MTN Group Ltd

Reuters, yesterday, said its sources had revealed this, saying MTN which had previously marked the online retailer as a non-core business, is reviving plans for a sale after Jumia’s shares surged 142% this year, recovering from a dip in 2019. No final decisions about the sale have been made, the sources told Reuters.

Orange, France’s largest telecom operator, believes it would benefit from having a wider footprint in Africa and will give itself a few months to make a possible move, Chief Executive Stephane Richard told Les Echos business newspaper.

MTN Group Ltd says it has raised 2.1 billion rand (140.24 million dollars) from asset sales in the first half of this year as part of a divestment plan to simplify its portfolio.

African online retailer Jumia is planning an initial public offering in New York this year that could value the business at about $1.5bn, according to people familiar with the matter.

Emerging-market assets may be enjoying a strong start to the year, but one country missing out on the rally is Nigeria.

MTN Group Ltd. boosted sales ahead of targets in the third quarter, showing its ability to grow the business even with a major regulatory spat that’s rocked shares of Africa’s largest wireless carrier.

MTN Group Ltd., the wireless carrier facing a combined $10 billion in claims from Nigerian authorities, said it may no longer seek to raise capital through an initial public offering on the country’s stock exchange.

MTN Group said there is no specific date for its initial public offering yet as it is still perfecting details of the proposed listing.

MTN Group Ltd. has appointed more banks for the sale of shares in its Nigerian unit on the stock exchange in Lagos as it looks to start an initial public offering in June or July, according to people familiar with the matter.

Google is releasing an app in Africa that will help internet users overcome obstacles such as the lack of high-speed connectivity and the cost of data on the continent.

Africa’s biggest mobile-phone firm, MTN Group Ltd, yesterday said its is doing a spring clean of its empire, conducting a review to decide whether it really needs to be in all 22 of its markets across Africa and the Middle East. Some of the markets are tiny, others are war-torn while still more have regulators desperate to curb the telco’s perceived dominance.

The Securities and Exchange Commission (SEC) on Monday said that it was yet to be notified by the MTN Group on plans to raise about 500 million dollars from the Nigeria’s capital market.