Author: Gugu Lourie

  MTN, Africa’s largest mobile phone operator, was concerned about inaccurate media reports that it was planning a secondary listing in Nigeria. By Staff Writer The telco said in a statement on Monday that it was concerned about reports attributed to its senior executives, purporting that MTN Group is planning to list in Nigeria. “This is grossly inaccurate. The correct comment, as expressed by the Executive Chairman, is that MTN could consider listing the local operation, MTN Nigeria, not the Group. As a result, reports that MTN is considering a secondary listing in Nigeria are misleading,” MTN said…

Subscriber disconnections and withholding of regulatory services in Nigeria is hurting MTN, Africa and Middle East biggest mobile phone operator, which reported on Thursday a 51.4% drop in 2015 full-year headline earnings per share (HEPS) to 746 cents despite a 4.1% rise in total subscribers to 233 million. HEPS is South Africa’s main profit gauge. By Gugu Lourie The move deeper into the red by the mobile phone giant was partly driven by the underperformance of its Nigerian operation – the biggest asset in the company that has more than 61.3 million customers. Nigeria is by far and away MTN’s…

ShowMax has now added AirPlay support for iPhones and iPads. This makes it possible to broadcast shows and movies direct from iOS devices to big-screen TVs. It’s the perfect solution for anyone who doesn’t have a smart TV but still wants to sit back and watch ShowMax. By Staff Writer The app now supports AirPlay, making it possible to broadcast TV shows and movies direct from iOS devices to an Apple TV, which in turn displays the content on a big-screen TV. The firm, which is owned by Naspers, said in a statement that this is part of an ongoing…

The Nigerian Ministry of Communications has confirmed the payment of R3.8 billion (50 billion Naira or $250 million) by MTN Nigeria as part payment for the $3.9 billion fine imposed by the country’s communication watchdog, the Nigerian Communications Commission (NCC), according to a media report. By Staff Writer. Last year, the NCC imposed the fine on MTN Nigeria for its failure to disconnect 5.2 million subscribers who did not register their SIM cards. On Wednesday, MTN informed investors that it has agreed a without prejudice a good faith payment of R3.8 billion (50 billion Naira or $250 million) to the Federal Government…

MTN Nigeria wins court case against Etisalat Nigeria challenging the South African-based mobile phone operator’s use of the 800 mega hertz (MHZ) spectrum following the acquisition of Visafone for undisclosed amount. By Gugu Lourie Etisalat has filed a lawsuit against MTN and Visafone to challenge the acquisition, which will enable MTN Nigeria to deploy wireless broadband services in Africa’s biggest economy. The Leadership newspaper reported on Friday that Justice Ibrahim Buba of the Federal High Court in Lagos, on Thursady, struck out a suit filed Etisalat Nigeria challenging MTN’s use of the 800 megahertz (MHZ) spectrum following the acquisition of Visafone for…

The Nigerian telecommunications watchdog, Nigerian Communications Commission (NCC), said late on Thursday that it has not yet received any payments from mobile phone operator MTN towards a $3.9 billion fine. By Staff Writer Last year, the NCC imposed the fine on MTN for its failure to disconnect 5.2 million subscribers who did not register their SIM cards. On Wednesday, MTN informed investors that it has agreed a without prejudice a good faith payment of R3.8 billion (50 billion Naira or $250 million) to the Federal Government of Nigeria on the basis that this will be applied towards a final settlement. On…

No Nigerian arrangement is permanent unless that which has been arrived at by negotiated compromise. My friend Phehello was stunned when I told him this. He paused and looked at me as if to suggest I was in urgent need of a psychiatric test  at Sterkfontein Hospital. I had no choice but to explain the thinking behind the theory. “Look Phehello,” I said. “The spirit of compromise is the fibre of the Nigerians.” I was merely quoting the words of Nigerian author, Peter Enahoro, who said “this fundamental principle is more than a habit. It is deeply rooted in the way…

MTN has agreed to pay $250 million ( R3.87 billion) to settle dispute with the Nigerian authorities over the failure by the mobile phone giant to register subscribers. The South African-based telco said it made the payments to the Federal Government of Nigeria on Wednesday and anticipate that it will be taken as a settlement to the ongoing dispute. By Gugu Lourie MTN was given a December 31 2015 deadline to pay the R59 billion ($3.9 billion) fine for its failure to disconnect 5.2 million subscribers who did not register their SIM cards. The payment deadline has expired. But the South…

MTN was under pressure again on Friday as Africa and Middle East’s largest mobile phone operator predicted on Thursday afternoon a 20% drop in headline earnings per share (HEPS) for the year to end-December 2015. MTN Zakhele, the Black Economic Empowerment (BEE) scheme of MTN listed on the JSE BEE board, was no exception as it dropped 12.7% at R65.93 by 11:35am on Friday, valuing the counter at more than R6 billion. By Gugu Lourie Shares in MTN were trading 18.5% lower at R125.31 by 11:35am, valuing the telco giant at more than R283 billion. This was after the…

MTN, which is embroiled in a R59 billion fine imposed by the Nigerian watchdog, is expected to report a 20% reduction in basic headline earnings per share (HEPS) for the full-year to end-December 2015. By Gugu Lourie HEPS – South Africa’s main profit gauge – at MTN, Africa and Middle East biggest mobile phone operator, have shrank on the back of under-performance of its biggest operation, MTN Nigeria. “The negative earnings performance has been impacted by a number of factors with the operational underperformance in Nigeria, resulting from the subscriber disconnections and the withholding of regulatory services, being a key…