Business
MTN rebounds to profitability, hikes dividend and plans share buybacks
For the full year 2025, strong performances in MTN Nigeria and MTN Ghana , as well as 3.6 billion rand in cost savings, delivered a profit before tax of 47.4 billion rand ($2.81 billion).
Africa’s biggest telecoms operator MTN Group said on Monday it has rebounded to an annual profit and would pay shareholders a dividend that exceeded guidance and planned to buy back shares.
Reuters reports that the strong performance in the year ended December 31 followed a difficult 2024 for the group, when its largest business, MTN Nigeria was hit by sharp currency devaluations, surging inflation and high interest rates.
For the full year 2025, strong performances in MTN Nigeria and MTN Ghana , as well as 3.6 billion rand in cost savings, delivered a profit before tax of 47.4 billion rand ($2.81 billion).
That compared to a restated loss before tax of 4.1 billion rand in 2024.
At the market opening in Johannesburg, South Africa-headquartered MTN shares surged 7.4% before paring gains to trade 4.8% higher at 0943 GMT.
The operator declared a final dividend of 500 cents per share, up 45%, and 35% above the 370 cents minimum MTN had guided for the period.
Group CEO Ralph Mupita said in a media call that MTN would introduce an enhanced framework, targeting an annual distribution of 40% to 60% of equity-free cash flow in shareholder remuneration, effective now.
The framework includes a minimum cash dividend of 40% of equity‑free cash flow, with an additional 20% available for further cash payouts or share repurchases.
Mupita said the board had approved a buyback of up to 6 billion rand, “to be executed opportunistically over three years from 2026”.
The group’s service revenue rose 22.7% to 218.5 billion rand, led by strong growth of 54.9% and 35.9% in Nigeria and Ghana, respectively, the mobile operator said.
(Reuters)
Business
Exchange Rates Today Friday, 12 June
Black Market Rates
US Dollar (USD) ₦1,397
Great British Pound (GBP) ₦1,850
Official CBN Exchange Rates
US Dollar (USD) ₦1,363. 83
Great British Pound (GBP) ₦1,821. 25
EURO (EUR) ₦1,572. 90
SWISS FRANC (CHF) ₦1,706. 49
JAPANESE YEN (JPN) ₦8.50
CHINESE YUAN (CNY) ₦201.20
West African CFA (XOF) ₦2.40
West African Unit Account (WAUA) ₦1,857. 45
SAUDI RIYAL (SAR) ₦363. 29
SOUTH AFRICAN RAND (ZAR) ₦82.61
Black Market Rates
US Dollar (USD) Buy ₦1,397 Sell ₦1,405
Great British Pound (GBP) Buy ₦1,850 Sell: ₦1,870
EURO (EUR) Buy ₦1,587 Sell ₦1, 607
Canadian Dollar (CAD) Buy ₦1,030 Sell ₦1,100
South African Rand (ZAR) Buy ₦75 Sell ₦90
UAE Dirham Buy ₦350 Sell ₦370
Chinese Yuan Buy ₦180 Sell ₦200
Ghana Cedi (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 380 Sell ₦2, 460
Central African CFA Buy ₦2, 220 Sell 2,300
Australian Dollar Buy ₦800 Sell ₦900
Business
Airtel launches data calculator to counter depletion complaints
Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said that the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.
Airtel Nigeria has launched the Airtel Web Data Calculator, a new digital tool designed to help customers estimate and better understand their internet data consumption based on real-life usage patterns.
Available through Airtel’s website, the calculator enables customers to estimate data usage across common digital activities such as video streaming, social media engagement, voice and video calls, and everyday web browsing.
Speaking on the launch, Oladokun Oye, Customer Experience Director, Airtel Nigeria, said that the initiative reflects Airtel’s commitment to customer empowerment and service transparency.
“As Nigerians become increasingly dependent on digital services for work, education, entertainment and communication, it is important that customers have clear visibility into how their data is consumed.
The Airtel Web Data Calculator was developed to help our customers understand their usage patterns better, make informed choices, and enjoy greater confidence in their digital experience,” he said.
Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.
“The future of telecommunications will be defined not only by network investments but also by how effectively operators help customers understand and manage their digital lives. The Airtel Web Data Calculator represents a practical innovation that places more information and control directly in the hands of our customers.” He said.
Business
Kingsley Moghalu chairs Bluecode Africa subsidiary in Nigeria
Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.
Bluecode Africa, the European payments infrastructure operator backed by leading US and European institutional investors, has named Prof Kingsley Chiedu Moghalu as Chairman of the Advisory Board of its Nigerian subsidiary, Bluecode Payments Nigeria Limited as the company formally enters the Nigerian market.
The appointment was jointly announced by Chris Pirkner, Founder of Bluecode, and Odin Krismayr, Managing Director of Bluecode Africa, who described it as a foundational governance decision for the company’s Nigerian and continental operations.
Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.
He led the team that introduced the unique-identifier Bank Verification Number (BVN), enrolling 50 million banking users, simplifying Know Your Customer (KYC) procedures, and doubled Nigeria’s financial inclusion rate from 33 to 60 per cent.
Edo Queens Win 2025/26 NWFL Title
World Cup: Japan Holds Netherlands To 2-2 Draw
Police begins enforcement on vehicles with covered number plates
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
Opinions3 days agoDemocracy Still Struggling 33 Years After June 12, PDP Laments by Comrade Ini Ememobong
-
Crime2 days agoBandits Kill 19 Farmers, Injure 12 Others in Fresh Attack in Zamfara
-
Crime2 days agoBREAKING: Retired General Dies in Kidnappers’ Captivity, Demand Release of Gang Members
-
Sports3 hours agoWorld Cup: Sweden beats Tunisia 5-1
-
Sports1 day agoBalogun: This is something I dreamed of for a long time
-
Sports1 day agoFIFA World Cup 2026 Day 3: Qatar draws Switzerland 1: 1
-
Sports2 days agoFIFA World Cup Day 2: Canada holds 1-1 Bosnia-Herzegovina
-
International3 hours agoUS and Iran to sign historic peace deal June 19 in Switzerland