MTN Group looking to trim MTN Nigeria shareholding to 65%

14 Mar 2022

African regional mobile carrier MTN Group has reiterated its commitment to its business in Nigeria, although it has said that, as part of efforts to further broaden the local shareholder base, it aims to reduces its shareholding over the medium term from 75.6% to approximately 65%.

Last week, the South African group issued a press release noting that it is committed to supporting a ‘bi-national conference for businesses operating in South Africa and Nigeria during the first visit to its South African headquarters of the chairman of MTN Nigeria, the Group’s biggest operating company’.

MTN Nigeria Chairman Ernest Ndukwe said the subsidiary was committed to the country’s socioeconomic development: ‘MTN Nigeria believes that we should not only provide a service to customers, but also deepen connectivity access as well as drive financial inclusion. To this end, for 2022 MTN Nigeria intends to ensure the connectivity of an additional 2,000 rural communities and has secured 100MHz of 3500MHz spectrum to enable Nigeria’s move to 5G.’

Nigeria, South Africa, MTN Group, MTN Nigeria