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    SCOM   KE1000001402

SAFARICOM PLC

(SCOM)
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S.Africa's MTN will bid in second Ethiopia telecoms licence round

06/04/2021 | 05:43am EDT

JOHANNESBURG, June 4 (Reuters) - South Africa's MTN Group will bid again for an Ethiopia operating telecom licence in the second round if mobile financial services are included, its CEO said on Friday after losing the first round.

Mobile financial services is key to MTN's strategy as it continues to evolve from just providing voice to also providing data, digital services and mobile payment and lending solutions as demand for these services rise.

MTN expects fintech service revenue contribution to rise from 8% to 20% in 2025, with mobile money subscribers seen rising to 100 million from the current 46.6 million, Chief Financial Officer Tsholofelo Molefe told investors.

"For us it will really be important to see mobile money in that opportunity to put forward a bid and if it's not there then probably we wouldn't even bid," MTN Group CEO Ralph Mupita told investors at the group's capital markets day

If licence conditions in the second round remain the same, it might not bid at a higher amount, he said.

Last month Ethiopia's telecommunications regulator announced that it had awarded one operating licence to a consortium led by Kenya's Safaricom, Vodafone, and Japan's Sumitomo.

The consortium, which includes Vodacom and British development finance agency CDC Group, paid $850 million for the licence, while MTN's offer of $600 million was deemed too low.

"We really wanted to have seen mobile money in the licence regime, so we adjusted our bid for the lack of mobile money," Mupita said. (Reporting by Nqobile Dludla Editing by Tanisha Heiberg and David Evans)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MTN GROUP LIMITED 1.30% 105.41 End-of-day quote.75.13%
SAFARICOM PLC 0.12% 41.95 End-of-day quote.22.48%
SUMITOMO CORPORATION -0.74% 1483 End-of-day quote.8.60%
SUMITOMO REALTY & DEVELOPMENT CO., LTD. -1.31% 3552 End-of-day quote.11.66%
VODACOM GROUP LIMITED 0.72% 130.64 End-of-day quote.5.02%
VODAFONE GROUP PLC -0.19% 116.18 Delayed Quote.-3.75%
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Financials
Sales 2022 285 B 2 626 M 2 626 M
Net income 2022 78 462 M 723 M 723 M
Net cash 2022 32 023 M 295 M 295 M
P/E ratio 2022 21,4x
Yield 2022 3,70%
Capitalization 1 681 B 15 476 M 15 498 M
EV / Sales 2022 5,79x
EV / Sales 2023 5,29x
Nbr of Employees 4 436
Free-Float 25,1%
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 41,95 KES
Average target price 36,92 KES
Spread / Average Target -12,0%
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Managers and Directors
Peter Ndegwa Chief Executive Officer & Director
Dilip Pal Chief Financial Officer
Michael Joseph Chairman
Thibaud Rerolle Chief Technology Officer
Steve Okeyo Director-Regional Sales & Operations
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