As MTN Nigeria Plc plans its listing on the Nigerian Stock Exchange, NSE, for tomorrow (May 16th, 2019), it will be an interesting time for several of its reclusive Nigerian shareholders.
One of the most popular shareholders in MTN Nigeria is the Vice President, Professor Yemi Osinbajo, Mr. Pascal Dozie, founder of Diamond Bank (now Access Bank) and the company’s former chairman. Although he is not listed in the company’s public filings, his shareholding was acquired through his company.
According to his asset declaration made public by his office on the 2nd of September, 2015, he declared that he had:
“A bank balance of about N94 million and 900,000 United States Dollars in his bank accounts.”
“Houses: 4-bedroom residence at Victoria Garden City, Lagos and a 3-bedroom flat at 2 Mosley Road, Ikoyi; 2-bedroom flat at Redemption Camp along Lagos-Ibadan Expressway and a 2-bedroom mortgaged property in Bedford, England.”
“Others: Apart from his law firm, known as SimmonsCooper, the Vice-President also declared shareholding in six private companies based in Lagos, including Octogenerium Ltd., Windsor Grant Ltd., Tarapolsa, Vistorion Ltd., Aviva Ltd. and MTN Nigeria.”
People with the knowledge of the details estimated his shares in MTN Nigeria at about 5%.
MTN Nigeria started operations on May 16th, 2001 registered as MTN Nigeria Communications Limited, launching operations in Lagos, Abuja and Port Harcourt.
The company paid $285 million for its operating license. The company claimed it has invested about US$1.8 billion has been invested in building mobile telecommunications infrastructure in Nigeria.
The company’s shares which are estimated at about 30% was sold to local investors including the current Vice President, Professor Osinbajo. It is not clear if the Vice President has sold his shares after he declared it publicly since 2015.
However, the listing of MTN shares on the NSE will avail MTN Nigeria’s local shareholders the opportunity to sell all or part of their shares.
Earlier today, MTN confirmed that it has received the go-ahead of the Nigerian Stock Exchange, NSE, to list its shares on the bourse.
Here are other Nigerian shareholders, international and institutional investors who are likely to benefit from the floating of MTN Nigerian shares.
Pascal Dozie, Chairman, Africa Capital Alliance
Mr. Pascal Gabriel Dozie is the Co-Founder, Partner, Founding Partner and Non-Executive Partner at African Capital Alliance. Mr. Dozie is the Founder of Kunoch Limited. He was the Founder of Diamond Bank PLC and served as its Chief Executive Officer from 1991 to 2006.
He served as the President at the Nigeria Stock Exchange. He served as the President of OON.
He is the Chairman of New Nigeria Foundation and Chairman of the Board of Trustees of African Development Foundation.
Colonel Sani Bello, Chairman, MTN Communications Limited, Nigeria
Colonel M. Sani Bello serves as Vice Chairman at MTN Nigeria Communications Limited. Colonel Bello previously served as Chairman at Law Union & Rock Insurance Plc.
Mr. Karel W. Pienaar, MTN Group Limited
Mr. Karel W. Pienaar, B.Sc. (Electrical & Electronic Engineering), PrEng, served as Group Chief Strategy Officer of MTN Group Limited since May 29, 2013 until December 3, 2015. Mr. Pienaar was responsible for overseeing MTN strategy across its 22 operations. He served as Chief Executive Officer of Mtn (Pty) Ltd and MTN SA. Mr. Pienaar served as Chief technical and Information Officer and Managing Director of MTN Group Ltd. Mr. Pienaar served as Group Chief Technology
Gbenga Oyebode, Advisor, Ingressive Capital
Mr. Gbenga Oyebode, MFR serves as Advisor at Ingressive Capital and has been Managing Partner of Aluko & Oyebode & Co. since 1993. Mr. Oyebode is the President of Okomu Oil Palm Company and Access Bank. For over years, he has developed significant experience in the project finance, corporate law, energy and natural resources, telecommunications and aviation law.
Mr. Oyebode serves as the Chairman of The Okomu Oil Palm Company Plc. Mr. Oyebode served as Non-Executive
Mr. Victor Odili, Nigeria Communications Limited
Chief Victor Odili serves as Director at MTN Nigeria Communications Limited.
The move will make Nigeria’s largest mobile carrier the second largest traded company by market capitalization of about N1.8 trillion.
Mr. Robert D. Nisbet, Director, MTN Nigeria Communications Limited
Mr. Robert D. Nisbet, also known as Rob, BCom, BAcc, CA (SA) served as the Chief Financial Officer of MTN Group Ltd. and also served as its Group Finance Director until July 2009. Mr. Nisbet served as Financial Director of Mathieson and Ashley.
He held financial directorships in both listed and unlisted companies. He serves as Director of MTN Nigeria Communications Limited. He served as an Independent Non-Executive Director at Tiger Brands Limited since August 01, 2010
Mrs. Fatima Daniels, Clicks Group
Ms. Fatima Daniels , also known as Jakoet, B.Sc., CTA, CA (SA), served as a General Manager of Denel. She worked in the Eskom Group for ten years in positions ranging from regional and corporate finance to General Manager of Telecommunications. She has depth experience in various facets of large corporate business, from both a strategic and operational perspective. She is an advocate of competition and free-market principles. She has extensive corporate experience ranging
Dr. Babatunde Tijani Folawiyo, Coronation Merchant Bank
Dr. Babatunde Tijani Folawiyo, also known as Tunde D.BA serves as the Managing Director of Yinka Folowiyo Power. Mr. Folawiyo is Chairman of Coronation Merchant Bank Ltd. Mr. Folawiyo serves as Director of MTN Nigeria Ltd. Mr. Folawiyo serves as an Executive Director of Yinka Folawiyo Petroleum Co. Ltd. He serves as Executive Director of Yinka Folawiyo Group of Companies.
He has been a Director of Abacan Resource Corp. since December 1993. Over the course of his career,
Mallam Ahmed I. Dasuki, Nigeria Communications Limited
Mr. Mallam Ahmed I. Dasuki serves as the Executive Chairman of Quaditect Consultants. Mr. Dasuki serves as a Director of MTN Nigeria Communications Limited. He serves as a Director of Phillips Project Centre. He served as a Director of Stanbic IBTC Bank PLC from 1989 to 2010. He is an Architect and Businessman.
Mr. Ahmed Farroukh, Smile Telecoms Holdings Limited
Mr. Ahmed Farroukh, MBA, CPA, has been Executive Director of Operations at Smile Telecoms Holdings Limited since May 1, 2017. Mr. Farroukh served as the Chief Executive Officer of Mobily since July 2015.
He served as the Chief Executive Officer of MTN South Africa since August 2014 until July 31, 2015. He served as Chief Executive Officer of Etihad Etisalat Company since July 12, 2015. He served as Chief Executive Officer of MTN Nigeria. Mr. Farroukh served as the Chief
Mr. Raymond Sifiso Dabengwa, MTN Nigeria Communications Limited
Mr. Raymond Sifiso Ndlovu Dabengwa, BSc Elect Eng, MBA, EDP, served as the Chief Executive Officer and President of MTN Group Ltd. from March 31, 2011 to November 9, 2015. Mr. Dabengwa served as Chief Operating Officer of MTN Group Ltd. until March 31, 2011. He served as Managing Director of MTN SA of MTN Group Ltd. Mr. Dabengwa served as Chief Operating Officer-South Africa of MTN Nigeria Communications Limited.
He served as Chief Executive Officer of -MTN Nigeria Communications
Mr. Christian M. DeFaria, Airtel Uganda Limited
Mr. Christian M. DeFaria, CA, serves as the Chief Executive Officer of Airtel Africa of Airtel Uganda Limited. Mr. de Faria has been the Head of Telecom at Bharti Enterprises Limited since January 2014.
Mr. de Faria served as Chief Executive Officer of Bharti Airtel Africa B.V. until January 1, 2017. Mr. de Faria served as the Chief Executive Officer of Africa at Bharti Airtel Limited since January 1, 2014 and served as its Managing Director of Africa. He has been Executive
Mr. MTN Group Limited, Paul D. Norman
Mr. Paul D. Norman, MA (Psychology), MBA, serves as Group Chief Human Resources Officer of MTN Group Limited. He served as Group Chief Human Resources & Corporate Affairs Officer at MTN Group Limited since 1997.
Mr. Norman served as Group Executive, Human Resources of MTN Group Ltd. since 1997. He has spent more than 10 years in the field of HR. He has worked extensively in the transport and telecommunications industry. He serves as a Director of MTN Nigeria Communications
Mr. Joseph Solan,
Mr. Joseph Solan serves as Senior Manager of Credit Review and Portfolio of Global Information and Communication Technologies Department at International Finance Corporation.
Mr. Solan served as an Investment Officer in Europe, the Middle East, and in Latin America, covering a range of industries and banks. He worked at 3i Group plc.
Mr. Solan joined the IFC Telecommunications Division at its formation in 1992 and has wide experience of financings and restructurings