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MTN Urges Senate To Approve NCC’s Data Price

MTN Urges Senate To Approve NCC’s Data Price

Mr Ferdinand Moolman the chief executive officer of MTN Nigeria, yesterday appealed to the senate to consider the Data price floor as set by the Nigerian Communications Commission, NCC, saying that data price is among the lowest in the continent. He made presentations in Abuja  at the Senate hearing on Data price floor, he also noted that the inability of telecom operators to access forex and that of the activities of the unlicensed providers of “over-the-top” telecoms services, contribute to the dwindling fortunes of licensed operators in the country. He described the OTT operators as people who do not have any physical presence nor pay any taxes; nor make any significant contribution to employment or other socio-economic objectives of government in Nigeria.

This is particularly debilitating given that most of our inputs are sourced off-shore. This has very significantly increased both operating and capital expenses, despite these macro-economic challenges, telecom tariffs have declined significantly to over 67% between 2007 and 2016 and data prices are amongst the lowest on the continent. With this in mind, MTN looks forward to the cost study as confirmed by the NCC, and remains committed to working with the Regulator and Industry to ensure fair value and fair competition in the Nigerian market.

Moolman added that MTN actively contributed to the development of the National Broadband Plan, and has consistently taken every step to facilitate the achievement of Government’s objectives of pervasive, cost-effective and sustainable access to data services by all strata of Nigeria’s population. The company continues to be an ICT development partner to the government and people of Nigeria.

MTN is very  committed to continue its efforts to provide the best data network to the people of Nigeria. In this regard, however  there are a number of factors that impact the sector’s sustainability such as the rise of headline inflation to about 17.9%. The depletion of operator revenues by unlicensed providers of “over-the-top” telecoms services who do not have any physical presence; nor pay any taxes; nor make any significant contribution to employment or other socio-economic objectives of government in Nigeria. There’s also the inability of operators to access foreign exchange.

Read more at: http://www.vanguardngr.com

 

 

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MTN EARNS $1.3BN LOAN

MTN EARNS $1.3BN LOAN

MTN EARNS $1.3BN LOAN


BY OMOKHUALE PUAH

Mobile Telephone Network (MTN) Group has gathered a $1.3 billion loan before its sale of bonds, to balance the N33bn Nigeria fine, address capital expenditure and pay dividends.


According to Bloomberg, “After raising the loan, the shares by sales rose by 2.2 percent to 121.49, at 12:29pm in Johannesburg yesterday, when the biggest two-day advanced since the 29th of June 2016 and valued the company at $16bn”.


Currently, MTN is issued a $1bn and a 4.8bn rand, from both local and international financial institutions. MTN has been on a road show in the United States and United Kingdom since this week, so as to increase the appetite of investors for debt security.


A director, Vestact Limited in Johannesburg, Sasha Naryshkine in his words “Mtn being able to manage the loans and attract funds from banking investors, bodes well” he said.


Adding this, he said that “this might also help Mtn get a reasonable outcome in the selling of bonds, investors would search for yields without so many risks and the best is still to come for Mtn, because the timing is good for an Mtn bond sale”.


After Mtn posted it’s ever first-half-year’s loss, which was partly caused by an agreement to settle an N330bn record fine in Nigeria, its move to attract funding came up.


The stock which had declined by 29 percent over the past one year, raised concern over the penalty a subscriber base of 233 million that had refused to grow in six months through June, even as the wireless operator struggles to repatriate the 15.4 billion rand, tied up in its Iranian unit.


It has been discovered that Mtn and its subsidiaries have $3.2bn of debt and interest payment, which will be due by the end of July 2017. Following the data of Bloomberg, this includes a $2.75bn bridge-loan term, a 2 billion rand senior unsecured loan and 1.25 billion rand of bonds coupled with the data showed.

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