on Thursday in a $6-billion flotation reflecting its increasing presence in the Nigerian market, its largest.years of difficulty with the government"We live and we work in Nigeria, now we are also listed in Nigeria," said Ferdi Moolman, chief executive of MTN Nigeria, adding the company was"proud to contribute to the growth of the NSE".Jude Chiemeka, NSE head of trading called the flotation a"landmark event".
The company also sees huge possibilities in mobile money, a transfer feature via mobile phones popular in several countries across the continent but that has yet to take off in Nigeria. "We're looking at mobile money, which has huge potential, not only for now but for the future," Moolman told reporters in Lagos."We estimate there are up to 50 million Nigerians with no access to bank accounts."
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Business Maverick: Can MTN Nigeria change the political optics through its local listing?MTN Nigeria is listing on the Nigerian Stock Exchange on Thursday, signalling a major shift in its approach toward its ongoing problems in its second largest market. It will become effective the second largest stock on the exchange with an opening value of around $5-billion, but whether this will be enough to satisfy Nigeria's rapacious regulators and populist politicians remains an open question.
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