Monday , September 25 2023
MTN Nigeria Accounts for 40% of Group’s Value

MTN Nigeria Accounts for 40% of Group’s Value

MTN Group Chief Executive Officer, Ralph Mupita, has said that the Nigerian arm represented approximately 40 per cent of the value of MTN Group, and as such its achievements were key to the success of the Group.

Mupita stated this when the Group hosted MTN Nigeria board and executives for strategy retreat in Johannesburg, South Africa.

In a statement, the firm explained that at the retreat, the leadership of the Group’s largest subsidiary reflected on its strategic priorities for the next three years.

Mupita said, “MTN Nigeria represented approximately 40 per cent of the value of MTN Group, and as such its achievements were key to the success of the Group. As MTN Group, we are committed to supporting the business and ensuring that its success goes beyond just strong operational and financial performance, but also represents success for all stakeholders.

“Initiatives such as extending rural broadband, driving financial inclusion from MTN Nigeria’s Payment Services Banking licence and ensuring further localisations remain critical for success and sustainability,” he added.

The three-day working visit – hosted by MTN Group Chairman Mcebisi Jonas and MTN Group President, Mupita – brought together for the first time in South Africa, the boards and executive management teams of MTN Nigeria and MTN Group. The Chairman, Ernest Ndukwe and Chief Executive Officer, Karl Toriola, led the MTN Nigeria delegation.

During the trip, MTN Group and MTN South Africa held engagements attended by South Africa’s Minister of International Relations and Cooperation, Naledi Pandor and Minister of Communications and Digital Technologies, Khumbudzo Ntshavheni, as well as by Nigeria’s High Commissioner, Muhammad Haruna Manta.

Jonas stressed that strong bi-national relationships between Nigeria and South Africa are critical for Africa’s progress.

“As MTN, we appreciate that our own progress cannot happen without the two nations building stronger and stronger ties and providing leadership to the continent.”

Jonas said MTN Nigeria was in good hands under the direction of Ndukwe and Toriola. The MTN Nigeria leadership said that among the many discussions held in Johannesburg were how to navigate the unprecedented macro challenges that businesses across the world faced, as well as looking for the opportunities that these changes provided.

The MTN Nigeria leadership’s visit follows that of MTN Group’s Board of Directors and Executive Committee to Lagos in early July, when they held their own strategy retreat.

MEANWHILE, mobile money operator, MoMo Payment Service Bank, has announced popular comedienne, Anita Asuoha, popularly known as ‘Real Warri Pikin’, as its first ever Brand Ambassador for its brand.

Asuoha is expected to use her popularity among members of the unbanked and underbanked population in the country to further drive adoption of MoMo PSB in their daily financial transactions.

Speaking on Asuoha’s addition to the MoMo PSB family, General Manager Commercial, MoMo PSB, Elsa Muzzolini, said, “The brand’s choice to work with Real Warri Pikin was effortless. This is simple because she represents principles that are in perfect alignment and are both designed to challenge the status quo with ideas and innovations. MoMo PSB places a lot of importance on fintech innovation and financial inclusion. We have always viewed ourselves as a business that promotes inclusive economic expansion wherever we are active. By working with a great act like Real Warri Pikin, we hope to promote discussion between the Fintech industry and its partners and customers.”


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