Technology

NCC Counts Gains of MTN Listing in Capital Market

The regulatory action taken by the Nigerian Communications Commission (NCC) to facilitate the listing of MTN Nigeria on the country’s stock exchange market has continued to bring economic gains to Nigeria and Nigerians in terms of boosting market capitalisation and yielding dividends to shareholders, the Executive Vice Chairman (EVC) of the Commission, Prof. Umar Garba Danbatta, has said.

Market analysts report that MTN investors have raked in approximately N1 trillion in price appreciation and dividends since April 2020.  The listing of MTN was as a result of NCC’s effective regulatory action taken during the mobile network operator’s fine settlement agreement in 2016, which compelled the telco to, among other things, list on the Nigerian Stock Exchange (NSE).

The listing was one of the outcomes of the NCC’s stringent regulatory posture, which served as tonic for other telcos such as Airtel to follow the same direction. 

As the country’s independent telecoms regulatory authority, the NCC, working with the Central Bank of Nigeria (CBN), facilitated the landmark listing of the country’s largest telecommunications operator on the bourse.

“This is in line with its mandate to promote investment, create a level-playing field for all licensees, ensure compliance to existing telecoms laws and facilitate delivery of top-notch quality of service (QoS) to consumers,” said the Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta.

According to Danbatta, through this proactive regulation and timely intervention by the NCC, which lead to the listing of MTN on the NSE, a new vista of opportunity has been created in the history of telecommunications industry in Nigeria.

“That important regulatory action enabled Nigerians, consistent with the Nigerian Communications Act (NCA) 2003, to partly, own, manage and control MTN. This bold and courageous regulatory action is now transforming lives and boosting the economy,” the EVC stated.

Danbatta also stated that the listing has helped to translate into action, an important objective of the Commission, which is to promote local investment and ownership in the telecom sector.

“With MTN shares available in the capital market, it is expected that Nigerians will buy shares and by purchasing the shares of MTN, they will be financially empowered and be socially transformed,” he said.

Stating that telecoms is a capital-intensive industry that requires continuous investment, Danbatta said the listing will enable the telecoms companies to raise capital for the expansion of their networks.

“Also, one of the benefits of listing on the NSE is that telcos have enormous opportunity for raising more capital for network expansion, which will, in turn, bring about improvement in the quality of service delivery and quality of experience for telecom consumers,” he said.

The EVC further stated that, “today, the capital market regulator and shareholder bodies have commended the effort of the NCC in making the capital market more resilient through the Commission’s regulatory action in facilitating telcos listing.”

He noted that the listing in the stock exchange will promote liquidity amongst operators, enhance their value as well as promote transparency.

“The Commission is committed, through its regulatory policies and actions, to creating the right environment to attract both Foreign Direct Investment (FDIs) and local investment into the telecom industry for increased economic prosperity for Nigerians,” the EVC said.

Leave a Comment

Your email address will not be published.

You may also like

Business Economy Finance Fintech

Fintechs should develop products that address the exact needs of their customers (By Mike Cook)

post-image

All around the world businesses are pulling out the stops to achieve growth in what can best be described as challenging economic conditions. Africa is no exception. The continent has long been recognised for its immense potential, and as such businesses across sectors are investing heavily into the continent. Advancements in technology make serving the unbanked and underserved populations in Africa more viable than ever before. However, that does not mean growth comes easily. It is a hyper competitive and complex environment where genuinely understanding your customer is key to growth.

Even with this textbook understanding, there is a strong urge to take the “build it and they will come” approach because we can get caught up in our own technology and view problems from our frame of reference while ignoring the customer. This is typified in the African market where we see multiple shiny apps being dropped across markets…

Read More
Business Technology Technology Trends

Canon’s SELPHY series of compact photo printers celebrates 20th anniversary

post-image

Canon Inc. (www.Canon-CNA.com) announced today that its SELPHY series of compact photo printers, which enables users to easily print high-quality photos and continues to offer a wide range of ways to enjoy photo printing, will celebrate its 20th  anniversary in 2024.

The SELPHY series was created in 2004 in response to heightened demand for photo prints due to the rapid spread of digital cameras in the early 2000s. As of April 2024, the SELPHY series has launched 31 products1 and sold a combined total of more than 17 million units2 worldwide.

The name SELPHY, a combination of “self” and “photography,” was given to convey Canon’s hope that easily printing photos on one’s own would allow people to experience new ways of enjoying photography. SELPHY printers produce photo prints that possess both high-quality and excellent durability through the adoption of a dye sublimation printing process, in which ink…

Read More
Business Economy

NASENI, NIPSS To Collaborate On Enhancing Digital Economy, Job Creation* 

post-image
The National Agency for Science and Engineering Infrastructure (NASENI) and the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Plateau State are set to collaborate on enhancing Nigeria’s digital economy footprints, empowering and creating jobs for millions of youths.
The Executive Vice Chairman and Chief Executive Officer (EVC/CEO),  NASENI, Mr. Khalil Suleiman Halilu, disclosed this while welcoming participants of the Senior Executive Course (SEC) 46 of NIPSS who were at the Agency on Strategic Institution Study tour on Monday, 15th April, 2024.
Halilu said he was elated that NASENI was identified as one of the federal government’s agencies that have all it takes to empower and create job opportunities for Nigerian youths, and make the country self-reliant in
manufacturing and digital economy.
Halilu said strengthening the capacity of key stakeholders in Nigeria to access, adopt and scale up technologies is an…

Read More
Business Education

Nugi Technologies CEO, Austin Ugi, Champions Education Access Across Nigeria and Beyond

post-image

 

Austin Ugi, CEO of Nugi Technologies, asserts that education is the beacon of hope that can illuminate the future of our continent. As a corporate responsibility, Nugi Technologies remains committed to extending educational opportunities to children nationwide.

