Mtn Ghana Launches Ipo

Mtn ghana launches ipo

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It’s official! MTN to launch IPO on May 29

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MTN Group Limited, formerly M-Cell,[1] is a South Africanmultinational mobile telecommunications company, operating in many African, European and Asian countries. Its head office is in Johannesburg.[2] As of 30 June 2016, MTN recorded 232.6 million subscribers, making it the eighth largest mobile network operator in the world, and the largest in Africa.[3] Active in over 20 countries, one-third of company revenue come from Nigeria, where it holds about 35% market share.[4]

MTN Group is the primary sponsor of the South Africa national rugby union team and sponsors English football club Manchester United F.C.

In March 2016, the company appointed Rob Shuter as Chief Executive Officer.[5]

In December 2019, former Deputy Finance Minister of the Government of South Africa, Mcebisi Jonas, is appointed as the Board Chairperson of the company[6].

Mtn ghana launches ipo


MTN acquired Investcom, mainly under the Areeba and Spacetel brands.[7]

As of Q4 2018,[8] MTN is active in:


MTN's competitors in South Africa include Vodacom, Cell C and Telkom Mobile.

Merger talks with Bharti Airtel and Reliance Communications[edit]

In May 2008, Bharti Airtel, an India-based telecommunications company, was exploring the possibility of buying MTN Group, according to The Financial Times.[9]Reliance Communications, was soon in talks with MTN for a "potential combination of their businesses".[10][11] On 18 July, the two companies announced that they had mutually decided to end discussions regarding the merger.

Acquisition of Verizon Business South Africa[edit]

In June 2008, MTN Group agreed to purchase Verizon Business South Africa, which was a provider of data services to corporate customers in South Africa and four other African countries.[12] The acquisition was completed on 28 February 2009.[13] MTN positioned themselves to provide DSL Broadband services in Africa, particularly South Africa, through its partnership with leading South African ISP, Afrihost.[14][15]

International Carrier Services[edit]

On 26 June 2009, MTN Group participated in Belgacom International Carrier Services (BICS), a subsidiary of Belgacom, by merging it with its own subsidiary, MTN ICS.

Mtn ghana launches ipo

BICS will function as official international gateway for all international carrier services of Belgacom, Swisscom and MTN Group. These companies respectively hold 57.6%, 22.4% and 20.0% of the shares of the company.

Sale of Nigerian Stake[edit]

South African holding companyShanduka Group acquired a minority stake in MTN Group's Nigeria business for $335 million in November 2012.[16]

Most Admired African Brand[edit]

On 22 October 2015, MTN emerged as the Most Admired and the Most Valuable African brand, valued at US$4,672m, its second award in two years.

Brand Africa announced at the 4th Annual Brand Africa 100: Africa's Best Brands gala event in Johannesburg, that MTN is the overall best brand on the continent and reclaims the No. 1 spot as the Most Admired Brand in Africa.

MTN has won a number of brand awards in recent years. These include being named the only African brand in the 2014 BrandZ Top 100 Most Valuable Global Brand ranking, the only South African company on the World Champions list and the Most Admired and Most Valuable Brand in Africa, in the 2014 Brand Africa 100 ranking of the most admired and most valuable brands in Sub-Saharan Africa.[citation needed]

MTN Ghana IPO[edit]

On 29 May 2018, MTN Ghana launched its Initial Public Offering (IPO).

The IPO closed on 31 July 2018. 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.[17] 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.[18]

MTN Shuts Down Stores[edit]

September 4, 2019 - MTN closes stores in Nigeria and some of their stores in Johannesburg, South Africa due to rioting, looting, and attacks on some of their facilities.[19][20][21][22][23][24]

Geoffrey Onyeama the Nigerian Foreign Minister stated at a press briefing on September 4, 2019, that MTN group along with Shoprite, stated that the targeted South African stores in Nigeria are "subsidiaries that are owned by Nigerians." And that "the property owned by Nigerians within Nigeria and the people working there are Nigerians.” [25]

Lai Mohammed, Nigeria's Minister of Information and Culture, reported that some of the South African companies that were attacked in Nigeria have Nigerian investors owning significant amounts of stakes, and Nigerian employees.[26][27]

MTN has stated that they will continue to do business in Nigeria.


February 23, 2017, Nigerian protestors attacked a MTN office in Abuja, Nigeria as a counter attack due to violence targeted against Nigerians in South Africa [30][31]


On March 2019 MTN launched a WhatsApp channel to let its customers buy airtime and data bundles through the messaging app.

