Wednesday, November 30Inside Business Africa
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Tag: MTN

Audiomack partners with MTN to bring music streaming to over 76 million subscribers at ZERO DATA COST

Audiomack partners with MTN to bring music streaming to over 76 million subscribers at ZERO DATA COST

Business
Audiomack has partnered with MTN Nigeria (www.MTNonline.com) to unveil the Audiomack+MTN Data Bundle program (www.MTN.tc.Audiomack.com), which offers MTN subscribers tailored data bundles for streaming unlimited music and accessing content on Audiomack free of data charges. The partnership will see MTN subscribers gain free access to Audiomack’s streaming service via their mobile devices on weekly and monthly subscriptions. The weekly plan offers 1.2GB + Free Audiomack at N270 while the monthly plan offers 2.5GB + Free Audiomack at N550. We are truly excited to offer the best and hottest new musical tracks—a mix of real-time trending, top charts, and expertly-curated playlists to MTN subscribers Commenting on the partnership, Dave Macli, CEO and Co-Founder of Audiomack A...
Stock market index gains 1.90 per cent

Stock market index gains 1.90 per cent

Business
Transactions on the Nigerian Stock Exchange (NSE) sustained its positive trend yesterday as more highly-capitalised stocks appreciated in prices, boosting the All-Share Index (ASI) by 1.90 per cent. At the close of trading, investors gained N325 billion as market capitalisation advanced to N17.384 trillion. Also, the ASI increased by 621.26 absolute points, representing a growth of 1.90 per cent to close at 33,268.36 points. The positive performance came from gains recorded by highly-capitalized stocks, including Nigerian Breweries Plc, Presco Plc, MTN Nigeria Communications plc (MTNN), Guinness Nigeria Plc and NASCON Allied Industries Plc. Analysts at Afrinvest Research said: “While there is yet room for profit-taking, we expect the local bourse to close the week on a bullish not...
Negative fixed income returns, bellwethers push NSE index by 2.53%

Negative fixed income returns, bellwethers push NSE index by 2.53%

Capital Market
As declining returns across fixed-income assets continue to buoy investors’ appetite in bellwether stocks, the All-share index (ASI), erased its year-to-date losses on Friday, appreciating by 2.53 per cent to close at 26,986.77 per cent last week. This is despite the one-day holiday declared by the Federal Government on Thursday, October 1st to commemorate Nigeria’s 60th Independence anniversary. Also, the market capitalisation of the Nigerian Stock Exchange (NSE) appreciated by 2.55 per cent to close the week N14.105 trillion. All other indices finished higher with the exception of NSE consumer goods, which depreciated by 0.75 per cent, while NSE ASeM Index closed flat. Analysts linked the improved buying interest, and positive sentiments to Monetary Policy Committee (MPC) de...
Renewed bargain-hunting pushes index by 0.31 per cent

Renewed bargain-hunting pushes index by 0.31 per cent

Business
The Nigerian equities market rebounded yesterday, occasioned by bargain-hunting in most blue-chip stocks, causing the All-Share Index (ASI), to advance by 0.31 per cent. Precisely, the ASI rose by 80.55 absolute points, representing a growth of 0.31 per cent to close at 25,654.90 points. Similarly, the overall market capitalisation gained N43 billion to close at N13.408 trillion. The upturn was impacted by gains recorded in large and medium capital stocks, including MTNN, Red Star Express, FBN Holdings (FBNH), Dangote Sugar Refinery, and Trans-Nationwide Express. Analysts at Afrinvest Limited expect bargain-hunting to persist in the market. Market sentiment, as measured by the market breadth, was negative, as nine stocks gained relative to 17 losers. Red Star Express recorded the...
Equities record largest fall in three weeks, as investors lose N70b

