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MTN Group Ltd (MTNJ.J)

MTNJ.J on Johannesburg Stock Exchange

26 Aug 2016
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22.00c (+0.18%)
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Latest Key Developments (Source: Significant Developments)

MTN Group says EBITDA margin remains under pressure
Wednesday, 25 May 2016 02:58am EDT 

MTN Group Ltd : As at 30 April 2016, group increased its subscriber base by approximately 1% to 230.3 million year-on-year (yoy) . Organic revenue increased marginally by 1%, impacted by lower revenue growth in mtn nigeria, mtn uganda and mtn cameroon. . Group's earnings before interest, tax, depreciation and amortisation (EBITDA) margin remains under pressure . Q1 reported group revenue increased by 15% yoy supported by a 21% decline in average rand exchange rate . Expect group's performance to be impacted by weak macro environment in key markets as well as by tough competition. .Following partial removal of sanctions in iran, we expect to see an opportunity to expand services and more appetite for growth in this market.  Full Article

MTN Group Ltd - Nigeria to enforce Dec. 31 deadline for $3.9 bln MTN penalty - Bloomberg - Reuters
Tuesday, 22 Dec 2015 07:05pm EST 

MTN Group Ltd:Nigeria will enforce a Dec. 31 deadline for MTN Group Ltd. to pay a $3.9 billion fine even after Africa’s biggest wireless operator said it would challenge the penalty in a Lagos court, according to a spokesman for the communications ministry - Bloomberg.“MTN has the right to seek the court’s interpretation if it feels unsatisfied with the action of the regulator but nothing would stop the government action on the fine,” Victor Oluwadamilare, the spokesman for Communications Minister Adebayo Shittu - Bloomberg.Nigeria won’t consider an extension to the deadline, he said - Bloomberg.The Nigerian communications regulator imposed the penalty on MTN for failing to meet a deadline to disconnect 5.1 million unregistered subscribers as security agencies seek to fight crime in a country with poor identity records. - Bloomberg.The initial fine of $5.2 billion was reduced by 25 percent earlier this month following talks with the regulator led by MTN Chairman Phuthuma Nhleko. MTN has said it continues to engage with the Nigerian authorities even as it seeks a resolution in court - Bloomberg.Oluwadamilare declined to comment on what will happen if MTN misses the deadline, although Lagos-based newspaper Vanguard cited Communications Minister Shittu as saying another fine could be imposed - Bloomberg.  Full Article

MTN Group Ltd - Ugandan court orders MTN to pay $622,000 over contractual dispute - Reuters
Thursday, 19 Nov 2015 05:11am EST 

MTN Group Ltd:A court in Uganda has ordered South African telecoms giant MTN Group MTNJ.J to pay $622,000 to a smaller industry rival that accused it of using a dominant position to stifle its business - RTRS.With about 11.7 million subscribers, MTN Uganda is the east African country's leading telecoms company, in an industry of some seven players - RTRS.MTN terminated a data transmission contract with Ezeemoney, a mobile money firm, in 2013, saying it was a direct competitor - RTRS."The court found that MTN's conduct was unlawful and caused loss by unlawful means and awarded Ezeemoney general and punitive damages," said David Mpanga, a lawyer for Ezeemoney - RTRS.MTN acknowledged losing the case against Ezeemoney in a verdict delivered by Uganda's High Court on Nov. 6, but said it was appealing the verdict - RTRS.  Full Article

MTN Group Ltd - Nigeria stands by $5.2 bln fine for MTN - Reuters
Monday, 16 Nov 2015 04:52am EST 

MTN Group Ltd:Nigeria is standing by a $5.2 billion fine imposed on MTN Group for failing to disconnect unregistered SIM cards though Monday's payment deadline may lapse while a company appeal is considered, Nigeria's telecoms regulator said - RTRS.The Nigerian Communications Commission (NCC) had given Africa's biggest mobile phone group until midnight (2300 GMT) on Monday to pay the penalty that has hammered MTN's MTNJ.J stock price and prompted the resignation of its chief executive - RTRS.NCC's spokesman Tony Ojobo said in a statement on Monday that the regulator was looking into MTN's plea for leniency but the fine remained because MTN has admitted to breaking the law - RTRS."The fine remains but the appeal and other engagements with MTN may affect the payment deadline," Ojobo said - RTRS.Nigeria has been pushing operators to verify the identity of their subscribers, concerned that unregistered SIM cards were being used for criminal activity in a country also fighting an insurgency by Islamist militant group Boko Haram - RTRS.MTN, which has asked former chief executive Phuthuma Nhleko to take charge for up to six months, has been in talks with high-ranking officials from the NCC and the Nigerian presidency for the past two weeks in a bid to reduce the fine. - RTRS.  Full Article

MTN Group Ltd declares interim dividend
Wednesday, 5 Aug 2015 03:46am EDT 

MTN Group Ltd:Declared an interim dividend of 480 cents per ordinary share.Dividend payable on Aug. 31, to ordinary shareholders and recorded in books of company at close of business on Aug. 28.  Full Article

CEO of MTN Group Ltd's S.Africa business resigns as strike drags on - Reuters
Sunday, 5 Jul 2015 08:00pm EDT 

MTN Group Ltd:Says chief executive of MTN's South African unit has resigned, as a strike by 2,000 workers approaches its second month - Reuters.Says Ahmad Farroukh, who took up the post last year, will leave the company by the end of the month, MTN Group CEO Sifiso Dabengwa said in a statement circulated to the company's staff.Says the strike is now in its seventh week and it is problematic for both sides.  Full Article

Vodafone Group Plc and MTN Group Ltd agree to interconnect mobile money services
Tuesday, 21 Apr 2015 02:03am EDT 

Vodafone Group Plc and MTN Group Ltd:Says that Customers of M-Pesa and MTN Mobile Money in East Africa will be able to transfer money to each other following an agreement between Vodafone Group and MTN Group to interconnect their mobile money services.Under the terms of their Memorandum of Understanding, MTN Group and Vodafone Group will also share best practice and work together to define the rules and standards of mobile-based remittances in Africa.  Full Article

MTN Group Ltd declares final ordinary dividend
Wednesday, 4 Mar 2015 12:05am EST 

MTN Group Ltd:Declared gross year-end dividend of 800 cents per share for the period to Dec. 31, 2014.Record date is March 27.Payment date is March 30.  Full Article

MTN Group Ltd gives FY 2015 earnings guidance
Thursday, 19 Feb 2015 07:40am EST 

MTN Group Ltd:Expects FY 2014 headline earnings per share to increase of between 5 -15 pct (equating to a range of between 1482 cents and 1623 cents).  Full Article

WorldRemit and MTN Group Ltd agree mobile money partnership
Tuesday, 20 Jan 2015 05:55am EST 

WorldRemit and MTN Group Ltd:Says they have signed a global partnership that will enable WorldRemit customers to send remittances instantly to MTN's Mobile Money customers.MTN Mobile Money is increasingly an important part of MTN's service offering, and the partnership with WorldRemit further strengthens the operator's position in cross border remittances.  Full Article

South Africa's MTN to sell $729 mln stake to black investors

JOHANNESBURG, Aug 22 South African mobile phone company MTN Group will sell shares worth 9.9 billion rand ($729 million), a 4 percent stake, to black investors to meet government quotas on black ownership.