Customers can also check their balances and store their credit or debit cards in the app for future purchases. The service is provided by another South African company that has a global reach, Clickatell, which is a WhatsApp Business Solution provider.[32]

Cyprus branch re-branding[edit]

MTN sold its Cyprus branch to Monaco Telecom for €260 million in July 2018.[33] It was later re-branded as Epic in June 2019.[34][35]


MTN Group sponsored the CAF Champions Leaguefootball competition, as well as APOEL FC, winners of the Cypriot First Division in 2009, 2011, 2013 and 2014, and participants in the 2009–10 and 2011–12UEFA Champions League.

Since 2017, MTN Group is the primary sponsor of the South Africa national rugby union team.

On 18 March 2010, it was announced that MTN signed a sponsorship deal with English football club Manchester United F.C.[36]



MTN has been criticised for its activities in Iran's telecommunications sector.

MTN has a 49 percent stake in government-controlled MTN Irancell, the second-largest mobile phone operator in Iran, and 21 percent of MTN's subscriber base is from the country. In January 2012, the US-based advocacy group United Against Nuclear Iran (UANI) launched a campaign publicly calling for MTN to scale back its operations in Iran and end its business in the country.

UANI alleges that MTN technology is "enabling the Iranian government to locate and track individual cellphone users which it says is a violation of users' human rights".[37]

In June 2012, Reuters and the BBC reported an allegation by Chris Kilowan, a former executive for the company in Iran, that MTN Group may have been complicit in securing American telecommunications technology from Sun Microsystems, Hewlett-Packard and Cisco Systems on behalf of Irancell, in violation of trade sanctions against Iran.

Oracle, which owns Sun Microsystems, said that it was investigating and denied involvement, saying that it complies with US export laws.

Hewlett-Packard issued a similar statement. MTN Group denied the allegations, saying that it complied with US sanctions against Iran.[38]

Turkcell court case[edit]

Turkey's Turkcell filed a $4.2 billion lawsuit in Washington, D.C., in 2012 alleging the company used bribery to win a mobile licence in Iran that was first awarded to Turkcell. The court delayed the case in October 2012 pending a US Supreme Court decision on the Alien Tort Statute, the US human rights law on which Turkcell's suit is based.[39] In May 2013, Turkcell dropped its multibillion-dollar US lawsuit against MTN Group, citing a US Supreme Court ruling that hurt its case.

On 27 November 2013,Turkcell resued in Johannesburg[40][41]

Nigeria $5.2 billion fine[edit]

Main article: MTN $5.2 billion fine

In 2015, the Nigerian subsidiary of MTN was fined by the Government of the Federal Republic of Nigeria through the telecommunications regulator, Nigerian Communications Commission (NCC) for partial compliance of regulatory guidelines to Mobile Network Operators to disconnect from their network, all improperly registered Subscribers Identification Modules (SIM).

The commission exercised section 20(1) of the Telephone Subscribers regulation (TSR) law on MTN, leading to a calculated fine of $5.2 billion, according to the constitution.

The compliance audit carried out by the NCC on MTN network revealed unregistered 5.2 million customers lines were not deactivated as directed.

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This led to the NCC fining MTN with the sum of $1000 for each unregistered SIM according to the Telephone Subscribers regulation (TSR) law, which amounted to $5.2bn.[42][43]

What followed was major resignations among the top echelon of the organization including the chief executive officer, Sifiso Dabengwa, the Head of Nigeria Operation, Micheal Ikpoki and the Head of Cooperate Affairs, Akinwale Goodluck being replaced with Phuthuma Nhleko, Ferdi Moolman and Amina Oyegbola as new chairman, managing director and Head of Corporate and Regulation respectively.[44]

The new management employed a diplomatic measure between the government of the Republic of South Africa and its Nigerian counterpart to ameliorate the burden of the liabilities from the fine.

This action brought about the reduction of the liability to $3.2 billion.[45][46][47]

South Africa[edit]

In September 2018, MTN announced that it will close its zero rated access to the popular social network Twitter.

See also[edit]


  1. ^"M-Cell is Now MTN Group Limited." PR Newswire: 1. 11 October 2002. ProQuest. Web. 11 November 2013 .
  2. ^Home. MTN Group. Retrieved on 15 August 2011. "Head Office South Africa" ,"14th Avenue Johannesburg 2196 South Africa"
  3. ^MTN Group Limited.

    "MTN Group Limited - Interim Results for the six months ended 30 June 2016"(PDF). Retrieved 11 December 2016.

  4. ^"MTN settles Nigeria fine & looks at listing on the Nigerian Stock Exchange".

    11 June 2016.

  5. ^Hill, Liezel; Prinsloo, Loni (24 October 2016).

    Mtn ghana launches ipo

    "MTN Says New CEO Shuter to Join Early as Data Traffic Soars". Bloomberg. Retrieved 24 October 2016.

  6. ^"Mcebisi Jonas officially begins new role as MTN board chair".


