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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

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    Manufacture of petroleum products push PPI to 31.2% in April

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    Akufo-Addo worried over impact of fertiliser shortage on poultry industry

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    Agribusiness Chamber demands resignation of Agric Minister over sector woes

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    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

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SEC still awaiting MTN’s progress with floating of shares

bycitibusinessnews
November 16, 2016
in Government, Local Economy, TECHNOLOGY, Top Stories
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Information available to Citi Business News indicate that MTN Ghana is yet to complete processes that will allow it to cede part of its operations to the public.

It comes a month after the telecommunication company commenced moves to cede 35 percent of its stake to the public through the floating of shares.

Though SEC had accepted the decision by MTN, the Head of Issuers at SEC, Jacob Aidoo explained that the Commission was awaiting full complements on the total value of MTN to determine the exact value of the 35 percent stake the company intends to float.

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But Citi Business News sources say the telecommunication company has still not presented such documents to the regulator. It is unclear what is accounting for the delay as the company is yet to comment on the matter.

The decision to float shares also forms part of requirements following MTN’s acquisition of one of the two 4G Licenses in December last year.

The Director General of the Securities and Exchange Commission, (SEC) Dr. Adu Anane Antwi however explained to Citi Business News his outfit would have preferred a complete listing by MTN on the domestic bourse.

“It is welcoming news as Ghanaians will own the shares but it is more beneficial to the entire market when it is listed on the Ghana Stock Exchange. It will deepen the Ghana Stock Exchange as it will increase the size and put the GSE at a level that will be compared to other bigger exchanges across Africa,” he explained.

Though it’s been almost a year after MTN secured the license for 4G spectrum from the industry regulator, the National Communications Authority (NCA), Dr. Anane Antwi believes the NCA would have intervened if the company had defaulted.

“I think if they had gone outside the timeframe within which they had to complete, the regulator (NCA) would have complained or dealt with that matter.”

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

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