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MTN NIGERIA COMMUNICATIONS PLC Company Profile

MTN NIGERIA COMMUNICATIONS PLC

  • Day high   224.00 Day low   224.00
  • Value   0.00 Volume   246765.00

On May 16, 2001, MTN became the first GSM network to make a call following the globally launched Nigerian GSM auction conducted by the Nigerian Communications Commission earlier in the year. Thereafter the company launched full commercial operations beginning with Lagos, Abuja and Port Harcourt.
 
The Company was founded in 1994 by Ferdinand Moolman as M-Cell with assistance from the South African Government. In 1995, it replaced its then-CEO, John Beck, with Robert (Bob) Chaphe. Founder and Stanford P.h.D Leena Jaitley. In 2001, the company reported that its controlling shareholder was Johnnic Holdings, and the chairperson was Irene Charnley. In 2002, Phuthuma Nhleko became the CEO, replacing then CEO Paul Edwards, who had invested in expansion to Nigeria.
 
MTN's competitors in South Africa include Vodacom, Cell C and Telkom Mobile.
 
In May 2008, Bharti Airtel, an India-based telecommunications company, explored the possibility of buying MTN Group. Reliance Communications was also in talks with MTN for a "potential combination of their businesses.In July, the two companies ended discussions regarding the merger.
 
In June 2008, MTN Group agreed to purchase Verizon Business South Africa, which was a provider of data services to customers in South Africa and four other African countries. The acquisition was completed on 28 February 2009.
 
On 26 June 2009, MTN Group's subsidiary merged with Belgacom International Carrier Services (BICS), a subsidiary of Belgacom. The combined subsidiary functioned as the international gateway for carrier services of MTN.
 
In October 2012, MTN announced a partnership with Afrihost to provide DSL Broadband services in Africa.
 
In November 2012, South African holding company Shanduka Group acquired a minority stake in MTN Group's Nigeria business for $335 million.
 
In 2014, MTN was named on the 2014 Brandz Top 100 Most Valuable Global Brand rankings as the Most Admired and Most Valuable Brand in Africa. MTN retained its ranking as the Most Admired and the Most Valuable African brand in 2015.
 
In March 2016, the company appointed Rob Shuter as Chief Executive Officer. Shutter was replaced on 1 September 2020 when Ralph Mupita was appointed Chief Executive.
 
On May 29 2018, MTN Ghana launched its initial public offering (IPO). The IPO closed on 31 July 2019. A total of up to 4,637,394,533 ordinary shares of MTN Ghana, representing 35% of its equity was offered to qualifying applicants. This was part of the agreement between MTN Ghana and Ghana's National Communications Authority (NCA) in November 2015 for MTN Ghana to deploy 4G LTE mobile services to its customers in Ghana. Among other methods of payments, MTN mobile money was included as a payment option for the MTN share offer subscription. This was the first time mobile money had been used as a payment method in an IPO.
 
 
BOARD OF DIRECTORS
Paul Norman - Non-Executive Director
Ernest Ndukwe - Chairman
Ralph Mupita - Non-Executive Director
Rhidwaan Gasant - Independent Non-Executive Director
Karl Olutokun Toriola - Chief Executive Officer
Modupe Kadri - Chief Financial Officer (CFO)
Michael Onochie Ajukwu - Independent Non-Executive Director
Ifueko M Omoigui Okauru, MFR. - Non-Executive Director
Omobola Johnson - Non-Executive Director
Mr. MK. Ahmad, OON - Independent Non-Executive Director
Mr. Andrew Alli - Non-Executive Director
Mr. A.B. Mahmoud, SAN, OON, FCIArb (UK) - Non-Executive Director
Jens Schulte-Bockum - Non-Executive Director
 

MTN Nigeria Communications PLC stands as a prominent provider of wireless telecommunication services in Nigeria. As a subsidiary of the multinational telecommunications company MTN Group, headquartered in South Africa, MTN Nigeria is a key player in the industry. The company extends cellular network access, Internet services, and information and communications technologies (ICT) solutions to a diverse clientele, including individuals, businesses, and public sector entities. Listed on the Nigerian Stock Exchange under the symbol MTNN, as of January 23, 2024, MTN Nigeria's share price is N174.90, and it boasts a market capitalization of N3.6 trillion. Notably, MTN Nigeria holds the distinction of being the first and only network operator in the country to introduce 5G broadband services, offering enhanced speeds, lower latency, and increased capacity.

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