    Allianz vision variable annuity investment options

    18 December 2019. Retrieved 29 December 2019.

  7. ^Chihota, Tawanda (2 May 2006). "MTN offers to acquire Investcom for US$5.5 billion".

    MTN to Launch an Initial Public Offering (IPO) – An Investment Advice

    Arabian Business. Retrieved 7 December 2018.

  8. ^"Annual Results for 2018 - Data Sheet". MTN Group. Retrieved 30 July 2019.
  9. ^"Bharti Airtel-MTN $ 24 billion deal called off". The Economic Times. 1 October 2009. Retrieved 6 September 2017.
  10. ^Lakshman, Nandini (27 May 2008).

    Inurl forum forex waar komen spikes vandaan

    "Exit Bharti, Enter Reliance in MTN Tango". Bloomberg. Retrieved 7 December 2018.

  11. ^"India's Reliance Communications plans merger with MTN". The Times Online.

    Retrieved 22 September 2013.

  12. ^"MTN buys Verizon South Africa". TeleGeography. 25 June 2008. Retrieved 22 September 2013.
  13. ^"MTN completes purchase of Verizon Business" (Press release).
  14. ^"MTN Business and Afrihost in ground-breaking partnership". Retrieved 22 September 2013.
  15. ^"Company Announcement: MTN Business set to drive innovation into the Business World".

    Engineering News. 21 November 2012. Retrieved 22 September 2013.

  16. ^Maylie, Devon (28 November 2012). "Shanduka Group Buys Stake in MTN Nigeria". Wall Street Journal. Retrieved 7 December 2018.
  17. ^"All you need to know about MTN's IPO". Retrieved 24 June 2018.
  18. ^"How to buy MTN Ghana Share (Using MTN Mobile Money)".

    Forex new york session time best movement Retrieved 27 June 2018.

  19. ^
  20. ^
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  24. ^
  25. ^
  26. ^
  27. ^
  28. ^
  29. ^
  30. ^
  31. ^
  32. ^Toby Shapshak.

    "MTN Launches 'World-First' Airtime Top-Up Through WhatsApp". Forbes. Retrieved 26 March 2019.

  33. ^Bowker, John (16 July 2018). "MTN Sells Cyprus Unit to Monaco Telecom as Pruning Starts". Bloomberg.
  34. ^Reporter, Staff (20 June 2019).

    Mtn ghana launches ipo

    "MTN rebrands as epic". Cyprus Mail. Retrieved 1 January 2020.

  35. ^"Cyprus welcomes epic". epic Cyprus. Retrieved 1 January 2020.
  36. ^"".

    MTN Ghana launches IPO

    18 March 2010. Retrieved 22 September 2013.

  37. ^"U.S. Lobby Group Seeks MTN Pullout From Iran". The Wall Street Journal. 27 January 2012. Retrieved 23 March 2012.
  38. ^Paivar, Amir.

    "Iran mobile operator Irancell 'secures US technology'". BBC news. Retrieved 6 June 2012.

  39. ^"Turkcell withdraws U.S. lawsuit against MTN Group".

    MTN Ghana is the first telco to launch an IPO on the Ghana Stock Exchange - CEO

    Reuters. 1 May 2013.

  40. ^[1]Archived 2 July 2014 at the Wayback Machine
  41. ^"MTN Group Limited Integrated Report: Year Ending 31 December 2013"(PDF).

    Mtn ghana launches ipo Archived from the original(PDF) on 15 February 2015. Retrieved 12 November 2015.

  42. ^Adeyemi Adepetun. "MTN in talks with NCC over N1.04tr fine on telecoms firm".

    Guardian Newspaper. Retrieved 27 December 2015.

  43. ^"MTN CEO Dabengwa Resigns After $5.2bn Nigeria Fine". Thisday Live. Retrieved 28 December 2015.[permanent dead link]
  44. ^Tonye Bakare.

    "MTN Nigeria CEO resigns as FG slashes fine to N674b". Guardian Newspaper. Retrieved 27 December 2015.

  45. ^Emma Okonji. "MTN Shares Plummet for Second Day on NCC Fine".

    Africa’s largest telecoms operator is betting on mobile money for a historic Ghana IPO

    THIS DAY LIVE. Archived from the original on 30 October 2015. Retrieved 26 December 2015.

  46. ^"MTN seeks to reduce $5.2bn Nigerian fine". bbc news.

    MTN launches mobile money based IPO in Ghana

    Retrieved 27 December 2015.

  47. ^Adeyemi Adepetun. "MTN claims N10b expenses on SIM registration". Guardian Newspaper.

    Mtn ghana launches ipo

    Retrieved 27 December 2015.

External links[edit]

Wikimedia Commons has media related to MTN Group.
MTN mobile shop in South Africa
MTN Nigeria Building, Lagos, Nigeria