MTN Group CEO: Nigeria’s case remains strong and resilient

MTN Group CEO, Ralph Mupita, recently spoke about the strong and resilient business case for Nigeria during an interview with CNBC Africa. He highlighted ongoing reforms in the country, emphasizing the long-term value and growth opportunities that can be captured. The two-day event he mentioned focused on assessing macroeconomic factors and structural reforms implemented by President Ndunumu. Mupita expressed confidence in the MTN Nigeria investment case, despite potential short-term challenges, and aimed to provide investors with a sense of comfort regarding Nigeria's promising outlook. One key aspect discussed was MTN's role in driving retail investments in the Nigerian capital markets. Mupita acknowledged the decline in foreign investors but pointed out MTN's efforts to deepen capital markets. By engaging retail customers and innovating access to equity and debt markets, MTN aims to contribute to the growth and stability of the Nigerian economy. He emphasized the importance of clearing outstanding foreign currency backlogs to attract more foreign portfolio investment, highlighting the need for increased participation in the Nigerian equity markets. Another significant focus of the interview was MTN's presence in key sub-Saharan African markets such as Nigeria, Ghana, and South Africa. Mupita underscored the company's core mission of providing digital and financial services to millions of customers while emphasizing the localization of ownership stakes in the markets where MTN operates. By promoting local ownership and driving retail shareholding, MTN seeks to enhance sustainability and ensure that local investors benefit from the company's success and growth. Overall, Mupita's insights shed light on MTN's commitment to fostering economic development and financial inclusion in Nigeria and other African markets. The company's efforts to deepen capital markets, drive retail investments, and localize ownership highlight its dedication to long-term value creation and sustainable growth.