MTN to go ahead with Nigeria listing

MTN Group has confirmed it will proceed with plans to list on the Nigerian Stock Exchange (NSE) over the coming months up to 2018. The mobile operator presented an improved performance over the past six months in its interim financial results, despite what it described as challenging macro-economic conditions in many of its markets “with Nigeria, continuing to experience weaker naira as well as hard currency liquidity challenges.” Its Group President and CEO, Rob Shuter, who assumed office in March this year, said the 6.7 per cent rise in group revenue (underpinned by a 10.8 per cent growth in revenue for Nigeria) is a good start to the year.