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    Google Expands its Digital Wallet to South Africa

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    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

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    Flutterwave debunks Alleged Reports of Hacked Accounts

    Flutterwave debunks Alleged Reports of Hacked Accounts

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PICTDA announces Resumption Date for Code Plateau Cohort

    PICTDA announces Resumption Date for Code Plateau Cohort

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

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    Nigeria’s Cash Swap Policy: Goals versus Results

    Nigeria’s Cash Swap Policy: Goals versus Results

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

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    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    The Increase in Data Prices is a Big Challenge for Remote Workers in Nigeria

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

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    Is Africa Ready to Operate a Digital Monetary Policy?

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    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

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    Google Expands its Digital Wallet to South Africa

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    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

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    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

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    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

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    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

    Sky.Garden survives Shutdown, gets New Owners

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Home INNOVATION

MTN Secures License To Begin 5G Network in Nigeria

by Nuel Umahi
December 16, 2021
in INNOVATION
Reading Time: 3 mins read
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MTN Secures License To Begin 5G Network in Nigeria
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Telecommunications giant, MTN Nigeria Communications Plc has won one of two licenses to begin operations and use of 5G network in Nigeria. This is coming two weeks after it announced its public offer of selling over 500 million shares to Nigerian via retail investors for N169 each.

The company had secured the license on offer by the Nigerian Communications Commission (NCC) at an auction on Monday, December 13, 2021, enabling it to supply faster internet to customers and businesses.

Both MTN Nigeria and Mafab beat Airtel to the licenses by reaching the 11th auction round where the bid price was set at $275.9 million for each of the licenses, above the $197.4 million reserve price.

The procuring of the license reinforces MTN Nigeria’s commitment to delivering superior network services to its customers across the country as well as its growth prospects in the coming years, making it an even easier choice for investors to participate in its retail offer.

Taking MTN’s current portfolio into consideration, market analysts have continued to encourage Nigerians to seize the opportunity of the ongoing public offer to partake in MTN’s glowing future. The acquisition of the 5G license by MTN is another indicator of what is to come for the telecommunications industry in Nigeria.

Speaking at a recent Investor Forum which was held on the 1st of December, 2021, CEO Nigerian Exchange Limited, Temi Popoola urged Nigerians to key into the MTNN offer which according to him, has the “potential” to revive the market.

Boniface Okezie, National Coordinator, Progressive Shareholders Association (PSAN), heralded MTN Nigeria as “the best company to invest in” and asked investors to “go and invest in MTNN and keep your dividends rolling in”, while Bolaji Balogun, CEO of Chapel Hill Denham, described MTN Nigeria as “Nigeria’s strongest company in terms of dividend distribution and dividend policy”, adding, “If there is one gift you must give to a family member if there is one share they should buy, it is MTNN.”

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Tags: 5G NetworkMTN
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