MTN Group CEO Ralph Mupita had the honour of sounding the closing bell to announce market closure for the day on a courtesy visit to the Nigerian Exchange Limited (NGX) on January 31st, 2023.
According to a statement, this visit was no surprise, as both are futuristic organisations committed to empowering Nigerians through financial solutions. MTN Nigeria and NGX signed a Memorandum of Understanding (MoU) to further financial literacy and enhance retail participation in the Nigerian capital market in March 2022.
The MoU is a two-year partnership to develop capital market solutions and leverage technology to support data dissemination and technology-as-a-service. It will also promote capacity development and eliminate barriers to retail participation in the capital market.
During his courtesy visit, MTN Group CEO Ralph Mupita commended NGX for democratising access to financial securities and spoke to the fact that the partnership with NGX was started to deepen equity capital markets. Also, he expressed MTN’s desire to contribute to building an economy rooted in a deep and broad capital market.
On his part, MTNN CEO Karl Toriola expressed a deep and sincere appreciation for the support that MTN Nigeria has received from NGX and particularly highlighted his delight in how their guidance fostered a successful public offer and led to MTNN winning the most compliant company award.
The MTN Group CEO’s courtesy visit also coincided with the one year anniversary of the completion of the MTN Public Offer, launched in December 2021. Popularly known as the first public offer in Nigeria to be conducted through a digital platform, this initiative offered 575 million shares by the MTN Group. Upon its conclusion, the company welcomed 126,720 participants as it recorded an oversubscription of 139.47%.
As promised during the Public Offer, MTN will be giving shareholders one incentive share for every 20 shares held since the public offer.
MTN Nigeria remains committed to fostering the development of Nigerians through various initiatives across industries. The technology company will continue to include similarly creative projects in its customer engagement plans in the coming years.