nigeria with Launch of Aleph Express

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Aleph Group, Inc, an ecosystem of global digital experts and technology-driven solutions that enables the growth of digital marketing, has announced the launch of Aleph Express, its proprietary solution for micro, small and medium-sized enterprises (MSME) in Nigeria.

In one simple and intuitive app, Aleph Express provides a platform for MSMEs to create and maintain a free e-commerce website, create a product catalog, set local delivery options, manage, record and process orders while gaining meaningful insights to drive growth.

Most innovatively, Aleph Express provides one unified inbox that integrates Whatsapp, Messenger, and Instagram, to enable businesses to efficiently engage and sell – all in one place.

In addition, Aleph Express provides local payment solutions and support, creating a holistic offer for Nigeria’s thriving MSME sector.

According to the National Bureau of Statistics, Nigeria is home to more than 41 million MSMEs and contributed 49% of the country’s GDP in the last five years. 42% of MSMEs in the country – equivalent to more than 17 million businesses – operate within the wholesale and retail trade industry.

However, 97% of Nigeria’s retail industry is made up of traditional – largely offline – channels. Aleph Express’ solution, which takes all the heavy lifting out of starting and managing an online shop, will offer an opportunity for retailers to evolve traditional retail channels and capture online growth.

The launch of Aleph Express forms a key part of Aleph’s strategy to provide localised and actionable technology for advertisers and MSMEs alike. From its teams on the ground, Aleph offers unrivalled, local support to enable its partners to overcome in-market challenges and create valuable opportunities. Aleph, through its legacy brand Ad Dynamo, has been supporting Nigerian advertisers since 2009.

Matthieu Laporte, Vice President of SMB at Aleph, commented: “Micro, small and medium-sized enterprises are the backbone of the Nigerian economy. With Aleph Express, we enable them to create digital storefronts to attract more customers not only in their neighbourhood but across the country and the region.

“Our dedicated local teams support businesses and entrepreneurs new to this form of commerce and aim to onboard 10,000 monthly active merchants by the end of 2023.”

Approximately 90% of MSMEs in Nigeria use social platforms in one way or another to connect to customers, Aleph Express is a one-stop shop to accelerate businesses’ outreach to clients and potential new clients across the country.

Stephen Newton, Managing Director – Sub Saharan Africa at Aleph, added: “The launch of Aleph Express is a premiere – we are proud that Nigeria has been selected by Aleph as the first market to launch.

“This also marks a milestone in our offering, as Aleph Express is specially tailored for small and medium businesses, enabling these entrepreneurs to leverage the power of social platforms for their growth. With our local team standing by and supporting SMBs, I am confident that we are spearheading a revolution in this field.”


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Maida Pledges Support Meta on Undersea Cable Initiative

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Dr. Aminu Maida, Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), has said the support of the Commission awaits law-abiding investors like Meta, (formerly Facebook), which responds positively to Nigeria’s desire for investments that promote the agenda of government to achieve a robust digital economy.

Maida, who spoke when he received a delegation of Meta, led by the company’s Vice President for Africa, the Middle-East and Turkey, Kojo Boakye, when they visited NCC’s headquarters in Abuja, said the regulatory support to all investors, including operators in Nigeria, will be predicated on their playing by the rules and regulations guiding the sector.

He said the Commission places a lot of premium on compliance to industry laws, regulations and guidelines as such will also engender a level-playing field for all licensees and other stakeholders in the industry for sustaining a healthy competition and guaranteeing a sustainable growth in the Nigerian telecoms sector.

Boakye informed NCC boss that the purpose of the visit was to congratulate the EVC on his appointment by the President and to intimate him of ongoing efforts to land 2Africa Cable in Nigeria.

At 45,000 kilometres long, Boakye said the 2Africa submarine cable will be one of the world’s largest subsea cable projects and will interconnect Europe (eastward via Egypt), Asia (via Saudi Arabia), and Africa.

He said the system will go live in 2023, delivering more than the total combined capacity of all subsea cables currently serving Africa, with a design capacity of up to 180 terabytes per second (Tbps).

Boakye stated that 2Africa will deliver much-needed Internet capacity and reliability across large parts of Africa, supplement the fast-growing capacity demand in theMiddle East and underpin further growth of 4G, 5G and fixed  broadband access for billions of people, especially in Nigeria.

He solicited NCC’s support in sailing through all necessary legal and regulatory hurdles in landing the submarine cable to complement existing backbone infrastructure in Nigeria.

He also said Meta, through a consortium, plans to land 2Africa cable simultaneously in Lagos and Akwa-Ibom States “in order to ensure those not yet connected are connected while those already connected are given opportunity for enhanced and affordable access.”


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MTN PR Manager Earns a PhD as Pan-Atlantic University Convocates 11 Doctoral Graduates

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Lakinbofa Goodluck, MTN Nigeria’s PR Manager, was one of 11 doctoral graduates at the Pan-Atlantic University’s (PAU) convocation on December 2, 2023.

He was awarded a PhD certificate for his laudable research thesis on Nigeria’s film industry titled ‘Defining the Christian Film in the Nollywood Film Industry’. He sought to understand the meaning-making process between the filmmaker/creative collaborators and the audience through the lens of genre.

Amidst the vibrant event, where attendees adorned varied hoodies and regalia, the university celebrated a total of 206 graduands. These individuals were acknowledged for enduring academic rigour and demonstrating mastery of knowledge and the requisite character to contribute meaningfully to society.

During his address, the Pro-Chancellor of the university and former Minister of Foreign Affairs, Mr. Odein Ajumogobia SAN, commented on the potential interference of artificial intelligence on learning. He emphasized the importance of experiential learning to foster independent analysis and thought.

“It is only in continuing to challenge students to analyse, evaluate and create that we can maintain the core essence of tertiary education and produce graduates who are equipped to navigate the complexities of the future,” he stated.

PhD is the peak of formal education and only intensely disciplined, determined and curious people dare to attain it.

Reflecting on the significance of achieving a PhD, Lakinbofa shared, “This is not just a personal achievement; it’s a tribute to the relentless pursuit of knowledge and the boundless curiosity that drives me. Exploring the intricacies of Nigeria’s film industry in my thesis was a rewarding journey into the world of genre and audience engagement.

“As one of the 11 Doctoral graduates, I stand amidst a cohort of individuals charged to contribute significantly to society. I acknowledge both the burden and the fulfilment.”

Given the rapid progress of the Nigerian film industry and its substantial contribution to the nation’s economy, Lakinbofa’s study promises to provide stakeholders with invaluable insights.

 

 

 

 


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