Business
MTN’s Chief Financial Officer Resigns

The Chief Financial Officer
of MTN Group is to step down in September after more than a decade at Africa’s biggest telecoms operator, the company said on Monday.
A statement by the company in Johannesburg said Brett Goschen had held the position since 2013.
According to MTN, its Rwanda Chief Executive Gunter Engling will assume the position of Acting Group CFO on Brett’s departure until a permanent CFO is appointed.
Goschen leaves the company in the middle of a hunt for new revenue streams that include convincing its more than 200 million users to use their handsets for everything from storing money to paying bills.
MTN also named former Barclays Africa Investment Banking Chief Stephen van Coller as head of mergers, acquisitions and strategy.
Coller’s appointment follows that of another banking veteran Rob Shuter as chief executive officer last month.
Coller will take up his role in October while Shuter is expected to start by no later than July next year.
MTN has struggled to make money at a faster pace as years of price wars and regulation aimed at bringing tariffs down hit profitability and made it less attractive to spend on new networks.
Investors are hoping Shuter and Coller will use their banking experience to shake off MTN’s reputation as a stock with a limited potential for growth and expect a move into financial services.
The move will pit MTN against African rival Safaricom, whose mobile money business M-Pesa helped offset falling prices for basic telecoms.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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