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MTN earned N453bn in 2018 – report

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MTN

MTN Nigeria recorded N453.1 billion Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) in 2018.

The communications company also attracted additional six million subscribers to its network in the year.

The company made the disclosure in its annual report released on Thursday in Lagos.

It said that the six million subscribers brought the total number of subscribers in its network to 58 million, adding that the 2018 EBITDA represented 30.8 per cent profit growth.

MTN Nigeria also disclosed its intention to list by introduction on the Nigerian Stock Exchange in the first half of 2019.

The report showed a service revenue increase by 17.2 per cent, data revenue increase by 39.3 per cent, digital revenue decrease by 58.1 per cent and Fintech revenue increase by 32.7 per cent.

It also showed an EBITDA margin increase by 4.5 per cent to a total 43.6 per cent (excl CBN payment).

Commenting on the results, the Chief Executive Officer of MTN Nigeria, Mr Ferdi Moolman, said: “This growth was built on our sustained focus on customer centric delivery – ensuring that customers get much more value for their money.

“This included deployment of proactive interventions to improve customer experience, together with enhancement of network quality and coverage, and optimisation of our services portfolio.

“We also enabled an additional eight million people to access the possibilities that the internet provides, bringing our total data subscriber base to 44 million, of which 18.7 million use more than five megabytes per month.

“We are now even better positioned to ensure that everyone can access the benefits of a modern connected life.’’

Moolman thanked MTN Nigeria partners and regulators for their contributions.

He said that the company understood how access to  opportunities enabled by the internet could open up new industries even in the remotest areas.

The chief executive officer said that there was the need to continue to focus on delivering social innovations such as mobile electricity and financial services for all.

He said that the company would leverage on its technology to enable high-impact mobile solutions in education, health and agriculture in communities.

“MTN plans to list by introduction on the Nigerian Stock Exchange during the first half of 2019, and is looking to simplify the capital structure ahead of this listing.

“The company’s listing on the exchange will create a new telecoms asset class for investors and provide an opportunity for a wider group of Nigerians to participate in our investment story,’’ he added.

 

 

 

Judiciary

Police arraign 3 over alleged theft of MTN cable in Ekiti

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Three men on Friday appeared before an Ado-Ekiti Chief Magistrates’ Court over alleged theft of MTN cable.

The defendants-Junaid Olayinka, 39; Olatunde Ayeni, 38; and Alake Kunle, 40, are facing a one-count charge of stealing.

The prosecutor, Insp Oriyomi Akinwale, told the court that the defendants committed the offence on May 13 at about 2.p.m. at Atlas Area of Ado-Ekiti

He alleged that the defendants stole a cable valued at N500,000, property of MTN Telecommunications.

Akinwale said the offence contravened Section 390 of the Criminal Code, Laws of Ekiti State, 2012.

The prosecutor asked the court for an adjournment to enable him study the case file and present his witnesses.

The defendants, however, pleaded not guilty to the charge.

Counsel to the defendants, Mr Kayode Akinwumi, urged the court to grant the defendants bail, with a promise that they would not jump bail.

The Chief Magistrate, Mrs Olanike Adegoke, granted bail to the defendants in the sum of N200,000 with one surety each in like sum.

Adegoke adjourned the case till July 8 for hearing.

(
Edited By: Remi Koleoso/Mufutau Ojo) (NAN)

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General news

COVID-19: MTN provides customers free services to help communication- Official

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MTN Nigeria says it has provided its customers with a range of free services to help make communication easier during the COVID-19 pandemic in the country.

Its Company Secretary, Uto Ukpanah, also said the company has provided an update on the utilisation so far of its network initiatives to provide its customers and partners with connectivity.

Ukpanah said in a statement on Friday that these were in addition to the MTN’s direct contributions to support the fight against COVID-19.

He listed some of the supports to include: donations to CACOVID (N1 billion), Federal and State Governments (Communications support) and the NCDC (Devices, airtime, SMS channel and data) MTN.

According to him, as at May 15, 2020, our network has provided: more than 2 Billion free SMS sent by over 40 million subscribers.

“About 3,000 Terrabytes of free data utilised to access zero-rated health websites, and access to Ayoba, our partner messaging app;

“Over 1.7 million free money transfers by about 100,000 people using the MoMo Agent Network (offer ended May 1).

