Category: Media releases
MTN has announced its trading update for the year ended 31 December 2018.
MTN expects to report an almost doubling in earnings with growth in full year headline earnings per share forecast at between 80% and 90%.
MTN further noted that headline earnings per share were negatively impacted by a number of once-off and non-cash items totaling approximately 220 cents.
MTN is encouraged that post the resolution with the Central Bank of Nigeria MTN Nigeria has resumed dividend payments to its shareholders.
“We are encouraged by the progress made and we are looking forward to sharing our full results on the 7 March 2019.” said Rob Shuter, MTN Group President and CEO. – Issued by MTN Group Corporate Affairs
About the MTN Group
Launched in 1994, the MTN Group is a leading emerging market operator, connecting more than 200 million subscribers in 21 countries in Africa and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN”. MTN is pursuing its BRIGHT strategy with a major focus on growth in its data, financial services and digital businesses.
MTN Irancell, an associate company of MTN Group is pleased to announce the appointment of Dr. Bijan Abbasi Arand as its new Chief Executive Officer (CEO).
Dr. Abbasi holds a Post-Doctoral degree in Communication from Tarbiat Modares University where he is currently an assistant professor. He is one of the leading telecommunications experts in Iran and brings decades of experience in both the academic and commercial sectors.
He replaces Mr. Alireza Ghalambor Dezfouli who will take a well-deserved retirement having served as the CEO of MTN Irancell since its inception in 2005. Mr. Dezfouli has played an integral role in building Irancell into a major business serving more than 40 million customers and becoming the largest data operator in Iran.
MTN Group thanks Mr. Dezfouli for his years of service and congratulates Dr Abbasi on his new role.
– Issued by MTN Group Corporate Affairs
About the MTN Group
Launched in 1994, the MTN Group is a leading emerging market operator, connecting subscribers in 21 countries in Africa and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN”. As of 30 September 2018, MTN recorded 225,4 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Ivory Coast, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo-Brazzaville), Rwanda, South Africa, Sudan, South Sudan, Eswatini, Syria, Uganda, Yemen and Zambia.
MTN Group’s newly acquired music streaming entity, Simfy Africa, has been given a welcome boost with the appointment of Oyebowale Akideinde as Head of Over the Top (OTT) Music Services. His appointment, effective 1 February 2019, will enhance the company’s digital music streaming services to its customers across Africa and the Middle East.
Oyebowale joins MTN from Boomplay Music where he served as the Regional Director for West Africa. His career spans over 17 years primarily in consumer goods, e-business, financial, media and digital sectors. He has also worked in IT, project management, strategy, product and business development, and marketing.
He holds an MSc in Business Information Systems from the University of Hertfordshire, a BSc in Computer Science from the University of Lagos and a General Music Studies Specialist certificate from Berklee College of Music. Oyebowale has also garnered a number of industry related awards and accolades throughout his career.
Commenting on Oyebowale’s appointment, Rob Shuter, MTN Group President and CEO said, “We are very pleased about Oye’s appointment as he brings passion and knowledge of the rich media industry, this will stand him in good stead to support MTN’s expansion of OTT digital services to our customers.”
About Simfy
MTN acquired Simfy, dubbed as Africa’s leading music-streaming business, in November 2018. It boasts a broad catalogue of music and access to more than 42 million tracks; the entity has also partnered with record labels and content distribution platforms such as Warner Music, Universal Music Group and Content Connect Africa to bring subscribers a wide range of music. Shortly after the acquisition of Simfy, MTN launched MusicTime! in South Africa, a service which offers users premium trending and locally relevant music.
MTN confirms that Wim Vanhelleputte, the CEO of MTN Uganda has been deported from Uganda. MTN has not been notified of the grounds for the deportation and is working hard to establish precise reasons for the deportation.
We are understandably concerned about these developments and are engaging with the authorities to seek understanding that would lead us to resolving this matter.
To ensure business continuity, we have appointed Mr Gordian Kyomukama, currently Chief Technology Officer, as Acting Chief Executive. Our focus continues to be on delivering the best quality products and services to our customers.
