NGX Capital Markets Conference: MTN kicks off roadshow for sale of 575 million shares

MTN Nigeria, a leading telecommunications company, has initiated a roadshow to attract retail investors for the sale of 575 million shares. The Chief Executive Officer of MTN Nigeria, Karl Toriola, revealed this development during an interview at the inaugural NGX Capital Markets Conference in Abuja. The primary goal of the roadshow is to deepen the retail market and expand the investor base in Nigeria. Toriola emphasized that by engaging more retail investors, the country can potentially witness an increase in capital access for both the private and public sectors. Additionally, the move is expected to boost savings rates in Nigeria, ultimately facilitating the availability of capital for government projects and infrastructural development. The CEO highlighted the significance of active capital markets in fostering economic growth and financial stability. MTN Nigeria's strategic decision to release shares to retail investors stems from the company's commitment to sharing its value with the local population. Toriola pointed out that despite the company's robust financial position, the share sale was driven by a genuine desire to involve Nigerians in the wealth creation process. The CEO also stressed the importance of financial inclusion and how retail investors can actively participate in MTN Nigeria's growth journey. The share sale announcement, which was well-received, includes incentives for retail investors such as a bonus share for every 20 shares purchased and potential dividend payouts in the future. Toriola expressed optimism about the overall potential for growth in MTN Nigeria, citing the company's focus on improving connectivity, expanding digital services, and venturing into the FinTech and entertainment sectors. He outlined the company's strategy to enhance rural connectivity, address the needs of underserved populations, and leverage regulatory approvals to offer innovative financial services. Furthermore, Toriola discussed MTN Nigeria's investment in infrastructure and network capacity to accommodate a growing number of data subscribers. Looking ahead, the CEO envisioned a transformed MTN Nigeria that not only dominates the telecommunications sector but also emerges as a key player in digital services, financial inclusion, and content distribution. He emphasized the significance of customer-centric approaches and continuous innovation to drive the company's evolution over the next decade.