Telecom
MTN Reports $357m Loss, Slashes Dividend

MTN Group Ltd, Africa’s biggest mobile phone operator reported a $357 million half-year loss on Friday and cut dividend payouts, following regulatory fine in imposed on the operators by the Nigerian Communications Commission (NCC) and underperformance in its South African home market.
Founded with the South African government’s help after the end of apartheid in 1994, MTN agreed in June to pay a 330 billion naira ($1.05 billion) fine in a settlement with Nigerian authorities for missing a deadline to cut off unregistered SIM cards from its network.
MTN said the fine, a third of the initial penalty, wiped off 10.5 billion rand, 474 cents per share, from headline earnings, South Africa’s main measure of profit that strips out certain one-off items.
The Group’s headline loss came in at 4.9 billion rand ($357 million), or 271 cents per share, in the six months to end-June. This compared with headline earnings of almost 12 billion rand, or 654 cents per share, a year earlier.
The company, which has more than 230 million subscribers, cut its dividend by almost 50 percent to 250 cents per share for the half year.
MTN has said its Nigerian business would pay the fine in local currency. The penalty was worth $1.7 billion when it was announced, but the naira has fallen sharply since then, cutting the equivalent dollar value by about $500 million.
The company also said the results were affected by unfavourable currency swings, underperformance in its home market and in Nigeria, where it had to cut off another 4.5 million SIM cards to comply with the local regulator’s user registration requirement.
The report by MTN read:
“MTN continued to operate in a challenging environment for the six months ended 30 June 2016. The financial performance for the period reflects the confluence of a number of material issues, which created the ‘perfect storm’. The Group has made strides towards resolving these challenges although many of these factors fall outside of its control.
“The Group’s reported results were significantly impacted by the Nigerian regulatory fine. On 10 June MTN Nigeria resolved this matter with the Federal Government of Nigeria (FGN) and agreed to pay the FGN a total cash amount of 330 billion Nigerian naira (US$1,671 billion, using the exchange rate prevailing at the time) over three years in a full and final settlement. This was agreed in addition to complying with certain other regulatory conditions imposed as part of the settlement reached.
“The 50 billion naira (US$250 million) paid in good faith and without prejudice by MTN Nigeria on 24 February 2016 forms part of the monetary component of the settlement, leaving a balance of 280 billion naira (US$1,418 billion, using the exchange rate prevailing at the time) outstanding. In June 2016 the first scheduled payment of 30 billion naira (US$124 million) was made. The remaining cash payable at 30 June 2016 amounted to 250 billion naira (US$882 million).
“The Group has accrued the present value of 280 billion naira (US$1,418 billion, using the exchange rate prevailing at the time), which in total had a negative impact of R10 499 million on reported earnings before interest, tax, depreciation and amortisation and impairment of goodwill (EBITDA) and a R8 632 million negative impact on the Group’s reported headline losses, or 474 cents on reported headline losses per share. The reported impact on the Group’s statement of cash flow for the period amounted to R5 870 million, which equates to the 80 billion naira paid during the period.
“During the period, R1 324 million costs were incurred on a range of professional services relating to the negotiations that led to a reduction of R34 billion in the Nigerian regulatory fine to 330 billion naira (US$1,671 billion, using the exchange rate prevailing at the time). The board has exercised its judgement and approved the quantum of the professional fees incurred taking into account global benchmarks and the value delivered culminating in the final settlement of the Nigerian fine.
“Apart from the Nigerian regulatory fine, the depreciation of local currencies against the US dollar had a substantial impact on the Group’s results. This resulted in foreign exchange losses amounting to R3 606 million during the period. MTN South Sudan reported an impairment on property, plant and equipment (PPE) of R259 million** (using a Rand/ Sudanese pound exchange rate of 0.376). When the impairment write-off is presented on an organic basis the impairment amounts to R2 632 million* (using a rand/Sudanese pound exchange rate of 3.837). This organic impairment write-off had a significant negative impact on organic EBITDA.
“The Group’s underlying performance was impacted by weak macro-economic conditions affecting consumer spending, the withdrawal of regulatory services in MTN Nigeria from July 2015 until May 2016 and disconnections of subscribers related to subscriber registration requirements, mainly in Nigeria. MTN Nigeria disconnected the last batch of 4,5 million subscribers in February 2016. MTN Uganda and MTN Cameroon were also impacted by subscriber registration requirements. This resulted in significant free minutes provided for subscriber re-registration campaigns, contributing to a 12,2%* decline in the effective voice tariff. The Group’s performance was further impacted by aggressive price competition and under-performance of MTN South Africa.
Telecom
MTN Nigeria Crowns Ayo Benzi Winner of Next Afrobeats Star

MTN Nigeria, in collaboration with ONErpm and Ultima Studios, has announced Ayodeji Benson, popularly known as Ayo Benzi, as the winner of the maiden edition of the Next Afrobeats Star reality show.