MTN Uganda is fully committed to respecting and operating within the laws of the country.
Johannesburg – MTN confirms that three senior managers have been deported from Uganda. MTN Uganda has not been officially notified of the grounds for these arrests and deportations and is trying to establish the precise reasons for the deportations.
We are understandably concerned about these developments and the wellbeing of all our employees.
MTN Uganda is fully committed to respecting and operating within the laws of the country.
Notes to the editor:
On Saturday, 19 January 2019, the MTN Uganda Chief Marketing Officer, Olivier Prentout, was arrested by police at Entebbe airport upon arrival from a business trip abroad.
On the morning of Monday 21 January 2019, the MTN Uganda Head of Sales and Distribution, Annie Bilenge Tabura, was arrested by unidentified security personnel upon arrival at the MTN headquarter offices, in Kololo, Kampala.
Subsequently, both Mr Prentout and Mrs Bilenge have been deported from Uganda to their home countries, France and Rwanda respectively.
On the 22 January 2019, Elza Muzzolini, Head of Mobile Financial Services was also deported from Uganda.
– Issued by MTN Group Regulatory and Corporate Affairs
MTN Group CEO Rob Shuter to speak on investing in digital for inclusive growth in the 4th Industrial Revolution at WEF, Davos 2019
Johannesburg – MTN is participating in the World Economic Forum’s Annual Meetings taking place from 22—25 January 2019 in Davos-Klosters, Switzerland. This highly anticipated yearly gathering of the world’s top leaders from politics, business, civil society and academia, typically recaps major developments on the global landscape and sets the agenda for impactful conversations in all sectors. The WEF Davos 2019 theme is Globalisation 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution.
Rob Shuter, MTN Group CEO, will contribute to a series of high-level panel topics, including the establishment of a single African market under the Continental Free Trade Area (CFTA) agreement and accelerating investment to support universal access to broadband. In addition, MTN will elaborate on thoughts about how the company is working towards reducing the digital divide and increasing financial inclusion.
With 220 million customers across 21 countries, MTN is one of the largest emerging market telecommunications groups in the world. MTN is widely recognised as a private sector thought leader on how the private sector can provide winnable solutions that will promote low-cost digital services for all and incentivise investment to achieve inclusive growth by exploring alternative business models. A top priority for the company is to provide mobile financial services to 60 million MTN customers by 2020, with a strategic goal of doubling broadband connectivity by 2021, and universal service by 2030.
Mr. Shuter said: “With the youthful population in Africa being born digital, and mobile devices and networks being at the heart of the digital revolution on our continent, the 4th Industrial Revolution gives the continent an opportunity to leverage our assets to leapfrog development and economic growth. We must invest in the future and be prepared. MTN understands that investing in digital does not only make financial sense, it will be the life blood that sustains us all as we move towards the 4th Industrial Revolution.”
WEF Davos 2019 is premised on the need to address global uncertainty, international economic and political tensions. The agenda will cover several topical areas, including economic policies, human capital, industry systems, cybersecurity and institutional reform. South Africa will be represented by a sizeable delegation which will make the strong case for investing in the country as one of the world’s “Hot Emerging Market Economies” by mobilising public-private collaboration for inclusive growth and development.
– Issued by MTN Group Regulatory and Corporate Affairs
As previously communicated, the Central Bank of Nigeria has alleged improper repatriation by MTN Nigeria Communications Limited (“MTN Nigeria”) of US$8,1 billion between 2007 and 2015.
MTN Nigeria has held various engagements in order to find an equitable resolution to the matter. In particular, a series of meetings were held in Lagos with CBN officials during November 2018. At these meetings MTN Nigeria provided additional material documentation which satisfactorily clarified its remittances. The CBN upon review of the additional documentation concluded that MTN Nigeria is no longer required to reverse the historical dividend payments made to MTN Nigeria shareholders. However, the CBN maintains that the proceeds from the preference shares in MTN Nigeria’s private placement remittances of 2008 of circa USD$ 1 billion were irregular having been based on CCIs that only had an approval-in-principle, but not final regulatory approval of CBN.