On the update, the company Chief Executive Officer, Ferdi Moolman said: “Since we began providing 300 free SMS’s per month to our subscribers more than two billion SMS have been sent by more than 44 million subscribers.

“It demonstrates the universal appeal and accessibility of SMS as a communications service.

“We are proud to have been able to reach so many people and are committed to continuing to provide this service.

“As we continue to navigate this pandemic, we are focusing our efforts on trying to ensure no one is left behind.”

Edited By: Olagoke Olatoye (NAN)

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Science & Technology

COVID-19: MTN waives charges on Cash2Cash Momo Agent money transfer services

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COVID-19: MTN waives charges on Cash2Cash Momo Agent money transfer services: The Digital Financial Services (YDFS), a subsidiary of MTN Nigeria, on Monday said it has waived user fees for Cash2Cash, a local money transfer service, offered by its MoMo Agent Network.

The Chief Executive Officer of YDFS, Usoro Usoro, said the package called,  Y’ello Hop Package,  was in  response to the escalating global Coronavirus pandemic.

The Nigeria News Agency reports that MoMo Agent is a mobile agent by Telco to provide safe and accessible money transfer services to under-banked and unbanked people across the country.

Usoro said the waiver, took effect immediately, to enable people without a bank account to send and receive money across the country at no extra cost for the next four weeks.

“During this time, all cash transfer fees will be absorbed by YDFS as one of the several new measures the company is introducing to support Nigerians as cases of COVID-19 continue to rise around the world.

“The events surrounding COVID-19 are unprecedented and will undoubtedly disrupt daily life and pose a myriad of challenges to people and businesses alike.

“With the Y’ello hope package, we are working to introduce measures that support our customers and communities, through this difficult time,” he said.

Usoro, however, said that the free Cash2Cash, allowed users to continue to make money transfers safely to help their loved ones meet financial obligations without fretting about the charges.

“To locate a MoMo Agent close to their location Customers can dial *223#,” he said.

Edited By: Chioma Ugboma/Olagoke Olatoye
(NAN)

 

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Science & Technology

COVID-19: MTN staff to start working from home Monday

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MTN Nigeria on Sunday said its team would start working from home as part of the precautionary measures to stop the spread of COVID-19

Mr Funso Aina, the telcos Senior Manager, External Relations, said in a statement that from March 23, workers are expected to perform their duties from home.

Aina said that the telcos operations would continue to run at full scale with essential staff working limited hours on-site.

“We also plan to announce the temporary closure of some of our stores.Those that remain open, will operate reduced hours and maintain strict and social distances measures.

“ The situation unfolding around the world is unlike anything we have seen in our lifetimes and is a reminder that we are all more connected than we ever know.

“To get through this, we need each other with patience, understanding, compassion, and to do the right thing for each other,” he said.

Aina noted that the company had  been closely monitoring the situation and “believe it is crucial that companies do two things, which was helping to  contain the escalating outbreak and safeguard operations  so that economies keep moving.

He said that for MTN in particular, they understood the vital role the  network   and services  play in supporting people, organisations and institutions nationwide.

“Our hearts go out to everyone impacted by COVID-19, especially those diagnosed with the virus, their family and friends, and all those whose jobs, education, and way of life have been affected.

“We have also complemented the government’s sensitisation drive, introduced rigorous cleaning measures and equipped team members with additional sanitation and safety products.

“As part of our response plan, in the coming days, we will introduce our Y’ello care package, several new measures as part of a concerted effort to support our customers.

“These include further amplifying governments sensitisation efforts, using more channels to deliver health and safety information, and suspending fees for all money transfers using our Momo Agent network,” he said.

Edited By: Wale Ojetimi
(NAN)

 

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Science & Technology

COVID-19: MTN embarks on safety steps for employees, customers

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MTN Group says it has taken series of precautionary measures to ensure continuity of services and the safety of its stakeholders, including employees, customers, communities and suppliers against spread of coronavirus.

The mobile network provider said in a statement that the precautionary measures followed the official confirmation of COVID-19 cases in some of its markets.

”So a priority is ensuring network continuity, availability of spares and equipment and the upgrading of capacity.

”We wish to assure our stakeholders that the implementation of precautionary measures will have a negligible impact on our operations.

