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In a significant turn of events, MTN Nigeria Plc has reported a staggering loss before tax amounting to N177.8 billion, marking a stark contrast to the pre-tax profit of N518.8 billion recorded a year earlier. This substantial loss has resulted in a complete wipe-out of shareholders’ funds, presenting unprecedented challenges for the telecom giant. Tap the link in our bio to read more. #MTNNigeria #ForexLosses #ShareholdersFunds #FinancialNews #StockMarket #NigeriaBusiness #CorporateFinance #FinancialLoss #ShareholderValue #EconomicUpdate #NigeriaTelecom #FinancialPerformance #InvestmentNews #BusinessAnalysis #markettrends

MTN Nigeria, the country’s largest mobile network operator, has raised ₦75 billion through its Commercial Paper Issuance Programme to support operations and short-term financial needs. This successful issuance marks the completion of the Series 11 and 12 under its ₦250 billion program, with the offering oversubscribed by 150%, reaching ₦75.18 billion, surpassing the initial target of ₦50 billion. The oversubscription reflects strong investor confidence despite the company reporting a ₦514.9 billion loss after tax for the nine months ending September 30, 2024, due to naira devaluation and net foreign exchange losses of ₦904.9 billion. MTN Nigeria, however, achieved a 33.6% year-on-year growth in service revenue, driven by a 52.3% rise in data demand and an 18% increase in fintech services. The issuance attracted banks, insurance companies, and asset managers, while pension funds were excluded due to regulatory updates. #MTNNigeria #CommercialPaperIssuance #FinancialResilience #InvestorConfidence #TelecomGrowth

MTN Nigeria has announced that it will hold an extraordinary general meeting with its shareholders on how to manage the capital loss it suffered in 2023.   According to a corporate notice filed with the Nigerian Exchange Limited on Tuesday, the EGM is scheduled for later in the month in Lagos.   The EGM notice showed that it would have only one special business which is: “To consider and discuss possible measures for addressing the loss of capital by the company for the year ended December 2023.”   MTN Nigeria recorded a depletion in its retained earnings and shareholder’s fund for the year under review due to a net loss after tax of N137bn, driven by a N740bn foreign exchange loss.   Read More : https://lnkd.in/eFMyfekY   #stockmarket #stocks #investment #finance #investor #trade #wealth #stockmarketnews

MTN Nigeria 's recent financial loss has left investors feeling uncertain 😕. The company reported a significant decrease in profits, causing concern among stakeholders. Investors are closely monitoring the situation to assess the impact on their portfolios. 💼💰 The market reaction to MTN's loss has been mixed, with some investors choosing to hold onto their shares while others are considering alternative investment opportunities. This downturn serves as a reminder of the volatile nature of the stock market and the importance of diversification in investment portfolios. #MTN #investors #financialloss It is essential for investors to stay informed and adapt their strategies based on market conditions. Seeking advice from financial experts and conducting thorough research can help mitigate risks during times of uncertainty. The key is to remain patient and focused on long-term investment goals. 💡💼 As MTN works to address the challenges that led to the loss, investors are hopeful for a turnaround in the company's financial performance. #investmentstrategy #stayinformed

Key highlights from MTN Nigeria’s 9months financial report compared to the same period last year 33.7% increase in total revenue 238% increase in CAPEX 95.9% increase in OPEX 3335.4% increase in loss after tax Despite the country's challenging macroeconomic pressures, MTN Nigeria sustained strong revenue growth in the first nine months of 2024. However, high inflation and interest rates, including rising FX, are roadblocks to profitability. A decade ago, the telecoms sector contributed about 7% to GDP, by Q1 2024, the sector was on track to double that and contribute about 15% to GDP. However, this momentum may be truncated if investments in the sector is not sustained i.e. the magnitude of losses in the sector is a significant deterrent investment. The NCC needs to support the sector with policies that guarantee a path to profitability even as the telcos internally strategize in navigating the challenging macroeconomic conditions. The industry requires a tariff increase.

