Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.


MTN Ghana Heads for IPO

Article Image
MTN Group appears to be in the final stages of the IPO of its operation in Ghana, according to reports that suggest the valuation of the operation has increased in recent months.

A Bloomberg report suggests that if final approvals are given, MTN Ghana shares might be trading on the Ghana Stock Exchange in April and that the 35% stake being floated could be valued at 3.48 billion Ghanaian Cedis (US$790 million), giving MTN Ghana a total valuation of about $2.2 billion.

The listing is not unexpected. Under the terms of the 4G license it was awarded in Ghana, MTN is required to list its shares on the local exchange. "A key objective of the listing is to target a broad base of Ghanaian investors to share in the risks and rewards of ownership of MTN Ghana," noted MTN in its annual financial report. (See MTN Predicts Strong Growth Following Network Investments.)

MTN Ghana, the clear market leader (more than 44% market share) ahead of the recently-formed AirtelTigo and Vodafone, had a positive 2017, which is perhaps why its valuation may have increased. (See Bharti Airtel, Millicom Combine Operations in Ghana.)

MTN Ghana reported revenues of 10.38 billion South African Rand ($890 million) in 2017, a slight increase over the previous year (as reported in Rand by its parent company), but in local currency sales increased by more than 23%. It ended 2017 with 15.7 million customers, including 6.5 million data service users, and is forging partnerships to further boost its appeal to mobile users. (See Bango Teams Up with MTN Ghana to Launch Mobile Money Wallet in Google Play.)

MTN Group is also working towards a local IPO for its operation in Nigeria.

— Ray Le Maistre, Editor-in-Chief, Light Reading for Connecting Africa.

Innovation hub


Moya super app takes aim at SA fintech market

Super app Moya's fintech platform, MoyaPay, aims to be South Africa's most widely used mobile money payments platform.


Hot startup of the month: Kenya's Shamba Pride

This month's hot startup, Shamba Pride, wants to revolutionize the rural agricultural trade ecosystem in Kenya by transforming agro-dealers into franchised 'DigiShops.'

More Innovation hub

Guest Perspectives


Omdia View: April 2022

By Omdia Analysts

This month's Omdia View highlights indicate a shift to digital transformation and operational consolidation to maximize return on investments.


Omdia View: March 2022

By Omdia Analysts

This month's Omdia summary of the biggest stories in the Middle East and Africa focuses on SA's spectrum auction and new submarine cables landing in Kenya and Togo.

More Guest Perspectives

Partner perspectives

All Partner Perspectives

Flash poll

All polls

Latest video

More videos

Archived webinars

Boosting Customer Experience in the Digital Age

From the first interaction to the last payment: convert leads into clients, drive loyalty and grow your bottom line.

The digital age has ushered in a new era of customer engagement. Consumer demands and expectations are higher than ever – where an affordable but seamless online experience is now the norm.

At a time when competition for your customers is fierce, ensuring a client journey that is tailored to their needs has never been more important. The ability to build these bespoke offerings starts with understanding, and that understanding is built on data.

This webinar will explore how gathering insight is key to growing and retaining a strong customer base; we’ll unpack how CRM platforms, mobile payment, lead capture, and online marketing are key factors in building a successful 21st Century digital business.

  • Customer Experience – understanding consumer expectations of today
  • What easy steps can you take to provide a complete, immersive digital customer experience?
  • How to leverage modern digital tools to build customer loyalty

More Webinars

Sponsored video

More videos

AfricaCom perspectives


Digital inclusion as a catalyst for economic empowerment: Mastercard's Imelda Ngunzu

Mastercard's Imelda Ngunzu talks to Connecting Africa about how digital payment solutions and mobile money are transforming the lives of small business owners, women and marginalized groups in East Africa.


Accelerating women in STEM: In conversation with GirlCode's Tinyiko Simbine

GirlCode co-founder and CFO Tinyiko Simbine talks about why it's important to help girls and young women excel in science, technology, engineering and mathematics (STEM) fields.


How Poa Internet is unlocking meaningful connectivity in East Africa

Poa Internet's CEO Andy Halsall shares his views on what it takes to develop last-mile connectivity and get Africans online in a meaningful way.

More AfricaCom perspectives

Like us on Facebook

Newsletter Sign Up

Sign Up