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MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  MTN Group Limited    MTN   ZAE000042164

MTN GROUP LIMITED

(MTN)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 11/24
69.28 ZAR   +2.35%
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MTN : Lonestar Cell MTN Mobile Money Partners With Worldremit On International Remittances

09/15/2020 | 06:11am EST

Lonestar Cell MTN, Liberia's leading GSM and Mobile Financial Services company, has partnered with WorldRemit to make it possible for Mobile Money customers to receive international remittances straight to their Lonestar Cell MTN Mobile Money accounts, free of charge.

This service presents the exciting prospect for Liberians to receive seamless international remittances from their family and friends, anywhere in Europe, Canada and the USA.

With over 7,000 Lonestar Cell MTN agent cashpoint locations across Liberia, the service eliminates the stress, risks and long queues in banking halls associated with receiving remittances sent by loved ones. Adding international remittances to the vast and rapidly expanding MoMo ecosystem affirms Lonestar Cell MTN's commitment to make daily financial transactions easier, safer and more convenient.

Christopher Ssali, Acting General Manager of Lonestar Cell MTN Mobile Money, said, "Liberians can now receive international financial remittances from family and friends in Europe, Canada and the USA more easily and safely. We have seen how resilient the people of Liberia truly are and we are very proud to be at the forefront of innovative technologies and partnerships which can help Liberians live convenient lives. Our partnership with WorldRemit does just that. Our MoMo ecosystem has grown so customers can use the money they receive to pay bills, buy goods and pay for the services they need with Mobile Money. We are excited about this because it makes our customers lives easier and we are supporting the government's aim for a cashless digital economy and financial inclusion."

Awa Gueye Ba, Head of Francophone West & Central Africa at WorldRemit, remarked that this partnership with Lonestar Cell MTN provides increased opportunities for customers to connect with their loved ones and receive convenient money transfers. "The MoMo service is one of the most demanded services in Liberia and we are excited about this collaboration with MTN Liberia, as it will allow users to send remittances 24/7 from the WorldRemit website or mobile app and receive directly to their MTN Mobile Money accounts. The partnership will further strengthen the efforts of the Central Bank of Liberia (CBL) in focusing on diverse means of delivering financial services to the rural community sector of the population and integrating them into the formal economy.

Providing our customers with safe, convenient and fast means to receive money is an important step towards WorldRemit's ambition to support customers, in the shift towards the digital economy."

Customers who receive money can conveniently cash-out, pay for goods and services, or transfer the money to their friends and family at the prevailing standard Mobile Money fees using *156#. Customers who are not on MTN Mobile Money can join easily. Sign up is free. All they need to do is visit any Lonestar Cell MTN service center or registered MoMo agent with a valid identification card and fill out an application form.

Lonestar Cell MTN/MTN Liberia, Liberia's leading telecommunications provider, was founded in 2001. We are a technology-based company with a focus on winning in everything we do while demonstrating consistency in innovation to meet our unique customer needs. We are a subsidiary of MTN, a leading international telecommunications groups operating in 21 countries across Africa and the Middle East.

WorldRemit is a leading global payments company. We disrupted an industry previously dominated by offline legacy players by taking international money transfers online - making them safer, faster and lower-cost. We currently send from 50 to 150 countries, operate in 6,500 money transfer corridors worldwide and employ over 1,100 people globally.

On the sending side WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, the company offers a wide range of options including bank deposit, cash collection, mobile airtime top-up and mobile money.

Backed by Accel, TCV and Leapfrog - WorldRemit's headquarters are in London, United Kingdom with regional offices in the United States, Canada, Australia, New Zealand, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

MTN Group works to build a culture of recognition through its 'global appreciation week'

MTN Group on Monday launched 'global appreciation week', encouraging employees to recognise their colleagues' efforts - big or small - towards achieving the group's vision, which is to lead the delivery of a bold, new digital world to our customers.

The aim is to make our 20 000 employees feel valued and connected, particularly important during COVID-19, when most employees are still working from home.

"Global appreciation week is an opportunity to show MTNers what they mean to us, recognising each person's contribution to our values and vital behaviours, as well as our company performance," said MTN Group chief human resources officer Paul Norman.

With a new theme every day this week, MTN employees are being urged to use the internal 'MTN Shine' peer-to-peer social recognition platform to send and receive messages to each other.

They are encouraged to celebrate the contribution of their co-workers to making the MTN brand and customer experience brighter; to recognise their colleagues' ability to support other team members; to shine a spotlight on our people and their spirit leadership; as well as to acknowledge everyday heroes in the group who go to extraordinary lengths to care for MTN's communities.

"With the emerging realities of the 'new normal' brought on by COVID-19, we recognise the need to rethink our employee value proposition. This begins with a deep sense of gratitude for all our MTNers who have always gone above and beyond to make us who we are," said Paul.

"While appreciation and recognition are deeply embedded in our culture, 'global appreciation week' is that special time of the year when MTNers across the group come together to show their appreciation, kindness and gratitude for each other. We salute our people who made all of the successes this year possible," he added.

Copyright FrontPageAfrica. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

Stocks mentioned in the article
ChangeLast1st jan.
MOMO INC. -1.98% 14.865 Delayed Quote.-54.75%
MTN GROUP LIMITED 2.35% 69.28 End-of-day quote.-16.01%
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Financials
Sales 2020 174 B 11 392 M 11 392 M
Net income 2020 15 365 M 1 009 M 1 009 M
Net Debt 2020 109 B 7 155 M 7 155 M
P/E ratio 2020 8,73x
Yield 2020 4,84%
Capitalization 125 B 8 185 M 8 179 M
EV / Sales 2020 1,35x
EV / Sales 2021 1,29x
Nbr of Employees -
Free-Float 65,1%
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Technical analysis trends MTN GROUP LIMITED
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TrendsBullishBullishNeutral
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 11
Average target price 83,18 ZAR
Last Close Price 69,28 ZAR
Spread / Highest target 37,1%
Spread / Average Target 20,1%
Spread / Lowest Target -14,8%
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Managers
NameTitle
Ralph Tendai Mupita Group President, CEO & Executive Director
Mcebisi Hubert Jonas Chairman
Jens Schulte-Bockum Group Chief Operating Officer
Sugentharan Perumal Chief Financial Officer
Charles Molapisi Chief Information & Technology Officer
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