On January 31st, 2023, the CEO of MTN Group, Ralph Mupita, paid a courtesy visit to the Nigerian Exchange Limited (NGX) and had the honour of ringing the closing bell to mark the end of the day’s market.
The visit was in line with the Memorandum of Understanding (MoU) signed between the two organizations in March 2022.
The MoU is a two-year partnership aimed at developing capital market solutions and promoting financial literacy in Nigeria.
The partnership will leverage technology to support data dissemination, provide technology-as-a-service, and eliminate barriers to retail participation in the capital market.
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During his visit, Mupita praised NGX for democratizing access to financial securities. “I commend NGX for democratizing access to financial securities,” he said.
“Our partnership with NGX is aimed at deepening equity capital markets and contributing to building an economy rooted in a deep and broad capital market.”
MTN Nigeria CEO, Karl Toriola, expressed his gratitude for the support received from NGX and credited the organization for fostering a successful public offer.
“I am delighted with the guidance that NGX provided which led to MTNN winning the most compliant company award,” he said.
The CEO’s visit coincided with the one-year anniversary of the MTN Public Offer, which was launched in December 2021.
The public offer was conducted through a digital platform and recorded an oversubscription of 139.47% with 126,720 participants.
As promised, MTN will be giving shareholders one incentive share for every 20 shares held since the public offer.
MTN Nigeria remains committed to empowering Nigerians through various initiatives and will continue to include creative projects in its customer engagement plans in the coming years.
