One of Nigeria’s largest telecom companies, MTN, is celebrating its 17th year of operation in the country. Although the company has been going through a difficult time in the last three years, it is still the largest and most widely available telecom network in the country.
And to celebrate this impressive feat, we’ve decided to rundown seven interesting facts about the telco.
MTN Nigeria Began Operations in 2001
MTN Nigeria is a part of the MTN Group, the South African telecom conglomerate. It began operations in Nigeria in 2001 after spent $285m for one of four GSM licenses in the country in January 2001.
MTN Nigeria Has 55.2 Million Subscribers in Nigeria
MTN is undoubtedly the largest telecom company in Nigeria. According to statistics from July, the telecom company boasted 55.2m subscribers. In perspective, Nigeria accounts for more than 25% of the MTN Group subscriber base globally.
MTN Nigeria Has Made N567 billion this year
Despite its revenue base being hit hard due to a huge NCC fine, the telco has been picking up gradually. In the first half of 2018, the telecom company made a revenue of N567 billion, that is a 17 percent boost from the same period last year.
India’s Bharti Airtel Tried to Buy MTN Group in 2008
MTN Nigeria’s mother company, MTN Group, almost fell into the hands of the Indian company, Airtel, way back in 2008. According to the facts, Airtel considered a $19 billion bid for a 51% share of MTN Group but the deal fell through.
MTN is Africa’s Most-Valued Brand
In 2015, MTN was voted Africa’s most valuable brand by Brand Africa. That was the second time it won the award.
MTN Group Operates in 21 Countries Globally
MTN doesn’t operate in Nigeria and South Africa alone. The telecom company also operates in several African countries and a few countries in the Middle East. By 2018, its total global subscriber base is 223 million.
MTN Nigeria Will List on the Nigerian Stock Market Later This Year
Following the terms of its deal with the NCC, MTN will list its Nigerian subsidiary on the country’s bourse later this year. That listing is expected to be worth $5.2 billion and would be used to shore up the company’s resources in the country.
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