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MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Momentum Metropolitan Holdings Limited    MTM   ZAE000269890

MOMENTUM METROPOLITAN HOLDINGS LIMITED

(MTM)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 08/07
16.05 ZAR   +0.31%
08/04MOMENTUM METROPOLITAN : Interest Payment Notifications
PU
08/02South African telecom operator Telkom moves into financial services
RE
07/29MOMENTUM METROPOLITAN : Secondary Listing on A2X
PU
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News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

South African telecom operator Telkom moves into financial services

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08/02/2020 | 08:25am EDT
A shopper walks past a Telkom shop at a mall in Johannesburg

South Africa's telecom operator Telkom has branched into the competitive space of financial services by launching a life insurance business that it said will initially sell funeral insurance.

Telkom and other mobile operators in South Africa are looking to tap more than 11 million South Africans who do not have bank accounts to offer lending and other financial services, a move that is set to threaten traditional and digital banks.

They are also seeking to expand their mobile payment apps into online market places to leverage their network and customer base.

"In recent years Telkom has made a strategic shift to digital distribution, which puts it in an ideal position to distribute insurance products using its considerable digital structure and intellectual property," Sibusiso Ngwenya, managing executive for Telkom Financial Services said in a joint statement on Sunday with insurer Guardrisk which will underwrite the service.

Partly state-owned Telkom has been diversifying its income streams beyond the fixed-line business, which now contributes just over 20% to group revenue, up from 56% in 2013.

Underwriter Guardrisk Life is part of JSE-listed insurer Momentum Metropolitan Holdings Limited.

In a Sunday Times newspaper ad, Telkom said it will also offer business loans and soon launch a digital wallet service for customers to buy products and pay for services via its Yep! app as well as other online transacting platforms.

The battle to capture South Africa's unbanked is intensifying among mobile operators after biggest mobile operator by subscribers MTN Group re-launched its mobile money app in South Africa in February and has been building the platform to include online shopping payments and micro loans.

In July Vodacom Group announced plans to create a 'super app' in partnership with digital payment provider Alipay, part of China's Alibaba group, to allow consumers in South Africa to shop online, pay bills and send money to family from next year.

(Reporting by Nqobile Dludla; Editing by Susan Fenton)

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -1.57% 248.13 Delayed Quote.16.99%
DOW JONES AFRICA TITANS 50 INDEX 0.39% 477.18 Delayed Quote.-11.14%
DOW JONES SOUTH AFRICA(ZAR) 0.21% 1696.31 Delayed Quote.-6.17%
MOMENTUM METROPOLITAN HOLDINGS LIMITED 0.31% 16.05 End-of-day quote.-26.51%
MTN GROUP LIMITED -0.76% 58.84 End-of-day quote.-28.67%
S&P AFRICA 40 INDEX -0.35% 158.66 Delayed Quote.-7.85%
TELKOM SA SOC LIMITED 1.42% 27.88 End-of-day quote.-19.93%
VODACOM GROUP LIMITED 0.26% 129.65 End-of-day quote.12.45%
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Financials
Sales 2020 - - -
Net income 2020 2 016 M 115 M 115 M
Net Debt 2020 - - -
P/E ratio 2020 11,7x
Yield 2020 2,49%
Capitalization 23 280 M 1 315 M 1 325 M
Capi. / Sales 2020 -
Capi. / Sales 2021 -
Nbr of Employees 15 871
Free-Float 47,5%
Chart MOMENTUM METROPOLITAN HOLDINGS LIMITED
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Momentum Metropolitan Holdings Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends MOMENTUM METROPOLITAN HOLD
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price 18,60 ZAR
Last Close Price 16,05 ZAR
Spread / Highest target 15,9%
Spread / Average Target 15,9%
Spread / Lowest Target 15,9%
EPS Revisions
Managers
NameTitle
Hilgard Pieter Meyer Group Chief Executive Officer & Executive Director
Mfundiso Johnson Ntabankulu Njeke Non-Executive Chairman
Ashlene van der Colff Group Chief Operating Officer
Risto Ketola Group Finance Director & Executive Director
Fatima Daniels Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
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PRUDENTIAL PLC-14.98%41 876
METLIFE, INC.-21.95%36 107
MANULIFE FINANCIAL CORPORATION-25.68%28 945
PRUDENTIAL FINANCIAL, INC.-25.82%27 440