• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    Egypt to commence Enrollment of Millions of Fizgig Staffers for the Government Insurance
    Students of the University Management Technology exhorted to make Sierra Leone proud, Sierra Leone’s Minister of Information and Communications – Mohamed Rahman Swaray divulged
    African Energy Chamber Commits to Facilitate Capital Raising for Energy Projects In Africa
    Liberia’s Metieh Glassco – the Director General of Liberia’s Fisheries and Aquaculture Authority (NaFAA) to uphold the 2012 Cape Town consensus
    MDXi Embraces Energy Efficiency and Environmental Sustainability
    South Africa’s Maite Nkoana-Mashabane yelled for Women’s representatives in the enactment of the African Continental Free Trade Area (AfCFTA)
    West Africa Gold Production Expected to Increase by 2.7% in 2021 According to Report
    Sierra Leone’s Ministry of Fisheries and Marine Resources upheld Friendship with Amsoft Technologies to enhance Canoe Registration Web Portal and Portative Application
    N10 Billion filled into the Scholastic realm of Nigeria by Dangote
    African Export-Import Bank (Afreximbank), African Association of Automotive Manufacturers (AAAM) Signs Agreement to Drive Automotive Investment in Africa

    MTN to Sell Tower Businesses in Ghana and Uganda

    Posted On 05 Jan 2020
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    BY ANIN AGYEI-

    Photo Credit: Foursquare

    NEW AFRICA BUSINESS NEWS, Accra, GHANA- MTN Group has agreed to sell its towers businesses in Ghana and Uganda as Africa’s biggest mobile phone operator refocuses on high-growth markets on the continent and in the Middle East.

    Clashes with regulators in Nigeria, Uganda and elsewhere have crimped growth, prompting the company to announce a $1 billion three-year asset-disposal plan earlier this year. MTN said it had agreed to sell its 49% holdings in Ghana Tower Interco B.V. and Uganda Tower Interco B.V. to AT Sher Netherlands Coöperatief U.A. for $523 million. The sale is expected to close in the first quarter of 2020 leaving MTN with a profit of 6 billion rand ($425.74 million).

    The company also said it had finalized the redemption of MTN Nigeria preference shares, raising $315 million. MTN said it will use the proceeds to pay down its U.S. dollar-denominated debt and for general corporate purposes. “We remain focused on continuing to execute on the important strategic priorities of reducing debt, simplifying the portfolio and reducing risk,” the firm said in a statement.

    The company is aiming to shed loss-making e-commerce assets and exit countries where it has no prospect of reaching the top-two spots in terms of market share.

    $1 = 14.30 South African Rand- January 01/04/ 2020

    www.newafricabusinessnews.com
    Africa’s Most Read and Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

     

     

     

    NEW AFRICA BUSINESS NEWS
    COMING SOON ADVERTISING OPPORTUNITY WITH AFRICA’S FASTEST GROWING GLOBAL ONLINE NEWSPAPER. THANK TO COMPANIES THAT WANT TO ADVERTISE.   INFO@NEWAFRICABUSINESSNEWS.COM.

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Angola’s Angela Braganca Asserted Tourism will Leverage Financial Status of Angola

    Next Story

    MP Provides Insurance Coverage to Okada Riders, in Ghana

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    Egypt to commence Enrollment of Millions of Fizgig Staffers for the Government Insurance

    Posted On 02 Mar 2021

    Students of the University Management Technology exhorted to make Sierra Leone proud, Sierra Leone's Minister of Information and Communications – Mohamed Rahman Swaray divulged

    Posted On 01 Mar 2021

    African Energy Chamber Commits to Facilitate Capital Raising for Energy Projects In Africa

    Posted On 28 Feb 2021

    New Africa Business News, Person of the Year 2020-2021, Goes to Dr. Arikana Chihombori Quao

    Posted On 01 Jan 2021

    New Africa Business News, Africa President of the Year 2020-2021 Goes to Tanzania's John Pombe Joseph Magufuli

    Posted On 01 Jan 2021

    New Africa Business News, REPORTER of the Year 2020-2021, Goes to Richard Adorsu

    Posted On 08 Feb 2021

    Thanks for reading, Africa’s fastest...

    Posted On 02 Mar 2021

    Interesting report. Please continue...

    Posted On 02 Mar 2021

    Thanks for reading, Africa’s fastest...

    Posted On 02 Mar 2021

    Facebook

    Latest Posts

    Egypt to commence Enrollment of Millions of Fizgig Staffers for the Government Insurance

    Students of the University Management Technology exhorted to make Sierra Leone proud, Sierra Leone's Minister of Information and Communications – Mohamed Rahman Swaray divulged

    African Energy Chamber Commits to Facilitate Capital Raising for Energy Projects In Africa

    Recent Posts

    • Egypt to commence Enrollment of Millions of Fizgig Staffers for the Government Insurance
    • Students of the University Management Technology exhorted to make Sierra Leone proud, Sierra Leone’s Minister of Information and Communications – Mohamed Rahman Swaray divulged
    • African Energy Chamber Commits to Facilitate Capital Raising for Energy Projects In Africa
    • Liberia’s Metieh Glassco – the Director General of Liberia’s Fisheries and Aquaculture Authority (NaFAA) to uphold the 2012 Cape Town consensus
    • MDXi Embraces Energy Efficiency and Environmental Sustainability

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.