MTC aims to complete listing by October

2 Feb 2021

Namibia’s Minister of Public Enterprises, Leon Jooste, has confirmed that the government is aiming to list state-owned operator MTC on the Namibian Stock Exchange by the end of October this year, despite the company being given an extension until September 2022 to complete the IPO, reports Agence Ecofin. MTC, Namibia’s largest mobile network operator (MNO) by subscribers, revealed in its 2020 annual report published last month that it had been granted permission by the Communications Regulatory Authority of Namibia (CRAN) to delay the listing until 5 September 2022 at the latest, in order to ‘ensure an acceptable return for our current shareholder’. The company’s board of directors indicated the pandemic had impacted financial markets, reduced investor appetite and stalled the local and cross-border investor engagement programme, thwarting its original plan to complete the process by July 2020.

Namibia, Mobile Telecommunications (MTC)