L-R: Onyinye Ikenna-Emeka, Chief Marketing Officer, MTN Nigeria; Ayodeji Benson, Winner, Next Afrobeats Star Reality Show (Season 1) and Emamoke Ogoro, General Manager, Brand and Communication, MTN Nigeria, at the grand finale of the Next Afrobeats Star Reality Show (Season 1), held at the Ultima Studios, Lekki, Lagos on Saturday, December 13, 2025.
The grand finale, held on Sunday night at Ultima Studios in Lekki, Lagos, marked the climax of a nationwide talent search that began in September with over 15,000 aspiring musicians.
After weeks of auditions, mentorship, and rigorous training, five finalists – Ayo Benzi, Dave Cash, Kaeko, Somto O’Laker, and Lucky Yay – battled for the top prize in a high-energy showcase of performance and artistry.
At the end of the electrifying contest, Ayo Benzi emerged victorious, securing a ₦150 million music deal. Dave Cash was named first runner-up with ₦100 million, while Kaeko, Somto O’Laker, and Lucky Yay received ₦75 million, ₦50 million, and ₦25 million respectively.
Throughout the season, contestants were mentored by leading Afrobeats producers Sarz, Puffy Tee, P Prime, and Andre Vibez. Benzi, who was part of Puffy Tee’s team, credited the mentorship programme for sharpening his craft and stage presence.
Speaking at the event, Onyinye Ikenna-Emeka, Chief Marketing Officer of MTN Nigeria, said the initiative reflects the company’s commitment to youth empowerment and cultural expression.
“The Next Afrobeats Star platform is about creating real opportunities for young Nigerians and giving their talent the structure, visibility, and support it deserves.
“Afrobeats continues to place Nigeria on the global cultural map, and MTN is proud to be enabling the next generation of artists who will take this sound even further,” she said.
She added that the finale was not just a competition but a celebration of growth and readiness for the global stage.
In his acceptance speech, Ayo Benzi described the victory as a defining moment in his career.
“A big thank you to MTN. From the audition days, the treatment MTN has given us has been amazing. God bless the brand,” he said.
The finale also featured guest performances by Afrobeats stars Iyanya and Bella Shmurda, adding glamour to the night and reinforcing the show’s connection to the wider music ecosystem.
With the successful conclusion of the season, MTN Nigeria and its partners reaffirmed their role in championing youth ambition, supporting creative industries, and shaping the future of Nigerian music through platforms that turn potential into opportunity.
Telecom
T2 Faces NCC Probe in Benue Over Major Service Outage in 9 LGAs

T2, formerly known as 9mobile, is under investigation by the Nigerian Communications Commission (NCC) in Benue State for an undisclosed incident disrupting USSD, SMS, voice, and data services across nine local government areas.

T2
The affected areas include Ado, Agatu, Gwer East, Gwer West, Konshisha, Obi, Ohimini, Okpokwu, and Otukpo, as detailed in an advisory on the NCC Major Outages Portal, which tracks significant disruptions reported by Mobile Network Operators (MNOs) and Internet Service Providers (ISPs).
Neither T2 nor its public relations firm, Chain Reactions, has responded to inquiries on the outage’s cause or restoration efforts as of this report.
The NCC’s continued reference to the operator as 9mobile, months after its public rebranding to T2 in August 2025, has sparked questions about whether the name change was formally notified to the regulator.
This probe aligns with NCC mandates requiring operators to disclose major outages, their impacts, and timelines for fixes, with compensation obligatory for disruptions exceeding 24 hours under the Consumer Code of Practice Regulations.
Industry watchers note that such incidents, often linked to fibre cuts, power failures, or infrastructure faults, underscore ongoing challenges in Nigeria’s telecoms sector, particularly amid T2’s subscriber losses post-rebrand. NCC vows transparency via its portal to hold operators accountable and protect consumers.
Telecom
NCC Grants 45 Days for Telecoms Firms to Fix Unapproved Shareholding Changes

Nigerian Communications Commission (NCC) has issued a public notice directing all its licensees that have effected changes exceeding ten percent (10%) in their shareholding structures without prior regulatory approval to immediately regularise such infractions.

NCC
In the notice published on the Commission’s website, www.ncc.gov.ng, the NCC said the directive was issued in exercise of its statutory powers under the Nigerian Communications Act, 2003.
According to the Commission, affected licensees are granted a 45-day grace period from the date of publication to regularise any unapproved changes in their shareholding structures that exceed the 10 per cent threshold.
The NCC clarified that no sanctions will be imposed during the 45-day window for any previous infractions relating to unapproved shareholding changes above the prescribed limit. However, it warned that appropriate sanctions will be enforced immediately after the expiration of the grace period against defaulting operators.
The sanctions, the Commission stated, will be applied in line with the Nigerian Communications (Enforcement Processes, etc.) Regulations, 2019.
The regulator further emphasised that the notice is issued pursuant to Regulations 41, 42 and 43 of the Licensing Regulations, 2019, which require licensees to obtain prior approval from the Commission before effecting significant changes in ownership or control.
Industry observers note that the directive underscores the NCC’s renewed focus on regulatory compliance, transparency, and corporate governance within Nigeria’s telecommunications sector.
Licensees have therefore been advised to promptly engage with the Commission to regularise their shareholding structures and avoid penalties once the grace period lapses.
Telecom3 days agoT2 Faces NCC Probe in Benue Over Major Service Outage in 9 LGAs
Telecom3 days agoMTN Nigeria Crowns Ayo Benzi Winner of Next Afrobeats Star
E-Business3 days agoJumia CEO says Black Friday Signals Nigeria’s E-Commerce Maturity
E-Financial3 days agoGTCO Secures Regulatory Approvals to Raise N10bn in Private Placement
General News3 days agoNDIC Reinforces Full Oversight Compliance to Safeguard Depositors
E-Financial2 days agoBanks to Impose N50 Stamp Duty on Transfers of N10,000 and Above from January 1
Telecom3 days agoNCC Unveils Draft 5-Year Spectrum Roadmap, 60 GHz License-Exempt Guidelines to Boost Broadband, Innovation
Telecom3 days agoNCC Grants 45 Days for Telecoms Firms to Fix Unapproved Shareholding Changes