The CBN instructed MTN Nigeria to implement a notional reversal of the 2008 private placement of shares in MTN Nigeria at a net cost of circa N19.2 billion – equivalent to US$52.6m (the notional reversal amount). This is on the basis that certain certificates of capital importation (CCIs) utilised in the private placement were not properly issued.
MTN Nigeria and the CBN have agreed that they will resolve the matter on the basis that MTN Nigeria will pay the notional reversal amount without admission of liability. In terms of the resolution agreement, the CBN will regularise all the CCIs issued on the investment by shareholders of MTN Nigeria of circa $402,625,419 without regard to any historical disputes relating to those CCIs, thereby bringing to a final resolution all incidental disputes arising from this matter.
MTN Nigeria relied on certain commercial banks to ensure all approvals had been obtained prior to the CCIs being issued and to ensure the CCIs were properly utilised in the private placement. MTN Nigeria will be engaging with the banks in relation to the issues dealt with in the resolution agreement.
Shareholders are advised that the legal process initiated by MTN Nigeria for injunctive relief restraining the AGF from taking further action in respect of its orders for back taxes is continuing. The AGF matter came up for initial mention before the Federal High Court of Nigeria Lagos Judicial Division on 8 November 2018 and has been adjourned to 7 February 2019. MTN Nigeria continues to maintain that its tax matters are up to date and no additional payment, as claimed by the AGF, is due, and consequently no provisions or contingent liabilities are being raised in the accounts of MTN Nigeria for the AGF back taxes claim.
As a result of the above, shareholders are no longer required to exercise caution in dealing with the Company securities.
Johannesburg – MTN Group is pleased to announce several new executive appointments, including the position of Chief Technology & Information Officer and Executive for Corporate Services & Sustainability.
Charles Molapisi has been appointed as the company’s Group Chief Technology and Information Officer, effective 1 January 2019. His appointment follows Babak Fouladi’s resignation from the company to take up another opportunity in Europe.
Charles is a seasoned professional, with more than 16 years of experience in both fixed and mobile telephony. He worked for Telkom and Liberty Life prior to joining MTN, and held various senior management positions in MTN Nigeria, including that of Chief Information Officer (CIO). His current role is that of CEO of MTN Zambia where his championing of a pro-customer positioning resulted in the company leading all competitors in customer experience metrics.
He holds a Master’s Degree in Business Leadership from the University of South Africa, a post-graduate Diploma in Business Management from the University of KwaZulu-Natal and a Bachelor of Commerce Degree from the University of the Witwatersrand. Additionally, he has completed courses on strategy and talent with Harvard Business School, Columbia Business School and the Institute for Management Development in Switzerland.
In light of Charles’s move to MTN Group, former MTN Cyprus CEO, Philip van Dalsen, has been appointed MTN Zambia CEO. Philip will also take up his new role on 1 January 2019.
Nikos Angelopoulos recently joined MTN as Group CIO, accountable for Information Technology Design and Delivery. In his role, he is responsible for managing and maintaining the standard IT architecture across the Group, and, in line with the strategy, ensure that the company leads innovation and customer experience.
Nikos has 25 years of experience in management consulting and working for telecommunications service providers. He started his career with Accenture in the UK where he spent 15 years helping clients in different industries to start their digital journeys. His first engagements were in the financial services industry where he worked on the digital transformation of the London Stock Exchange. He later moved to telecommunications, working with cable operators and telcos in Europe, Asia and the United States focussing on launching digital television platforms and services. After Accenture, Nikos joined Vodafone where he held various senior management positions including CIO for Vodafone Italy and South Europe region and member of the Group IT Board. He joins MTN from UAE’s Emirates Integrated Telecommunications Company where he was the Executive Vice President for IT & Product Engineering.
Nikos holds a BSc in Physics from the University of Athens and MSc in Digital Communications and Signal Processing from Imperial College, University of London. He also has an Executive MBA from London Business School.