Equities record largest fall in three weeks, as investors lose N70b

Capital Market
Weak sentiments and selloffs across bellwether stocks, especially MTN Nigeria, Guaranty Trust Bank, and Seplat led to the market’s largest fall in three weeks, as investors fortunes slumped further by N70 billion. At the close of trading yesterday, the All-Share Index (ASI) decreased by 133.45 absolute points or 0.54 per cent to close at 24,650.16 points. Similarly, investors lost N70 billion as market capitalisation fell to N12.859 trillion. The downturn was impacted by losses recorded in large and medium value stocks, including Seplat Petroleum Development Company, Total Nigeria, MTN Nigeria Communications (MTNN), Julius Berger, and Guaranty Trust Bank. Analysts at Afrinvest Limited predicted that the performance of the market this week would be majorly dictated ...
Investor confidence plunges by 0.08 per cent amid uncertainty

Investor confidence plunges by 0.08 per cent amid uncertainty

Business
Uncertainties, inconsistent government policies have continued to dampen investors’ confidence in the equity sector of the Nigerian Stock Exchange (NSE), raising questions as to turning around its fortunes. This is just as economic recovery is also threatened by the COVID-19 crisis. Specifically, at the close of trading last week, the NSE All-Share Index and market capitalisation both fell by 0.08 per cent to close the week at 24,287.66 and N12.670 trillion, respectively. Also, all other indices finished lower with the exception of NSE Lotus II and NSE Industrial Goods Indices, which gained 0.94 per cent and 0.52 per cent, respectively, while NSE ASeM closed flat. Analysts argued that the sectorial rotation and performance have been volatile in the recent period, causing the market outl...
Bellwethers push NSE’s indices further by N104 billion

Bellwethers push NSE’s indices further by N104 billion

Business
Sustained bargain-hunting in most highly value stocks, especially MTN Nigeria, and Airtel, yesterday, lifted the Nigerian Stock Exchange (NSE) market capitalisation further by N104 billion. In summary, the All-Share Index (ASI) rose by 199.80 absolute points or 0.83 per cent to close at 24,330.06 points. Also, investors gained N104 billion as market capitalisation advanced to N12.692 trillion. The upturn was impacted by gains recorded in large and medium capitalised stocks, including Airtel Africa, Presco, MTNN, Guaranty Trust Bank, and Cadbury Nigeria. Commenting, analysts at Vetiva Capital, said: “With the attractiveness of a number of fundamentally sound stocks due to low prices, investors were left with no option in today’s session than to take advantage of the low valuations....
Nigeria, others witness slow Internet speed as submarine cable cuts

Nigeria, others witness slow Internet speed as submarine cable cuts

Technology & Innovation
Subscribers, especially data customers may experience service disruptions, slow speeds, among other challenges as a result of damages to a submarine cable system on the Atlantic sea. It was gathered that two submarine fibre-optic lines connecting Africa to the global network suffered some degrees of cuts. This is coming barely two months after data services were disrupted as a result of fibre cut. The West Africa Cable System (WACS), which carries data between the UK and the west coast of Africa is said to have suffered damage on Saturday. This alongside a second break along the South Atlantic Telecommunications (SAT-3) has led to slow Internet for many users. This comes at a time when many citizens are staying/working at home following lockdown directives by various African gove...
MTN, Ericsson Commence Network-managed Operations in Benin

MTN, Ericsson Commence Network-managed Operations in Benin

Business
MTN Benin has extended its long-term relationship with Ericsson to provide world-class managed services, including network operations centre, field services in radio, core and transmission in Benin. The new contract will propel MTN Benin towards intelligent and data driven operations with the power of Artificial Intelligence (AI) used cases. Under the agreement, the future capabilities of efficiencies, automation and data will enable MTN Benin and Ericsson to jointly create a world of predictive operations with focus on customer experience, network quality, performance and automation. Chief Executive Officer at MTN Benin, Stephen Blewett, said: “Network managed operations play a significant role in improving MTN customers’ satisfaction and enhancing customer experience as well as en...

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