Business

We are set to go public in Nigeria – MTN

A major player in the Nigerian telecommunications sector, MTN Nigeria is going public anytime soon.

The firm’s Chief Executive Officer, Rob Shuter disclosed this in an interview with Bloomberg TV adding that the process will be concluded in the next six months.

The time span, Shuter explained would allow the company to scale all the necessary hurdles before hitting the market.

The Initial Public Offer (IPO) is part of the agreement to settle the $1 billion fine imposed by Nigerian regulators on MTN in 2015 for failing to cut off subscribers who did not register their sim cards.

Nigeria provides the company’s largest source operating revenue with a subscriber base of over 50 million in all the 22 countries that it operates in.

MTN has raked in about $1 billion from Nigeria in the last 12 months.

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