”We need to keep the connectivity lights on for our customers at all costs.

”In our own environments we have installed thermal scanners at MTN office facilities, as an early detection method for testing body temperature and enhanced hygiene measures including hand sanitizers in all our offices.

”The implementation of a work-from-home plan for employees has also been implemented,” the statement said.

In addition, the mobile network operator said it had placed restrictions on all international travel and also reduced, wherever possible, domestic travel, for continual  monitoring of the situation.

The group, however, encouraged  employees, stakeholders and customers to remain calm and take the necessary precautions as outlined by the medical fraternity to minimise the spread of the virus.

According to the statement, ‘COVID-19 is, unquestionably, testing our society.

”We will continue to monitor the global situation closely and strictly adhere to the recommendations of relevant international authorities such as the World Health Organisation and the local departments of health.

Edited By: Wale Ojetimi
(NAN)

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Science & Technology

Eungu fair: MTN upgrades 2G tech equipment in rural areas

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MTN Nigeria, a broadband telecommunication company, says it has started upgrading its 2G tech equipment in rural areas to 4G technology to ensure quality reception and service in the hinterlands.

The General Manager (East) of the company, Mr Innocent Entonu, said this in an address on Wednesday in Enugu at MTN Day at the ongoing 31stEnugu  International Trade Fair.

Entonu said the company had also started upgrading most of its customers’ sim-lines to be 4G compliant in order to bring them at par with  latest development in the telecom industry.

“We have started upgrading all 2G facilities earlier installed in some areas in the hinterland and rural areas to conform to 4G technology.

“This process will be completed within the next six months or so in the entire east, which comprises the Southeast and Southsouth areas.

“The essence is to improve our esteemed customers’ experience in using 4G, which is very fast and accommodates more usage platforms such as voice, data, audio, video and hybird,’’ he said.

The general manager urged its esteemed customers to make use of its website to reach out to the company’s customers/help-desk and sort out their challenges.

“We have created a customer’s interactive website meant to solve their challenges,’’ he said.

Entonu also revealed that the telecom company set aside one per cent of its profit after tax for its direct yearly Community Social Responsibility Project.

Earlier, the Director-General of the Chamber, Mr Nduka Awuregu, lauded the top quality products and services of MTN.

“I sincerely believe that, as a quality and relatively cheap products and services company you will make mega-sales here,’’ Awuregu said.

NAN reports that the fair, which was organised by the Enugu Chambers of Commerce, started on March 13 and would end on March 23.

The theme of the trade fair is: “Advancing the Growth of SMEs through Corporate Governance for Rapid Economic Development’’.

Edited By: Chioma Ugboma/Donald Ugwu
(NAN)

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Judiciary

Copyright infringement: MTN closes case over N300m suit

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Telecommunication giant, MTN on Tuesday closed its case over an alleged N300m copyright infringement suit involving an Abuja-based musician, Liberty Williams.

Nkeakam Abhulimen, a staff of MTN and Chris Anusa, a staff of Defcom Technologies, both appeared as witnesses for MTN at the Federal High Court, Abuja before Justice Ifeoma Ojukwu to testify in the suit.

It would be recalled that the plaintiff, Williams with the stage name, “Pupayannis”, had asked the court to declare that MTN’s sale of the song he composed as ring tone was an infringement.

Williams stated that this was done without his consent, which according to him, constituted an infringement on his copyright.

He, however sued the MTN Chief Executive Officer, Ferdi Moolman, No Where to Run Entertainment Ltd. and its Chairman, Emmanuel Abanah, as co-defendants.

The plaintiff alleged that MTN, in collaboration with No Where to Run Entertainment Company, offered his song ‘Love is Everything’ to its millions of subscribers as ring tone and caller tune without his consent.

However, Abhulimen said she was not privy to the agreement between MTN and Defcom Technologies which was hired by the recording label to provide content.

Also, Anusa claimed that it was only Defcom Technologies lawyers that knew the details of the agreement, adding that he was not a party to the agreement.

Anusa also admitted that he had never met the plaintiff that was alleging copyright infringement in person.

Counsel to MTN, Mabruk Kunmi-Olayiwola, however told the court that the Telecommunication giant would be closing its case after listening to the two witnesses.

