MTN to digitalise IPO on Nigeria’s bourse

As MTN Nigeria plans to list its shares through Initial Public Offering(IPO) later this year, the transaction is going to be paperless, its General Manager, Nikiwe Tsaagane, has said.

Tsaagane made this known when he paid a courtesy visit to Dr. Ogbonnaya Onu, Minister of Science and Technology, in Abuja at the weekend.

According to him, the efforts would help to fast-track improvement in the Nigerian economy.

His words: “It is going to offer important role in capital market as it will be one of the largest transactions in Africa. This will showcase Nigeria in the global economy if we can achieve it.

“The transaction is structured by ensuring that it’s data based and inclusive as we ensure that our Nigerian customers are able to participate,” he said.

According to him, MTN which is currently listed on the Johannesburg Stock Exchange, has 62 million subscribers already in Nigeria, representing a significant Nigerian population.

He said the application processes would be in a digitalised to minimalise the utilisation of paper.

“So we are working with the Nigeria Stock Exchange to develop application platform to make our customers to be able to apply online.

“Here will be first place of doing such digital application,“ he added. He said the Nigerian Communication Commission and the Nigeria Stock Exchange among others were fully in support of the plan.

The general manager said MTN would like to partner with the ministry to enjoy its know-how leadership.

“We will ensure that all the stakeholders in different sectors will be incorporated and it is important to obtain your imput, support and guidance,” he said.

Responding, Dr. Onu said the ministry would collaborate with MTN as it was its culture to uplift any brilliant idea to grow the nation.

“We commend MTN for its contribution to our economy. We will support you, study your proposal and make our own view,” Mr. Onu said.

The minister urged MTN to do its research and innovation in Nigeria to make the company to remain ahead of its competitors.

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