Business
MTN To Sell N101bn Stakes In Nigerian Unit
MTN plans to sell shares in the carrier’s Nigerian unit worth about 101 billion naira, continuing a plan to dispose of assets and pay down debts.
Africa’s largest mobile-phone operator will offer 575 million shares in MTN Nigeria, which is listed in Lagos in 2019, according to a statement yesterday.
The move is part of a broader plan to sell about 14 percent of the parent company’s holding in its largest and most profitable unit, the group said.
MTN shares yesterday morning rose as much as 3.6 percent in Johannesburg, the most in almost a month. The stock has surged138% this year, the best performer on the FTSE/JSE Africa Top40 Index, as investors cheer various cash-raising exercises.
The Nigeria sale comes as MTN looks to finalise a sale-and-leaseback of its South African telecom-mast portfolio and list shares in the Uganda operation in Kampala.
The company also netted some proceeds from the initial public offering of towers firm IHS in New York last month.
MTN said third-quarter service revenue gained by 19%, driven by data and fintech sales.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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