Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

MTN raises $140.24 million as part of divestment plan

Damilare Famuyiwa by Damilare Famuyiwa
August 8, 2019
in Business News, Company News
MTN Group Limited, MTN Nigeria to raise N100 billion through commercial paper , Will October be a month not to remember for MTN Nigeria? , Why MTN is being dragged to court by families of American soldiers ,MTN Group Ltd is confident its FY 2019 earnings will rise by 50% 

MTN's Group Chief Executive, Rob Shutter

Share on FacebookShare on TwitterShare on Linkedin

South African telco giant, MTN Group has raised about $140.24 million from its asset sales in the first half of 2019.

Making this disclosure to some newsmen in a post-earnings conference in Johannesburg, MTN’s Group Chief Executive, Rob Shuter said the fund raised was part of a divestment plan to simplify the company’s portfolio.

MTN in March this year (2019) announced a $99.5 million divestment programme that will be embarked upon over the next three years and will reduce risk and improve returns. Nairametrics understands that the telco is committed to revamping its presence in some markets alongside investments in e-commerce platforms as part of a plan to streamline the company into a focused operator in high-growth markets in the Middle East and Africa.

RelatedPosts

MTN Nigeria shareholders lose N609 billion in July on sustained sell pressure

Most valuable companies in Nigeria as of July 2022

[READ MORE: Notore announces changes in its board of directors]

With the recent change that saw Pascal Dozie leave his position as the Chairman of the Nigerian arm of the company, alongside five other Non-Executive Directors, one can say the strategic revamp the company is committed to isn’t only going to take place at the parent company.

News continues after this ad


The Non-Executive Directors whom the company retired alongside Dozie were:

  • Col. Sani Bello (Rtd) Vice-Chairman;
  • Chief Victor Odili, OON Non-Executive Director;
  • Mallam Ahmed Dasuki Non-Executive Director;
  • Mr Babatunde Folawiyo Non-Executive Director; and
  • Mr Gbenga Oyebode, MFR Non-Executive Director.

Replacement: Meanwhile, the telecommunications company appointed Ernest Ndukwe as its Chairman-designate.

Independent Non-Executive Directors

  • Mr Michael Onochie Ajukwu
  • Muhammad .K. Ahmad

Non-Executive Directors

  • Mr Andrew Alli
  • Mrs Omobola Johnson
  • Mr A.B. Mahmoud, SAN
  • Mrs Ifueko Okauru

[READ ALSO: NSE closes this week trading in negative territory]

News continues after this ad


About MTN: MTN (formerly known as M-Cell) was founded in 1994 and has over 200 million subscribers. It is a South African Multinational telecommunications company, operating in many African, European and Asian countries. The company is one of the three largest telecommunications firms in Africa. It is headquartered in Johannesburg. 

Related

Tags: MTN GroupMTN NigeriaRob Shuter

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Nigeria Data Protection Bureau probes UBA, Philips Consulting, for alleged data breach
    • Flour Mills of Nigeria Plc (FMN) Reaffirms its Commitment to Transformational Impact with the Release of its 2021/2022 Sustainability Report
    • Brain drain, tax and other economic effects of migration in Nigeria

    Follow us on social media:

    Recent News

    Nigeria Data Protection Bureau probes UBA, Philips Consulting, for alleged data breach

    Nigeria Data Protection Bureau probes UBA, Philips Consulting, for alleged data breach

    August 16, 2022
    Flour Mills of Nigeria Plc (FMN) Reaffirms its Commitment to Transformational Impact with the Release of its 2021/2022 Sustainability Report

    Flour Mills of Nigeria Plc (FMN) Reaffirms its Commitment to Transformational Impact with the Release of its 2021/2022 Sustainability Report

    August 16, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com