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)
The Malindi Environment and Land Court has declined to issue orders stopping the launch and construction of the planned KSh 2 trillion Dangote Oil Refinery in Lamu County.
In a ruling made public on Monday, 28 September 2026, the court instead directed both parties to maintain the status quo on the disputed land in the Hindi/Manda Magogoni area until the matter is heard on 14 October 2026.
The case was brought by 133 residents of Chandavai. They claim the land is their ancestral heritage, where their families have lived and farmed for generations. The residents say they do not oppose development but want their land rights recognised before the project proceeds.
The court ordered the government and other respondents to file their responses within 14 days. The application is scheduled for hearing on 14 October 2026.
The groundbreaking ceremony for the refinery is expected to go ahead as planned on Wednesday, 30 September 2026. While the court has not halted the ceremony at this stage, the status quo order means activities on the disputed site may be restricted pending the October hearing.
Business
Oil Rises As US Rejects Iran Proposal
Iran said it is waiting for a definitive US response to its seven-day proposal to reopen the strait and other demands, adding that it will not ease its conditions after Trump rejected Tehran’s latest plan.
Brent crude climbed above $106 per barrel on Monday, recovering losses from the previous session after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, raising concerns that the restoration of oil flows through the critical waterway could face further delays.
Trump also said Tehran had overplayed its hand and expects negotiations to resume this week.
Meanwhile, Iran said it is waiting for a definitive US response to its seven-day proposal to reopen the strait and other demands, adding that it will not ease its conditions after Trump rejected Tehran’s latest plan.
Elsewhere in the Middle East, tensions remain high as Saudi Arabia intercepted Houthi drones heading toward Riyadh, along with a missile targeting Khamis Mushait in the south.
Alerts were also issued in Abha and Jazan, where Aramco operates energy facilities.
In the US, Trump is considering a ban on diesel exports as part of efforts to address elevated fuel prices.
Business
NGX Debuts Invest WhatsApp Channel
The channel provides investors with an additional, convenient way to participate in public offers.
Nigerian Exchange Group (NGX Group) has expanded access to its NGX Invest platform with the launch of a WhatsApp subscription channel.
The channel provides investors with an additional, convenient way to participate in public offers.
Investors can begin the subscription process by sending “Invest” to NGX Invest on WhatsApp at +234 812 731 9521.
They can then follow the prompts to view eligible offers and complete the required subscription steps without downloading a separate application.
As part of the process, investors will select a stockbroker through whom their application will be processed, ensuring that brokers remain an integral part of the investment journey.
(VANGUARD)
UPDATE: Malindi Court Declines to Halt Dangote Refinery Launch in Lamu
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