David Gilarranz has been appointed as the CEO for MTN Digital. He is a seasoned leader with more than 28 years of experience in telecommunications and digital services. David spent his early career in companies such as Verizon and Convergys, in strategic planning and sales management, and later co-founded the company Cyclelogic, one of America’s early movers in the texting and mobile internet services space. David joined MTN from Millicom where he was the VP: Digital and Innovation. The recent Simfy acquisition will report directly to David as part of his portfolio.
David has completed an executive leadership programme with Stanford University Graduate School of Business, USA, and holds a Bachelor of Arts degree in Business Management from Universidad Metropolitana (Metropolitan University) in Venezuela.
Motselisi Molapo, the new executive for Group Internal Audi and Forensics will join MTN on 14 January 2019 from Liberty Holdings, where she was the Chief Audit Executive reporting to the Audit Committee. Prior to this, she held senior roles at AngloGold Ashanti and PwC. She has more than 18 years of experience in the audit environment across multiple industries, having worked in South Africa and the USA.
Motselisi is a Chartered Accountant and has a Bachelor of Commerce Honours Degree from the University of Natal and a Bachelor of Commerce, Accounting and Commercial Law Degree from Rhodes University. As Executive for Internal Audit and Forensics, Motselisi will be responsible for delivering independent third line assurance to the MTN Group Executives and Board, focussing on the adequacy and effectiveness of the MTN Group’s governance, risk management and system of internal control.
Nompilo Morafo has been appointed as Executive for Group Corporate Services and Sustainability, effective 1 February 2019. Nompilo joins MTN from LafargeHolcim, where she was the Country Director for Communications and Public Affairs. Prior to joining LafargeHolcim, she held the role of Vice President for Country Management and Public Affairs for Sasol’s International Exploration and Production. As the Executive for Corporate Services and Sustainability, Nompilo will be responsible for managing MTN’s reputation in the marketplace, through the coordination of the corporate communication, public affairs, sustainability, events and sponsorship, and Corporate Social Investment (CSI) functions across the company’s footprint.
She holds a Bachelor of Technology (BTech) Degree in Business Communication from Tshwane University of Technology, a National Diploma in Business Communication from Pretoria Technikon and a Post Graduate Diploma in Business Management from Henley Business School.
Commenting on the appointments, MTN Group President and CEO, Rob Shuter said, “Charles, Nikos, David, Motselisi and Nompilo bring valuable skills and experience to their new roles, which will stand them in good stead to lead their respective business units and support the delivery of our BRIGHT strategy.”
– Issued by MTN Group Regulatory and Corporate Affairs
MTN Group is the first African telecommunications company to join the IoT World Alliance, the leading enabler of connected IoT solutions Johannesburg – Telecommunications operator, MTN Group is proud to announce that it is the first African telecommunications company to join the IoT World Alliance. IoT World Alliance is a collaboration of established mobile network operators which aims to adopt and run a globally connected business through well-executed and smart business decisions.
Multinational corporations planning to roll out connected devices worldwide face a multitude of hurdles. As the largest mobile operator cooperative in the world, the IoT World Alliance aims to eliminate the complexity associated with worldwide deployments of connected devices.
The Alliance provides a global solution aimed at simplifying and promoting the adoption of IoT communications worldwide. The unique solution leverages the operators’ combined global presence to the benefit of customers.
MTN Group Executive for Enterprise Business, Oliver Fortuin said “We are very proud to be a member of the Alliance, not only do we join a community of like-minded telecommunications companies committed to making global connectivity cheaper and simpler, but as MTN we believe this partnership supports our efforts to deliver on our core belief that everyone deserves the benefits of a modern connected life.”
Commenting on the partnership, IoT World Alliance Chairman Mark van den Berg said, “We are pleased to have MTN on board, and look forward to leveraging the scale and reach that MTN has in Africa and parts of the Middle East. I think it is an exciting and long overdue partnership not only for MTN Group but also for IoT World Alliance as we work towards enabling our customers’ IoT device connectivity. He added that, “we look forward to a long-lasting partnership and most importantly working together to offer customers the solutions they need when they need them”.
