President Yoweri Museveni recently said telecom firm MTN should sell shares on the local stock exchange so that the bulk of the money it earns creates wealth for Ugandans, Charles Nsamba writes.
But something changed since 2015 as the company faced multitude of accusations that seem not to be coming to an end soon – ranging from being unable to protect its mobile money customers from fraud to allegedly undermining national security.
The Chief Executive Officer, Enterprise Stockbrokers, Mr Rotimi Fakayejo, said this meant MTN Nigerian would approach the NSE with its existing shareholders and gradually introduce the shares to the public.
It is surprising this rarely happens when there are too many issues to be unhappy about — dividend cuts, lower profits, short-term incentives, diluting share placements and so on.
In a fresh announcement made on Thursday, January 31, NIC noted its directors had met and agreed to go ahead with the proposed merger with CBA upon fulfillment of all the necessary requirements and conditions.
According to them, the decline intensified immediately the news about the crisis-ridden ward congresses broke out since May 2018, after a January rise triggered strong anticipations amid improving macro-economic indicators in domestic and global e...
During the same period, investors in NYSE Arca poured $153 million into the iShares MSCI South Africa ETF, the biggest inflows since October 2007, according to data compiled by Bloomberg.
According to TMT Finance, Africa Telecom, Media and Technology (TMT) infrastructure, Initial Public Offering (IPO), Mergers and Acquisitions (M&A) fundraising in Africa are expected to continue growing due to increasing dealflow across the region ...
INTERNATIONAL – Sony Corp announced its first-ever major share buyback on Friday, worth 100 billion yen ($910 million), helping its stock recover from a hammering days earlier when investors freaked over lackluster earnings.
In July 2018, the government adopted the option of taxing a deemed direct sale by a resident entity where an offshore indirect disposal has occurred.
Banks, however, were expensive and did not extend services deep into rural areas, on top of their products, especially loans, being typically not suited for the poor or people with unpredictable earning cycles.
The Securities and Exchange Commission (SEC), has sealed off the premises of Dantata Success and Profitable Company, Kano, for engaging in illegal capital market activities.
NIC and CBA Thursday also said that the unified bank would be listed on the NSE, ending the earlier uncertainty over whether it would go private or remain on the bourse.
According to the Sunday Times article under the headline “Survé’s R4.3bn PIC piggy bank” the former executives Kevin Hardy and Siphiwe Nodwele were very aggrieved that they had to report to AYO Technology chief investment officer Abdul Malick Salie.
Bloomberg reports that Jumia’s largest shareholder, MTN Group, is planning to raise as much as $600 million from selling its shares through the IPO, said one of the people who asked not to be identified, as the information isn’t public.
A submission had been made to FGN during the Inter-ministerial Committee meeting in 2017, to consider issuance of Bond through the Debt Management Office (DMO) to fund these arrears as alternative to budgetary allocations.
DURBAN – Corporate real estate investment continues to gravitate towards gateway cities, according to recent research by JLL released during the World Economic Forum in Davos, Switzerland.
The NSE’s improved performance was recorded after the index had suffered mightily in 2015 and 2016 as low oil prices, militant attacks, and currency troubles and ebola hit investors’ sentiment.
According to Bloomberg, Jumia’s largest shareholder MTN Group Ltd. is planning to raise as much as $600 million from selling its shares through the IPO, said one of the people, who asked not to be identified as the information isn’t public.
A market research firm, Ovum, had predicted that there would be a drop in spending on traditional communication services offered by the incumbent telcos by 36 per cent in the next ten years.
Lyft and Uber, the US digital ride hailing cabs, recently filed their papers to list on the stock exchange.