“I am passionate about ensuring every out-of-school child can return to the classroom,” expressed Austin Ugi. “Last month, with the incredible support of my tight-knit community, we made it possible for 383 children to continue their education.”

Ugi emphasized that this endeavor is only the beginning, with plans to sustain these programs year-round. Collaborating with Artycare Initiative and Happy Feet For Kidz Foundation, they have already impacted over 10,000 schoolchildren by providing essential resources such as footwear, uniforms, textbooks, and covering school fees.May be an image of 1 person and beard

The driving force behind Ugi’s mission is personal. Recalling the challenges he faced…

Read More
Business Economy News Opinion Software

UGI AUGUSTINE REFLECTS ON THE IMPACT OF NUGITECH’S GROWTH JOURNEY

post-image

 

UGI AUGUSTINE, CEO of NUGITECH, a pioneering IT firm originating from Cross River and known for its widespread deployment of innovative solutions nationally and internationally, has shared insights into the company’s transformative journey.

Recalling the remarkable progress NUGITECH has achieved over the years, UGI AUGUSTINE emphasized the significance of continuous growth and learning. “Success isn’t merely measured by our accomplishments, but by our capacity to evolve, learn, and navigate towards our future goals,” remarked AUGUSTINE.

AUGUSTINE further highlighted the pivotal role of teamwork in NUGITECH’s success trajectory. “In our pursuit of excellence, collaboration has been paramount. Sustainable success necessitates the amalgamation of diverse talents, humble leadership, and a culture of mutual learning,” he noted.

Concluding on a note of gratitude, AUGUSTINE credited the unwavering dedication of NUGITECH’s team for the company’s expansion from a singular entity to a conglomerate overseeing multiple ventures. “Our team’s relentless…

Read More
Business Economy Energy

Introducing the EcoFlow RIVER 2 Pro & DELTA 2 Max: The Ultimate Energy Partners to Power Through Loadshedding

post-image

EcoFlow (https://apo-opa.co/3Q0P8ln), a leading eco-friendly energy solutions company, today launched the RIVER 2 Pro and DELTA 2 Max in South Africa. Featuring an upgraded capacity and faster charging, the RIVER 2 Pro is the best portable power station within stage 6 loadshedding. DELTA 2 Max has a UPS (Uninterrupted Power Supply) transfer time of 20ms and a capacity of 2048Wh, making it an ideal power ally for whole-home comfort.

“As loadshedding continues to grow, the EcoFlow RIVER 2 Pro and DELTA 2 Max ensure our consumers have access to a simple, flexible and reliable energy source wherever and whenever they should need it,” said Bradley Chetty, B2C Sales Director at EcoFlow South Africa. “We are proud to bring more lifestyle solutions to the market. EcoFlow is committed to making life better through meaningful innovation.”

RIVER 2 Pro, the Best Portable Power Station within Stage 6 Loadshedding

Charge Faster and…

Read More
Business Culture Economy Tourism Travels

AFRICANS SHOULD PRIORITIZE SUPPORTING INDIGENOUS ENTERPRISES

post-image

 

From childhood, we’ve been ingrained with the belief that foreign-made goods and businesses outshine our own in Africa. Consequently, “Made in Ghana” labels are rare, as even Ghanaian businesses opt for branding their products as “Made in China” or “Made in US”.

But how can our economies flourish if we neglect our own creations? Take the example of Air Peace, shaking up the Lagos-London market with competitive pricing, compelling giants like British Airways to slash fares.

Now is the time for Nigerians to rally behind Air Peace and shun foreign airlines that overcharge us. Consider the countless Nigerians flying from Lagos or Abuja to London daily—imagine the revenue they generate for foreign carriers. The same applies in Ghana; let’s envision…

Read More
Business Government International

AirPeace Faces Challenges in Competitive Lagos – London Route

post-image

 

In the bustling international air travel scene out of Nigeria, Flyairpeace, the latest entrant into the Lagos – London route, finds itself in the midst of stiff competition. This route, known for its high traffic volume, has attracted the attention of major players, unwilling to yield market share to the newcomer, especially amidst concerns over shark-infested waters.

The ongoing price war initiated by established international airlines is expected to persist, posing significant challenges for Airpeace. While the airline may lack the financial muscle to sustain such a battle, experts caution against engaging in a futile contest where victory seems improbable.

Instead, Airpeace is urged to capitalize on its unique strengths, such as offering exceptional in-flight cuisines, minimizing flight delays, providing superior customer service, facilitating hotel-to-airport transfers, and implementing localized frequent flyer promotions. These strategies could help endear the airline to Nigerian travelers along this route.

Furthermore, there are calls for government intervention…

Read More