MTN Group bags accolades in Nigeria, SA

Samuel Mungadze
By Samuel Mungadze, Africa editor
Johannesburg, 01 Apr 2022
Tsholofelo Molefe new MTN group CFO.
Tsholofelo Molefe new MTN group CFO.

MTN Group this week picked up accolades in its two biggest markets, Nigeria and SA, scooping five corporate awards.

In Nigeria, MTN was recognised by the Federal Inland Revenue Service (FIRS) as a top tax contributor, which the Pan-African telco says represents its commitment to the country and its obligations as a responsible corporate citizen.

“We are committed to contributing our quota to the growth of our economy and we are grateful for the recognition as a top 20 taxpayer in Nigeria and best tax compliant organisation in Nigeria,” says MTN.

The awards were presented to MTN by Prince Agba, minister of state budget, and Muhammad Nami, FIRS chairman, who was represented by Chike Okafor, house chairman on finance.

The tax awards in MTN’s biggest market follow a tumultuous relationship the group had with revenue authorities in Nigeria in the past few years.

However, MTN has since resolved its tax issues in the West African country, following the attorney-general’s decision to withdraw a $2 billion tax claim.

In its home market, the Johannesburg-headquartered MTN was this week recognised as having one of SA’s finest investor relations teams, scooping three awards at the inaugural Intellidex Top Investor Relations SA Survey Awards.

Investment analysts and portfolio managers surveyed for the awards placed MTN Group first in the industrial sector, third among large cap stocks listed on the JSE, as well as third in the overall rankings.

Respondents shared their views on the quality of investor relations among JSE-listed companies and were asked to rank the best and worst five companies among those they cover.

They were also asked to rank these companies on a number of factors, including the quality of engagement with senior management, annual reports and notes to the financial accounts, presentations, earnings and booklets.

“MTN Group is honoured to have received this recognition, which is evidence of our commitment to transparent communication with our stakeholders, in this case the investment community,” said MTN Group CFO Tsholofelo Molefe.

“We strive to keep the capital markets appraised of our progress as we execute on our Ambition 2025 strategy, which is centred on driving accelerated growth, faster deleveraging, and revealing value within its financial investments and platforms.”

MTN Group executive for investor relations Thato Motlanthe comments: “This feedback is invaluable in driving our investor relations programme and journey of progress. It’s also important to acknowledge the hard work of the investor relations team at MTN, the collaboration of the various teams within the group, as well as the guidance and support of management and the board. It is all critical in enriching MTN’s investor relations effort.”