Telecommunication giant MTN has said it would list its shares on the Nigerian Stock Exchange this year, a move that would make it the first telco in Nigeria to list on the bourse.
MTN General Manager, Mr Nikiwe Tsaagane, made this known when he paid a courtesy visit to Dr Ogbonnaya Onu, Minister of Science and Technology, in Abuja.
Tsaagane said the efforts would help to fast-track improvement in the Nigerian economy.
“It is going to offer an important role in the 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,” he said. “The transaction is structured by ensuring that its data based and inclusive as we ensure that our Nigerian customers are able to participate.”
MTN is Nigeria’s biggest telecommunications operator with over 62 million people subscribed to its network.
As a technology-driven company, MTN is keen to add a digital touch to the listing process. To this effect, Tsaagane said the application processes would be digitized and would require minimal utilisation of paper.
“So we are working with the Nigeria Stock Exchange to develop application platform to make our customers be able to apply online.
“Here will be the first place of doing such digital application,” he added.
He stated that Nigerian Communication Commission and Nigeria Stock Exchange among others were fully in support of the programme to realise the plan.