About the IoT World Alliance
The IoT World Alliance is a global collaboration of telecommunications providers dedicated to providing multinational customers with seamless machine-to-machine device connectivity around the world through its Single Global SIM solution. The IoT World Alliance enables businesses to deploy an international IOT solution through a single point of contact, manage a vast number of connected devices through a unified IOT platform, and leverage the reach of the world’s largest IoT partnership. Current members include KPN, NTT DOCOMO, Rogers, SingTel, Telefonica, Telenor Connexion, Telstra, Veon, and DNA.
For more information please visit: www.iotworldalliance.org
Johannesburg – Two of Africa’s largest mobile operators and mobile money providers, Orange Group and MTN Group, today announced a joint venture, Mowali (mobile wallet interoperability), to enable interoperable payments across the continent. Mowali makes it possible to send money between mobile money accounts issued by any mobile money provider, in real time and at low cost.
Mowali will immediately benefit from the reach of MTN Mobile Money and Orange Money, bringing together over 100 million mobile money accounts and mobile money operations in 22 of sub-Saharan Africa’s 46 markets. Mowali is ready to enable interoperability between digital financial service providers beyond MTN and Orange operations and markets, to support the existing 338 million mobile money accounts in Africa.
Mowali is a digital payment infrastructure that connects financial service providers and customers in one inclusive network. It functions as an industry utility, open to any mobile money provider in Africa, including banks, money transfer operators and other financial service providers.
The objective of Mowali is to increase the usage of mobile money by consumers and merchants. Mowali enables money to circulate freely between mobile money accounts from any operators in all countries. From the customer’s point of view, this means “I can pay or receive money anywhere from my mobile account regardless of my operator”. The system will unlock further innovation in the digital financial space within the continent.
For Stéphane Richard, Chairman & CEO of Orange, “by providing full interoperability between platforms, Mowali will provide an important step forward that will allow mobile money to become a universal means of payment in Africa. Increasing financial inclusion through the use of digital technology is an essential element in furthering the economic development of Africa, particularly for more isolated communities. This solution embodies Orange’s ambition to be a leading player in the digital transformation of the continent. By joining forces with another of Africa’s market leaders, MTN, we aim to accelerate the pace of this transformation in a way that will change the lives of our customers by providing them with simpler, safer and more advantageous services.”
“One of MTN’s goals is to accelerate the penetration of mobile financial services in Africa, Mowali is one such vehicle that will help us achieve that objective. Furthermore, co-operation and partnerships that help us accelerate the pace of development and overcome some of the scale, scope and complexity of challenges that society faces are key. This partnership with Orange is therefore an important step in helping us play a meaningful role in supporting the United Nations’ Sustainable Development Goals related to eliminating extreme poverty and enhancing socio-economic development in the markets we operate in and beyond. Thus giving our customers access to a bright, digital future.” said Rob Shuter, Group President and CEO of MTN.
The GSMA supports the Mowali initiative as interoperability at this scale is a key accelerator for both financial inclusion and Mobile Money usability across Africa. “Today, there are over 690 million mobile money accounts around the world. Mobile money services have become an essential, life-changing tool across Africa, providing access to safe and secure financial services but also to energy, health, education and employment opportunities. The creation of Mowali will help to further transform mobile financial services throughout the African region. It demonstrates the mobile industry’s continued leadership and commitment to driving financial inclusion and economic empowerment through industry collaboration. The GSMA is proud to support its development,” said Mats Granryd, Director General, GSMA.
“Interoperability of digital payments has been the toughest hurdle for the financial services industry to overcome, in support of financial inclusion. With Mowali, Orange and MTN deliver a solution that will enable them, and other companies, to scale digital financial services across Africa, faster, to everyone—including the poor,” said Kosta Peric, deputy director of Financial Services for the Poor, at the Bill & Melinda Gates Foundation “This is a signal that a new wave of innovation, which can help alleviate poverty and drive economic opportunity, is coming. We’re pleased to see an implementation of Mojaloop —an open source payment platform available to operators across the sector—help achieve that.”
Mojaloop is open-source software for financial services companies, government regulators, and others taking on the challenges of interoperability and financial inclusion