MTN Nigeria Raises ₦72.1bn In Oversubscribed Commercial Paper Issuance MTN Nigeria Communications PLC has achieved a remarkable milestone by raising ₦72.18 billion through its series 13 and 14 commercial paper (CP) issuance, surpassing its initial ₦50 billion target by an impressive 144%.  Under its ₦250 billion CP Issuance Programme, the issuance offered yields of 27.50% (181-day tenor) and 29.00% (265-day tenor), drawing diverse investor participation.  CEO Karl Toriola commented: “Achieving 144 percent subscription amidst challenging macroeconomic conditions highlights the strength of our financial stability, brand, and market leadership.”  Proceeds will drive MTN’s efforts in improving operational efficiency, expanding critical infrastructure, and meeting the growing demand for telecommunications services across Nigeria.  This highlights MTN’s resilience and commitment to delivering growth-driven initiatives in a challenging economic landscape.  Learn more: https://lnkd.in/grCTQZUC #MTNNigeria #Telecommunications #InvestorConfidence #FinancialMilestones #GrowthInitiatives 

MTN Group’s Q1 results show a resilient performance in a challenging macro, marked by high inflation and continued currency devaluation in some key markets as well as the impact of global geopolitical tensions. Despite the macro headwinds, the business again demonstrated its resilience with solid operational momentum from key markets like MTN South Africa, MTN Nigeria, MTN Ghana and MTN Uganda. In the three months to end-March 2024, MTN Group service revenue increased by 11.1% in constant currency terms. The medium- to longer-term structural growth opportunities for data adoption and financial inclusion remain strong, and we remain focused on our strategy execution to deliver on our medium-term guidance. See: https://bit.ly/4dEgec8 #DoingGoodTogether

Comprehensive Review of MTN Nigeria Q1, Q2, and Q3 Financial Performance and Investment Outlook https://lnkd.in/dvC7puiV

Reminder to Mr Ayota Patrick, Managing Director NSSF! Please respond to the letters my lawyers wrote to you demanding access to my invalidity benefits so that I can explore treatment options in or out of country. It is abundantly clear your doctors at Nelson Medical Specialists & The Surgery in Naguru failed to do tests and ascertain answers to crucial questions about my chronic back pain. Misdiagnoses have consequences. You don't get it! I was shocked to hear that they reported to you that I'm not sick, and you believed them without seeking a second opinion. Should this be considered to be an isolated incident caused by human error or is it business as usual? Don't we deserve better? Why should I struggle paying hospital bills out of pocket for a life threatening condition when I have hundreds of millions of Uganda shillingis stashed in my NSSF savings account? Do you think everyone is entitled to medical evacuation overseas at the expense of taxpayers?

#Dabanews | 𝗧𝗵𝗲 𝗹𝗮𝘁𝗲𝘀𝘁 𝗻𝗲𝘄𝘀 𝗳𝗿𝗼𝗺 𝗗𝗮𝗯𝗮 𝗶𝗻 𝗽𝗶𝗰𝘁𝘂𝗿𝗲𝘀 : 1- Senegal's dollar bonds saw a decline in performance in the emerging-market credit sector due to speculations surrounding the potential victory of an opposition candidate in the presidential election. 2- MTN Group, Africa's largest telecom operator, saw a 72.3% profit decline due to sharp devaluation of the Nigerian naira impacting MTN Nigeria. Headline earnings per share for MTN dropped to 315 cents from 1,137 cents, with adjusted earnings per share down by 9.5%. 3- Telkom, South Africa's third-largest mobile network operator, agrees to sell tower and mast assets to TowerBidco for $356 million. Sale aligns with Telkom's strategy to divest non-core assets and focus on enhancing core operations, boosting value. Read all articles here: https://lnkd.in/eWvGKjkH #DabaFinance #business #Finance #Africa #Senegal #Mtn #News #Investment #investinginafrica #AfricaFinance #InvestInAfrica #AfricanEconomy #FintechAfrica #AfricanInvestment #SustainableFinanceAfrica #EconomicGrowthAfrica #AfricanEntrepreneurs #FinancialInclusionAfrica #AfricanMarkets #AfricaRising #InnovationInAfrica #StartupAfrica #AfricanBanking #DigitalFinanceAfrica #VentureCapitalAfrica #AfricanEconomicDevelopment #FinanceForDevelopment #AfricanBusinessOpportunities #EmergingMarketsAfrica