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Western Region : MTN IPO launched

Source : Kweku Bee Abrante l 4 June 2018
The biggest telecommunications giant in Ghana, MTN has launched its Initial Public  Offering (IPO) in the Western Region after a successful launch in Accra and Kumasi.
MTN is listing its shares to meet conditions agreed in 2015, when it acquired the right for the 4G license to give Ghanaians the opportunity to own shares in the company.
With last Tuesday’s IPO launch in Accra , MTN  made history as the first Telecommunications Network  to be listed on the Ghana Stock Exchange.
Scancom made history in 1996 by being the first company to introduce GSM technology in Ghana, the expansion begun upon acquisition of the company in 2006 by MTN after inheriting 2.5 million subscribers and quickly achieved the 10 million subscriber milestone within 5 years.
Today, MTN is over 17 million subscribers with about 1.8 coming from the western region.  
MTN was the first in attaining national coverage in all 10 regions and first to also launch 3G, Mobile Money, Corporate Social Investment (CSI) Foundation and nationwide 4G Mobile service, just to name a few.
Present at the MTN IPO western regional launch was The Omanhene of Essikado Traditional Council, Nana Kobina Nketsia V, the western regional minister, Dr. Kweku  Afriyie , the deputy central western regional minister Gifty Eugenia Kusi,customers, dealers,partner banks, MoMo agents & merchants etc.
Speaking at the event, MTN Ghana general manager for mobile money, Eli Hini revealed that, charges on the use of  mobile money to purchase shares has been waived,  meaning that if you use Momo to buy shares you will not be charged any transaction fee.
He said , checks from GSMA confirms that, this is the first time that Mobile Money will be used to buy shares in an IPO (and subsequently trade them) anywhere in Africa or the world over.
He continued that the use of momo in buying shares  will accelerate financial inclusion in the capital markets of Ghana, for many people in the length and breadth of this country who would not ordinarily have access to the capital markets.
He also  revealed MTN is  pleased with the number of applications received using mobile money within 24 hours post opening the offer with about 1.14million Mobile Money subscribers from the  Western Region.

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