In a statement of claim, the plaintiff said he wrote, composed and financed the production of the song in July 2013, three months before he entered into an agreement with No Where to Run Entertainment Ltd.

He contended that he did not, at any time, surrender the master tape and the right of the song to the entertainment company and its chief executive.

The plaintiff prayed the court to award N200m as general damages and N100m as aggravated and punitive damages in his favour.

In the suit filed on his behalf by Felix, Igelige and associates, the MTN Chief Executive Officer, Ferdi Moolman; No Where to Run Entertainment Ltd. and its Chairman, Emmanuel Abanah were listed as co-defendants.

Justice Ojukwu adjourned the case till April 28 for continuation of defence.

Edited By: Sadiya Hamza
(NAN)

 

 

 

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Science & Technology

MTN introduces new electronic recharge service, Topit, for cleaner environment

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In a bid to get rid of paper vouchers, MTN Nigeria Communications Plc, on Wednesday in Lagos introduced its new naming convention, MTN Topit, for virtual top-up services.

The Chief Sales and Distribution Officer, Mr Adekunle Adebiyi, who made this known in Lagos, said that the communication company was supporting the Federal Government in the design to rid the environment of pollution.

“Paper pollution is a major threat we are facing; what we are doing today is to launch Topit and get Nigerians to know more about recharging without the use of paper,” Adebiyi said.

He said the new innovation was to revamp the existing product and make electronic recharge easy for subscribers.

“What we are doing today is revamping an existing product; we are in the fore-front to give Nigerians a platform as part of our continuous drive to make consumers’ live easier, brighter and better.

“We believe in a modern connected world; one in which our customers can get solutions at the snap of their fingers; this is what Topit offers our customers, retailers and trade partners,” he said.

Adebiyi said that Topit also provide efficient means of recharge for data and airtime distribution across diverse forms of electronic recharge.

He said that with improved user’s experience, it mitigate against any perceived priced distortion and eliminates the irregularities associated with recharge PINS, vouchers and cards.

“With Topit, MTN customers can buy airtime as low as one Naira and up to N3 million.

“It is also beneficial to retail partners and potential new partners as it provides ease of entry to start a recharge business, while saving cost of warehousing and inventory management,” Adebiyi said.

Edited By: Olagoke Olatoye (NAN)

 

 

 

 

 

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Economy

MTN Nigeria declares N4.97 final dividend in 2019, to invest N600bn in network

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MTN Nigeria Communications Plc has declared a final dividend of N4.97 per share for the financial year ended Dec. 31, 2019 just as it declared to invest N600 billion in network in the next three years.

Mr Ferdi Moolman, the company’s Chief Executive Officer, made this known in a statement made available to newsmen in Lagos.

Moolman said the investment would enable the company to accelerate its 4G network expansion, deepen population coverage and support the Federal Government’s broadband initiative.

He expressed excitement about the possibilities that the transition to digital presents for its business, and the growth and development of Nigeria.

Moolman stated that the company’s profit after tax in 2019 rose by 38.8 per cent to N202.1 billion, while profit before tax stood at N290.1 billion.

He said that the Mobile subscribers grew by 6.1 million to reach 64.3 million; active data users increased by 6.5 million to 25.2 million, while service revenue increased by 12.6 per cent to N1.2 trillion.

The company’s chief executive officer said the voice revenue growth remained healthy at 8.4 per cent and accounted for 72.7 per cent of service revenue.

“Our active data subscribers rose by 34.9 per cent to 25.2 million on the back of several initiatives.

“We are optimistic about the prospects for our business in 2020 and pleased with the continued momentum from H2 of 2019, and particularly Q4.

“Expanding 4G network coverage to deliver high-speed internet to more people nationwide and data revenue growth remain in focus.

“We continue to make good progress with the expansion of our super-agent network, and are confident that the expanded service offerings will position us to effectively drive broader financial inclusion, roll out the payment service bank seamlessly, once we receive a licence.

“We acknowledge the outbreak of Coronavirus worldwide and its potential impact on our supply chain.

“While we monitor unfolding developments, we are exploring multiple scenarios in a bid to mitigate the impact,” he said.

Edited By: Olagoke Olatoye

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Contact US: editor @nnn.com.ng, nnnnews247 @gmail.com

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