MTN Plans To Use Mobile Money As A Collection Tool For Its Ghana IPO

Browse By

MTN, Africa’s largest telecoms operator, is going public in Ghana—its third largest market in Africa.

The initial public offering (IPO) is doubly historic: it is the largest ever undertaken in Ghana and it is also the first time shares of a major corporation can be purchased using mobile money accounts as Ghanaians will be able to buy shares using Momo Wallet, MTN’s local mobile money platform with 6.2 million users. The IPO will run from May 31 till July 31.

The IPO launch is part of an agreement with Ghanaian authorities as a condition for MTN’s 4G network license as the telecoms operator doubles down in a market it currently dominates. MTN, which is headquartered in Johannesburg, has over 230 million customers across Africa with a market cap of $17.8 billion.

See also  Breaking: 81 Confirmed Cases of Coronavirus in Nigeria
%d bloggers like this: