MTN Tests 5G Network First In Africa

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Mtn ready IPO in Nigeria for the first in next six months
Mtn ready IPO in Nigeria for the first in next six months

“We are pleased with how our business is going in Nigeria,” This statement was made by the Group CEO  of MTN Rob Shuter.

Shuter disclosed this while he was speaking that the improvement of the Nigerian Economy has induced a steady growth of the company. He also indicated that the process of the IPO is complicated and involved series of regulations, but that in six months, they would have finalized the process and announce to the general public.

He clearly stated that  “We’ve got a lot of advisers running around to be ready. We would like successful listing so we are watching the market there as well. We are moving forward with the project and we anticipate completing that in the next 6 months subject to market conditions. The Nigerian team is on top of what they need to do there.”

While responding to the accusations of unregistered sims on the network serve as means for terrorist groups in Nigeria to carry out their missions,  Shuter said that the CEOs of the Nigerian company were doing their best to get every sim registered.

“SIM registration is a really complicated area with lots of concern for civil safety and unrest. I was recently at a meeting with other CEOs in Nigeria. There is more we can all do and we are working together in a constructive way to put those together,” he said.

He also commented on the rate at which the South African company is growing and concluded that the economy of the country needs growth.  He said “There is still a very good prospect for data across the South African market so that’s a major focus for all the operators. Inflation is still running 4 – 6% so the operators are growing around 5 – 6%. We are doing okay but the South African economy desperately needs growth and if we can have more growth trajectory, it can help us all in our industry,”

Speaking on the situation in Iran, he said that the company is investing so much in the Irancell, seeing the high demand for mobile and data in the area, he also said that will be done despite the political state of the country.

He furthermore stated that “The company [Irancell] has been able to fund its own Capex program over the years. There is a big push there [and] it’s one of our strongest growing data markets. For us, it’s very much business as usual in Iran.”

He said, regards money recovery from Iran, that the company still has outstanding loans and dividends from previous years.

Shuter concluded with this, “We are working with our team there and with the authorities to repatriate those over the next 6 months or so.”

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