MTN GHANA RECORDS GH₵1.1 BILLION FROM ITS IPO

SELORM-ADADEVOH-CEO-MTN-GHANA-

MTN Ghana has raised Gh₵1,146,589,464.75 of the expected Gh₵3,478,045,900, at the end of the Initial Public Offer (IPO) representing 32.97% of the total Offer amount.

The Offer which ran from 29th May, 2018 to 31st July, 2018 consisted of a public offer of up to 4,637,394,533 ordinary shares of MTN Ghana valued at Gh₵3,478,045,900 at an Offer Price of GHS 0.75 per share (the "Offer Shares"), representing up to 35% of the issued shares of MTN Ghana after the offer.

Even though the figure has fallen short of about 67percent of the target, MTN says with investor demand exceeding the minimum (GHS 347,804,590) required to be raised for the Offer, it can be declared successful.

Speaking at a news briefing in Accra, the Chief Executive Officer (CEO) of MTN Ghana, Selorm Adadevoh said of the 128,152 applicants, 127,826 were Ghanaians; and of the Gh₵1,146,589,464.75 raised under the Offer, Gh₵443,631,446.25, representing 38.69%, was raised from Ghanaians.

He indicated that 499 institutional applicants who bought 1,367,386,080 shares amounting to Gh₵1,025,539,560 represented 89.44percent.

Mr. Adadevoh added that the remaining 127,653 retail applicants who bought a total of 163,088,280 shares amounting Gh₵121,049,904.75 represented 10.56percent.

According to him, 108,434 applicants subscribed through the MTN Mobile Money portal representing 84.6% of the number of applicants.

He noted that the first day of trading of the MTN Ghana shares is expected to be launched on next month September 5.

The CEO emphasized that shareholders will then be able to monitor and trade their MTN Ghana shares by contacting a licensed dealing member of the Ghana Stock Exchange.

Mr. Adadevoh stated that successful applicants will be allotted all the shares they applied for. Applicants with Central Securities Depository (CSD) accounts will have their CSD accounts credited with their allotment by 4th September, 2018 by 5:00pm.

He added that IC Securities will create CSD accounts for successful applicants who did not provide details of their CSD accounts as part of their application, and their respective allotments will be credited to the respective CSD account created for them.

“A number of applicants who applied for shares have received notifications to update their identification documentation ("IDs"). Applicants who have received such notifications should visit any MTN Ghana Service Centre with updated IDs as a matter of urgency,” he posited.

Mr. Adadevoh said as a result of KYC considerations these applicants are required to update their IDs in order to be able to trade their shares from the first day of trading.

“Per the Offer prospectus, an appropriate ID is a valid national passport; a driver's license; a national ID; a national health insurance ID or a voter's ID. Until applicants have updated their information and ID cards, their shares will be held in a nominee account ah he CSD. After the applicants have updated their IDs, their shares will be transferred from the nominee account to their account,” he intimated.

According to him, by raising GHS 1,146,589,464.75 from 128,152 applicants, the Offer makes history as the largest primary share offer in the history of the Ghana Stock.

“This is the largest Offer ever in the history of the Ghana Stock Exchange (GSE). It has doubled the size of all the IPOs put together in the history of GSE,” he posited.

Mr. Selorm Adadevoh indicated that the Offer which ran from 29th May, 2018 to 31st July, 2018 consisted of a public offer of up to 4,637,394,533 ordinary shares of MTN Ghana valued at Gh₵3,478,045,900 at an Offer Price of GHS 0.75 per share (the "Offer Shares"), representing up to 35% of the issued shares of MTN Ghana after the offer.

 

Source: www.modernghana.com

NO COMMUNITY WOULD BE LEFT OUT OF MOBILE CONNECTIVITY - URSULA

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Mrs. Ursula Owusu Ekuful, the Minister of Communication has reiterated government's resolve to extend mobile telephone services to all rural communities across the Country.
She said Ghanaians living in remote communities also deserved to be part of the digitized global community, and that, extending telecommunications infrastructure to those areas was therefore necessary.
Mrs. Ekuful made the observation at Amantia in the Asante-Akim South Municipality, as part of her working visit to the Ashanti Region.
The Minister is in the region to inspect project sites of the Ghana Investment Fund for Electronic Communications (GIFEC) under the Rural Telephony Project (RTP).
She would also acquaint herself with the Community Information Centres (CICs) as well as the School Connectivity Projects, in eight districts in the region.
The Asante-Akim South Municipality has four of the RTPs sites at Amantia, Banka, Bankame-Sunkwa and Gyadam with two CICs at Banso and Obogu.
The Communication Minister said the Ministry through GIFEC was extending mobile telephone services to areas of the country where access were not adequately available.
She said there were areas where licensed operators were unwilling or unable to expand their networks to due to its low commercial viability, adding that, it was the responsibility of government to fill such gaps.
The objective of the RTP, she noted, was to achieve 100 per cent mobile telephone service coverage throughout the country and to increase telephone subscribership to as many citizens as possible.
She said the provision of computers under the School Connectivity Project would facilitate Information Communication Technology (ICT) studies, which was critical to quality education.
Hopeful that the project would help raise standard of education in the area, she urged beneficiary schools to arrange with schools in surrounding communities to also use the facility as a means of reaching out to more pupils.
Mr. Abraham Kofi Asante, the Administrator of GIFEC, said a total of 100 RTP sites had been completed across the country with 29 located in the Ashanti Region.
He said the second phase would see the construction of 200 sites, out of which 30 would be in the Ashanti Region.
Osabarima Tweampomah III, Chief of Banka, commended government for the project, which he said, was a laudable intervention that had addressed many years of communication challenges.

