Mobile operator MTN Ghana has completed its IPO and about 12.5% of its stock will trade on the Ghana Stock Exchange (GSE) from September 5, with MTN Group retaining an 85.4% stake in the Ghana operation and minor shareholders owning the remainder.
The company raised almost 1.15 billion Ghanaian cedis (US$238.5 million) from the sale of shares to 128,152 applicants, making it "the largest primary share offer on the Ghana Stock Exchange." About 85% of those who applied to buy shares applied through the MTN Mobile Money portal.
But demand for the shares was not as strong as the operator had hoped: MTN Group had offered up 35% of MTN Ghana's stock for the public listing.
MTN Ghana has about 16.5 million subscribers, making it the fourth-largest operation in the MTN Group as of the end of June this year. (See Mixed Bag for MTN in H1.)
Africa was the birthplace of Mobile Money and while it continues to rise in popularity, the industry is quickly evolving and launching more mobile-based financial services every day. In this Connecting Africa online event, local analysts and industry stakeholders will discuss how telcos are disrupting the financial services space and what the rise of Mobile Money 2.0 will look like for Africa.
From cash to mobile: heading towards a cashless society
Expanding MFS offerings beyond mobile money transfers
MNOs vs banks vs fintechs: an evolving competitive landscape
Unconnected and unbanked: fintech to improve financial inclusion
The rise of micro-loans and insurance through mobile platforms
Africa has the fastest growing population in the world and also the youngest, with 60% of Africans under the age of 25. It is clear that the next billion connected are going to be the mobile-only generation. This digital symposium will bring industry experts together to discuss Africa’s digital divide and how to get devices into the hands of young Africans and empower them to join the digital revolution.
Who’s Driving? The role of government & regulator, private tech companies, and public-private partnerships
Device affordability: are we reaching a tipping point?
Status check: Satellite vs Fiber and the enduring infrastructure gap
Exploring the wider societal and economic benefits of a connected, digitally literate continent