• 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
    Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing
    Malawi’s Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market
    $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank
    $20 Million has been endorsed by the AfFB to enhance the business to strengthen investments for Climate-Smart Agriculture in Mozambique AfDB Divulged
    Nigeria’s Telecom Contribution to the Gross Domestic Product (GDP) Hits 16 per cent in the Second Quarter of 2023- report
    Philip Mpango Vice President of Tanzania called for a Global Partnership to address the existing Demographic Emergency
    Dr. Akinwumi Adesina President of the AfDB raised an eyebrow at the Improvement to Failing Global Financial Architecture
    N125 billion hoisted by MTN Nigeria through Commercial Paper Issuance by way to improve its Financing Alternatives
    Uganda will start to export Milk products to Algeria in October
    Ghana’s Ambassador to Togo Kofi Mensah Demitia strengthened existing Economic Cooperation between Ghana and Togo in the path of the African Continental Free Trade Area (AfCFTA)

    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

    Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing

    Posted On 26 Sep 2023

    Malawi's Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market

    Posted On 25 Sep 2023

    $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank

    Posted On 22 Sep 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing

    Malawi's Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market

    $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank

    Recent Posts

    • Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing
    • Malawi’s Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market
    • $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank
    • $20 Million has been endorsed by the AfFB to enhance the business to strengthen investments for Climate-Smart Agriculture in Mozambique AfDB Divulged
    • Nigeria’s Telecom Contribution to the Gross Domestic Product (GDP) Hits 16 per cent in the Second Quarter of 2023- report

    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.