Source: GNA

INCORPORATE CODING INTO SCHOOL’S CURRICULA—KEN ASHIGBEY

Kenneth AshigbeyThe Chief Executive Officer of the Ghana Chamber of Telecommunications (GCT), Mr. Kenneth Ashigbey has called on the government to include coding as a subject in the school curricula.
According to him, coding, which is the language of technology has become the order of the new digital age; hence the need for the people to know about it at an early stage in life.
Mr. Ashigbey made the call in an interview after the launch of the Vodafone National Coding Programme in Accra last Friday.
The programme is to provide hands-on training for 10,000 young people in coding across the country.
Mr. Ashigbey said companies and individuals who did not have the basic understanding of the language for the future-coding—risked losing their jobs to artificial intelligence (AI), Internet of things (IoT) and robotics.
He added that it was not enough to be able to read and write, just as the various curricula in the primary schools have been providing. Instead, there was the need to equip young people with the basic knowledge in coding which would enable the country to have young brains that would be able to build and develop applications that were relevant in solving social problems.
“Being able to read and write is no more enough. You need to be able to code; no matter the roles you play, you would need the ability to know some level of coding to be able to say viable,” he said.
He therefore called the young people to register with the Vodafone coding programme and equip themselves to be able to stay relevant in what he described as “a very complex yet transformative digital world”.
Transformational Agenda
Earlier during the launch, a Deputy Minister of Communications, Mr. Vincent Sowah Odotei, said in a bid to place the country on a digital roadmap, the government, through the ministry, had partnered the World Bank Group to build an impact hub at the Accra Digital Centre (ADC).
He added that the ministry had also built other Enhanced Community Information Centres (ECICs) in deprived communities across the country. The centres, he said, were aimed at sending technology closer to the people, especially those who had been left out in digital experiences.
Mr. Odotei indicated that aside from equipping young people with skills in technology, the centres also provided capacity building for people with practical training on how to use the new technologies that were coming up.
“The ECICs are also aimed at creating a converging point for those in the community to go there and try their hands on electronic gadgets to feel the exciting digital experience, in addition to the children being taught how to code,” he said.
He stated that the ministry was building ICT centres in the various second cycle institutions in a bid to promote the digital transformation programme.
The programme
The Vodafone National Coding Programme is a nationwide digital programme which seeks to train young people in coding languages to prepare them for the future. The programme is also aimed at preparing people to be able to participate in building applications, websites and other social enhanced technological devices and add on to the growth of the economy.
The Chief Executive Officer (CEO) of Vodafone Ghana, Ms Yolanda Cuba, said: “if we have young people who do not have interest in coding, which is a basic language in order to partake in the new technology world, we will fall short in igniting Ghana’s digital revolution.”
She therefore called for dialogue to discuss the pragmatic ways to ensure that the country had an efficient narrative of being the digital hub of West Africa.

Source: graphic.com.gh

Government Endorses Vodafone’s Coding Programme

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Accra, 24 August 2018 - Government has endorsed a National Coding Programme recently launched by Vodafone Ghana to benefit 10,000 Ghanaian youth in the next five years.

The telecommunications company on Friday August 24th, announced that the coding programme is part of a unique strategy to ignite Ghana’s digital revolution.
Globally, digital coders are reshaping the world – disrupting and demystifying previously existing myths in technology and innovation. It has become an empowerment tool; changing the way businesses operate. Vodafone, through the Foundation, is bringing this closer to the Ghanaian youth in every corner of the country in order to equip them to be competitive in the changing global world of technology.

Deputy Communications Minister, Honourable Vincent Sowah-Odotei, speaking at the launch of the programme, said:

“When we can transform the lives of the Ghanaian youth through coding; our future world of technology as a country is in safe hands. It is fulfilling that our youth can get this opportunity to become change makers with coding. Inasmuch as it is comforting for us that Vodafone is taking the lead in this, we want to also pledge that we are committed to ensuring that they will be given flexible room to operate efficiently; imbibing the latest technology and innovation to succeed whilst bringing immense benefits to our youth.”

Yolanda Cuba, Chief Executive of Vodafone Ghana said:

“We are confident that this initiative will start a revolution that will elevate Ghana from our current normal technological status to a force to be reckoned with in the future. There’s so much coders can do to change the world and today, right here, we are developing the next generation of world changers inspired by Vodafone.”

The programme, which uses Vodafone’s employees as trainers, is targeted at Ghanaian youth aged between 14 and 18 years who have a passion for technological innovation and will typically last for five days in each region.
The Central Region is the next stop for the initiative; beginning on Monday August 27th to 31st at Adisadel College. A total of 50 youth are expected to take part. Interested participants should call 0503635266 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

Source: vodafone.com.gh.