- MTN has indicated to its shareholders that its annual profit is expected to surge to 35 percent.
- The company forecast a rise in headline earnings per share (Heps) of between 25 and 35 percent for the year ended December 2021.
The Pan- African leader in mobile network, MTN has indicated to its shareholders that its annual profit is expected to surge to 35 percent. The company forecast a rise in headline earnings per share (Heps) of between 25 and 35 percent for the year ended December 2021.
The company undertook a restructuring of its management team, boosting its brand as a technology company. The key management changes announced In December 2021 was part of its makeover. Its Ambition 2025 strategy underscores sustained growth with focus on a post-Covid-19 scenario by accelerating growth in the core connectivity business, deleverage debt, and drive the structural separation of its fintech and infraco assets. In a bid to consolidate its Pan Africa presence, simplify its portfolio and focus on the continent, it also left Yemen and Syria.
MTN, claims a customer base of more than 272 million in 20 markets mostly in Africa and the Middle East, recently stated that it would unveil its new identity from February 27. The new identity will be part of its “Ambition 2025” strategy and its plan to create “leading digital platforms for Africa’s progress.”
MTN has announced that its core connectivity business would be South Africa, Nigeria and markets comprising West and Central Africa, South and East Africa as well as the Middle East and North Africa.
Meanwhile the company has announced some significant positive moves. In November, MTN Nigeria came out with a public offering of just under 3 percent of shares in MTN Nigeria. The Series 1 offer for sales of shares to the public, was closed earlier this month in a transaction that saw subscription exceed by 139.5 percent. MTN Nigeria has also got approval to operate its proposed Mobile Money (MoMo) service from the Central Bank of Nigeria last year. Concurrently, MTN South Africa announced a R6.4 billion sale of 5709 towers to Lagos-based IHS Towers.
The MTN is expected to publish its annual results for the year-ended December 2021 on March 9.
